Turkey is a beautiful country with many diverse cultures and a rich history. It is also an affordable place to buy homes that makes it perfect for looking for a safe investment.
The real estate market in Turkey is experiencing rapid growth. The economy continues to grow, and more people want to live there. So if you are looking for homes for sale in Turkey, we are here to help!
So, let’s get started.
Property type to decide best Homes for Sale in Turkey
You might be surprised at how many types of properties there are available across Turkish real estate markets!
1- Townhouses (Konut)
It is quite a popular choice among investors because they offer great value compared to other property types. More people want them, which drives up the competition while demand stays relatively low. Most towns have plenty of these, so finding your dream home should not be too complicated if this is what you’re looking for.
2- Flats/Apartments (Daire)
This type of property offers good value for money since it is not as expensive to build. The downside? Not everyone wants them, so you might need to look around more than if you were looking at townhouses or villas in higher demand.
3- Villas (Yazlık)
Villas are the most luxurious type of property available in Turkey. It is largely due to their popularity among foreign buyers and investors who enjoy living like local Turks for a few months or years at a time.
Peculiarities of the Turkish property market
Since you are looking for a Turkey home for sale, this section is very important to read.
The Turkish property market differs significantly from the European one since it has more legal obstacles and procedures than other countries.
The succession laws also differ, while any number of heirs can inherit most properties without limitations or taxes imposed on them.
The only exception is real estate assets built up after 2001 that cannot be passed down according to right of survivorship but must go through a special process within six months following the death.
Many types of rights allow owners/investors to sell their property at certain times throughout its life cycle:
- Absolute ownership (Volkanik mülkiyet)*- full freedom over the property.
- Limited ownership (Kurucu irtifak hakkı)*- the right to use and dispose of a property.
- Private real estate rights (Serbest irat kaydi)- allows owner/investor access to their properties without any limitations, including selling it or giving it away as an inheritance.
Be careful when buying a property off-plan
For most property investors, off-plan purchases are the safest route to take when buying properties for Homes for sale.
They allow buyers to buy a piece of real estate that is not yet built with benefits like lower prices and flexible payment plans.
However, there can be an issue if you plan on reselling your investment. It is hard to find information about what has or hasn’t been done with off-plan properties after construction starts.
Buyers who are unfamiliar with the Turkish purchase process are open to exploitation. So, if you want to buy off-plan, be sure you fully understand your risk.
The Turkish government has no legal responsibilities for purchasing off-plan property, so you won’t be protected if the developer goes bankrupt.
Start with Locations
Buying homes in Turkey doesn’t have to be complicated.
All you need is a clear plan of where exactly you want to buy your real estate investment.
Three major cities make the best choices for most property investors: Istanbul, Izmir, and Ankara. These areas are considered safe places with steady economic growth, making them great options while buying Turkey apartments for sale.
Take notice of Property Prices
It is tricky, but knowing what you can afford is crucial when buying homes or apartments in Turkey. Prices vary greatly from place to place and even within cities. It mostly depends on their size and popularity with tourists or investment buyers.
In addition to that, there are 16 regions in Turkey. Some have high price tags because of their popularity with tourists and foreign buyers. On the other hand, others provide great investment opportunities due to lower prices which is usually the case if you buy a cheap apartment in Turkey for sale near a city center.
The best way to deal with this is through an agent or broker specializing in your area who knows all about property values and market fluctuations. Ask them plenty of questions when looking for properties like:
- Price trends in the last five years?
- What will be the market value of this property two or three years from now?
- Is it a good time to buy real estate right now on the Turkish market?
Asking these questions will help you avoid overpaying for properties. It is always better to start with lower prices and build your way up rather than getting carried away by buying high-end homes at first.
Also, suppose there are any restrictions against construction near major roads or tourist areas. In that case, you should consider that fact because some investment opportunities might not seem so great anymore after learning about those.
With all that being said, here is what we recommend when looking for Homes For Sale In Turkey.