As an investment opportunity or as a means of obtaining residency or citizenship, buying real estate in Turkey has been welcomed by many foreigners in recent years.
The question that many buyers and investors may ask is whether the time period you choose to buy a property is important, what is the best time to buy a property in Turkey?
The short answer to this question is that when you find the right real estate, in the right place, at the right price within your budget, then this is the best time to buy.
However, there are other important factors to consider when buying real estate in Turkey, which we will discuss in this article, so stay tuned.
Advantages of buying a property in Turkey
- In Turkey, the cost of living is lower than in European and America.
- You can obtain Turkish residency and citizenship in this way.
- Turkey has a lot of high quality products and you don’t have to worry about prices.
- There are many entertainment and tourist centers in Turkey that attract every tourist.
- Coastal areas, sports stadiums and cycling venues are abundant in Turkey.
- Buying real estate in Turkey is very fast and the Turkish government has facilitated this for the welfare of foreigners/
- A variety of options can be found to buy real estate in Turkey.
- You can pay the price of the property in installments, but at the same time the title deed will be registered in your name.
- The Turkish transportation system is large and easily accessible, from the Metro lines to planes and public transportation.
- You will have a good investment opportunity by buying a property in Turkey
Real estate prices per meter in the cities of Turkey
|The city name||Average price per square meter|
|Istanbul||4432 Turkish lira|
|Izmir||3569 Turkish lira|
|Antalya||4100 Turkish lira|
|Ankara||2900 Turkish lira|
|Bodrum||3200 Turkish lira|
|Denizli||1500 Turkish lira|
What are the things to consider when buying real estate in Turkey?
As the conditions of each city differ and the costs you need differ, for example, living in Istanbul costs you more than Antalya.
Secondly, buying a property in Turkey depends on several factors, the most important of which are:
- The location of your choice, on the beach or in the city center?
- The number of shopping centers in the vicinity of the property.
- Do you want an apartment, villa or commercial property?
The right time to buy a property in Turkey
Buying real estate according to the seasons of the year
Spring is the best season in Turkey, as this season is the perfect time to view real estate details, and see different options.
In addition, sellers advertise their real estates for sale in the summer, between the months of May and June, during which time you can find many different options.
While spring and summer are the most popular times to buy real estate in Turkey, for the smart buyer, winter is the best time to search for the right real estate due to low market demand.
To understand this better we will give an example, for example, that the best time to buy a yacht is during the sunny summer season.
Most sellers will prefer to sell in the summer when the buyer can enjoy the yacht. However it is more strategic to buy yachts in winter because the demand is less and so sellers will be more willing to attract buyers with lower prices.
In general, the purchase of different types of real estate in Turkey is affected by the season, especially those real estates that have special features such as proximity to the sea and the beach as they require favorable climatic conditions.
Buying a property in the winter
There are many reasons that will convince you to buy real estate in Turkey in the winter, as it can save you a lot of money.
In addition, here are four reasons why winter is the best time to buy a property in Turkey:
1- Rush real estate agencies for sale
Winter means fewer buyers are looking for a property, lower activity in winter encourages real estate agencies to be more impulsive to make a deal.
2- Less competition
In winter, the number of sellers and buyers in general decreases.
So with less competition and demand, buyers have more bargaining power and can have more opportunities to get discounts.
3- Time saving
With demand falling and real estate sellers rushing to sell faster, the time to negotiate contracts and the buying process would be running out faster.
Moreover, since real estate agencies are less busy in winter, their services will be more efficient.
4- Favorable conditions for the seller’s terms
Sellers are always looking for high demand and therefore price increases in spring and summer.
When a property is registered for sale in the winter, the seller usually sells the property for financial reasons or emergencies.
So in such circumstances it is possible to sell immediately at a lower price than the original price.
Buying a property based on the exchange rate of the Turkish lira
The exchange rate value of the country’s currency as a foreigner against the Turkish lira can save you a large amount of money.
Given that the Turkish lira is in a crisis against the US dollar, the purchasing power of foreign buyers in the country has increased significantly.
So timing is very important and effective considering the price of the Turkish lira, which has fallen 30% of its value in one year.
The lira drops 30% against the dollar, means 30% discount on real estate prices.
So the best time to buy a property in Turkey is during times of weakness in the Turkish lira.
Buying real estate during construction
The most appropriate time to buy a property in Turkey is when reputable projects announce pre-sale plans for their properties.
As many large and reputable projects sell some of thies real estate during construction to reduce financial risk and increase capital.
In such cases, these companies provide detailed information about building materials and everything the buyer needs to know about the properties of the property.
When purchasing an under construction property in Turkey, the buyer must make the purchase based on sufficient research, accuracy and the credibility of the construction company.
Every year, more and more foreigners are buying real estate in Turkey to enter the international markets, as all experts agree that real estate is the best option for long-term investment.
In addition, investing in the Turkish real estate market will give you the opportunity to obtain residency and citizenship in this country.
If you are planning to buy a house or apartment in Turkey, you can contact our real estate consultants to get the best offer and advice possible.
We will accompany you during the process of buying a property in Turkey, all the way will you obtain a Turkish residence or citizenship.