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Buying cheap properties in Turkey can be an excellent investment opportunity. Turkey offers a range of budget-friendly properties for sale. We offer a wide range of budget-friendly properties, including apartments, villas, and houses.

Is Property Cheap in Turkey?

The cost of property in Turkey can vary greatly depending on the location, type, and quality of the property. Generally speaking, property in Turkey is considered to be relatively affordable compared to other European countries.

However, the cost of property in Turkey can still be high in certain areas, particularly in major cities like Istanbul and Ankara. Prices in these cities can be comparable to other major European cities, although there are still many affordable options available, particularly in the outer suburbs and less developed areas.

Due to the difference in currency rates during the previous five years, property prices in Turkish Liras have risen, although they are still within reach for foreign investors. Foreign investors have begun to purchase more real estate from Turkey as a result of the Turkish lira's massive devaluation versus the US dollar and the euro. These investors seek to generate substantial returns over the long term.

Benefits of Buying Cheap Properties in Turkey

Buying cheap properties in Turkey can have several benefits for investors, including:

  • Higher cash flow and gross yield

When you buy a cheap property, your monthly mortgage payments will be lower, which can lead to higher cash flow and gross yield. This is especially true if you plan to rent out the property, as you can charge a higher rent relative to your monthly expenses, resulting in a positive cash flow.

  • Greater long-term appreciation potential

While cheaper properties may not appreciate in value as quickly as more expensive ones, they can still offer long-term appreciation potential. As the Turkish economy and real estate market continue to grow, cheaper properties in up-and-coming neighborhoods may see significant appreciation over time.

  • Buy more property with the same amount of money

By buying cheaper properties, you can stretch your investment budget further and buy more properties with the same amount of money. This can help you diversify your investment portfolio and reduce risk by spreading your investments across multiple properties.

  1. Diversification of Investment Portfolio: By investing in cheap property, investors can diversify their investment portfolio and gain exposure to different real estate market segments.

Top Cities to Find Cheap Property for Sale in Turkey

Those are some of the top cities in Turkey where it may be possible to find cheap properties for sale. Here is some more information about each city:

Trabzon

Located on the Black Sea coast, Trabzon is a popular tourist destination known for its natural beauty and historic sites. The city has a growing real estate market, with a range of affordable properties available for sale. To learn more about Tarabzon Check out our guide to Buying a property in trabzon.

Bursa

Located in northwest Turkey, Bursa is a major industrial and commercial center with a rich history and cultural heritage. The city has a diverse real estate market, with a range of properties available for sale at different price points.

Alanya

Located on the Mediterranean coast, Alanya is a popular tourist destination known for its beaches, nightlife, and historic sites. The city has a growing real estate market, with a range of affordable properties available for sale. Check out our offers of the best properties to invest in Alanya.

Ankara

As the capital of Turkey, Ankara is a major political, economic, and cultural center with a diverse real estate market. While prices can be high in some areas, there are also affordable properties available for sale in Ankara, particularly in the outer suburbs.

Sakarya

Located in northwest Turkey, Sakarya is a rapidly growing city with a range of affordable properties available for sale. The city has a strong economy and is home to several universities and research institutions.

Kocaeli

Located on the eastern coast of the Marmara Sea, Kocaeli is an industrial and commercial center with a diverse real estate market. The city has a range of affordable properties available for sale, particularly in the outer suburbs.

An affordable apartment in Turkey
Property in Turkey is considered to be relatively affordable compared to other European countries.

7 Tips Before Buying Cheap Property in Turkey

1. Choose the right area

Before you buy a property in Turkey, it's important to research different areas and neighborhoods to find the one that best meets your needs. Look for areas that are up-and-coming, have good infrastructure and amenities, and are in high demand from renters or buyers.

2. Know the additional costs

When buying a property in Turkey, there may be additional costs beyond the purchase price, such as taxes, fees, and legal expenses. Make sure to budget for these additional costs and factor them into your overall investment decision.

3. Choose the right construction company

If you're buying a new property in Turkey, it's important to choose a reputable construction company with a track record of delivering high-quality properties on time and on budget.

4. Determine the best payment plan

When buying a property in Turkey, there are different payment plans available, such as cash payments, installment plans, and mortgage financing. Determine which payment plan works best for your financial situation and investment goals.

5. Choose a property that has the most significant benefit

Look for properties that offer the biggest potential return on investment, such as properties in up-and-coming neighborhoods or properties that can be easily rented out for a high price.

6. Choose a reputable real estate agency

Work with a reputable real estate agency that has experience working with international buyers and can help guide you through the buying process, from finding the right property to closing the deal.

7. Visit the project in person

Before you make an investment, it's important to visit the property in person to see it firsthand and ensure that it meets your expectations. This will also give you an opportunity to speak with the construction company, real estate agent, and other stakeholders involved in the project.

Edited by Imtilak Real Estate ©

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Edited by: Imtilak Real Estate©

Update date: 2024-01-09

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