Property investment experts Turkey with righthome.com.tr: Chasing the market and waiting for prices to drop based on inaccurate news will only result in missing out on investment opportunities. If you have gathered information from multiple professional real estate consultants, it is natural to meet with all of them when you visit Istanbul. We recommend starting with the one you assess as the most professional. Negotiation is a precise and complex process, especially in the Turkish real estate market. Ensure that the most skilled negotiator is someone with extensive experience in the market, who has conducted the most sales transactions and has the best reputation. Do not compromise when choosing a property. If a consultant (often a female consultant) recommends a property that you believe is not suitable for you, do not buy or even reserve the property unless you are 80% sure it is suitable for you. The result we see from our daily experiences is either purchasing an unsuitable property due to the client’s reluctance to contradict the sales representative or reserving an unsuitable property, leading to problems with canceling the reservation and refunding the reservation fees. Sometimes clients completely change their minds due to a situation they encounter. Discover additional details at Turkey real estate market.
Beware of scams that are often designed not to steal your money directly but to make unrealistic promises that cannot be fulfilled in reality, such as a guaranteed 10% permanent rental return or profits of up to 300% within two years, and so on. Be cautious of offers that come with a gift wrap, as they are often (but not always) a deception, such as a guarantee of renting apartments for three years in regular apartments. What happens after those three years? Or offers like buying land near the Istanbul Canal and selling it at double the current price after two years. Be aware that if the square meter price actually increases, the abundance of such offers will prevent you from achieving the desired profit. Or offers like buying two apartments for $400,000 in total, claiming they are suitable for Turkish citizenship.
And we belief in the role of real estate companies in providing the right information for those interested in real estate investment and the spread of investment awareness about Turkish real estate, that’s why our company Extra Property publishes educational articles about ownership in Turkey and the most important information that the owner needs during the ownership or investment in Turkey. In this article, we will highlight the most widespread misinformation about real estate in Turkey.
Even though Istanbul has always been one of the major cities of the world, both historically and in modern times, it is still an infant of the globe’s real estate market. Neglected for many years because of a dismal economy, lack of financing and credit, as well as substandard urban infrastructure, it wasn’t until the turn of the century that the government started to modernise the real estate market of Turkey to bring it inline with other destinations of the world. The result is that buyers are cashing in while it is still young and overall, property anywhere in Turkey has enormous potential when it comes to capital growth. According to the stat crunching portal Numbeo, prices per square meter in London range from 677% to 862% higher than Istanbul.
Turkey tourism is one of the top reasons to invest in Turkey. Considerably smaller than the Grand Bazaar, the Spice Bazaar is home to around a hundred shops selling dried fruits, nuts, spices, tea, Turkish Delight, and other goodies. Both are walking distance from Sultanahmet Square. Follow the link for a DIY walking tour of Istanbul’s Bazaars and Rustem Pasha Mosque, a small but beautiful mosque near the Spice Bazaar. You can easily visit the Grand and Spice Bazaars on your own but if you’d like to go on a guided tour, then you can book one through Get Your Guide. Having a guide will be helpful, especially at the Grand bazaar because it’s so big. Follow the link to check out Get Your Guide’s Grand and Spice Bazaar tours.
Finally, as for the lands near the new Istanbul Canal, it is a very risky investment project that is not recommended for someone who owns a property for the first time in Turkey and wants to obtain Turkish citizenship. For more information about Istanbul Canal, read: Canal Istanbul project and its impact on real estate investment. So, what is the solution to get a successful real estate investment while obtaining Turkish citizenship? The amount of real estate investment to obtain Turkish citizenship was reduced to $ 250.000, according to what was issued in the Official Gazette on September 19, 2018, after it was previously worth one million dollars.
Right Home is a leading company specializing in real estate consultancy and brokerage. We help buyers to buy and sellers to sell. We provide luxury apartments, smart homes, elegantly designed offices, modern constructions and all consultancy services. Our head office located in Istanbul, Turkey. We take great pride in being more than just another real estate agency. We aim to develop long-lasting relationships with our clients by offering exceptional services and meeting customer’s utmost satisfaction. The collection of this marvelous museum comes from all over the Middle East, and the items dated from the 8th to the 19th century. You can see calligraphy artwork, prayer rugs, wooden, stone, and metal crafts, and many more. The Museum of Turkish and Islamic Arts opens from 9 AM to 4.30 PM every day, except on Mondays. On Mondays, the museum is closed for the public.
It is worth noting that this process is usually expensive, especially if the lawyer is fluent in a language other than Turkish and has experience with topics of interest to the foreign investor exclusively in Turkey, but at Right Home we do not charge any fees for legal advice. As for the transaction of Turkish citizenship through investment, usually the costs of the lawyer who will prepare the papers and submit the application are about 4 or 5 thousand dollars, but at Right Home we have a valid offer until the date of writing this blog as we fully cover the fees of lawyers for clients who bought through our company and want to obtain Turkish citizenship. Read more details on https://righthome.com.tr/en/home.