At what stage of construction is it better to buy a house in Turkey?

Investing in Turkish apartments at the stage of construction of a residential complex is the most promising direction for a profitable investment. Buying a property under construction in Turkey carries absolutely no risks if the sale and purchase contract is signed directly with a reliable and trusted construction company.

Moreover, in order to protect the rights of investors, the Turkish authorities have ordered developers to confirm that the company has enough funds to complete the construction of the project. Thus, before obtaining Yapi Ruhsati - a permit for the construction of a residential complex - the developer must have the necessary capital. In other words, construction in Turkey is carried out not at the expense of potential apartment owners, but directly at the expense of the developer.

Undoubtedly, the purchase of real estate from a construction company attracts many factors: a wide choice of layouts, location of apartments, view characteristics, the ability to make your own adjustments, save on financial investments. How much cheaper you can buy apartments in Turkey from a developer and how prices grow depending on the stage of readiness of the object - read on.

How prices for Turkish real estate change depending on the stage of construction

Certainly , it is most profitable to purchase apartments at the stage of pouring the foundation. At the start of sales, developers sell apartments almost at the cost of construction, because their personal funds are invested. Accordingly, a quick return on investment is the number one task for the developer.

The difference in the price of apartments between the excavation stage and fully finished apartments is 30-40%. When the construction work is completed by 50%, the savings will be less - 15-20%. Upon completion of construction, prices reach a maximum mark. However, when paying in full, the buyer can count on a discount of up to 5–10%.

In view of such obvious benefits, buying an apartment under construction in Turkey is one of the most popular destinations for profitable investments among foreigners. Compared to many countries, the Republic of Turkey has more favorable conditions in terms of acquiring housing from a developer.

For example, in Spain, new buildings, on the contrary, are the most expensive segment of real estate. And in Russia and other countries of the post-Soviet space, apartments from the developer are put into operation in a rough finish, which incurs additional repair costs for the buyer. Yes, and often in the expanses of the former CIS there are various problems: a delay in the delivery of a house, lack of communications, bankruptcy of a construction company and a complete halt in construction.

In Turkey, the situation is fundamentally different. Real estate under construction is sold cheaper, and there are practically no long-term constructions, unless we are talking about private construction, that is, someone builds a house for themselves separately. A negative outcome is also possible in the case of cooperation with an unverified or just emerging company on the market. Therefore, it is important to study the reputation of the developer in Turkey, make sure that his portfolio of commissioned objects is available, read reviews, ask around the residents of already occupied complexes.

Investing in real estate in Turkey: pros and cons

In addition to saving money, when buying an apartment at the construction stage, an investor receives a number of undeniable advantages:

• A wide range of offers

Turkish developers offer apartments of various layouts and areas. This allows the buyer to choose apartments according to their preferences and budget. A variety of budget housing options, standard apartments, panoramic penthouses and duplexes with access will please even the most demanding buyer with high quality construction.

Leading development companies in Turkey choose the most advantageous locations for the construction of residential complexes: with sea or mountain views, in an area with developed infrastructure and good transport interchange. That is, all factors for the construction of liquid housing are taken into account.

• Perfect condition of apartments

Apartments in new buildings are rented out completely ready for living. They have thought out the functionality of the living space to the maximum and completely renovated:

• finishing done;
• interior and entrance doors installed;
• the floor was covered with laminate and porcelain stoneware;
• installation of metal-plastic windows with double glazing is provided;
• built-in kitchen corner;
• modern communication and engineering networks have been laid;
• bathrooms are equipped with modern fixtures, etc.

• Ability to make changes

At the start of the construction of a residential complex, the buyer can agree with the developer on changes in the location of the internal walls and approve possible redevelopment options. Moreover, the future owner has the opportunity to make adjustments in interior solutions:

• change wall color;
• set the desired flooring;
• furnish your home with ceramics and sanitary ware of a specific brand.

Such adjustments are made free of charge. For an additional fee, it is possible to install the "Smart Home" system and conduct underfloor heating throughout the living space.

• Interest-free installments with a convenient payment schedule

On the condition of an initial payment of 30%, Turkish developers provide foreign citizens with interest-free installments until the end of construction. The rest of the amount is divided into equal payments without reference to the stages of the construction of the object: quarterly, monthly or every six months. The main thing is to make the last payment before putting the residential complex into operation.

• Investment attractiveness

Turkish new buildings are highly liquid objects, since the apartments have been designed, the adjacent territory is equipped with a hotel-type infrastructure, and the locations of the residential complex are selected in the best way.

Comfortable apartments with such characteristics will always increase in price, and if you buy them at the zero stage of construction, you can get a solid capital gain on resale immediately after the commissioning of the residential complex.

From The disadvantages of buying property in Turkey during the construction phase include the following:

• Cooperation with an unreliable and little-known company in the housing market.
• The need to wait for the completion of the complex up to 18 months, the period depends on the stage of your investment.

How is the conclusion of a transaction with a foreigner and what documents you will need to buy an apartment at the construction stage - read the article about the procedure for buying property in Turkey. You can get information about current offers and already handed over objects on our website in the "Real Estate" section.