When looking forward to investing in Turkish property, spring is the ideal moment. During this period, most sellers put their properties on the market to prepare for the summer. In May and June, property owners list their properties to wait for buyers before the summer holiday begins. With the dark days of winter gone, developers in various locations with villas, apartments, and homes across the country look for buyers. Taking the plunge to invest in Turkish property before the summer is a trick to get the best property before other buyers flock the country.
Reasons to buy Turkish property in spring:
Below are the reasons to buy Turkish property in spring:
Getting the best new build property first
There are strict tourism laws in various coastal areas of the country. Building new homes and heavy construction in various resorts happen during the off-season between November and April. This gives holidaymakers a chance to enjoy a peaceful and quiet environment. Property developers only get busy during the winter with grueling 24/7 schedules to complete their projects in time for spring and summer. By the end of March, there are various villas and apartments on the market in the country for property investors to buy.
March and April are the best moments when knowing house prices in Turkey before the market becomes busy. This requires viewing various new projects to select that with your preferred size, view, and location. Additionally, there is also a likelihood of checking out projects nearing completion. This gives you a chance to pick out the best before other buyers hit the market. There are also higher chances of negotiating a better deal with the property developer after finding a property with fixtures and fittings that match your preferences.
Potential for premium rental returns in summer
Turkey is a favorite destination and receives millions of tourists annually. There is great potential for property owners to make some good money when the tourists come. Most of these prefer residing in holiday-let villas and apartments compared to hotel rooms. Investing in property in spring allows getting significant returns on your investment from May to October.
Spring is the best moment to invest in Turkish property for sale in tourist favorite areas. Here, there is great potential to reap big from the location rental history. Purchasing property now in Turkey allows making early bookings for the summer season. By the time other investors begin looking for properties, you will have made an effort to get some returns from your investment.
Easier to view available properties
Winter is a cold moment to move often. And, the summer is usually hot with occasional soaring temperatures. So, property inspection in winter and summer is very hard. Luckily, March and May during spring are warm and sunny with light weather in the evenings. Inspecting potential properties during this weather is quite comfortable.
Cheaper flights
It is so easy to browse available properties for sale in Turkey online. However, one of the best ways to purchase property is by undertaking a physical inspection. This confirms that you see on the property listing matches what is actually on the ground.
So, after noticing some potential property, you might have to board a plane to Turkey for a physical inspection. Luckily, flights are cheaper in spring as the first charter flights begin regular services. There are high chances of getting a good bargain on your plane ticket to physically inspect the potential property.
Other factors that influence buying Turkish property include
Exchange rate
The best moment to invest in Turkish property is when your home currency is stronger than the local Lira. So, keeping the exchange rate in mind can help make significant savings for your investment. Luckily, the Turkish Lira is not that strong on the exchange market to give foreign buyers buying opportunities. Timing when the local currency is at its lowest is a trick to own the best property in Turkey without spending much.
Buying off-plan
Finally, the best moment to invest in Turkish property is buying off-plan from the developer directly on credit. Property developers sell off-plan to lessen financial risk. This sales strategy allows developers to raise capital. It is a cheaper form of funding to complete projects without borrowing from the bank.
This requires displaying home plans to potential investors to allow them to purchase before building. You can invest in such property after doing enough research and understanding the reputation of the developer. Investing in Turkish property off-plan offers significant benefits including:
- Choosing an ideal location, layout, and finishing materials
- Offers building guarantee as the first owner
- Acquisition of property without spending much
- Property acquisition at substantial discounts
- Opportunity to sale property before the completion
Bottom line
Turkey is a wonderful location for everyone looking forward to building their real estate portfolio. However, spring is the best moment to view and invest in property here before other investors come. This comes with a chance of making some early summer bookings that allow getting your return on investment much faster.
