Your real estate investment in Turkey is the most appropriate option to save and develop your money, benefit from its profits, as well as benefit from the services and legal advantages of real estate ownership in Turkey, and we often hear concerns from recent investors in the real estate sector in Turkey about the failure of real estate investment, or their inability to achieve their profitable ambitions from this investment.
We say it frankly that there is no 100% guaranteed investment field, but there are reasons for success and failure. If you follow the reasons for success and avoid the causes of failure, you will be safe. This is the focus of our article for today, as well as informing you about the advantages that real estate investors in Turkey get.
We wish you a successful and useful reading.
Reasons for the failure of your real estate investment
Your investment in Turkish real estate is a smart idea, but the idea alone is not enough, you must be away from the reasons that lead your project or idea to the abyss of failure, such as the following reasons, for example:
The need for financial liquidity:
Investors usually tend to search for investment activities that provide them with money and cash when they need it, this matter may not be available in the case of real estate investment because the property is not sold at an ideal price in a quick time, but it is a long-term investment
So it must to put in your accounts not to spend all your money on real estate investment, and then later to have liquidity, so you find yourself obliged to sell your property, and also not to borrow a large amount in order to own a property, and then you cannot pay it early in short,
so that the need for financial liquidity is not a reason for failure Your real estate investment in Turkey, you should seek a feasibility study for your investment, and buy a property with your surplus money, not the money you need soon
Not getting the right price for the property
Many are afraid of the idea of cheating in real estate prices, so it should be noted that this matter in Turkey does not constitute a concern for the foreign buyer because Turkish law requires real estate sales to foreigners to have a real estate appraisal document.
This document is issued by specialized Turkish companies and approved by the Turkish government, which makes the chance of defrauding foreigners very small. In any case, in order to avoid price deception, focus on the following:
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Advantages of the property
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Is it in an apartment complex or not?
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Is it near transportation?
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Is it commercial or residential?
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Areas, room distribution, views, etc.
Real estate ownership costs and title deed installation
Whoever has tried to buy a property in a European country or an American state, it will come to his mind that he will face the same costs while establishing the ownership of his property in Turkey. Real estate taxes in Turkey are not exorbitant and are equivalent to 4 to 5% of the property value, shared by both the buyer and seller, while If we want to talk about real estate ownership in the United States of America, real estate taxes may reach 10% on the buyer alone.
See: Real estate ownership taxes and fees in Turkey for details
Fear of low returns and high expenditures
Some are also concerned about the imbalance between the returns that the investor derives from real estate and the high expenditures for purchasing or repairing the property.
Certainly, the turnover of capital for real estate in Turkey needs approximately 15 years as an average, but in general, the expected monthly return from real estate investment in Turkey Turkey is somewhat good, and to get a higher yield, you should think about the following:
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Choosing Istanbul or another tourist state to be a destination for your real estate investment
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Think high-end and touristy neighborhoods
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Choose properties close to transportation
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Remember that the rental yield for offices and shops is higher than the monthly return for residential apartments
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Remember that furnished properties have a much higher return than unfurnished properties
Also, when thinking about renovating the property, be sure to buy it at a relatively low price, and take care of the restoration and decoration in a thoughtful way and change the real estate value of your property for the better.
Fears of lack of adaptation and stability
Also, one of the things that lead to the failure of your real estate investment or ownership is the lack of adaptation and the difficulty of feeling stability in the area in which you live. Therefore, it is very important to inquire clearly and thoughtfully about the area as a whole, its demographics, as well as the property specifications.
Among the reasons that impede your continuation in the property are the poor specifications in it, such as the lack of sufficient ventilation or lighting, the presence of humidity, as well as the inconvenience, whether from neighbors or the street, or the presence of a factory, factory, or car wash, for example, near your residential address, all of which leads you not to adapt
Mortgages and Lending
Also, one of the things that hinder the success of any real estate investment, whether in Turkey or elsewhere, is the issue of mortgages and bank loans, which at the beginning may help you to provide urgent financing to purchase the property, but it will be burdensome for you at a later time and when you start paying the installments, especially if it is These installments are not commensurate with the monthly financial liquidity in your hands.
Also, borrowing is one of the obstacles to real estate investment, because you will find yourself trapped in debts until you pay off everything you owe, and this delays the time needed to start benefiting from the returns of the property, and the profits of investing in it.
Fanar Realty provides you with real estate offers in installments, so you can agree with the construction company on the value of the down payment and the remaining payments, and choose a convenient arrangement for you to pay your installments,
This method is considered one of the best plans for financing your real estate investment if you do not have the necessary amount to own, and it is also better than a mortgage, because you are dealing here with the construction company directly and not with the bank.
We have listed the most important reasons that hinder the natural success of investing in the real estate sector in Turkey, and we have listed the appropriate solutions for any obstacle or problem, and we are now moving to talk about the appropriate means to obtain a successful real estate investment in Turkey
Ways to make your real estate investment in Turkey successful:
Ideas and methods that will help you maintain your real estate investment in Turkey successful and with good profits and returns for you must come to your mind, and the most important of these methods are:
Invest with a stable and independent capital
This is the main reason for the success of your real estate investment in Turkey, you will not lose what as long as the capital used for this is independent and away from your natural need for financial liquidity.
And when you sell the property after about three to five years at least, you will get a good return on the monthly rent, and a high price of about 70 to 80% at least.
Individual investment is more successful than participatory investment
Independent real estate investment is always better than participatory investments because long-term investments do not guarantee the continuation of the partner until the fruits of this investment begin.
Also, try to make your investment not related to the establishment of a company, for example, employees and other things that cost you, invest at least at the beginning of your activity in real estate on your own, and it is okay to invest a small amount, but at least you are on your own and you will not have to deal with emergency circumstances, such as the bankruptcy of your partner or his need Selling the property, failing to manage your company's costs, or other problems and obstacles.
Also, when you are the sole decision-maker in your real estate investment in Turkey, you can take any action such as selling, repairing, renting, buying or expanding an activity without having to take the opinion of partners who cannot proceed with you to develop your investment in the way you think
Take care of your real estate investment advertising campaign
Paying attention to media campaigns and advertisements is mainly important with regard to successful real estate investments because today people follow all advertisements on social media, your presence in this field is very important and has an impact on your success and reaching interested customers.
Also, when advertising itself, you should take care of the way you depict your properties, shooting angles, accuracy, lighting, and other signs that reflect your true interest in promoting and marketing your investment in all available ways.
Develop your real estate investment and plans
Don't stand still..
And do not be satisfied with a little, even if you start from this little, this does not mean that you are satisfied with it
In order to be a successful and distinguished real estate investor, you must work on:
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Expand your real estate activity horizontally and vertically
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Study your investment plans and address the gaps and mistakes that you have fallen into
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Keeping abreast of the latest real estate information legally and commercially
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Watch and follow the investments that compete with you, and take advantage of them.
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Gain additional experience
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Permanent review of your real estate activities and study of the changes that you can make to improve and develop your real estate activity and investment in Turkey
In this brief report, we have presented an important approach of interest to real estate investors in Turkey, to identify the distinguishing signs that determine whether real estate investment will succeed or fail, the reasons that lead to any of the two options mentioned, and the treatment of challenges that may face your real estate investment in Turkey.
