Turkey is a dynamic country for both life, work and entertainment.
The cultural and geographical features, along with its economic and political location, have made Turkey one of the most popular destinations for migration and investment among foreigners.
One of the best ways to invest in Turkey is to buy real estate, where foreign purchases of different types of real estate in Turkey have been very well received in recent years.
To buy a property in Turkey, there are a variety of options both in terms of the type of real estate and in terms of its location in different cities and regions of the country.
No doubt you will ask many questions when buying real estate in Turkey.
And an important question you should ask, which is better: buying a property under construction or buying ready to move property in Turkey?
In this article, we will examine the different aspects of buying ready to move & under construction real estate in Turkey, as we will explain how to determine which is more suitable for you, so stay with us.
Buying real estates under construction in Turkey
Buying under construction property means buying a home or apartment that is not yet complete or will be built in the future.
Purchasing real estate under construction in Turkey can be paid for in installments.
You can also pay the full amount at once, unlike buying most of the ready to move properties where you have to pay the full amount.
The many benefits of buying a property under construction in Turkey cannot be ignored, the most important of which are:
The first advantage: The most important thing to buy real estates under construction instead of buying ready to move real estates in Turkey, which has made many foreigners attracted to them, is that you will pay a lower price for the real estate.
properties sold under construction are usually 15% – 30% cheaper than ready to move properties.
So, if you want to invest in real estate in Turkey, you can make a profit of 15% to 30% by the time of delivery.
This percentage of profits may increase as real estates prices increase every year in Turkey.
So when you buy real estate under construction in Turkey, you will undoubtedly make a lot of profits.
The second advantage: is the possibility of buying in installments, where many large residential projects sell their units in long-term installments.
The percentage of profits may increase as real estates prices increase every year in Turkey.
Many foreigners buy under construction properties in Turkey for a future or long-term investment, and pay in installments over a long period of time, usually interest-free.
The point to consider is that investing in real estates under construction in Turkey requires a lot of patience and is a long-term investment.
Yet many believe that the final profit is worth waiting several years.
Buying ready to move properties in Turkey
Many people are interested in buying a newly built villa or apartment ready for delivery in Turkey.
Due to the fact that there is less trouble and anxiety in buying ready to move real estates than buying real estates under construction.
This method is way more common among foreign investors.
One of the most important advantages of buying ready to move real estates in Turkey is that you can visit the property and check the quality of the building and the details of the building completely.
First feature: When you buy a ready to move property in Turkey, you will see the type of materials used, decoration, building details, and the view of the apartment or villa, and you will buy the real estate with complete transparency.
Feature 2: Another advantage of buying ready to move real estates compared to buying real estates under construction in Turkey is that you get the real estate immediately.
The title deed (Tapu) will be stamped in your name and delivered to you, so you will not be subject to any fraud when buying real estate in Turkey.
Feature 3: By purchasing $250,000 real estate, you can obtain the Turkish passport and citizenship in a short period of time.
Which should you choose? buying a property under construction or ready to move?
To see if it’s best to buy an under construction or ready to move property in Turkey, it depends on your budget and circumstances.
For example, buying under construction properties in Turkey may be appropriate for a person on certain terms, and not for someone else on other terms.
As mentioned in the previous sections, buying under construction or ready to move real estates in Turkey each has its own advantages, and you have to choose one of these options according to your goal.
Buying real estate for Turkish citizenship
By purchasing ready to move properties in Turkey, you can stay there at any time and apply for residence (or Turkish citizenship when purchasing real estates worth more than $250,000) with a title deed stamped in your name.
Therefore, if you intend to buy a property that is under construction in Turkey and are planning to obtain Turkish citizenship or residence, you must sign a contract with a prestigious company to obtain residency and citizenship.
For some real estate projects supported by the Turkish government, it will be possible to apply for Turkish citizenship and residence after signing the contract.
However, if you want to get a Turkish passport by buying a property in Turkey, it is not recommended to pay in installments or purchase real estates under construction.
In other words, even if you valued the real estate for $250,000 and bought it from a Turkish seller, your citizenship application may not be approved.
However, you may be able to obtain and extend a short-term residence permit in Turkey annually so that you can finally obtain a permanent residence permit in Turkey after 8 years.
For immediate accommodation and turkish residence or citizenship, buying ready to move properties is a more convenient option.
Buying real estate for investment
On the other hand, if you do not intend to obtain a residence permit and a Turkish passport, or you already own them. And your intention is to invest only, buying an under construction property in Turkey would be a very convenient and profitable option for you.
As mentioned earlier, under construction real estate prices are lower than those of ready for delivery. (So it is the best time to buy)
Therefore, this method is profitable to invest in.
In addition, most under construction real estates have easy payment plans and you do not have to pay all the money at once.
The price of the real estate and how it is paid in installments depends on several factors.
Buying real estates under construction compared to buying a ready to move real estate allows you to own a house in Turkey for much less and earn a lot of profits from selling after completion and delivery.
When buying real estate under construction in Turkey, it is possible to fall into the trap of fraudulent companies, in addition to losing capital, and engaging in long and boring lawsuits in Turkey.
So MAKE SURE you buy the real estate from a prestigious company and consult experienced and reliable experts in this field.
The purchase of residential projects under construction, supported by the Turkish government and approved by the government, is the best and safest option for purchasing properties under construction in Turkey.
If you plan to buy a property in Turkey, you can contact our real estate consultants for the best possible offer and advice.
We will accompany you during the purchasing process, until you have the Turkish residency or citizenship.