The development of a old property in Turkey is a good choice for foreign investors. The investor’s interest is focused on buying apartments in Istanbul, as it is the economic capital of Turkey.
The real estate market in Istanbul:
The real estate market in Istanbul is characterized by providing high profitable returns, and it is an active market.
In the past few years, Istanbul has witnessed a wide urban renaissance, where hundreds of modern residential and commercial projects with a modern urban style have been established.
If you are interested in buying a property in Turkey for investment or obtaining Turkish citizenship, you should see many important points related to the Turkish real estate market and development of a old property in Istanbul.
The most important factors that make your investment successful:
When you decide to enter the real estate market in any foreign country, you will face some concerns. We are in the Homes and Beyond group for real estate investment in Turkey, and we are interested in providing advice to the investor that will help him overcome his fears by introducing him to the steps he must follow to ensure a successful and safe investment.
You should take into account the choice of the city from which you will start your real estate investment, and we recommend that you can development of a old property in Istanbul, as Istanbul is the most active city in the Turkish real estate market and is the capital of tourism and economy in the country.
Here are the most important factors on which the success of your choice and investment depends:
The location:
When a foreign investor is looking for apartments for sale in Istanbul or prefer to work in development of a old property, he must choose the strategic location. The area in which to buy a property should also be a serviced area where hospitals, universities, schools, shopping centers and others are spread.
On the other hand, the value of the profit return for the region over the past years, and the value of the annual increases, must be studied.
Choosing a good location is the main factor that determines the success of your investment.
Property prices:
When a foreigner decides to buy apartments in Turkey without knowing the prices of the areas, the investor must inquire about the price per square meter in the area in which he wants to buy the property.
We advise the investor who wants to buy apartments in Istanbul or development of a old property to communicate with reputable real estate companies with extensive experience in the Turkish real estate market to take real estate advice and have extensive information about property prices in Istanbul.
Property Specifications:
Studying the foundations of the project is one of the most important steps that you should take, as you should inquire about the quality of building materials and internal and external finishes, such as sound insulation and thermal insulation, especially if the project site is in a crowded area, and whether the building is earthquake-resistant and complies with the conditions approved by the state. but if your investment in development of a old property, here you have to take care of the conditions of the building material.
development of a old property in Istanbul:
when you take a decision to enter the real estate market in turkey and development of a old property, to invest your money. We advise you to focus on some important details.
To development of a old property, you have to choose the good location. Some investors prefer to development an old property in the central locations in Istanbul, like Taksim area or Fatih district.
Why I have to development of a old property in the central location?
The price of new property in the city center is very high. If you want to development of a old property, you can buy the property in a good price. It will be cheaper than a property in a new building.
You can make a great investment in the real estate market in Turkey, by development of an old property.
Cheap apartment in Istanbul:
Some investors prefer to search for cheap apartments for sale in Istanbul to development of a old property, in other residential areas far from the center, where the budget is less and the returns are good.
In order to ensure a safe investment, all you have to do is determine the budget for buying an apartment in Istanbul, and choose the strategic location, taking into account the previous points.
To find out more details about apartments prices in Istanbul, contact our team at Homes and Beyond Real Estate Investment Group and choose the perfect apartment in one of our investment projects that cover all locations in Istanbul.
Development of a old property for rental investment:
Development of a old property in Istanbul is not easy, and not hard job.
Even that, some investors prefer to development of an old property for rental investment.
The investor buys an old property in the city center, and development of an old property. When the property will be ready to move, the investor provide the property to rent.
It worth to mention that, properties in the central location like Taksim and Fatih areas, are very easy to rent. And the profit return is very high.
Should I invest my money in commercial or residential properties?
We receive many questions about investing in development of an old property or commercial properties. To answer your questions, we made the following comparison between commercial properties and residential apartments:
- The capital of investment in development of a old property is less than the capital of investment in shops.
- Profitability returns for apartments are less than those provided by shops.
- Development of a old property resale is faster than commercial properties resale.
– The annual tax on commercial property is higher than the tax on residential property.
– Residential apartment rental contracts are on an annual basis, while in shops, the contract is for several years.
