5 Reasons Why It is Smart to Buy Property in Turkey?

Investors of 21st century now see the option to buy property abroad as a good and low-risk opportunity. However, the location of the real estate is of great importance for such great transactions. Therefore, investors all around the world wonder if it is a good idea to invest in Turkish property. At the turn of the century in Turkey, banks made mortgages a prominent factor of their portfolios, and the building sector embarked on a massive campaign to modernise and update housing. To illuminate the topic and to give answers to the interested parties, this guide gathers information about Turkish real estate under several headlines.

Housing is still very cheap compared to other countries

The real estate market of Turkey was late to enter the international market; hence the low prices of homes quickly attract foreigners from many different nationalities. Low prices have enabled many customers to buy the property outright without mortgages or bank credit.

The variety and the innovation in the real estate sector is immense

The developments in the real estate sector of Turkey in the last two decades have provided the buyers with an incredibly diverse portfolio. Foreign buyers have extensive choices of budget and luxury, off plan, new build, resale, and renovation apartments and villas. From the basic and budget to luxury homes with sea views and all the latest modern amenities, such is the diversity; buyers do not have to compromise on their dream a home.

Ideal for long term investment

Turkish property is still increasing its value and creates a great opportunity for high returns on investment. This quality of Turkish real estate makes the sector a desirable option to invest in for long term results. Experts often recommend that the real estate market is the best long-term investment to make, but buyers in Turkey have added advantages over other countries such as Spain or Cyprus, where property prices have already peaked. As said, Turkish property keeps increasing its value.

The cost of living

For buyers who are also residents, another reason is the cost of living in Turkey. Especially because of the current exchange rate between the Turkish Lira and other currencies creates very advantageous circumstances for foreigners with foreign income.

Location

Turkey is the 37th largest country in the world and a mass of towns scattered from the east to the west attract foreign buyers. Most settle on the Aegean and Mediterranean coasts apart from Istanbul, which tends to attract working expats. With its strategic location, Turkey is a great option for both the investors and for people who are looking for a retirement home.