Investors often look for ways to help them buy an apartment in Turkey for them, and the best and easiest way that they can follow in order to find a suitable apartment for them in the place they wish to invest in is to go to one of the well-known real estate brokers or seek the help of companies specialized in buying and selling real estate in Turkey. Since opening the door to foreign investment in the field of real estate inside Turkey, the commercial movement in this field has been active in an unprecedented way, and foreign investments in this sector have increased, reaching millions of dollars.
Why do foreigners like to buy an apartment in Turkey?
The main reason for foreigners to invest in real estate and apartments in Turkey is due to their desire to invest and operate their money in this very vital area inside Turkey in order to make profits continuously by renting these apartments to tourists who want to spend enjoyable times of recreation inside Turkey, or for people residing for work and need to rent these apartments.
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Astonishing statistics about buying apartments in Turkey
During the first half of 2019 AD, the rate of residential apartment purchase jumped by 70% compared to the previous year, as sales of residential apartments purchased by foreigners amounted to $ 3 billion.
The nationalities of foreigners who purchased apartments vary. At the Arab level, the largest proportion of the purchase of an apartment inside Turkey was the share of Iraqis, who bought more than 8,000 homes during the year 2019, and other nationalities included buyers from Saudi Arabia, Iran, Russia, Germany and Britain, as well as different countries in Europe.
What are the real reasons behind foreigners buying apartments?
There are many reasons why foreign investors buy an apartment in Turkey, and among these reasons are the following:
- The profitable exchange rate at the present time, unlike what it was 3 years ago; whether buying them in US dollars or any other foreign currency, they buy the apartment they want and keep a good currency difference from the Turkish lira after completing the purchase.
- Reducing the value required to obtain residency in Turkey from one million US dollars before the year 2018 AD to 250 thousand US dollars has made a tremendous turnout by investors to buy apartments inside Turkey.
Important advice when buying an apartment in Turkey
- The apartments to be purchased must contain the basic services necessary for a decent life for the people who rent them from electricity services and provide good water service without interruption, sanitation services are working well … etc among the basic services.
- It provides maintenance services for the apartment within the residential complex in which it is located, and maintenance services also include maintenance of swimming pools and keeping them clean always, and includes arranging and organizing landscaped gardens around the apartment, gyms, and saunas.
- The presence of a security guard for the housing complex in which the apartment is located is very important and maintains the property of the tenants inside the apartment without fear of being stolen.
- Make sure you know the amount of fees that must be paid for shared utility services that are paid annually, which are collected by the residential complex in which the apartments are located, and all apartments must pay them, and the owners who do not pay these fees can be sued.
- The cost of an apartment depends on a lot of factors, as the apartments that are located on the lower floors of the residential complex are less expensive than the apartments on the upper floors, and the location of the residential complex controls the prices of the apartments, so the closer the residential complex is to the coastal places or the city center in which it is located. The closer they are, the more the prices of apartments increase, and the further away from the city center and coastal places, the more prices decrease.