What should you Pay Attention to When Buying Investment Apartments?by alex donvour Economic consultant
It is advisable to set the necessary budget for buying apartments for investment purposes, while moving away from bank loans as much as possible when buying such apartments, because of the high interest added on these loans, which are often equal to the expected investment profit or more, In addition to the possibility of difficulties in the regularity of payment of periodic installments, which may result in the imposition of other financial sanctions.
It is important also to note that the investment amount allocated for buying an apartment must be a surplus from the basic needs of the owner, because there is always a risk in the investment operations, and may get a loss if the investor suddenly had to buy the necessary liquidity.
It is not recommended to focus on the famous high-priced areas in major cities, but it is recommended to go to the developing regions and to under real estate development.
It is also necessary to research and investigate the reliability of the real estate company or the real estate broker before buying the property, and to check the price offered and specifications of the property, also to be sure of the technical issues related to the property in all respects, in addition to the legal situation and the form of registration in the registration of real estate records.
What are the most important tips for choosing apartments to invest in Turkey?
First: Under construction apartments: because the prices of apartments in Turkey, much different if they are ready or under construction, and it is known that waiting will increases properties prices.
Second: Apartments in areas that are booming and growing with a strong urban movement, which can be growing and rising constantly unlike other stable and full areas.
Third: The real estate agent must be a consultant. You must choose a real estate broker with experience and reliability in Turkish real estate. It helps you choose an apartment to invest in Turkey so that the investor does not fall into the wrong choice.
In the past two years, Turkish real estate companies have been competing in large-scale real estate campaigns that have led to a quantum leap in apartment sales, local and foreign investors were given the opportunity to buy comfortable apartments for periods of up to 240 months, making the search for apartments for sale in Turkey in 2017 and 2018 an option for those wishing to own and invest.
Apartments prices in Turkey is relatively low compared to the prices of apartments in other European countries, and the investor can achieve high incomes relatively risk-free, by investing in buying apartments for sale in Turkey; Turkish construction companies have set up a large number of urban projects at all levels and desires to meet all investors needs and those wishing to own.
Some investors may wonder about the average price of the apartment in installments in Turkey, and to answer this question we can say that this varies from one city to another and from one area to another within the city, but in general, you can afford an apartment acceptable for $ 65 thousand dollars.
In addition, the amazing installment options to suit different times, including a real estate campaign that has the potential to pay 1% of the apartment prices, and start paying installments starting in 2019. Real estate experts predict that the year 2018 will see such campaigns, which will increase the vitality of the real estate sector in Turkey, and the demand to buy apartments and investment in Turkey of various types, especially apartments with wonderful sea views.
Tips for those wishing to buy cheap ownership apartments in Turkey:
- When looking for apartments for sale in Turkey, He should not be satisfied with the description he receives from many marketers in traditional and electronic media.
- The investor should study the area and decide to buy an apartment in it and must know the infrastructure, the type of apartments, the most important facilities and public services surrounding them.
- It is necessary to choose apartments built in accordance with international standards because this type of apartments rises in price over time.
- The investor must make sure that the apartment that he will buy is free of structural defects as well as free of any debts, taxes, financial assets or legal consequences.
- Looking for a reliable real estate agent to use in the purchase and ownership of apartments and to solve any problem you may face.
At Imtilak Real Estate, we offer you a variety of options to purchase property in Turkey, whether it is for family housing or leasing, and for monthly financial returns. We can also assist you in after-sales services such as leasing and property management.
Reasons why to invest in Turkey:
As the country has an area of about 783,562.38 km² which shows how large the country is and also defines the potential of development in it. In spite of the area, there are many other reasons why a person should think of the investment in Turkey some of them are listed below.
- Growth in the real-estate: While the reports show that there is a decline in the real estate business all over the world including America and European countries, but in Turkey, there is a growth in the real estate sector of around 18.4%. This shows how safe it is to invest in Turkey and explains why there are many apartments for sale in Turkey.
- Global evidence: Istanbul and many other big cities are considered to be attracting the real estate investors. Also, Turkey is ranked as a 3rd most profitable country in the sector of real estate. The real estate business is rapidly growing in Turkey and it’s considered to be one of the best countries for investment purpose in Europe.
- Availability of properties: There are ample numbers of units for sale in Turkey. If someone makes up his mind of investing in Turkey in flats or apartments then he can surely find the right property for him. Apartments in Turkey for sale are equipped with all the new facilities and amenities.
- Demographic factor: The demography of an area can affect the business of that place; it can be in a negative or a positive way. But the demography of Turkey is the most favorable for its real estate sector. All the demographical factors are in the favor of the business let it be the population or the distribution of land.
- High GDP: The GDP of Turkey is always on the rise. The GDP was around 822 USD billion in the year 2013. 60% of the population in Turkey is under 40 years of age; this makes it a major target for foreign direct investment.
- Easy availability of finance: Banks and mortgage firms provide easy finance options for people who are looking for investment in real estate in Turkey. This allows them to buy the property on the spot and allows for slowly paying off the loans. This makes apartments for sale in Turkey easily available for those who are willing to buy and invest.
- Slowly becoming an economic hub: Turkey is slowly getting transformed into an economic hub which provides extremely modern shopping centers and an easy access to 1.5 billion people who visit Turkey for different purposes.
The factors mentioned above can make any person interested in the apartments for sale in Turkey. Understanding these factors will show people that real estate investment in Turkey can be really profitable and can lead to great benefits.
Created on Jun 21st 2018 05:44. Viewed 212 times.