When is the best time to buy and sell a home in Turkey?
The trends of Arab and foreign investors vary in Turkey , and their demand for real estate investment increases in its various forms and forms , such as investing in towers , residential complexes , offices , shops , lands , and others .
However , the political and economic conditions that the world is going through , and the circumstances that include some nationalities and not others , may occupy the minds of real estate investors regarding buying or selling their real estate , so what is the appropriate time to buy and sell a house in Turkey ?
RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest
Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .
The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .
The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .
Maslak is one of the main central districts of Istanbul and it is one of the fast-growing areas of the city .
Maslak area is close to transportation links that will take you to all parts of the city in a few moments , and you can easily access the main areas and sights of the city .
Maslak is the ideal area for investment in Istanbul , where it promises high profits and high returns on investment in a few years .
The project is located only minutes away from Taksim and Levent , not more than 5 minutes from Bosphorus , and 25 minutes from Istanbul's third airport , which gives it strategic and investment importance .
The project is located near the metro station and public transport .
The project is located in the Cendery Valley , among the regions of Istanbul that have gained the highest value .
The project is located next to Maslak and Levent , which provides a pleasant life with transportation opportunities .
The project attracts attention through its location close to shopping centers , arts , health facilities , transportation and education centers .
All the project details in this link : RH 163
Certainly we cannot predict the future , but we can in turn make the right decision based on the information we have . The decision to sell or buy a new home in time may seem more difficult than saying that , and when making these decisions , the only thing we look at is the financial situation , do we have the funds or not ? In the case of huge budgets , it is preferable to make a decision based on the information we obtained through better searches , as you should not make a decision to buy or sell your property just by looking at the money .
In this article , we will review the experts ’estimates from the economic and real estate sectors , which saves you time and provides you with more accurate ideas . There are some points that we need to keep in mind regarding the best time to buy or sell a house in Turkey .
Real estate markets differ from each other
There is no single specific type of real estate and seller , there is a local real estate market and hundreds of homes that are bought and sold every day . News about the real estate arrives at any time of the day , and you can get information about high or low prices and therefore have the necessary information for the decision to buy or sell .
Real estate prices vary greatly and noticeably even in one region . If you want to buy or sell a house in Turkey , the first thing you should do is look at the square meter prices for the regions , and you should also collect the most amount of information about the area , is it secure or investment and what services are available in it . You should be in contact with a trusted real estate broker who is well versed in the area and is interested in getting updated market information .
Interest rate changes
Most people need home insurance or a loan to buy a home , so the best opportunity for someone who wants to buy a home is when the interest rate is low in the long run . The interest rate for long-term loans these days ranges between 1.10% and 1.20% . If there is a sharp drop in these percentages , you should not miss this opportunity .
Many who want to buy a home closely follow the interest rates and easy opportunities for loans , even when they are surrounded by these opportunities they make an easier purchase and agree to pay a little more .
RH 80- Apartments with Bosphorus view and suitable payment plans in Sisli
A first class residential and investment project in the center of Sisli , specifically in the fast growing Bomonti area .
The project is located in one of the most famous areas on the European side of Istanbul , Bomonti district , a growing area that attracts the attention of investors at the moment , which is characterized by easy access to the most vital places in the city , and its proximity to shopping centers , airports , hospitals , universities and schools .
The project location is just 8 minutes away from Taksim .
This project has been designed in line with the highest quality standards in real estate in Turkey .
All apartments have private balconies with views of Istanbul or the Bosphorus .
The project includes special facilities that provide residents with comfort and entertainment and meet all their needs such as swimming pools , gym, walking paths , sport courts and restaurants , in addition to surveillance cameras and security .
Invest in this project today and benefit from its prices which will increase by 40% after the completion of the project .
All the project details in this link : RH 80
Institutionally , the spring is the period when home sales are at their peak . Mobility statistics also indicate that the movement of people is particularly noticeable in May and June . Families with school-age children generally prefer to move to a new place with the end of the school year , so they make the purchase either in the spring or early summer .
It appears that the increase in purchases will be by the end of the year , along with the spring months . Construction companies that want to achieve year-end goals increase sales by launching new campaigns .
If you have a home that you want to sell , you should prefer times when competition is less . In other words , you should not prefer periods when competition is intense , such as spring , summer and the end of the year .
We can easily find a home for sale in the area we want from many real estate sites on our mobile phones , just like anything else . You can sell your home more easily by taking advantage of the opportunities presented by real estate sites .
Money is not everything
Selling or buying a home is not just an investment , homes are sold or bought according to several reasons .
Many people can put off house purchases in times of economic crisis or when the exchange rate is high .
There are several reasons that create opportunities in this field to sell or buy a home , and it is not difficult to notice the optimal time and the appropriate opportunity to sell or buy a home if a good research is done and the time is sufficient , and you will still have to follow the real estate sites on the Internet for a period of time , and in the same time , you should monitor and evaluate the local real estate market with the help of a real estate broker .
Low interest rates are an important advantage
The interest rate for housing loans is 0.99% in many banks . This rate is very good compared to previous months . This is an ideal opportunity to purchase a home . Interest discounts offer great benefits . Another advantage is the prices of houses that have decreased in several provinces during the past two years . And at least the prices did not rise as they were in previous years and remained stable , and that even there can be homes under the market value in proportion to the need . These are the first five features that come to mind when buying a new home .
RH 229 - Apartments with Bosphorus view ready to move in Beykoz suitable for vacations
A residential and investment project built on a land area of 4.546 square meters .
The project consists of one 7-storey building and includes 100 housing units .
The options for apartments in the project vary between 1+1 and 2+1 , with areas ranging from 80 - 227 square meters .
The project is located in Beykoz area , on the Asian side of Istanbul .
The project is located near the highways , which offers you easy accessability to everywhere .
The project is near the Bosphoros strait , and it has a forest view .
For more details about the project : RH 229
What are the advantages of buying a property in Turkey ?
- Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .
- Obtaining a residence permit , where foreigners who own properties in Turkey , whose price is less than $ 250.000 , are granted a residence permit that is renewed annually . Real estate residence permit in Turkey is granted to the landlord , his wife , and his children under the age of 18 .
- Real estate in Turkey is the cheapest real estate investment in Europe , where real estate prices in Turkey are considerably cheaper than those in Europe , with similar features in infrastructure , and similar in structure of developed European countries .
- Real estate investment in Turkey provides a profitable investment return , based on the economic activity and rapid urban development , and the strength of tourism in Turkey , which is best reflected in the periods and tourist seasons , through the demand for rental homes during those seasons distributed throughout year .
What are the steps to buy property in Turkey ?
First , you must choose the safe property that meets your request and needs and corresponds to the budget allocated for the purchase , through :
- Ensure that the real estate developer in Turkey is a well-known company that has implemented a number of different projects previously .
- Study the location of the project , whether it is for investment or residential , and know the services available in it and its proximity to services and public transport .
- Study the views of the project , whether it is internal to the green areas in the project and the swimming pools , or external views of the city or the sea or forest or others .
- Compare the prices of the project with the prices of the existing projects in the area , and find out the reasons for the price difference in case of a clear difference .
- Ensure the quality of the materials used in the finishing and cladding , which are written in the contract for the selected project , and that they conform to the typical apartment in the project .
Second : Knowing all the costs and expenses necessary to buy a property in Turkey :
- The purchase of real estate in residential projects in Istanbul and in Turkey in general , which includes various services and facilities , such as swimming pools , clubs , gyms , security system and outdoor gardens , entails a monthly payment called Aidat , which is calculated according to the area of the property ( on average between 2 TL to 4 TL per square meter ) , this amount varies from one project to another depending on the existing services and the level available for each project .
- Annual taxes for the property , which are calculated depending on the area and the municipality to which the project belongs , whether in Istanbul or in other cities , so that it is estimated annually between 0.003 to 0.006 of the annual evaluation of your home provided by the municipality .
- Tapu fees or title deed , where an estimated 4.4% of the value of the property purchased is paid , usually shared between the buyer and the seller .
Third : After you have a complete idea of the project and its features and the costs to buy the property , it is necessary to follow the routine steps to complete the procedures of ownership of the property in Turkey , which are as follows :
- Get your vergi numrasi or tax number from Tax Department in Istanbul or the city where you purchased the property . This number is given to every foreigner in Turkey , to facilitate all legal matters and transactions , and can be obtained through the passport .
- Open a bank account in one of the Turkish banks , to transfer funds from the country of residence to the account in the Turkish bank .
- Upon signing the purchase contract between the buyer and the landlord , the following documents are required :
- A certified copy of the buyer's passport and a recent personal photo .
- Obtaining a security approval , and obtaining security approval is required for all foreigners at the first purchase of the property .
- Ensure the complete documents of the project construcion company , such as : the license to establish the company and its record in the Chamber of Commerce .
- A copy of the property ( title deed ) in case the property is ready for delivery , to be transferred from the name of the construction company to the name of the buyer immediately after the payment of the agreed payments , and is extracted deed or title deed by the Land Registry Office within the area where the project .
- Notarization of the contract in the case of the purchase of real estate within the project under construction at the notary or Noter to give the official version of the contract .
- Obtain an earthquake and natural disaster insurance policy ( DASK ) , as most Turkish banks offer earthquake and disaster insurance for real estate , which is mandatory unlike general home insurance .