28 June 2021
Investment in real estate at the excavation stage
Investing in overseas real estate is a very significant event for every person. Especially if these are apartments in resort Turkey, because for many it is not just the acquisition of square meters, but the embodiment of the dream of their own house by the sea. Recently, interest in apartments in resort regions in the primary real estate market has grown significantly. This is due to the many advantages of new housing, including affordable prices, high quality construction work, and developed infrastructure of the complexes.
The investment potential of real estate in Turkey
Apartments in a new building are being sold at different stages construction: at the stage of excavation, erection of walls, finishing works or before commissioning. In the course of construction work, the price per square meter grows in proportion to the built floors and reaches a peak after the complex is put into operation. Accordingly, if you make investments in real estate from scratch, when they just dig a foundation pit and pour the foundation, this will save a lot.
First, let's define what is meant by the concept of "excavation stage".
Construction companies also call it "zero stage construction" or "zero cycle".
At this stage, the foundation is being prepared. Before erecting a residential complex, a construction company prepares a building site, clears and levels it. Then the pit is dug, piles are driven and trenches are laid for communication networks. Gradually, the construction of the building begins up to the first 2-3 floors.
It is beneficial for developers to sell objects as early as possible. The sooner the implementation begins, the sooner the construction will pay off and profits will begin to flow. This is the main reason for the attractive price tags at an early stage of work on the LCD. The difference in the cost of an apartment at the zero stage of construction is 20-30% cheaper than the same apartment immediately after the completion of construction work. About 30% of offers are already sold at this stage.
The benefits of investing in real estate at the construction stage
Such a transaction has many advantages:
- Lower cost. Of course, the decisive criterion for the purchase of real estate in the initial stages of construction work is an attractive price tag. Investing in real estate during the construction phase in Turkey at the time of pouring the foundation will save up to 30% of the cost of housing, rather than buying the same apartment during the commissioning of the complex.
- A wide range of offers. When buying apartments at an early stage of construction of a residential complex, the buyer can choose the optimal footage, the number of rooms, the layout of the apartment and even the view from the windows on any floor. The closer the construction of the house to the end, the fewer options.
- Installments from a construction company (no interest). This is a great option for people who do not have the entire amount on hand. The buyer makes an initial payment of 30-50%, and the rest is divided into equal payments until the building is put into operation.
- Changes in the layout and interior decoration. The undoubted "plus" of acquiring housing at an early stage is the ability to make adjustments to the layout of the premises to your taste, as well as choose certain finishing materials according to the desired design of the apartment.
- Legal integrity. Housing in a new building does not have a dubious past. There is no need to check the legal history of the apartments before the transaction, since no one has previously lived in them. The buyer becomes the first and only owner of the square meters, which excludes problems, disputes and legal claims from third parties.
But it should be borne in mind that this option of investing in real estate in Turkey is relevant for the category of buyers who can afford not to rush to enter new housing and wait for the completion of construction. The wait will not be long, as Turkey has seen a rapid pace of construction of multi-apartment complexes. It takes 1-2 years.
Is it safe to invest in real estate at the excavation stage in Turkey?
It is important to understand that neither the speed of construction nor the affordable cost affect the quality. Every construction company must have a license. It is she who allows to carry out construction activities legally.
The developers build complexes in accordance with the approved project documentation, strictly adhering to all international standards and norms, using the most modern technologies and high-quality building materials. Monolithic-frame technology makes it possible to obtain excellent sound and heat insulation properties of the building, while maintaining silence and an invaluable sense of calm, security and privacy.
The new Turkish residential complexes have a landscaped area - with modern playgrounds for children, gazebos for recreation and sports areas. Close attention is also paid to internal parameters - bright spacious rooms with panoramic windows, bathrooms for each bedroom, large balconies and terraces. An optimally equipped kitchen, a steel front door, double-glazed windows, an air conditioning system and high-quality tiles are a must-have set of characteristics of modern apartments in Turkish residential complexes.
When buying apartments from a developer, you enter into an agreement with him. Thanks to this contract, the buyer receives the maximum level of protection, and if the deadlines are not met, he can demand compensation. The contract prescribes all the data about the future residential complex, the timing of its commissioning, the cost of the object, the payment schedule for installments, penalties and warranty obligations.
Buying an apartment at the initial stage of construction for the purpose of subsequent resale is a great way not to not only a return on investment in Turkish real estate, but also a profit. After the commissioning of the property, the property you purchased will increase in price and it can be resold profitably, while receiving a good profit due to the increase in value.
Offers from Nordic
Nordic Property is developing dynamically and occupies a worthy place in the construction sector on the South Coast of Turkey. The developer's portfolio includes the best residential complexes in Alanya, among which you can choose an excellent option for a promising investment in real estate in Turkey even at the stage of its construction.
Modern premium complex Nordic Art in the Kargicak area offers apartments in a modern style and fine finishes. A feature of this property is its proximity to the sea (10m), large panoramic windows and spacious terraces. Ideal for those who are looking for permanent residence or rental housing.
Avsallar offers a project with a modern design and functional architectural concept - Nobby Garden. The common areas consist of swimming pools (for adults and children) and gardens, which create a wonderful environment in which you can enjoy comfort and relaxation.
Both projects are scheduled for completion in the second half of 2023, so there is still a possibility selection of apartments on different floors and different sizes.
Nordic Property Construction offers a full after-sales service. The managers of Nordic Property Construction will guide you on how much an apartment at the stage of excavation in Turkey costs, how their complexes are built and how the transaction itself goes. The task of the developer is not only to offer clients housing at a bargain price, but also to make the process of owning a new property as simple and comfortable as possible.