Is buying a property in Turkey a good idea?
For many clients, buying a property in Turkey is a great decision. They buy for several reasons: as a permanent place for them to live, as a holiday home or as an investment.
Quite often the person buying a holiday home sees a huge lifestyle benefit and sometimes becomes so comfortable in the area that they later decide to relocate or retire here.
You may enjoy a better climate, a lower cost of living and, often, a more active social life than you experienced at home.
There’s a chance of making money too, as property values can increase substantially. In fact, such are the investment opportunities in Turkey that many people ( many of them Turks ) are buying property for that purpose.
But think property prices might not increase in the next few years in Turkey, because of increasing interest rates.
You probably need no reminding that there is no guarantee that properties increase in value. You will have seen, over the last few years, that in bad times their value can fall dramatically. Prices have increased since the dreadful years of 2008/9/10, but there is political and security uncertainty in Turkey which is currently making many people question whether now is the time to invest in Turkey.
So, buying a property in Turkey is not for everyone - none of us have a crystal ball to see whether the property market will improve or deteriorate. It is seldom economically attractive if you are only going to live here for a year or two. This is because the acquisition and disposal costs are both quite high.
If you decide to live in Turkey, you can rent an accomodation for a year or two.
By the time you know the area you can decide to invest for a home.
Nor is buying a property in Turkey entirely risk free from a purely technical point of view. There are risks associated with buying a property in any country and Turkey is no exception.
Do not overestimate or fear the risks. The vast majority of transactions turn out to be danger free.
Making sure you get expert guidance will reduce your risk and increase your chances of a good experience , whether you’re buying a holiday home, an investment property or as a means of relocating to a new country.
In fact, one of the few things that all the experts agree on is that buying a property in Turkey really does require some specialist advice.
Horror stories and dangers
Generally speaking, as long as the appropriate checks are carried out, in Turkey there is no more need to worry than there is when buying at home.
Unfortunately, many people buying property in Turkey take little or no legal or professional advice and are far too casual about the purchase of property and about the signing of legal documents. If they go about things this way it can turn out badly.
They may find that there is no title to the property, that it was built without planning permission or sometimes, that it does not even exist!
we do recommend you, when buying a property in Turkey deal with reliable and reputable estate agent specialist. When you search and find the right people to deal with you will be fine.