Having a second home abroad is no longer a luxury, it is a well-deserved reality of modern life. While there are many countries that allow foreigners to buy and live in<f a property in their own country, prospective home buyers often have the greatest right to know why they should buy properties in Turkey. They are looking to help them decide if this country is the best investment for their real estate portfolio and if they have decided to move there is a viable place for their future.
Before the early 2000s, the Turkish real estate market could not outrun other countries in terms of modernization and innovation. The problem was that there were no mortgages held in the domestic market and that generations of families always lived in the same house. When trained architects struggled to find a market for their expertise, they often sought abroad.
Is there anyone who wants to avoid owning a holiday home in Turkey? Depending on your goals, Turkey can be a great option to move, post-retirement, or invest. This vast country has an excellent atmosphere, a variety of lively and vibrant cities, and attractive seaside resort areas. One of its most appealing aspects must be its cheap home pricing.
There are many possible explanations for this. Firstly, Turkey has spent the last decade reinventing its market, and property owners now have access to thousands of affordable off-plan, newly built, and resale apartments and villas. Residence options ranging from seaside getaways to mountain retreats are unbelievable. Affordable prices create a good potential for capital gains if you intend to stay in your home for an extended period of time. If you are considering selling your brick-and-mortar investment to turn it into cash, you are in a global market where you can make the most of your promotion since both Turks and foreigners are included in the market.
Having no limit to your options for buying a cheap apartment or villa is an alternative to consider, so you can easily find a place that fits your lifestyle preferences. Whether you decide to live in a popular city center or a peaceful village, the Mediterranean and Aegean coasts offer you many alternatives. When some homeowners decide to sell their homes quickly, they sell their properties affordable. If you are looking for homes below market value, please contact Tolerance Homes to be notified of new additions to our portfolio.
Wide Variety of Choice
Finding luxury real estate in Turkey is not difficult than you might think. You will have a wide range of properties to review in various cities. As a result, you should first decide what your criteria are and make a selection of your city or district options. Then it will be more comfortable for you to start looking for the ideal luxury property for yourself.
With the growth of the real estate market and the prominence of great architects, Turkey’s real estate portfolio has shown tremendous diversity. Anyone considering buying properties in Turkey has a wide range of budget and luxury, off-plan, newly built, resale and renovation apartments to choose from. The variety ranges from basic and inexpensive homes to luxury homes with sea views and all the latest modern facilities; Buyers don’t have to give up their dreams of owning a home in the sun.
Where East Meets West
Turkey acts as a bridge between two continents located at the southwestern tip of Asia, a small part of which is in Europe. As a result, you enjoy the pleasure of visiting two continents in one country. Turkey’s geographical location has made it a popular tourism and industrial destination, and it is at your fingertips to find all kinds of tour groups and organizations that organize trips to Turkey all over the world. Turkey’s unique synthesis of eastern and western culture makes it completely different from other European resorts because it offers both eastern elegance and western culture. Every city in Turkey has an incredible combination of dress, food, and celebration.
Istanbul, also called Constantinople in history, is a vibrant city on both sides of the dazzling Bosphorus, which connects Europe and Asia. Hagia Sophia has been reborn several times over the years and its interior reveals its past. It was used as a church for 916 years until the conquest of Istanbul by Fatih Sultan Mehmed, then it was converted into a mosque 482 years later. Under Atatürk’s direction, it was converted into a museum in 1935 where Christian and Muslim emblems were exhibited side by side. Although some of it still serves as a museum today, it has been reopened for worship. Due to the volume of demand and mortgage transactions, buying property in Istanbul is currently the busiest in Turkey.
Return On Investment
Due to its great liquidity, investing in Turkish real estate is one of the best decisions you can make. Properties that offer a variety of amenities and are located in locations with well-developed infrastructure are in great demand all year round and are extremely attractive for resale. Moreover, several real estate companies are ready to meet you with options to buy with guaranteed rent. For example, if you buy a very small flat in this way, you can get a fixed rental income of at least 5000 – 6000 Euros per year. And Tolerance Homes will gladly take on the full burden of finding tenants and dealing with any related concerns.
Country Of Hospitality
We all know that cultural tradition, social views and lifestyles vary greatly across the country. Localities (rural/urban), regions, social positions, nationalities, and education levels vary considerably. Being respectful is a very important issue in Turkish culture. The Turkish people are known for their friendliness, and they do everything they can to make their visitors feel comfortable and satisfied.
This is a concept that applies to every day, not just a special day, a particular celebration, or on holiday. (Bayram is a Turkish word for a national holiday or holiday and can refer to both national and religious holidays.) Any guest who comes to a Turk’s home is the most important person in the house at that moment and needs to be pleased. A pleasant conversation, eating good food, and then drinking hot tea are indispensable parts of this ritual.
What’s the Property Market Like in Turkey?
The Turkish real estate market has been in great demand in recent years and prices are expected to increase by 25% by early 2023. For this reason, house construction and redevelopment projects continue at full speed, which may lead to more housing stock in the market.
In recent years, the demand from foreign buyers for Turkish residences has increased. This had fallen due to the Covid-19 pandemic, but today, the decline in local demand and mortgage rates has kept the housing market afloat, thanks to the waning of the virus.
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Whatever your decision, buying property in Turkey is one of the smartest investment decisions. According to experts, the real estate sector in Turkey is performing well. Given the strength and stability of the national economy, housing prices are likely to rise in the future.
Whether you decide to rent or resell the property, you will be able to make a good profit. Whether you want to immigrate to Turkey for a few months each year or take a vacation at home, you will undoubtedly be fascinated by the local way of life.