Once home to the world’s two largest empires, Istanbul, today spans two continents with a population of more than 15 million and the historical sites of Istanbul welcome millions of visitors every year. Not just with its historical beauty, but also with finance, trade, service industry, and even in the recent years series’ industry in the region has increased its influence in the field of tourism and real estate investment.
Based in Istanbul, www.piturkey.com is the premier property management and real estate firm in Turkey, bringing professionals from a myriad of different backgrounds and experiences together to bring you the highest quality of service available.
Our mission is to guide you as simply as possible through the complicated, paperwork-ridden world of real estate, from securing a title deed and all the way through property resale. Our suite of expertise includes capitalization on investment opportunities, navigating legal pitfalls, and finding valuable cost savings. So, in this article we bring you some key important considerations to never forget while making a real estate investment in Turkey.
Developer/Contractor
Developer is the person who will either let you fail or make you really happy. Make sure you know your developer really well and look for the testimonials. Questions like…is your case their first project or have they delivered in the past as well? How is their financial management capability? Does the land belong to developer or not?, must be well answered
Also, have a look at the list of responsibilities of a real estate developer;
- Making sure that the land is not under any legal dues or disputes
- The developer should arrange the necessary funds, finances, planning of budget, raw material required for the project.
- Specific details about the projects like built-up area, carpet area, project plan and other necessary details should be explained and shared with the customers.
- Before starting the construction process, the developer should get complete legal, regulatory and statutory clearances.
- It is a developer’s duty to check with the municipality and make sure there are no pending notices or requisitions regarding the property.
- Should keep the customers updated with the project progress.
www.piturkey.com is a platform which can liaison between its clients and well reputed experienced developers to protect the investment deal.
Location
Turkey is one of the most promising real estate markets in Europe. Strategically situated at the crossroads of Europe, the Middle East, and Central Asia, and home to almost 81 million people, Turkey offers great opportunities for real estate developers and investors by combining a large construction sector with growing commercial and industrial output.
Istanbul being the bridge between European and Asian continent has the greatest attraction for investors to choose it as their investment decision. Double check the location. Many companies advertise for their project for a certain location but actually the project they are trying to sell is based on entirely another location. For example, if the advertised project is for Beylikdüzü or Bahçeşehir.
If you are not sure about choosing the suitable location for your investment, talk to us and let www.piturkey.com take care of offering you the location that suits all your property investment needs.
Payment Terms
There are two options for payments, either lumpsum cash or a payment plan for up to 3, 4, or 5 years with or without interest.
Sometimes choosing the payment plan without interest can be a profitable deal for you instead of paying a lumpsum amount. Try to negotiate for the discounts in both of the options. If they are making huge discounts on lumpsum cash payments then it means there could be some hidden interest.
Negotiate well! If you cannot negotiate, then let www.piturkey.com help you do it on your behalf.
Title Deeds
This is the most important part of your investment deal. Imagine that you are buying a car but the car license is on someone else’s name but you paid for the price. Even though you will drive the car but someone else will own it, how would you feel?
Same thing goes for buying the properties and apartments. When you are buying a property, always ask for title deeds, regardless of your choice to pay via a payment plan or lumpsum cash. Title deed in your own name should be the priority to make sure that you will own your investment. This will secure both you and the developer.
As a beginner, knowing about your developer, location, payment plan, and title deeds are very basic and important factors to bear in mind before handing over your hard-earned saved money to your real estate advisor because your long-term planning for your future is based on the knowledge in this area. The more you know, the more successful you will be!
Answering your Questions Makes us Happy!
Please go to www.piturkey.com to fill the contact form and wait for a call from us. Or if you are too excited to wait for working with us then call us at +90 (531) 285 90 04, we shall be glad to assist you.
