The Republic of Turkey is one of the most popular regions in the world real estate market. The mild climate, the picturesque nature of the Mediterranean coast, beautiful beaches with clean sand, the highest quality of local infrastructure and affordable prices create ideal conditions for attracting home buyers in this country.
Advantages and Disadvantages of the Real Estate Market in Turkey
Before you decide to move to another country, you should carefully analyze everything. And only by comparing the pros and cons, you can decide whether it is worth buying the real estate in Turkey.
· The favorable climate.
Even in the northern regions of the country during the winter months, the average temperature does not fall below + 5 °C.
· Good ecology.
Local authorities carefully monitor the cleanliness of the air and maintain order in the streets of cities.
· The visa-free regime.
The absence of a complicated procedure for issuing documents often becomes the main advantage for the owner.
· A low cost of goods and services.
Prices in Turkish shops are much lower than in European shops, and in the markets clothes or products, in general, can be bought in half cheaper.
· The cost of the sale of the real estate in comparison with Europe is lower.
Taxes and interest on the purchase of housing rarely exceed in the aggregate 5%. On average, tax collections are about € 150 per year.
· An insufficient level of investment.
This region is largely focused on the development of tourism and attracting a large number of holidaymakers. Therefore, today the market of resort real estate, which is interesting for foreign tourists, is developing here. At the same time, there is an excess of proposals, which makes real estate less liquid and profitable.
· The high-interest rate at the mortgage rate in comparison with the EU countries.
For example, in Spain, a mortgage is lower at 3-4%, unlike Turkey.
Acquisition of a Real Estate in Turkey by Russians
After the lifting of the sanctions, the question of how to buy an apartment in Turkey for Russians again became relevant. Thanks to the influx of foreign capital, including from Russia, the Turkish real estate market began to expand. It is quite easy for Russians to buy real estate in Turkey into private ownership or to rent it since the processing of documents usually does not take much time.
Visit Efestio platform for offers