Buying property in Turkey

Some investors want to start off with buying properties close to home and some like to buy internationally. This all depends on the investor’s strategy and personal requirements. They may have a personal interest in having a holiday home abroad and of course making money at the same time is a good bonus.

We have found that property investors engage different strategies to reach their investing goals.  Having a strategy is the first place to start if you want to be successful in property investing.

Some investors want to start off with buying properties close to home and some like to buy internationally.  This all depends on the investor’s strategy and personal requirements.  They may have a personal interest in having a holiday home abroad and of course making money at the same time is a good bonus.

This article is about buying a property in Turkey and why you might consider this as an option.

Research the local market

It’s very important to research the local market and do your due diligence on the area and country. Perhaps a shortcut would be to find a company who knows the local market already.  Make sure you also do your due diligence on the company that you are planning to buy through.

Ensure you visit the area before you buy.  It might all look good on paper, but it’s important that you get a feel for the area yourself, particularly if it is going to be a holiday home as well as an investment. The company you are working with could arrange a viewing trip for you.

Destinations

Turkey has many areas which are great holiday destinations and some great property.

These are all popular destinations for holiday makers.  Winters are much warmer than in the UK, especially in the areas listed above.  The number of flights has increased dramatically in recent times, making Turkey very accessible from the UK.

Thriving market

Of course, Turkey is a late starter to the British overseas property market, but it is thriving.  It has low property prices and a beautiful large coastline.  “A Place in the Sun” state that 35,000 Brits own a property in Turkey. In total we own six million square meters of Turkish land, almost double that owned by the next highest group, the Germans.

If you are thinking about buying in Turkey it’s important to understand the market over there, understand the sales process and last but not least to deal with a reputable company.

Written by Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

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