The advantages of buying off plan property in Turkey are convincing: not only are prices lower, but also buyers can influence the design and layout of their new properties at the planning stage. Because development finance is scarce in Turkey, developers offer incentives to buyers in the form of discounts of up to 20% for off plan property purchases. This means that the property value jumps by 15% to 20% upon completion – an attractive investment prospect.
Some buyers are wary about buying properties off plan, having heard horror stories about developers who have not delivered on their contracts. However, there are ways to safeguard yourself when buying off plan real estate in Turkey, like using reputable developers and taking out a bank guarantee on the property. Another way of minimising your risk is by purchasing freehold title to the land first and then having the builder construct your new home on it. This only applies to off plan custom-built houses.
Apartments and Villas for Sale
Most apartments sit on all-encompassing complexes that also offer the buyer a wide range of on-site facilities. These include swimming pools, landscaped gardens, gyms, saunas and in the cases of huge complexes, bars, and restaurants. Anyone looking for a buy-to-let investment from tourism would do well to consider this investment. These types of apartment lifestyle residences are popular in cities and large towns and appeal to buyers on a small budget.
However, around the Aegean and Mediterranean coasts, three to six bedroom villas appeal to buyers with a higher budget and those who want to live in Turkey all year round. Most feature private swimming pools, terraces, patios, and gardens. The significant aspect of this housing style is that you can tailor everything to your design, including the kitchen and bathroom decor. Some buyers also add additional extras like built-in wardrobes, Jacuzzi baths, garden barbecues, coving and laminate flooring.
Where to Buy Off Plan Property in Turkey?
One major area where off plan property in Turkey investments makes much sense is Istanbul. On the upcoming new suburbs of Istanbul such as Bahcesehir, Beylikduzu and Esenyurt, where the city's professional workforce is gravitating toward, off plan projects present the buyer with a steep discount to market and staged payment plans to ease the purchase process. Well-established developers operating in these areas offer bank guarantees in place as insurance against non-delivery. Buying off plan has advantages in these areas, where property prices are rising year-on-year.
Buying Process for off plan Turkish property
The process for buying off plan property is easy and quick to complete. The first step is finding your new home, and you can do this by calling us to arrange a viewing time and date or by browsing our extensive portfolio of homes for sale. Once you have chosen your home and paid a deposit, we walk you through the entire process including contracts, choosing a lawyer, paying taxes, signing for your title deeds and putting your key in the door. Please speak to us to find out more about buying off plan property in Turkey.