Cheap Apartments for Sale in Turkey 2021
Cheap apartments for sale in Turkey with various options to buy cheap apartments in excellent places for family housing or leasing with monthly financial returns
Spacious luxurious apartments in the center of Istanbul with a mosque, school, and an ancient market
Table of Content
Advantages for Buying Cheap Apartments in Turkey
The official name of Turkey is the Republic of Turkey and, being located between Asia and Europe makes it a transcontinental country. Ankara and Istanbul are the two most important cities in Turkey.
Ankara is the capital whereas Istanbul is the biggest city in Turkey a real cosmopolitan center. The population is about 76 million people, basically consisting of young people who tend to move a lot to find a better job and business opportunities making Turkey one of the best countries for real estate investment like cheap flats and apartments as there are many people who are looking for an apartment in Turkey for sale.
Cheap Apartments for Sale in Turkey
As the country has an area of about 783,562.38 km² which shows how large the country is and also defines the potential of development in it. In spite of the area, there are many other reasons why a person should think of the investment in Turkey some of them are listed below.
- Growth in the real-estate: While the reports show that there is a decline in the real estate business all over the world including America and European countries, but in Turkey, there is a growth in the real estate sector of around 18.4%. This shows how safe it is to invest in Turkey and explains why there are many cheap apartments for sale in Turkey.
- Global evidence: Istanbul and many other big cities are considered to be attracting the real estate investors. Also, Turkey is ranked as a 3rd most profitable country in the sector of real estate. The real estate business is rapidly growing in Turkey and it’s considered to be one of the best countries for investment purpose in Europe.
- Availability of properties: There are ample numbers of units for sale in Turkey. If someone makes up his mind of investing in Turkey in flats or cheap apartments then he can surely find the right property for him. Cheap Apartments in Turkey for sale are equipped with all the new facilities and amenities.
- Demographic factor: The demography of any area can affect the business of that place; it can be in a negative or a positive way. But the demography of Turkey is the most favorable for its real estate sector. All the demographical factors are in the favor of the business let it be the population or the distribution of land.
- High GDP: The GDP of Turkey is always on the rise. The GDP was around 822 USD billion in the year 2013. 60% of the population in Turkey is under 40 years of age; this makes it a major target for foreign direct investment.
- Easy availability of finance: Banks and mortgage firms provide easy finance options for people who are looking for investment in real estate in Turkey. This allows them to buy the property on the spot and allows for slowly paying off the loans. This makes cheap apartments for sale in Turkey easily available for those who are willing to buy and invest.
- Slowly becoming an economic hub: Turkey is slowly getting transformed into an economic hub which provides extremely modern shopping centers and an easy access to 1.5 billion people who visit Turkey for different purposes.
The factors mentioned above can make any person interested in the apartments for sale in Turkey. Understanding these factors will show people that real estate investment in Turkey can be really profitable and can lead to great benefits.
SWOT analysis refers to strength, weakness, opportunity, and threats. This kind of analysis is used to analyze the real estate market in Turkey.
- Strength: Turkey is a leading country in Europe, where investments make a huge impact on the growth of GDP. There is a potentially strong control over finance and banking. The companies of construction have global networks and a good international reputation. This grants easy access to mortgage facilities. Each year the government maximizes buyer incentives.
- Weakness- It is difficult to acquire land and get permits for construction as the process is complicated. There are a large number of old houses available and these houses don’t meet the requirements of a mortgage.
- Opportunities- Residential places and spaces for commercial are in huge demand internally. There are many projects approved for the up gradation of slum areas into new housing colonies. The new regulations for earthquake and any kind of natural disasters have made the way for quality constructions. The opportunities for residential houses and office space have increased tremendously due to a large number of tourists and investors inflow. This means that every day there will be a bigger number of houses for sale in Turkey that would cater to the needs of whoever is interested in buying a property in Turkey.
- Threats- Most parts of Turkey face threats of earthquakes and natural disasters which can scare investors off purchasing property there. Moreover, the market is more strained in comparison to other mature real estate markets like in the UK and the US.
- Prosperous economy- With the increased projection of 5%, the GDP has reached USD 800 billion with annual real GDP growth. The economy has heavy exports of about USD 168 billion which makes it the world’s 17th largest economy.
- Population- the Turkish population is about 76 million, of which 60% are considered to be of the younger generation. These young people help in expanding the Turkish economy by setting up new business ventures. The customs and traditions have changed and the younger people tend to leave parental homes and settle on their own. This increases the needs for a large number of accommodation and housing facilities. The central real estate organization of Turkey reported that the number of properties in Turkey is facing a shortfall of around 2.5 million.
- The place- The technological infrastructure and good transportation system make Turkey an ideal place for settling down. It has a very big local market because of the huge population. It is also an ideal place due to the increase in the number of investors and tourists. The taxes and incentive have also been lowered to attract a number of investors.
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