Buying under construction property in Turkey
Owning an under construction property in Turkey is one of the most desirable types of real estate investment, as it secure stable profits for the investors
But still real estate investment requires a relatively large capital, and therefore for small and medium businesses, this investment constitutes a financial mass that is not simple for them, therefore it is important to know all about buying under construction property in Turkey before the purchase
Important information about buying under construction property in Turkey
under construction properties in Turkey are considered an ideal investment opportunity.
From which an investor can achieve profits and financial returns from this real estate investment.
As he can complete the work of the property and sell it at a higher price
Also, under construction properties in Turkey are considered really low priced compared to the price of ready properties. Which makes it the perfect choice for saving money and investing.
Also, buying under construction property in Turkey is a better option for those who do not have enough money to buy a ready property.
Buying under construction property in Turkey, gives the owner more options to complete and develop it with better specifications that suit the owner’s own desire.
In general, any project needs at least 2 years years to be fully done, and this varies according to the number of buildings and apartments in it and also depends on the project area and the diversity of its services and facilities such as gardens, swimming pools, sports clubs and decoration water pools
But keep in mind that delaying the delivery of the project beyond the specified time means time, and money loss for the investor, especially if delivery problems occurred then this will coast the property owner a lot
That’s why it is important to get the help of a professional real estate agent specialized in the Turkish real estate market before buying a property, especially if it is under construction.
Advices for investment in under construction property in Turkey
The investment features of the project should be detailed by the construction company, also the features of the project in general should be the same as mentioned in the evaluation report and purchase deed
For a guaranteed success when investing in under construction properties in Turkey make sure to make early investment because the investment return ranges between 25% to 50% in some projects, and therefore an early investment in a project that needs few years to be completed, means a high profit that may reach 100% at the project delivery date,
This profit or return is at least 3 times higher than the highest rental return for a ready property, which averages 4% or 5%, and in the best cases may reach 8%.