How to save money on buying property in Turkey

A competent investor has no doubts about whether it is profitable to buy property in Turkey. We will tell you how to do it as efficiently as possible and what you can save on.
Published at 29/07/2022
  1. Buying an apartment at the excavation stage
  2. Special offers from developers
  3. Favorable offers in the secondary market
  4. Full payment with bargaining
  5. Buying property in a developing area
  6. What not to save on
1.

Buying an apartment at the excavation stage

Buying an apartment at the excavation stage

If you are interested in how to buy property in Turkey correctly, pay attention to new buildings, especially those where sales have just started. Of course, you will have to carefully check a developer, but the savings will be up to 30% compared to a house that has already been put into operation.  

2.

Special offers from developers

Special offers from developers

The answer to the question of how to buy property in Turkey cheaply can be finding discounts that developers offer on the occasion of any events: major holidays, company anniversary, etc. In addition, the first buyers of apartments in a particular new building can count on a discount, as well as those who choose slightly "stale" layouts. Savings on such offers are up to 5-7%.  

3.

Favorable offers in the secondary market

Favorable offers in the secondary market

When choosing where real estate in Turkey is cheaper, take a closer look at the secondary market. In resort areas, even this segment is quite expensive, but sometimes there are sellers who want to make a deal faster. Financial problems, moving abroad, investing in a business - all this makes people reduce the price of attractive properties. Also, advantageous offers can be found in residential complexes built before 2000. Apartments that require cosmetic repairs are cheaper.

4.

Full payment with bargaining

Full payment with bargaining

If you have the full amount on hand, it becomes much easier to decide how to buy property cheaply in Turkey. Both developers and apartment owners are usually interested in making a deal “here and now”. This opens up opportunities for bargaining, allowing you to save up to 5-10%.  

5.

Buying property in a developing area

Buying property in a developing area

You can buy real estate in Turkey cheaply in regions that are not traditionally considered resorts or are just beginning to be popular with tourists. A good example is Mersin. In this case, in a few years the cost of the apartment will increase by 25-30%. When choosing non-resort destinations, you can bet on year-round rentals on other grounds (proximity to the airport, business districts, etc.).  

6.

What not to save on

What not to save on

When trying to save money while buying property in Turkey, it is important to remember the things that make sense to spend money on.

Independent expertise. A specialist who is not interested in the transaction, but who knows the market well, will tell you everything about the liquidity of the property you have chosen, advise several other options, and answer your questions honestly.

Legal support. A specialized lawyer will help to analyze the sales contract and check the “cleanliness” of the object. It is not always possible to do this on your own.

Conclusions

There are at least five answers to the question of how to buy real estate in Turkey profitably: buy an apartment by the sea at the stage of excavation, use developers' promotional offers, try your luck in the secondary market, try to get a discount on full payment or look at developing areas. Employees of GEOLN.COM will help reduce the risks of such a transaction. Specialists will provide full expert and legal support, taking care of protecting the interests of the client.

How to save money on buying property in Turkey — Advices from experts and reviews of real estate on GEOLN.COM. Photo 7

Diana Kabakci

The leading expert of the real estate market in Georgia
Education: MBA
Sphere: Real estate / Investments / Lawyer
Consultations made: 250
Expert on countries: Cyprus, Georgia, Kazakhstan, Poland
Known languages: Russian / Georgian / English / Turkish
Experience: 14 years
Expert publications: 665