العربية
Investing in Turkish real estate is lucrative, given its central global location, robust economy, quality industries, trade, human capital, and the flourishing Turkish tourism sector.
However, entering this investment realm requires caution and awareness to avoid disastrous mistakes leading to significant losses.
Here are common mistakes to steer clear of:
-
Dealing with Fake Real Estate Companies:
The virtual world, especially on social media platforms, has given rise to numerous fake real estate companies. They exist only in the online realm, showcasing appealing visuals and enticing offers.
Avoid dealing with such companies and stick to reputable ones in Turkey with physical offices, recognized licenses, and positive client reviews.
-
Ownership in Non-Investment Regions:
Turkey consists of various provinces with varying levels of importance and investment potential. Collaborate with a reliable real estate consultant to identify promising investment cities and regions, ensuring the success of your investment over time.
-
Buying Unauthorized Properties Subject to Demolition:
Before purchasing any property, visit the Land Registry and Cadaster Directorate with a real estate consultant or lawyer to verify its legal status. Ensure it has the necessary construction licenses to avoid investing in a property susceptible to demolition in the future.
-
Treating Residential Property as an Investment:
Distinguish between residential properties suitable for family living and those geared for investment. Understand the characteristics of the area and the property itself, considering factors such as size, layout, and location to determine its investment potential.
5.Insufficient Knowledge of Laws and Real Estate Investment Reality
Educate yourself on Turkish laws related to foreign property ownership and real estate investment regulations. A trustworthy consultant or real estate company should provide comprehensive information on the legal landscape and the realities of investing in Turkish real estate.
6.Signing Contracts Without Full Understanding:
Carefully read and understand all terms in property purchase and investment contracts before signing. If any clause raises concerns, request modifications or deletions to protect your interests.
-
Hastily Selling Property Without Waiting for a Defined Period:
Investing in real estate requires patience. Rushing to sell a property without waiting for a specific period, typically ranging from 3 to 7 years, may result in missing out on optimal profit margins.
Strategic waiting allows you to capitalize on market fluctuations and increase the investment’s profitability.
Real estate investment in Turkey is considered secure with lower capital risks, requiring collaboration with a real estate expert for guidance. This expert can help you navigate the positives and negatives of Turkish real estate investment, allowing you to start property ownership and generate periodic profits.
