SHOULD YOU BUY PROPERTY IN TURKEY?

uzman

2 years ago

What Will Be the Increase in Rent Prices in Istanbul in January 2022?

SHOULD YOU BUY PROPERTY IN TURKEY?

Your first impression might be that purchasing real estate in Turkey is a good deal. Despite low prices and relatively high rental yields around the 5% range, there’s large degree of risk though.

It’s likely that you’ll end up losing money rather than making a return on your investment due to the lira’s declining value.

Don’t expect your net yields to approach 5% in reality either. Vacancy rates are generally high in Turkey, so after deducting repairs, damages, and the fact that you probably won’t have a tenant all the time, expect lower yields. Not to mention you’ll get paid in terms of Turkish lira.

Regardless, Turkey offers one of the most attractive citizenship by investment programs in the region. Don’t let us stop you if your goal is buying a second home or obtaining another passport.

So buying real estate in Turkey is still a solid choice if you’re looking to get a second citizenship. If having another passport is your top priority instead of profit, then real estate in Turkey may be worth it – just don’t expect an optimal investment.