Choose between old and new Türkiye properties

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Choose between old and new Türkiye properties

Differences, positives, and common points between real estate in old and new Türkiye, get to know them

Choose between old and new Türkiye properties
19th April 2023
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In the real estate market in Turkey, you are faced with many options between the old and the new, which one is better for you for real estate investment or even for housing and residence? What are the advantages and differences that you should take into account? Through this article, the editorial team at Binaa Real Estate Company will shed light on some details and information in this regard.

 

Characteristics of old Turkish real estate

 Old real estate in Turkey is characterized by its high value, due to its geographical location and rich history, which makes it a good choice for investors looking for profitable financial returns.

 

 Old real estate in Turkey is distinguished by the wonderful artistic designs that make it the focus of attention of many visitors, and investors can benefit from these designs in renting real estate to tourists.

Investors can get good financial returns from renting old properties in Turkey, as these properties enjoy a high rental value due to their location and artistic designs.

 

 Investors can renovate old properties in Turkey and turn them into modern and luxurious properties, which increases their value and attractiveness to visitors and tourists.

 

 Old real estate in Turkey has affordable prices compared to modern real estate, which makes it a good choice for investors who want to get a profitable financial return.

 

 It has a rich culture and heritage, where investors can take advantage of these properties in renting them to tourists who want to enjoy Turkish culture and heritage.

 

The features of newly constructed real estate in Turkey

Newly constructed properties in Turkey are characterized by modern and attractive designs, as they are designed with the latest technologies and innovative architectural styles, which makes them an ideal choice for people looking for modernity and elegance in their properties.

 

It is characterized by many modern services and facilities, such as swimming pools, gyms, and other great facilities, which makes it an ideal choice for people looking for luxury and comfort in their properties.

 

It is characterized by excellent locations, as it is located in vital and central areas in Turkish cities, making it close to basic services and facilities, and easy to access.

Newly built properties in Turkey enjoy a high investment return, as the price of these properties is constantly increasing, which makes it an ideal choice for people who want to invest in real estate.

 

Newly built real estate in Turkey enjoys safety and protection, as it is characterized by the latest security and protection systems, which makes it an ideal choice for people looking for safety and protection in their properties.

 

 It is characterized by its ease of maintenance and management, and the advanced technology that is used in its construction, which makes it an ideal choice for people who want to acquire modern and modern real estate in Turkey.

 

The cons of buying old apartments in Turkey

One of the main drawbacks of buying old apartments is that they may need significant maintenance, and this requires additional costs for the investor as it may also lack some of the advantages that are available in modern apartments, such as modern design and modern technologies.

 

Moreover, buying old apartments can lead to problems with neighbors, as some of them may not be responsible for the necessary maintenance of the building, which leads to the deterioration of the building's condition in general.

 Some of the old buildings may not conform to the current standards, and therefore the investor may be subject to fines and penalties from the government.

 Investors should be aware that buying old apartments can lead to a delay in the process of selling them, as old apartments are not always desired by buyers, and therefore it can take longer to sell.

Cons of buying new apartments in Türkiye

 It should be noted that the prices of new apartments in Turkey are constantly increasing, as a result of the increasing demand for them thus, this requires the payment of large sums, which may reach unreasonable levels.

 

 There are many companies working in the field of real estate in Turkey, and this means that the competition between them is intense, and therefore, customers find themselves in a difficult situation when choosing the right company for them.

 

General notes when buying real estate in Turkey

 It should be noted that contracting with developing companies in Turkey can be difficult, due to the difference in language and culture, and this may lead to some problems in the contracting process.

Buyers may face problems in the process of handing over the apartment, due to delays in completion or other reasons, and this may lead to delays in obtaining the apartment and delivery.

 Buyers may encounter problems in the maintenance process, due to the lack of specialized maintenance companies, or the unavailability of spare parts, and this may lead to delays in the maintenance process and additional costs.

 It should be noted that the legal procedures in Turkey differ from those in the buyer's country, and this can lead to some problems in the purchase and registration process.

 

Common questions:

1 - What are the differences between buying a new property and buying an old property in Turkey?

Buying a new property means that it has not been used before, and these properties are usually built using modern materials and modern technologies, which makes them more attractive to investors and buyers and another advantage of buying a new property can be that there are plans drawn for the building, meaning that the space can be allocated in a more efficient and effective manner.

 

As for buying an older property, it can be more challenging, as it requires a lot of work and renovations to make it ready to move in but there can also be some advantages, such as a good location, unique design, and cultural history.

 

2 - What are the necessary procedures to buy a property in Turkey?

If you want to buy a property in Turkey, you have to follow some necessary procedures as first, you must obtain your personal identification number from the Turkish authorities and then you have to open a bank account in Turkey and transfer money to this account then, you should contact a local real estate agent to help find the right property and make the purchase.

 

It is important to make sure that the property you want to buy complies with Turkish laws and that there are no legal problems related to it and you must also check the validity of all necessary documents and ensure that they are reliable.

 

3 - Can foreigners buy real estate in Turkey?

Yes, foreigners can buy real estate in Turkey, according to Turkish laws as foreigners must obtain a personal identification number from the Turkish authorities and open a bank account in Turkey, and foreigners can buy real estate individually or through partnership with local investors.

 

Foreigners must also abide by Turkish laws and regulations related to the purchase of real estate, and make sure that the real estate they wish to buy complies with these laws.

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