How to find a property bargain in Turkey
Let’s face it, we’re all looking for a good deal. You probably know all the tricks back home - but searching for bargain property overseas can be a little trickier. Here, we share a few tips of the trade to help you find that elusive bargain home in Turkey, and let you in on the areas where you can find that sought-after property deal of a lifetime.
Bagging that Turkey bargain property:
1. Find a good real estate agent
Real estate agents are not all created equal. Some have been in business for a decade or more, with seasoned agents who know the business inside out. Others, seeing money to be made in a buyer’s market, have borrowed an office and had a cheap sign made, hoping to make some swift cash on the back of zero experience. It’s quite obvious which of these you should pick. A good real estate agent in Turkey is one who works closely with all the developers and sellers in the area, a volume driver who can command the very best prices - and the best quality builds. And, most importantly, can guide you through the unfamiliar waters of buying a property in Turkey.
2. Buy resale
A few years ago when land was cheap in Turkey, buyers bought up big, making hay while the sun shone and building Turkish homes left, right and centre. Today, land values have rocketed, meaning that building is now expensive and property prices have risen. A number of property owners are cashing in on the price rises and selling up. Some of these resale properties in Turkey are still very favourably priced compared to new build. Make sure your new Turkish home has all the correct license before you sign on the dotted line.
3. Buy off plan
If you buy a property before it’s built or while it’s being constructed you can save up to 20% on the property price. When the property is completed your property will increase in value by up to 20%. Buyers are often wary about buying off plan, but the reality is if you’re careful and don’t cut corners there won’t be a problem. Please see here for ways to avoid being stung when buying off plan property in Turkey.
4. Pick your time
During the summer months developers and private sellers are kept busy, as flocks of holiday-makers get a taste of sunshine and decide to turn their seasonal love affair with Turkey into something a little more permanent. Naturally, sellers hike their prices up. And in the cooler months? Developers hate to sit around twiddling their thumbs and will often drop their prices to keep momentum going during the quieter weeks when property demand drops. Head out on a property inspection trip to Turkey between the months of November and April to bag an off-season bargain.
5. After sales haggling
Once you’ve found your cheap home in Turkey, you’ll need to go about furnishing it. Agents and developers usually have good links with wholesalers and can get you some excellent bargains. See if you can get the furniture included as part of the whole package.
Our area guide to finding cheap property in Turkey:
Just like anywhere in the world, there are a number of bargain hotspots in Turkey. Here’s a quick rundown on the best places to find low priced real estate in Turkey.
1. Calis, Fethiye
There are plenty of decent resale and new build apartments and villas spread along Calis Beach in Fethiye. This is a wonderful place to families thanks to its lovely, shallow waters and bustling promenade. Prices for apartments in Calis start at around 50,000 euros, while villas begin at around 90,000 euros. Calis is also a great spot for permanent living as Fethiye has so many amenities and a year-round population.
2. Side, Antalya
Another family friendly beach with plenty of activities for kids and adults alike, Side’s popularity as a holiday destination is growing - along with house prices. You can still find apartments in good family complexes with pools for as low as 60,000 euros, but these are end-of-an-era prices. Side’s pleasant year-round temperatures and proximity to excellent facilities mean it’s also a good spot for a permanent home.
British favourite Altinkum has lovely beaches, plenty of cafes, restaurants and bars and is within cooee of some world-class historical sites. You can find good new build and resale apartments here from 40,000 euros, and villas from around 80,000 euros. However, be warned that this holiday spot closes down over the winter so if you’re looking for somewhere to set up a permanent base you might want to look elsewhere.
4. Konyaalti Beach, Antalya
This chic city beach is the number one sought-after spot by young professionals moving to Antalya City to find work. If you like a healthy dose of city life with your beach holiday, as well as a location that allows you to explore all this part of the coastline has to offer, Konyaalti may be right up your street. If you’re after a buy-to-let investment property then look no further. Prices for apartments in Antalya start at around 50,000 euros.
5. Fethiye Town
Right in the heart of the Fethiye region, Fethiye Town is fast becoming a cosmopolitan, lively centre - within easy reach of some of the best beaches around. Ideal for permanent living thanks to the town’s amenities and year-round population, Fethiye Town is a modern working centre while still holding onto that lovely traditional Turkish atmosphere. Stroll along the marina, have a meal at the bustling fish market or walk up the hill to see the ancient rock tombs - this small town has everything to offer. Apartment prices begin at around 60,000 euros.