The real estate market of Turkey was a bit late to enter the international market; hence the low prices of homes quickly attracted foreigners from many different countries. Luxury properties are available and affordable compared to other European countries. Low prices have enabled many customers to buy property without mortgages or bank credit. Also for the under-construction projects interest-free installment plan is available.
The growth of the real estate market and recognition of talented architects has boosted the property portfolio of Turkey to an incredibly diverse status. Foreign buyers have extensive choices of budget and luxury, off-plan, new build, resale, renovation apartments, and houses. From the basic budget to luxury homes with sea views and all the latest modern amenities, such as the diversity; buyers do not have to compromise on their dream of a home in the sun.
For those who are looking for a long-term investment, these prices have the potential to offer a lucrative return on investment. Experts often recommend that the real estate market is the best long-term investment to make, but buyers in Turkey have added advantages over other countries such as Spain, Portugal, or Cyprus, where property prices have already peaked. With annual maintenance and upkeep, a well-looked-after property in Turkey has mass potential for return on long-term investment.
Thousands of Europeans (and people from other countries) have already bought properties in Turkey, and although the low property prices are a big lure, the laidback lifestyle undoubtedly lures them here for permanent living. Most prefer the coastal towns of the Mediterranean so they can indulge in seaside living, places like Alanya.
For buyers living here, one reason for buying property in Turkey was the low cost of living. Pensioners are especially getting a good deal because the exchange rate from their currency into the Turkish lira is netting them more than the average cost of living.
Turkey is the 37th largest country in the world and a mass of towns scattered from the east to the west attract foreign buyers. Most settle on the Mediterranean coasts apart from Istanbul, which tends to attract working expats.
Popular places include the Alanya peninsula, often visited by international people thanks to its atmosphere and lifestyle. Many foreign people own property there, it does feel like being at home.
Aside from the laid-back lifestyle and low cost of living, customers have also quoted the Turkish food, culture, and hospitality as major reasons to buy property in Turkey. The cuisine still focuses heavily on fresh ingredients to make delicious home-cooked meals, and it is like a Mediterranean diet, often called the healthiest in the world.
Turkish culture and hospitality also embrace foreigners, and an age-old proverb says every stranger is a friend. The result is that many different nationalities feel welcome in the country and enjoy indulging in a new cuisine focused heavily on healthy eating.
Foreigners were first able to buy property in 2001, and since then authorities have continually revised and simplified the process to attract investment in the housing market from overseas. Here at Immopro Turkey, we also check the paperwork of all properties to ensure they are legally in good standing.
It may look confusing buying a property abroad but actually in Turkey the process is simple. Of course, Immopro Turkey Real Estate agents will help you from A to Z.