This video explains the advantages and disadvantages of buying a new property and buying a resale property in Turkey for the acquisition of the Turkish Citizenship by Investment. Foreigners can choose to buy new property and buy second-hand property in order to apply for Turkish citizenship. Both have advantages and disadvantages. Knowing all details about resale property investment in Turkey will make you find better deals in the new projects and also in the second-hand real estate market.
There are many resale real estate listings in Turkey and there is an established market for second-hand properties. It is easier to compare prices and find the best deal in the second-hand real estate market. Foreigners can make real estate market research at sahibinden.com and hepsiemlak.com. They can find the average price per sqm in their desired area and they can find properties that are selling below that average price. Also, it is possible to find sellers who need cash fast and you can purchase a property in Turkey at a discounted price.
Foreigners need to pay attention to the property developer when they want to invest in new real estate in Turkey. I advise foreigners to buy a completed unit in a new real estate development. If they want to buy off-plan property, they have to be sure that they are buying from a developer that already completed many projects. Also, buying from a GYO developer is better, because they have good liquidity and they are being checked by regulatory authorities in Turkey. Biggest advantage of new property is earning good return if that new real estate project changes the neighborhood in a positive way and it will increase your property price too.
Whatever property type you buy, you should make a very good market research, understand the districts and average price per square-meter. Having good market knowledge before buying a property in Turkey will prevent you from being scammed and paying higher prices for your real estate investment.
