Reasonably save on buying property in Turkey

The Republic of Turkey is famous for its favorable climatic conditions and high investment potential, and the purchase of real estate in the country opens up a number of new opportunities for foreigners.

The presence of property in the resort allows you to receive a stable income from renting out housing, and the owner always retains the opportunity to profitably resell the apartment. This is facilitated by the high demand for housing, and the steady rise in prices per square meter.

Moreover, depending on the investment input, a foreigner has the prospect of obtaining a Turkish residence permit or citizenship. You can get a residence permit when buying real estate worth from $75,000, and a Turkish passport - when investing in the real estate sector from $400,000.

Of course, many are interested in how to save money on buying real estate in Turkey and at the same time not sacrifice quality housing and views. How to spend less money when choosing a luxury apartment - we share life hacks.

Purchase of real estate at the stage of construction

The most popular scheme for profitable investment in real estate in Turkey is the purchase of an object at the stage of a pencil or a foundation pit. At this stage, developers offer the lowest prices, as they are interested in selling as many apartments as possible and returning the invested funds.

According to the laws of the Republic of Turkey, the construction of residential complexes is carried out with the money of developers, and not at the expense of potential homeowners. And before proceeding with the construction of the object, the developer is obliged to prove his reliability, that is, to provide a document confirming the availability of the required amount in the bank.

The cost of real estate at the stage of pouring the foundation is lower than its market price by 30–40%. On this difference, many investors make good money. If you resell the object immediately after putting the residential complex into operation, the capital gain will be ⅓ of the invested amount.

As the floors grow, prices naturally rise. When the complex is 50% ready, apartment prices will be 15-20% lower than market prices. At the time of completion of construction work, the cost of apartments is already reaching its peak, but the buyer may well count on a discount of up to 5%.

Looking for a way to buy an apartment in Turkey inexpensively? We recommend that you consider buying an apartment in a complex under construction. Particularly attractive for prices is the zero stage of construction.

Purchasing real estate in new and developing areas

When laying down real estate prices, developers take into account several factors: the cost of materials used, the cost of workers, the cost of arranging the local area and, of course, the cost of land plot.

Land in Turkey is the most valuable resource, which is practically exhausted in landscaped areas and central locations of the regions. Therefore, in order to offer buyers lower real estate prices, developers are exploring new territories.

Young areas are being built up at a rapid pace and the level of infrastructure is rapidly increasing. Accordingly, real estate prices are rising. Therefore, while the districts are under development, it is worth buying an apartment here. Housing prices in neighborhoods and suburbs that are just beginning to develop are much lower than in the city center.

Hot offer

It happens that a construction company has sold all the apartments in a residential complex, but one or two remained repurchased. In this case, the developer is forced to make concessions and makes a good discount.

A lower price is often offered for apartments that are located on the first floor or their windows overlook the courtyard, rather than the sea and mountains. However, on the Mediterranean coast, all new buildings are being built in good locations and within easy reach of the seashore. And if the residential complex is located at a decent distance from the sea, a transfer to the beach is usually provided.

What to look for when choosing a developer

The prospect of saving on investments attracts, of course, almost everyone. But many are afraid to invest in an object under construction and are worried about how not to lose money when buying an apartment in Turkey. To prevent this from happening, you need to choose a construction company with an impeccable reputation and check the permits.

The main documents that a developer in Turkey must provide you with:

• Yap Ruhsatı is a building permit. Without this document, developers do not have the right to proceed with the construction of the facility. Yap Ruhsatı is issued before the start of construction work and must be with the developer.
• Iskan — technical passport for the object. This document may not be available at the early stages of construction, since the registration certificate confirms the suitability of the building for living.

It is worth noting that the state has simplified the task for buyers of real estate and for residential complexes put into operation after 2020, Iskan is issued directly by the developer. Previously, the situation was different and two technical passports were issued: Genel Iskan - for the entire residential complex and the developer had the document, Ferdi Iskan - for a housing unit and was issued to the owner of the apartment.

Discounts and offers from the construction company Nordic Property

Using life hacks when buying an apartment in Turkey, you can save a lot on investments. We are ready to offer liquid apartments in modern residential complexes that are under construction:

• Nobby Garden 2 — apartments from €118,000. Favorable location: Avsallar district, 800 m from the sea, 650 m from the center. Installment plan until December 2023.
• Nobby Garden - apartments from €186,000. Located next to Nobby Garden 2. Installment until August 2023.
• Nordic Sky - apartments from €225,500. A grandiose project is being built in the promising area of Tosmur, just 245 meters from the sea and 150 meters from the center. Installment for 24 months.

All residential complexes have an impeccable location and gorgeous views. The payment schedule is discussed with each client individually. Do not miss the chance to become the owner of liquid apartments on the Mediterranean coast and buy real estate on favorable terms!