Choosing the right property: investment in the city center or in the countryside
Your comprehensive and distinctive guide to choosing the right property, also reads about the most important criteria for distinguishing between different properties, and is it better to invest in the city center or in the countryside?
Choosing the right property: investment in the city center or in the countryside
Despite the global Coronavirus epidemic, which has hit all sectors of the world's business, real estate investment has maintained its continued demand, as real estate investment is a haven and a safe haven for those seeking certain profit opportunities. The demand for real estate in its forms, and its diverse size, remains urgent despite all the occasional circumstances; the steady increase in population requires new buildings to keep pace with the permanent need for accommodation, work, education, care, recreation and the practice of various types of human activities.
Since real estate investment in Turkey is one of the most prominent in the Middle East, in terms of maintaining high safety rates in the infusion of funds in Turkey.
Urgent questions abound from those who wish to buy a property in Turkey; they are motivated by the investment benefits of the Turkish real estate investment sector, the willingness to take advantage of facilities and the incentives provided by the Turkish government authorities to Turkish real estate investors. These include the granting of Turkish citizenship to those who buy property worth at least $ 250 000 and the granting of real estate accommodation to those who invest in less than this amount.
Since many of those who want to buy and invest in property are confused and obsessed with taking this step, especially at the stage of choosing the right property, here’s this article.
Table Of Contents
- How to choose the right property?
How to choose the right property?
If the investor intends to purchase a property in Turkey, he/she shall take several steps, which, if strictly implemented, will make the real estate purchase process highly secure, a risk that may normally occur at the earliest stage of real estate ownership. In particular, if a person is willing to buy from outside the country in which he is to be bought - and the word here is about Turkey - the real estate company, therefore, outlines to you those steps that must be invoked when making the purchase:
- Identify the target behind the purchase of the property, respond accurately and clearly to the question: Is the property intended for housing or investment?
It is essential to know the purpose of the purchase of the property because the Turkish property market is described as a large, multi-item market; the options are many, and vary according to the purpose of ownership.
- Ensure that the property to be purchased is in a vital position and appropriate to the intended target.
- It is important to mention here that there are two types of buildings: under construction and ready.
We make special offers to real estate for sale seekers in Turkey, check them.
If the building is still under construction, two things should be done:
- Ensuring there's a regular building permit.
- Whether the construction-based company has a good reputation for real estate construction in terms of quality and the obligation to deliver buildings at specified times.
In the second case, the construction is ready, the ownership of the property must be verified from the Tapu dairesi, where care must be taken so that the property is not dependent on anyone and is free of any legal problems.
- The property must be seen on the ground, as it is likely that the information obtained through the ads is inaccurate, or that it does not match the property's specifications as they are.
- Knowledge of the whole area of the estate, because there is a difference in estimating the size of buildings in Turkey between the total area: These include parks, drawers, elevators, and other facilities. Net area: which is the separate space from other buildings as a house, or shop, of what the landlord uses alone without sharing with other building occupants.
Remarkably, the difference between the two total spaces, and the net, in Turkey maybe 35%.
The advice to buy an apartment in Turkey is provided by Imtilak Real Estate
Which is better: Buying a property in the countryside or in the city center?
To answer this question, it should be noted that the real estate market, under which all properties are located, whether in the countryside or in the city, is divided into 3 main sections:
- Central areas of cities: The high demand is for business investment, owing to the concentration of business activities, subsidiaries, large enterprises and government services, and the fact that prices in city centers are constantly rising, and are still very high.
- Peri-urban areas: They are suburbs, neighborhoods that were predominantly rural and have been expanded and covered by urban regulatory schemes, and remain in the eyes of investors as services increase; Because their real estate prices are initially cheap, and then they go up as they turn into older, densely populated areas.
- Rural areas: The direction of investors is to purchase land for agricultural investment, to own farms, or to grow for quiet housing and recreation.
Recent growth in investment in rural areas has been noted, which has encouraged investors to establish apartment blocks, divide the land and prepare it for construction, and then offer it to those wishing to build their own homes.
Identify the types and characteristics of the land in Turkey.
Which is more lucrative: Buying a property in the countryside or in the city center?
The exact answer to the question is: How is the property chosen in relation to where it is in the city or in the countryside? Which is more lucrative? To the person willing to buy, to measure the usefulness of buying it in the countryside, or the city, given the desired goal of buying, and not to neglect the huge disparity between rural and urban properties prices.
Let us represent this disparity in prices, and according to the land zoning we mentioned in the previous paragraph, as an example of the big cities in Istanbul, we say:
- For the first region, which is the heart, the center of big cities: If an investor wants to buy into a tower and shopping mall located in areas such as Sisli, Mecidiyekoy a room and lounge property, it will be difficult to find such property for less than $350,000.
- For the same or a little more amount, an apartment with 4 rooms and a lounge could be purchased in the second zone, located on the outskirts of Istanbul, and its newly emerging environs.
- With the same amount or a small increase on it, a small villa, or farm, can be acquired within 2,000 square lands in the countryside of the European side of Istanbul.
For more information, read our article on land prices in Turkey
How did the Coronavirus pandemic affect the property selection process?
The Coronavirus has had a significant and visible impact on the real estate selection process in Turkey. The compass for measuring real estate demand points to a growing demand from real estate investors to move to rural Turkey, from demand to invest in central and commercial areas in major cities before the Coronavirus crisis. It has been noted that investors are turning their attention to the rural areas of European Istanbul, such as Silivri, Catalca, Arnavutkoy, and to areas such as Sile in the Asian section; there has also been a marked increase in the demand for real estate in small towns with expanding countryside, such as Kocaeli, Yaloca, Izmit, Sabanca, Sakarya and others.
This shift from city-to-countryside real estate investment during the Coronavirus epidemic is due to people seeking to move away from urban congestion, which is usually a symptom of constant intermingling. Hence the possibility of greater transmission and spread of infection, which has led them to aim for open areas in rural areas with green spaces, in search of an atmosphere that ensures the greatest possible degree of application of healthy social separation rules.
Read our article on how to buy an apartment during the Coronavirus epidemic
How does Imtilak Real Estate help you choose the right property?
Imtilak Real Estate is fully prepared to accompany those who wish to own a property in the best investment areas of Turkey during all stages of the purchase and sale transaction. Providing important advice to them in accordance with the intended purpose of the purchase, In conclusion, we refer to some of the necessary recommendations:
Not until the end of the Coronavirus pandemic, to postpone the purchase of the property, which is the result of our monitoring of the dramatic increase in real estate prices in 2020. This resulted in investors who postponed the purchase losing profits that could have been earned if they had not deferred the purchase.
We make special offers to those seeking apartments for sale in Istanbul
- Keeping track of the real estate index, studying which direction the demand for real estate in Turkey is trending.
- We also recommend looking for offers to sell real estate in rural Turkey close to the city centers, which are much lower than those of the former and the latter in latter; Note, however, that some rural areas in Istanbul are only one hour's drive away from major city centers, in addition to all services and basic needs.
Other important information and topics:
- Why do foreign nationalities buy houses in Turkey?
- Living in Trabzon Turkey - advantages, disadvantages and costs.
- Obtaining Turkish citizenship.
Edited by Imtilak Real Estate
Did you like this topic? You can share it with your friends now.
Everything you want to know about buying a property in Istanbul in 2022 in terms of the types of real estate that a fore...
Real numbers representing real estate investment returns in Turkey presented to you by the first real estate advisor in...