We can’t say that the Turkish economy is not an economy like the industrialized countries. However, the economic and juridical developments about direct investment in Turkey, relatively low-cost labor, underground sources, fields, tourism, and the potential business sectors encourages the investors to invest in Turkey.
Therefore it is really important to think always twice, before investing in a real-estate.
In practice, we face the investors purchasing real-states from projects, just because they like the project. In recent years, it is absolutely true that, so many Turkish or foreign investors profited that way. However, because of the increase of supply, in many areas, real-estate prices went down comparing to 2015.
As a foreign consumer, who wants to buy a real estate and spend his time with his family in Turkey, it is absolutely a nice idea to buy real estate in beautiful Turkey. However, if you want to invest, you have to be careful with legal issues and business issues.
Here we can give you simply written tips, to be aware of…
First of all, what we suggest to our clients, is to check the history of the place. What developments around ( like new ways, new constructions, new government facilities) occurred there if/how high the prices went up, if it is a land what potentials of constructions, are the keys to understanding if the investment can be made in there.
Secondly, it is very important to check the potential developments around the real-estate. For instance, it can be a nice idea to buy a field, if there is a new airport is being built, or to buy another field on which you can build a hotel…
Thirdly, if you are planning to purchase a field, you need to check if the field has a construction permit or has the potential to obtain construction permits in the future.
Lastly, it is very important to check if you can sell the field easily in the future, in case of cash-need.