Avoid failure in real estate investment in Türkiye

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Avoid failure in real estate investment in Türkiye

Can real estate investment in Türkiye be a failure or not profitable?

Avoid failure in real estate investment in Türkiye
07th April 2023
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Turkey is one of the most important real estate destinations in the world, as it has a distinguished geographical location, a vibrant economy, and a rich culture and therefore, many investors prefer to invest in real estate in Turkey, but although this investment is largely feasible, there are steps that must be taken to avoid possible failure in this matter.

Therefore, in this blog, we will talk about some of these steps that can be taken to ensure the success of your real estate investments in Turkey.

Determine the goal carefully

Determining the goal carefully is the essential step in real estate investment in Turkey and around the world, as it requires that the investor determine what he wants to achieve through this investment, whether it is high profitability, expansion in the field of real estate, or financial stability as this helps the investor to determine the strategy he wants to follow according to the investment goal, and after defining the goal carefully, the investor can search and study the real estate market in a better way and deal with workers in this sector more efficiently.

Real estate investment in Türkiye

Studying the reality of the market and familiarity with it

Investors must start studying and analyzing the current reality of the real estate market, as this includes viewing the latest reports and statistics issued by the statistics and research agencies, knowing the demand for real estate in different neighborhoods, and their prices, in addition to the services and facilities available in each region.

Likewise, the investor should study the government's economic policies, real estate and tax legislation, and know their effects on the real estate market as when the investor is familiar with the details of the market, he is ready to make the right decisions and reduce potential risks. In general, the steps of careful analysis and study of the market are the basis for achieving a good profit and protecting against any possible loss.

 

Know the rationale for real estate investment

This includes studying the laws and regulations surrounding real estate investment, and the investor must verify the eligibility of the seller and ensure that he owns the property as the investor must be aware of market prices and their impact factors, as this helps to identify good investment opportunities and avoid potential risks as the investor must also carefully define his goals and ensure that all natural, climatic and economic factors affecting his investment are available.

 

 Real estate appraisal before buying

It is necessary to obtain a real estate appraisal report that shows the condition of the property and its evaluation by an accredited expert, and care must be taken to obtain several recent biometric personal photos and the real estate appraisal paper, and you should not rush into the purchase process without verifying the condition of the property and visiting it directly and in the event of doubts about the authenticity of the property or the lack of clarity in some of its information, the assistance of an expert in the field of real estate investment should be sought.

 

Determine the location of the project carefully

Accuracy and caution must be exercised in determining the appropriate area and neighborhood for the desired return on investment, as a thorough study of the desired area should be carried out and knowledge of the real estate market movements in it.

It is also advised to identify schools, hospitals and other vital services in the area, and then evaluate the attractiveness of the area for investors as it is also important to consider the area's proximity to vital centers and the existence of modern transportation, in order to meet the needs of the target audience of customers.

Determine the location of the project carefully, the thing that must be paid attention to, and extensive assistance can be obtained through dealing with a reliable real estate broker who is able to connect investors with the appropriate real offers for them.

 

Review the availability of modern transportation

Transportation plays a crucial role in attracting residents and tenants to real estate units, and it also affects the value of real estate and therefore, experts advise checking the availability of modern public transportation in the area where you intend to invest, as well as the availability of services surrounding the area such as schools, hospitals and commercial centers, all of these factors help increase the value of the property and attract potential tenants and buyers.

 

Dealing with a reliable real estate broker

Investors should choose a professional and experienced broker with a good reputation in the real estate market as investors should also research about the services provided by the company and the extent of its professionalism in providing advice and guidance to buyers as internet platforms can be used to search for reviews of previous users of the broker, in order to avoid dealing with unreliable companies that cause harm to investors and we at Binaa Real Estate are keen to provide you with the most important offers and options without you having to spend time and effort.

 

Choose the construction company carefully

The company's reputation in the market must be investigated, researched, and its previous work analyzed and the extent of its success in establishing real estate projects and in addition, it is recommended to deal with companies of Turkish nationality, as they have extensive experience in the real estate market and follow high standards of quality, safety and compliance with government laws as the investor must also ensure the availability of legal and financial procedures for the project and the extent to which the construction company waives the financial and legal rights of the investor in case of disputes with it.

 

Identifying and overcoming risks

Investors should do a deep study of the factors affecting real estate prices and analyze the Turkish real estate market carefully.

 

It is also necessary to carefully evaluate the properties offered for sale, identify the strong and weak points in the location and the services available in the area, and not be tempted by attractive price offers without ensuring the quality of the property and its suitability for investment as it also advises investors to beware of legal and tax risks and to find solutions to avoid them.

 

Doing field trips

Field tours must be carried out before purchasing in order to comprehensively see the state of the area and its attractiveness to residents and investors as it can also help to get a clear picture of the real estate environment and better understand the details of the real estate market.

Factors affecting real estate prices in that area and the availability of modern transportation and public services, such as schools and hospitals, can be found as the investor must take into account the risks arising from real estate investment and work to overcome them consciously and wisely by reviewing the details of the transaction and verifying the validity of the real estate papers and the contracting parties.

 

common questions:

1- How do I get started in real estate?

You must prepare a well-thought-out plan to operate properly, study the current market situation, and do not forget to prepare an adequate and appropriate budget.

 

2 - What is the percentage of profit in the property?

10% annually, which is a very good rate and may sometimes reach a maximum of 15%.

 

3 - How do you choose the right property?

The location is the foundation, whenever your site is unique, you will be able to reach the pinnacle of success and excellence in your investment project.

 

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#Binaa_investment    #real_estate   #Turkish_citizenship
#Istanbul_apartments    #real_estate_investment

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