How to avoid getting trapped when buying real estate in Turkey?

Real estate market in Turkey: Current trends

Currently, the real estate market in Turkey is showing significant growth: apartment prices are constantly rising, and the number of people looking to move to this country is only increasing. This interest attracts considerable investments, but an important question arises: how to avoid making mistakes in this process and protect oneself from fraud?

In a conversation with a real estate expert in Turkey, Alexey Valentinovich, who is the founder of the large Russian-speaking company "Russians in Antalya RA," we will discuss how to properly acquire property on the southern Mediterranean coast. This category includes iconic resort regions such as Antalya, Alanya, Kemer, and Mersin.

Forecasts and changes in the market

Aleksey Valentinovich emphasizes:“There is no evidence that housing prices in Turkey may decrease.”The future of prices remains uncertain, but it's unlikely that we should expect a reversal of the trend.

He also notes the change in the market:“I have been living in Turkey for almost ten years and have noticed a significant increase in the population.”People have become more noticeable in shops, restaurants, on the streets, and even on the beaches. It's not just tourists who are temporarily visiting the country, but also those who decide to stay for a long time. This trend has become particularly evident since the beginning of 2021, and in 2022, migration to Turkey became a real trend. In particular, a significant number of Russian-speaking people are actively moving to this region.

Supply and demand in real estate

Due to the growing popularity, the demand for housing in sought-after cities has started to exceed the supply. Over the past six months, rental prices in resort areas have increased two to three times, and in some cases, even four times.

• For example, in September 2021, renting a two-bedroom apartment with one living room would have cost around 400-500 euros per month.
• Today, such options are already being offered for 1000-1500 euros per month.

Tenants are willing to pay six months' rent upfront, as in the current conditions, it is the owners who control to whom they rent out their property. High-quality apartments have become a real point of competition among tenants.

Prospects in the sales market

The real estate market is experiencing a similar trend. In recent months, the cost per square meter, expressed in euros, has increased by 20-60%. Experts suggest that new waves of immigration are ahead, making the housing market even more vibrant and attractive.

These conditions open up new horizons for both investors and those looking to find a cozy place to live in friendly Turkey.

Main findings

Thus, the situation in the real estate market in Turkey continues to evolve, and despite the uncertainty of the future, it is unlikely that this trend can be stopped. The main factors when buying or renting remain:

• Detailed market analysis
• Choosing reliable offers

This will help avoid unnecessary risks and disappointments. Thus, Turkey is increasingly strengthening its position as an attractive destination for investment and comfortable living every year.

Trends in the real estate market

It is impossible to predict the exact increase in real estate prices, but it is important to consider the impact of seasonal factors on migration flows. Summer is just around the corner, and with it, we can expect an increase in the number of tourists, which, in turn, will create additional demand for housing.

An important aspect of this situation is also the rise in prices for construction materials. Since most of these materials are imported to Turkey, any increase in their cost is immediately reflected in the market value of real estate. Therefore, there is no reason to believe that prices for apartments and houses in Turkey could fall — it is more likely that we will see further increases.

Growing interest from foreign buyers

According to analytical data from one of the leading agencies in Turkey, in January 2022, the number of foreign buyers interested in purchasing real estate increased by59%compared to the same month of the previous year.

The highest increase in housing prices per square meter over the past thirty years has been observed in cities such as:

• Aydin
• Istanbul
• Antalya

In particular, in Antalya, the annual increase in the cost of one square meter amounted to124%in the national currency, and the average price reached5455Turkish lira (about340 euros), while the total cost of the housing amounted to670965Turkish lira (approximately)42,000 euros).

Reasons for the rise in prices in Antalya

Personally, I am not surprised by such significant price dynamics in Antalya. This amazing resort has its own unique conditions and opportunities. There is active modernization of the infrastructure here:

• New roads are being built.
• Shopping and entertainment complexes are developing.
• The embankments are being updated.
• modern restaurants are opening

Special attention is paid to the safety of both residents and guests, which is a significant advantage. As a result of this progress, people have the opportunity to enjoy a high standard of living at prices that are quite affordable compared to Europe.

Long-term trends in price growth

For twelve years, there has been a steady trend of rising housing prices in Antalya, and over the past year, this process has accelerated sharply. During this period, there has not been a single recorded drop in prices.

For example, if a few years ago an apartment with one bedroom and a living room in a good area was being asked for around60000The euro, so today the same area will cost almost twice as much. In fact, there are practically no free plots of land left for development in the city — everything is already densely built up.

Deferred demand and investment opportunities

It should also be mentioned that the growing pent-up demand associated with open borders has a significant impact as well. During the pandemic, Turkey remained inaccessible to foreign buyers for a long time, but now they have the opportunity to invest in the developing real estate market.

Such deals do not always imply moving to the country; many buy property "just in case," which allows them to earn passive income. In such conditions of instability, it is important to make a thoughtful choice and not rely on rumors that can be misleading.

Russians often claim that Western countries lack history, but this raises the question: why does Turkey attract their interest? What prevents them from focusing on destinations like Cyprus or the United Arab Emirates? The fact is that Turkey serves as a convenient "haven" for investors and those looking to relocate. Here, one can come with minimal risks and without serious restrictions.

Advantages of Turkey for investors

Given the current situation, the ability to fly from Istanbul to any country in the world is quite significant and plays an important role. Turkey offers favorable conditions for tenants:

• When signing a long-term contract
• Payment of a two-month deposit
• Obtaining a legal residence permit for a period of up to one year

After that, there is a chance to obtain a two-year extended residence permit, which is quite a challenging task in other countries.

Citizenship through investment

Another significant advantage is the possibility of obtaining Turkish citizenship through real estate investments, with a minimum amount of250,000 dollarsIt is important to note that it doesn't matter whether you are purchasing one or several properties — what matters is the total amount of investment. Those interested in this process can find comprehensive information on specialized resources.

Infrastructure improvement

In recent years, Turkey has become more accessible and understandable for Russian-speaking citizens. Services have significantly improved, and the infrastructure has undergone noticeable changes:

• New educational institutions have opened.
• Medical institutions have emerged.
• Recreational areas for children were developed.

Many areas can now boast modern shopping centers, and there has been an increase in cultural events and cafes. In this context, it's worth noting the availability of Russian products in local markets, including sausages, traditional black bread, and kvass. Interestingly, pig farming is becoming more and more developed in Turkey.

Climate and population tolerance

Moreover, the climate in Turkey is excellent: the Mediterranean Sea and almost three hundred sunny days a year make this country very attractive. The local population is characterized by tolerance towards all cultures and nations, which creates conditions for harmonious interaction among different ethnic groups.

Russian-speaking community in Turkey

I am the founder of the largest Russian-speaking community in the world — "Russians in Antalya RA," which today has more than107,000 participantsThis platform provides every Russian-speaking resident the opportunity to receive advice and assistance regarding:

• Real estate purchases
• Selection of realtors
• Organization of everyday life in the city

Conclusions

This resource also provides information about neighborhoods worth considering for purchasing an apartment. Thus, Turkey as a country for living and investment opens new horizons, combining comfort, opportunities, and cultural diversity, making it a truly attractive option for many.

Areas of Antalya for real estate purchase

In Antalya, there are certain areas where foreigners should exercise caution when purchasing real estate.

Many first-time buyers in the Turkish residential real estate market decide to purchase apartments within the first few days of their stay in the country. Often, their decisions are based on emotional perceptions, which makes them vulnerable to scammers offering properties with various issues or those that will be difficult to sell in the future.

What is problematic real estate?

How is problematic real estate defined? This includes, for example, residential buildings that do not have a title deed. In Turkey, you can find many such offers in various regions.IskanIt is an official document confirming that the building has passed all necessary inspections and has been put into operation. To obtain it, the developer must comply with all construction standards and settle any debts. However, even if the document is missing, the developer can still sell apartments in such buildings.

It should be taken into account that utility payments for residents will be charged based onincreased rateThis significantly increases costs. Moreover, there is a risk that a house without a permit could be demolished as an illegal structure. Although such demolitions are quite rare, it is not advisable to completely ignore this risk.

Issues with acquiring land plots

Another common mistake is buying land in unfavorable and unattractive locations. Many bet on the idea that they will be able to build their own residential house on this plot, but soon realize that constructing a permanent dwelling is impossible. In some areas, only minor structures, such as summer cottages, are permitted to be built.

• This often happens when purchasing land in protected natural areas and reserves.
• There are numerous "pitfalls," and potential buyers often find themselves in such situations, acting under the influence of emotions.

The necessity of realtors

Additionally, future buyers are wondering: is it possible to purchase an apartment in Turkey independently without intermediaries? Recently, there have been many listings from owners looking to sell their apartments, but now such offers are becoming increasingly rare. In fact, buying an apartment in Turkey without assistance...realtorpractically impossible.

In every district of the city, there are realtors who are well-versed in the local market and have good connections with sellers and buyers. It is quite difficult to obtain complete and up-to-date information about real estate online, as personal connections play a crucial role.

Advantages of working with realtors

To find a truly advantageous offer, it's worth consulting several specialists. Although some of their proposals may overlap, each realtor has their own unique options that competitors do not have. Usually, it is these specialists who have the trust of specific property owners, which increases the chances of successfully acquiring an apartment.

Experienced real estate agents can provide not only advice on choosing property but also essential information regarding the legal status of the properties, the legal aspects of the transaction, and potential risks. Therefore, it is important to entrust the purchasing process to an experienced specialist to avoid unexpected issues in the future.

It is also important to pay special attention to the financial assessment of the deal and any potential additional costs that may arise after purchasing the apartment. Remember that it is best to make decisions about real estate investments after thorough analysis and gathering all necessary information, rather than acting impulsively and risking your funds.

Conclusion

In concluding our discussion about the real estate market in Turkey, it is essential to emphasize how important it is for potential buyers to be informed and cautious. We are witnessing a significant rise in housing prices, driven by both internal factors, such as increased demand and infrastructure development, and external factors, including the influx of foreign investors and migrants. Alexey Valentinovich, as an expert in this field, shares valuable recommendations on how to avoid potential risks and not fall victim to fraudsters.

Key recommendations

It's no secret that in conditions of increased demand for housing, every decision must be made consciously, and every transaction should be thoroughly checked. I strongly recommend:

• To consult experienced realtorswho know the market and its nuances.
• Consulting with lawyersto protect your interests at every stage of the purchase.
• Check all documentsrelated to real estate.

Advantages of the real estate market in Turkey

Turkey offers numerous advantages – from beautiful landscapes to lucrative investment opportunities in real estate. However, these opportunities also come with certain risks that are important to consider. I sincerely hope that this article will help you navigate this rapidly evolving market better, and that the information provided by me and Alexey Valentinovich will be useful for you in making an important decision.

Your step towards new real estate

Now that you are armed with knowledge about current trends and recommendations, pay attention to your journey into the world of Turkish real estate. Your dreams of an apartment on the southern Mediterranean coast can become a reality, and I wish you good luck in this important step!

Strive to ensure that every step is well-considered and that decisions are made based on carefully gathered information.Invest wiselyAnd may your shopping experience be nothing but positive.