5 Myths About Turkish Real Estate Market

Turkish real estate market has always been open to many foreigners but the recent citizenship by investment programs obviously made it seem way more interesting in the eyes of many investors. As is the case with many popular things, misinformation is widespread regarding the Turkish real estate market. Today we will go over some general misunderstandings regarding the state of the Turkish real estate market and try to ease the minds of possible investors who will profit greatly by buying a house in Turkey. 

Only Rich People Can Invest in Turkey

It is a common misconception that Turkey is a country full of extremely expensive houses that are only affordable by the very rich. This idea is especially common among many Arab investors for some reason. This is mostly caused due to a severe case of market unawareness. In fact, you can invest in Turkish real estate market by as low as 50000 dollars via joining some building projects or students’ dorms and still get a good profit out of it

Real Estate Companies Profits the Most

There is no point in denying the fact that real estate companies work to make money but that is being understand quite wrongly in general all around the world and Turkey is not an exception. These companies usually get around three percent commission out of their sales, but that money comes out of the owner of the real estate and not the buyer itself. In short Turkish real estate agents are merely doing their jobs rather than trying to get money out of the investors.

One Can Have a Quick Profit

Due to the massive growing size of the real estate market in Turkey many investors enter the market expecting that they would get some quick returns on their investment. This is simply not the case as time is an important factor in making a profit in any real estate market and many has lost a lot of their money due to their own lack of patience.

All Real Estate Companies are the Same

Your experiences with a real estate company may change from one to another as no company is the same with the other. Do not assume that all the companies are swindlers or are incapable of helping you out properly. Instead, go to your embassy and inquire about the trustworthy real estate companies that can help you out in finding the best investment for you.

Luxurious Regions Can Have Cheap Accommodations

There really are no cheap accommodations in Turkey, period. This is not to say that Turkey only offers expensive options but if your real estate agent is promising to sell you a cheap accommodation in a rich area, it is either wrong advertising or your investment will be a very old and bad house, not a cheap one as renovation costs can reach mind-blowing levels for certain houses.