Many aspiring real estate investors are looking to buy an apartment in Turkey and then rent it out. Therefore, it's beneficial for them to understand all aspects of buying and renting apartments in Turkey. In this article, Skyline Real Estate provides comprehensive information about the residential apartment market in Turkey, the advantages of investing in this sector, an overview of apartment prices, and useful tips before purchasing a residential apartment. We hope you find this article informative and enjoyable. Stay with us.

Important Information About Buying and Renting an Apartment in Turkey

The Turkish real estate market has seen significant growth in recent decades. The Turkish government's investment incentives to attract foreign capital through real estate investments have greatly stimulated this market, resulting in a major construction boom across all Turkish cities. This includes the development of thousands of large residential complexes, luxury villas, and massive commercial centers. Additionally, the government has made efforts to provide infrastructure that meets the highest global standards, including roads, healthcare, educational, and recreational facilities.

Turkey offers a wide variety of real estate and residential apartments, providing investors with numerous options in terms of specifications, location, size, and infrastructure. Residential properties in Turkey range from small studios consisting of one room and amenities, to small residential apartments and detached homes with diverse designs and decorations, all the way to large villas and luxurious farms built with the latest designs and highest-quality modern decorations. Prices for these properties vary based on several factors, including location, total area, design, decoration, and finishing.

There are also many new projects and residential complexes under construction where you can purchase an apartment at relatively low prices, then finish and furnish it for investment through rental or resale after its value has increased significantly.

Understanding the Rental Market in Turkey

The rental market in Turkey is as vibrant as the buying and selling market, with expectations of further growth. This is due to the continuous rise in property prices, which makes it difficult for many Turkish residents and foreigners to buy apartments. Additionally, Turkey's openness to the world through attracting investors, capital, business people, providing scholarships, and promoting tourism draws more foreigners who need temporary accommodations. Buying an apartment might be costly for them, and staying in hotels is also expensive. Thus, renting an apartment is the most suitable solution for these visitors. The rental market is influenced by the same factors as the buying and selling market and continues to grow.

Why Buy an Apartment in Turkey

Investing in real estate by buying properties and renting them out is a successful venture for both investors and individuals with some capital looking for a profitable project. Turkey is an ideal choice for this type of investment due to its numerous advantages, including a strategic geographical location that connects Asia and Europe, a moderate climate, beautiful nature, extensive beaches, and stunning landscapes. Moreover, the Turkish government continuously provides and updates infrastructure in all regions. Turkey is also an open country, attracting foreigners from all over the world for investment, work, study, and tourism. All these foreigners are looking for rental apartments, and it is also a destination for celebrities who seek luxury villas and apartments for rent during their visits.

Apartment Prices in Turkey

One of the main advantages of the residential real estate market in Turkey is the wide variety of specifications, prices, and features. There are old-style small apartments in popular neighborhoods at low prices, newly built apartments at relatively low prices that increase significantly after completion, and large apartments in upscale neighborhoods with varying prices. Rental prices for these types of residential properties depend on several factors, such as the type of property, its geographical location, its technical specifications, its overall price, and other factors. Below is a table showing an overview of the prices of residential apartments and homes that you can buy and rent in some Turkish cities:

Tips Before Buying and Renting an Apartment in Turkey

The primary goal of real estate investment is profit and preserving the capital spent on buying the property. However, the Turkish real estate market, like other countries, has its share of fraud and deception. Therefore, it is crucial to exercise caution when buying properties in Turkey. Here are some useful tips before purchasing an apartment for rental purposes:

1. Choose the Location Carefully: The apartment should have a good view, be close to the main street, and receive sufficient sunlight.
2. Verify the Ownership Deed: Ensure the apartment is residential and check if it is ready or under construction.
3. Research Areas with Future Potential: Successful investment involves buying in areas with affordable prices that are expected to grow soon.
4. Understand the Local Rental Market: Compare the average rental prices in the area with the expected returns from the apartment. Choosing an apartment in promising areas is beneficial as property prices will likely increase over time.
5. Evaluate the Apartment's Features and Drawbacks: Check its geographical location, view, proximity to transportation and shopping centers.
6. Check the Legal Status: Visit the relevant land registry offices to confirm the legal status of the property and ensure there are no legal barriers to the sale, such as liens or mortgages.
7. Inspect the Apartment's Technical Condition: Check the building's technical condition, inspect the interior decorations, and ensure all utilities are in proper working order.

In conclusion, this article has provided essential information for those interested in real estate investment through buying and renting apartments in Turkey. We've covered the residential apartment market, the benefits of this type of investment in Turkey, and offered valuable tips to help you choose the right apartment.