More and more people are looking to buy a property overseas these days. As they do, increasing numbers of buyers are turning their attention to Turkey. Foreign buyers are attracted to cheap property for sale in Turkey, but there are many other benefits to buying a home here.
Buying a property in Turkey is relatively easy to do. In fact, it has become easier in recent years thanks to changes to the local laws. However, it is important to know a few things before you decide to purchase a property. Let’s dive into what you should know about buying a property in Turkey.
Why buy a property in Turkey?
Turkey is becoming an increasingly popular place for foreign property buyers. And for good reason! Here are some of the many benefits of buying a property here.
Cheap property
Turkish real estate was pretty late in entering the global market. This has resulted in affordable properties which attract buyers from all over the world. High-quality properties are available for relatively cheap prices. This lets foreign buyers purchase properties without needing a loan.
Long term investment
Property prices in Turkey are lower than many other countries, such as Spain and France. This gives buyers great returns on their investments. A well-maintained property in Turkey will be in high demand and makes an excellent long-term investment.
Diverse locations
Turkey is a large country that spreads from the east to the west. This provides a range of options for property buyers to purchase attractive properties. There are many beautiful places where you can buy properties in Turkey. These range from lively cities like Fethiye to tranquil spots such as Hisaronu.
Cost of living
The cost of living is relatively low. This gives potential buyers an extra reason to buy cheap property for sale in Turkey. Buying fresh food is cheap in the local markets. Also, water and utility costs are much lower. Council tax is also much cheaper than many other countries, including the UK.
Lifestyle
Apart from cheap property prices, the laidback lifestyle attracts many foreigners to Turkey. Many Brits have moved permanently to Turkey to enjoy a more relaxed lifestyle. Many choose to buy property on the country’s stunning Mediterranean and Aegean coasts. Mountainous areas like Ovacik are also popular because of their remoteness.
What property can I buy in Turkey on a budget?
For buyers on the hunt for cheap, high-quality property, Turkey will not disappoint. Indeed, Turkey offers a range of affordable properties. Let’s take a look at the different types of property available in Turkey.
Apartments
There are many options for foreign buyers looking to purchase apartments in Turkey. Turkey’s cities and resorts have many options that are great value for money. Apartments range from studios to four-bedroom properties. Most apartments come with facilities such as gyms, pools, gardens and underground parking.
Villas
A Turkish villa is a dream property for most buyers. Most villas are in stunning locations with spectacular views. Villas typically have four or more bedrooms which can fit the entire family. Foreign buyers looking for privacy and space usually opt for villas. Although luxurious, Turkish villas are more affordable than comparable properties in many countries.
Holiday rentals
Many foreign buyers purchase a property in Turkey to rent out to holidaymakers. Turkey is gaining popularity and attracts large numbers of tourists all year round. There are many ideal holiday rentals close to attractions and airports. More and more people are searching for passive income opportunities and this is a great example. Not only will you be purchasing an affordable property. But you can also earn a tidy income, especially during peak season.
Step-by-Step Guide to Buying a Property in Turkey
Buying a property in Turkey will be different for everyone. However, here is a quick overview of the process.
Research
When you decide to purchase a property in Turkey, you will find various agents to give you advice. If you are looking to buy cheap property for sale in Turkey, it is important to first thoroughly research of the market. This will give you the background knowledge you need to make the best decisions. Explore different locations to find those that suit your budget and lifestyle.
Hire an agent
Hiring a good agent is very important when purchasing a property in a foreign country. Do your research and read online reviews to find the best agent. A good agent should be able to stick to your budget and meet your needs. They will guide you in purchasing a quality property.
Get Legal Advice
Your agent will be able to advise you on the process of buying a property in Turkey. However, it is also good to get unbiased advice from an expert. This is where consulting a local lawyer is a good idea. They’ll help you navigate the process and make sure you tick all the legal boxes.
Visit Turkey
Before purchasing a property in Turkey, it is a sensible idea to visit the country in person. Tour around and experience different regions. Try out the local cuisine and meet the locals. Get a feeling for their lifestyle. While buying a property it is important to be familiar with the location. Most buyers prefer to see the place in person before finalising the sale.
Conduct a Property inspection
Once you have chosen a property, you should hire a reputable company to organise an inspection. This will give you the heads up on any issues with the property. If there are problems, you may still decide to go ahead and purchase it anyway. But this way you’ll be able to budget for necessary repairs.
Negotiate
Property prices in Turkey are cheaper than in many other countries. That being said, you should still with the seller to get the best price. You should do your own research as well as seek advice to work out what is a fair price. This will let you negotiate the best deal for your dream property.
Final Thoughts
There are many reasons why so many foreign buyers are attracted to Turkey. The lifestyle, scenery and attractions all make this a great place to buy a retirement or holiday home. There are also a range of options to choose from in terms of types of properties and locations. Perhaps above all else, Turkish properties are affordable and offer phenomenal value for money!
It is possible to find cheap property for sale in Turkey that is also high quality. With a little research and advice from the experts, you will soon secure your own dream property in Turkey.
