The demand to buy an under construction apartment within projects in Turkey has increased, due to the low prices compared to ready projects.

Therefore, it is a perfect opportunity, especially for those wishing to take advantage of the installment options, and the profits regarding the increase rate of properties’ prices.

Why Choose Under Construction Projects in Turkey?

Buying an under construction apartment in Turkey can be a golden deal, assuring double profit to the owner.

This is due to the possibility of investing the apartment in several ways, such as renting, or reselling at a double price, which increases the investment profits.

Modern residential complexes in Istanbul can be taken as a realistic example of real estate that doubles in price and increases in value over time, thanks to its establishment in good areas suitable for tourists among tourist or archaeological attractions, as well as quiet and comfortable areas for housing.

There are projects located in the city center, or in charming views, and the availability of a major transportation network within the area occupies a key importance in determining real estate prices.

Benefits of Under Construction Real Estate Projects in Turkey

Owning an under construction projects in Turkey has many advantages, which attracts foreign investors. These advantages are summarized in the following points:

• The prices of apartments in projects that are still under construction are significantly lower than their prices in ready-made projects, and thus the multiplicity of purchase options.
• Payment by more than one installment options, a sum of money is paid as a first installment, then the rest of the installments come over long periods, some of which reach 10 years.
• The advantage of the available offers, such as discounts on residential and commercial properties, offered by some real estate companies, on under construction projects.
• The prices of residential apartments after their construction are higher than the price during the contract, and thus achieve a large profit from the investment, by selling or renting immediately upon receipt.
• In many cases, paying in installments in projects and complexes that are still under construction is cheaper than paying in cash! Where the investor benefits from the exchange rate difference, as he converts these installments often in dollars, while the price of real estate in Turkey is in Turkish lira; This means a decrease in the value of the monthly installment as the repayment years increases gradually.
• The government guarantee is a unique feature when buying some real estate in Turkey, where municipalities or government-affiliated companies supervise the implementation of the under construction projects, and ensure their delivery within the specified specifications and deadlines.

Advantages of Residential Complexes in Turkey

Residential complexes in Turkey occupy great attention to construction companies, that are working to link them to a series of service and recreational facilities, and encourage the ownership of apartments, whether for residence or investment.

Among these facilities and services: water, electricity, gas, telephone, fiber optic internet, cleaning, protection, and others; Forms and ways of luxury and comfort.

The residential complexes, after the completion of their construction, will be integrated, providing an ideal atmosphere for living thanks to the recreational facilities that it provides to the residents.

In addition, the most prominent recreational facilities of residential complexes are usually: swimming pools, saunas, Turkish baths, children's playgrounds, sports centers and playgrounds.

As well as the commercial malls and shopping centers, and even kindergartens and boarding schools that meet the daily needs of the population.

In addition to educational and health facilities, such as hospitals, medical centers, universities, international and Turkish schools, and kindergartens, all of which are scattered in points close to the new housing projects in Turkey.

These various service facilities, along with the buildings of the residential complex, benefit a 24-hour security and monitoring using the highest modern technologies, in order to achieve reassurance and safety for the residents.

The Right Time to Buy Under Construction Apartment in Turkey

Several under construction projects in Turkey represent golden investment opportunities, if the investor decides to engage the real estate investment market, by buying cheap apartments in Istanbul within the new residential complexes.

The prices of the under construction properties are attractive to many investors, due to the lower prices compared to the ready properties.

Which means that the investor has a great opportunity to choose the model he prefers in the residential apartments, and has the multiple options to choose between many alternatives or according to demand in terms of size, space, division and view, that matches the budget, and the preferred areas.

There are even other opportunities when paying the price of the apartment. The method of payment can be in installments within multiple payments over the long term, according to what is agreed upon with the construction company based on the building.

While some construction companies in Turkey offer investors the opportunity for long-term installments that extend for periods from 1 year to 5 years mostly, and sometimes up to 10 years.

As mentioned above, payment in installments provides an advantage in price for those who pay their installments in a foreign currency, because the exchange rates are constantly rising against the Turkish lira.

Obtaining Turkish Citizenship by Property Ownership

Owning an under construction property grants the right to obtain Turkish citizenship, provided that the title deed is available at the time of payment, which is also one of the factors that attracts investors wishing to make successful investment.

Investors are able to find distinctive properties at competitive prices, and they have the right to sell them after 3 years and during this period, the property's finishing operations have been completed.

Thus, their properties are sold at the prices of ready-made real estate projects in Turkey, which are often higher than the prices of the under-construction projects according to which they bought their properties.

For this, simple steps are required, represented in obtaining the letter of authentication, after completing the contract and receiving the title deed, and then the investor obtains a residence permit, and then he can apply for Turkish citizenship in exchange for buying a property in Turkey.

When granting Turkish citizenship to the investor, he can obtain a Turkish passport, which entitles him to enter 70 countries without the need for a prior visa, as well as travel to more than 40 countries with a visa issued upon arrival.

It is worth noting that real estate ownership is one of the ways to obtain Turkish citizenship, whether through ready projects or under construction, provided that the property price is not less than 250 thousand US dollars, and it is stipulated that no sale or transfer of ownership is required for a period of 3 years.

Tips on Buying Under Construction Property in Turkey

• The property should be checked before the purchase process, and thoroughly examined to ensure that it conforms to the agreed-upon specifications to rectify any defects or defects before receiving.
• It is important to pay attention to the location of your under construction property, near your workplace or your children's schools and universities.
• Researching the construction company's record and its commitment to deliver its projects on time and within the specified specifications.
• It is recommended to go for government guarantee projects, in which companies affiliated with the Turkish government guarantee the completion of the implementation of the project in case the contractor falters.

You can get an apartment that matches your requirements, with competitive prices in a real estate service provided by Brand Property.

Edited by: Brand Property^©