What kind of real estate is being bought in Turkey in 2024?
Enterprising Europeans and Americans have long realized that earning money from buying, selling and renting out foreign real estate can be very decent. Europeans are just beginning to explore the foreign market, and are most often interested in real estate in the resort area, where they could spend their holidays. What kind of real estate is this?
Apartments located in apartment buildings or residential complexes on the Mediterranean coast are in the greatest demand. The leading objects in terms of price are those that can be bought for up to $ 150,000, which is more than realistic in Turkey.
Most of all, buyers are interested in housing located near the sea. Although there are those who buy real estate in major cities of Turkey.
Individual houses and villas are more expensive than apartments, their maintenance costs are traditionally higher, so they are bought less often.
There is more demand in the primary housing market than in the secondary one. This is partly due to the fact that apartments in Turkish new buildings are already being sold fully habitable – with installed plumbing, built-in kitchen, interior doors and laid flooring. A lot of housing is being built in Turkey, and conditions for purchase can be found very good – especially if you use the qualified help of specialists.
Russians are also interested in real estate at the construction stage, but it causes a lot of doubts and fears, and this is due to the wave of fraud in the field of development that swept through Europe several years ago. There is still a risk that the finished building, in which people invested money at the construction stage, will be recognized as illegally erected and demolished. Of course, the situation in Turkey is completely different, but the fear does not go away.
Although buyers are willing to spend quite impressive amounts on buying real estate, they are primarily interested in objects that are sold at low prices. The vast majority of properties in Turkey are purchased by foreigners at a price within 120 000 − 150 000 dollars.
About a third of buyers are interested in the possibility of purchasing Turkish real estate on credit or by installments. At the same time, most people who want to usually manage to get a mortgage or installment plan without problems – again, if there is someone to tell them how to do it correctly.
Interestingly, more than half of the buyers of real estate in Turkey are trying to collect the necessary information and choose the best purchase option on their own. Although there are more and more people who value their time and money, and turn directly to professionals. And they do not necessarily have to be realtors, whom many do not trust because of their material interest in selling objects.
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Quite often, on some websites and forums, you can find statements that it is very easy to buy real estate in Turkey without intermediaries and it will cost much cheaper than through real estate agencies. Is this really the...