Buying Property in Turkey - Quick advice

My VIP in Turkey

When Investing in property in Turkey

Property is one of the most common types of investment. Property investment can take many forms, such as pooled funds to buying a house, or buy to let. As the economy fluctuates, so does the property market. BUT, it will ALWAYS increase in profit over time. This has been proven for many investors in property in Turkey. This video may answer some questions.
BBC - A place in the Sun – Lawyer advice (Video)

What do investors of property in Turkey gain?

Investing in property can give two main ways to make a return:

• Rent – you can earn an income by letting out property to tenants. This is especially interesting to many foreign investors during the holiday period in Turkey. Even long term rent can bring a healthy profit.
• Selling for a profit – Buy property when the market is low and sell it at a higher price.
  

Investors have many varied MOTIVATION to invest in property in Turkey. An example can be:

• Turkey has LOW Inheritance TAX. Many invest for their family as inheritance without paying taxes applied in their home countries.
  
  
   

Risks of property investing

Property prices and demand for rentals can – and does – go up and down. If you’re willing to wait, you can ride out the losses in a slow housing market and earn profits again when times are better.
If you’re over-invested in property – for example, if most of your money is tied up in a buy-to-let property – you may end up in trouble when housing markets slow. To avoid this, you should diversify your portfolio by holding different kinds of investments.
Credit – The Money Advice Centre

Buying property directly – what to watch out for

There are several risks when you buy property directly, whether for yourself or as a buy-to-let investment.

1. You can’t get your money out quickly – unlike shares or bonds, it takes a long time to sell property.
2. It’s a big commitment – when you buy a property, you’re putting a lot of eggs in a single basket.
3. There are buying and selling costs – with estate agent and surveyor fees, stamp duty, land tax, solicitors’ and conveyancing fees to consider.
4. It’s demanding – doing maintenance work and managing property takes time and money. You may need to extend the lease – if you don’t own the freehold outright. This is another cost and can take some time to negotiate.
   

If you use a mortgage or a loan to buy property, there are additional risks:

1. There’s no guarantee you’ll earn enough rent to cover loan repayments.
2. The cost of the mortgage might rise.
3. If you don’t keep up with repayments, the bank or building society can take back the property.
   

Please contact My VIP in Turkey for more advice
Credit – The Money Advice Centre

 

Indirect property investing through a fund

With a pooled (or collective) property fund, a professional manager collects money from many investors, then invests the money directly in property or in property shares. Fund managers charge a fee for this service, which will affect your earnings.
These are all common examples of property funds:

• Real estate investment trusts (REITs)
• Shares in listed property companies
• Property investment trusts
• Insurance company property funds
• Property unit trusts
• Offshore property companies
  

Credit – The Money Advice Centre

Before investing in property

Before you make any decision about investing in property you should find out as much as you can. You can research the potential pros and cons on your own, or take advice. You’ll also want to look at whether a different type of investment might better suit your goals.
We can help and give advice.
You only need to contact us
http://www.myvipinturkey.com