Reasons to Buy Property in Turkey
Here are some of the Reason that encourages you to Buy Property in Turkey
1: Housing is cheap in comparison 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. Luxury properties are available, but in everyday towns like Altinkum on the Aegean coast, a 2-bedroom apartment is quite easy to find for buyers with a budget of £45,000. Low prices have enabled many customers to buy the property outright without mortgages or bank credit.
2: There is a massive portfolio to tap into
The growth of the real estate market and recognition of talented architects has boosted the property portfolio of Turkey to an incredibly diverse status. 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 as the diversity; buyers do not have to compromise on their dream home in the sun.
3: Ideal for long term investment
For those who are looking for a long-term investment, these prices have the potential to offer a lucrative return on investment. 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. With annual maintenance and upkeep, a well looked after property in Turkey has the mass potential for return on long term investment.
4: The lifestyle is laid back
Thousands of Brits have already bought homes in Turkey, and although the low property prices are a big lure, the laid-back lifestyle undoubtedly lures them here for the permanent living. Most prefer the coastal towns of the Aegean and Mediterranean so they can indulge in seaside living, but other places like the mountainous Uzumlu and inland towns of Ovacik and Hisaronu have also proved to be a hit.
5: The cost of living is low
For buyers living here, one reason for buying property in Turkey is the low cost of living. Pensioners are especially getting a good deal because the exchange rate from their currency into Turkish lira is netting them more than the average cost of living.
Although red meat and petrol are expensive, the weekly shop can turn out to be cheap if visiting the local markets for items such as fruit, vegetables, cheese, and olives. Regarding household bills, there is no television license, the council tax is a minute fraction of what it is in the UK, and facilities such as water can cost as little as £7 a month depending on usage.
6: Location, location, 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.
Popular places include the Bodrum peninsula, often visited by wealthy, international celebrities and Fethiye, that is particularly scenic. Altinkum has attracted British people thanks to its atmosphere nicknamed little Britain while Antalya is more European in its lifestyle approach. Dalaman is less spoken about however for the foreign property buyers there, it does feel like being at home.
7: The food, culture, and hospitality
Aside from the laid-back lifestyle and low cost of living, customers have also quoted the Turkish food, culture, and hospitality as major reasons to buy property in Turkey. The cuisine still focuses heavily on fresh ingredients to make delicious home-cooked meals, and it is like a Mediterranean diet, often called the healthiest in the world.
Turkish culture and hospitality also embrace foreigners, and an age-old proverb says every stranger is a friend. The result is that many different nationalities feel welcome in the country and enjoy indulging in a new cuisine focused heavily on healthy eating.
8: A simplified buying process
Foreigners were first able to buy property in 2001, and since then authorities have continually revised and simplified the process to attract investment in the housing market from overseas. Here at Spot Blue, we also check the paperwork of all properties to ensure they are legally in good standing. You can find more details about the process here, or alternatively, see our portfolio of property for sale across the country. Spot Blue office and location staff are here to walk you through every step of the process of owning your own home in Turkey.
