Investing into property in Turkey

The goals of purchasing real estate outside of Russia could be very diverse:

– to acquire a “second house” for permanent or lengthy residence;

– to get a “summer house” abroad for periodic vacations in the desired setting;

– to get guaranteed (or practically guaranteed) income;

– to invest available funds in order to increase them and later sell the property.

Sometimes some of these goals intertwine, but you still have to ascertain the main one, because it will allow you to chose the right property abroad.

Turkish economy became the fastest growing economy in the world in the first quarter of 2011. According to a report from the international consulting company Jones Lang LaSalle, a global leader in commercial real estate, the Turkish economy will retain the title of the fastest growing economy among European countries between 2011 and 2015.

Thanks to Turkey’s popularity as a mass tourist attraction and activization of the local real estate market, the investment potential of Turkish real estate grew sharply.

In 2012, the amount of residential property acquired by foreigners raised substantially, due to a new law on purchase of real estate by foreigners in Turkey.

In the second quarter of 2013 the annual increase in prices on real estate in Turkey comprised 12,2%. That is the highest figure in all of Europe. While other European countries are trying to recover from a lingering crisis of the euro zone, prices for real estate in Turkey show impressive growth. Especially impressive is the growth of 12% in comparison to neighboring Greece, where the prices for housing in the same time period decreased by 11,5%.

The office of the registrar of properties published information, according to which since May 18th, 2012 through April 11th, 2013, 9990 houses, apartments, mansions, townhouses, penthouses, villas, chalets, bungalos were sold to foreign buyers as well as 2522 land plots.

According to expert forecasts, the expected amount of investments into houses, apartments, townhouses, penthouses, mansions, villas on the Turkish market will comprise over 4 billion US dollars, and in 2014, the growth of investments will comprise 10 billion US dollars.

The Turkish government undertakes regular actions to liberalize the investment climate in the country: free import/export of funds, incomes, dividends and salaries is allowed free trade zones are set up. In connection with the new law and a simplified procedure of real estate purchase in Turkey for foreigners, the attractiveness of investments into residential real estate has grown immensely. The developed districts along the coast of the Mediterranean sea (Antalya, Kemer, Belek, Side, Alania) and the Aegean sea (Marmaris, Fetkhie, Kushadasi) are in the highest demand.

Our company is offering you to invest funds into properties that are at the stage of project design or at any other stage of construction (the stage of architectural design, stage of foundation, stage of building erection, etc). The closer the commissioning date, the higher the price is per square meter and the closer it is to average market price. Real estate buyers at the construction stage have an advantage in acquiring a swuare meter, which is a bonus for waiting for building completion. It is most profitable to invest at the arcitectural project stage. But if you are not an experienced investor and want to start with something, then the absolute risk free alternative for you is investing at the stage of outside wall construction.

In the past few years we have seen a steady growth in demand for housing, and the total price increase for real estate within the construction term is 20-30%. Thus, by purchasing an apartment in Turkey at the pre-construction stage, the investor in a year and a half becomes the owner of a property, whose price is one and a half times higher that the invested amount.

Another reason why Turkish real estate is a profitable investment is that the average construction term for a new complex from zero to “turn key” is 12 months and has the same quality as in Europe. The construction indusctry in Turkey attracts investors from such countries as Norway, England, Germany, Sweden, Holland and Russia. Purchasing an entire complex of buildings at the construction stage presents special interest, with further retail resale of apartments.

Our company undertakes contractual obligations for sale or rent of purchased real estate property and also provides complete reports on the process of construction and spending on invested funds. We provide comprehensive legal support of the deal and also after-sale service.

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