Selling property in Turkey at a cheap price

Talking about the price of the property in Turkey before buying it, and whether it is possible to obtain it at a price lower than its real price is the most prominent talk in any negotiation between the buyer and seller, and the real estate investor always needs to know the cases in which the property is located at less than its usual price, "the market price" in order to Seize the appropriate opportunity to own property.

A comprehensive and enough report from Fanar Realty on this topic, continue reading

Are you looking for cheap real estate in Turkey?

There is no doubt that the search for real estate with recreational and service advantages is the most important goal for property seekers in Turkey, but not everyone can buy these properties, so they are looking for cheap properties for sale in Turkey. 

Your natural right is to search for real estate that suits your financial situation and the money you save to take the step of real estate ownership, but beware that this right, or the circumstance in which you are, leads you to fall into many unfortunate mistakes and make you regret buying the property. 

Not every cheap property is the right choice for you.. You must ask yourself: Why is the property price here cheaper than others? In the coming paragraphs, we will tell you the reasons why some properties in Turkey are cheaper than others, and you will choose the ideal way for yourself to find a cheap property without regret later because you know the real reason for the low price of the property and why it was sold at less than its normal price.

Reasons to sell real estate in Turkey for less than its price

Two ideas come to mind when talking about a cheap property in Turkey:

• The first idea: it is the stroke of a lifetime and should be used

• The second idea: that there is some trick or trick and you should be careful

In fact, the reasons for the decrease in the price of real estate are more than the simplicity of the previous two ideas, but we can say that there are types for each of the reasons for selling a property in Turkey for less than its price, which are:

• Reasons related to the location of the property

• Reasons related to the specifications of the property

• Reasons related to the conditions of selling the property

• Reasons related to legal problems

We will address each of these reasons separately and with a full and comprehensive explanation, in order to improve the choice of your property without falling into any problems that lead to regret or disappointment with the purchase of the property.

The effect of the location of the property in Turkey on its price

The location of the property is a major reason to make the value of two properties similar in many specifications, different in price, with a difference that is sometimes very large. For example, 

The property is in a non-vital state

Real estate prices in Istanbul are much higher than real estate prices in many other states, but what will you gain from owning in a remote area, or in a state where there are not many job opportunities, or good investment opportunities, in any case.. this decision is up to you.

If you find the possibility to work and live normally in a non-vital or non-vital state Well-known, do not hesitate to own your property in that area, but if the reason for your going to it is just because it's real estate prices are cheap, we advise you to wait and not be reckless. 

In the following table, a comparison between the price of an apartment of 100 square meters in Istanbul "on average" and the average price of an apartment with the same specifications in other states

Neighborhoods far from the center of the state have low prices

As well in the same state. You may find two properties with similar specifications, but because the first is in a tourist or central area, and the second is in a rural area..there will be a big difference between them in the price. In general, neighborhoods can be arranged according to prices from the most expensive to the cheapest according to the arrangement next one:

• Upscale neighborhoods

• Tourist neighborhoods

• Central neighborhoods (in the center of the state)

• Neighborhoods close to the state center

• Ordinary neighborhoods

• Neighborhoods far from the state center

• Neighborhoods on the edge of the state

• Popular neighborhoods

• Countryside and villages

Of course, here we stress the importance of choosing the right neighborhood for you, close to your work or close to transportation. If you buy a property in the countryside of Istanbul, for example, and your work is in the " Al Fateh" area, which is the center of Istanbul, you need two hours a day back and forth... Here it will be Your choice of property is a bad choice

Other reasons related to the location of the property

Among the things that make real estate prices lower than each other in the same neighborhood:

• Far away from markets and commercial centers

• Far from transportation stations

• Far from universities and schools

• Far from government and municipal institutions

If you want to get cheap real estate in one of the neighborhoods, you should think about places far from the service and vital facilities, so you will dispense with some privileges in exchange for obtaining the property at the right price for you.

The effect of property specifications in Turkey on its price

It is not necessary if the real estate is in the same neighborhood and area, it does not mean that they are equal in price, the prices vary according to the specifications of the property, for example: 

1.Real estate services 

Real estate that is within residential complexes is more valuable than real estate in normal neighborhoods that are not subject to the services provided by Residential complexes 

2.Areas and styles 

Real estate prices vary according to the size and style of the apartment, and the interior finishing of the apartment, and apartments with large areas are always more valuable than small apartments.

Choosing an apartment with a small area is important for you if you want to search for cheap real estate, but you may face a problem if the number of your family members is large, small apartments will not suit you at all, and do not involve yourself in buying a small apartment for your large family, here you will regret less than a month after your residence In it when you find it has narrowed you down, and you have no place to receive guests, and the house does not calm down from the intensity of the noise in it.

3.Floor

The floor number in the same building plays a role in determining the price. Often apartments located in the basement, entrance, or terrace are cheaper than other apartments in the same building.

4.The view

Apartments with a balcony are more expensive than apartments without a balcony, and the beautiful view plays an important role in increasing the price, so if you are looking for cheap real estate in Istanbul, you should give up the idea of having an attractive view of your home.

Conditions of selling the property and their impact on the price

There are circumstances that force the seller to offer his property for sale at a cheaper price, and some sellers say that they are in a hurry to sell their house.. These people can get a cheap property from them with good specifications, and from the circumstances that force the seller to offer the property in Turkey for sale at less than the price market:

• That the seller is in financial difficulty and needs to sell his property to relieve his distress

• That the seller has to travel outside Turkey for a long time

• The seller may want to buy a house that is larger than his house, or with better specifications, but he does not have enough budget for that, so he is forced to sell his current house to save the price of the new house.

• If the seller fails to invest the property or does not have experience in real estate investment, he sells it

• That the house is humid, has poor ventilation, or does not have good natural lighting.. In this case, we do not recommend buying unless you want to invest in the house after repairing it.

These points are the most famous circumstances that make the seller obliged to offer his house for sale at a low price and to be in a hurry to do so.

Cheap real estate due to legal problems

One of the reasons for the cheap price of a house in Turkey may be the presence of some legal problems, such as:

• Having a mortgage on the house

• There is a problem of limiting the inheritance of the property

• The house is located in an illegal area

• The presence of a house demolition or eviction warning

The legal safety of the house must be ensured by the Land Registry Department in the area in which the property is located. Attention and caution must be taken to avoid becoming victims of such sales, which have legal problems and courts, and you may not be able to benefit from your property.