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Turkey’s thriving real estate market presents a wealth of opportunities for developers, both local and international. From vibrant cities like Istanbul to scenic coastal regions like Antalya, real estate in Turkey is attracting investors due to its affordable prices, strategic location, and growing demand. However, successfully selling a real estate project in Turkey involves more than just listing a property—it requires a deep understanding of the market, legal regulations, and the preferences of potential buyers.
In this blog, we’ll discuss five crucial facts developers need to know before selling their real estate in Turkey.
When it comes to selling real estate in Turkey, there is a need to be aware of the trends in the market. There are changes in the geographical segmentation of the real estate buying activity, which is characteristic of Turkey. For instance, Istanbul continues to be on top for premium-floor apartment and commercial-property investors whereas Investors in Antalya and Bodrum are mainly searching for Holiday or Second homes.
Recent preferences include smart homes, energy-efficient architectural designs, and improved environmental conservation. There is a growing need for security through compound living in gated communities and accommodation that is priced affordably for the masses, especially those living in suburbs in larger cities. This means that developers who can associate their projects with such trends should be able to reach a wider market of potential buyers, both domestic and foreign, and move their stocks more easily.
An important factor when selling real estate in Turkey is understanding Turkey’s legal system. Several rules require compliance during the sale of a property especially when the buyer is from a different country. However, it is prudent to know that foreigners have the right to purchase properties in almost all parts of Turkey with specific restrictions like purchasing property in military areas or any other restricted areas.
Therefore, developers must make sure that all paperwork from title deeds (Tapu) to construction permits is correct and current to prevent holds up or exhibiting flaws. Transfer of the title deeds requires that the parties to the transaction have to transact directly with the Land Registry Office. One of the best ways to keep it easy and legal is to get into a partnership with legal professionals in Turkey.
Additionally, the legal process for foreign buyers includes tax considerations, such as Value Added Tax (VAT) exemptions on new properties and the implications of Capital Gains Tax on resale. Developers should communicate these aspects clearly to potential buyers to make their projects more attractive.
The option of flexible payment structures for properties is one of the common strategies among developers in Turkey. Most buyers both domestic and international markets would also prefer the installment option rather than paying the full amount at once. For instance, financing options that allow the buyer to make payments in installments, spanning for more than one year are seen as very attractive.
The mortgage market is also strong in Turkey, and property developers who have tie-ups with local banks can provide mortgage financing or low-interest installment schemes to increase the attractiveness of their properties. Many foreign investors are attracted to such structures because they offer more freedom in controlling their investments.
This means that via flexible funding propositions, developers can unlock the selling potential of their projects and boost cash flows.
A key advantage of investing in real estate in Turkey is the opportunity for foreign buyers to obtain Turkish citizenship through the Citizenship by Investment (CBI) program. This program grants citizenship to foreigners who invest at least $400,000 in Turkish property.
For developers, marketing eligible projects with a focus on the CBI program can significantly enhance the appeal of their properties. Buyers from regions such as the Middle East, Asia, and Europe are particularly interested in this program, as it offers them not only investment opportunities but also the chance to secure a second passport. Highlighting the benefits of this program in your marketing materials can attract high-net-worth individuals looking for both financial and personal benefits.
Developers should ensure that their properties meet the program’s requirements and communicate the process and benefits to potential investors.
Marketing plays a critical role in selling real estate in Turkey, especially in competitive markets like Istanbul and Antalya. With a high volume of projects available, developers must stand out by crafting targeted marketing strategies. A strong digital marketing presence is essential for attracting buyers, especially international ones.
Creating an SEO-optimized website, running social media campaigns, and listing properties on real estate platforms such as Rightmove or PropertyTurkey can help broaden your reach. In addition, virtual tours, 3D floor plans, and video walkthroughs allow foreign investors to view the properties from afar, increasing the likelihood of engagement and inquiries.
For developers targeting foreign investors, participating in international real estate exhibitions and partnering with local agents who have expertise in selling to foreign buyers can further increase exposure. Providing multi-language support and customer service that caters to different nationalities can also improve the buying experience, making your project more attractive to global clients.
When it comes to successfully selling real estate in Turkey, having the right partner to manage the entire process can make a significant difference. At Report-TR, we offer exclusive services tailored to the needs of developers, from setting up and managing sales offices to executing effective project marketing and providing comprehensive property management solutions.
Sales Office Management: Our team specializes in setting up and managing on-site sales offices, ensuring that your project has a dedicated and professional team to handle inquiries, guide potential buyers, and close deals efficiently. With our experience, we ensure that your sales office operates smoothly and delivers results.
Project Marketing: We understand the unique challenges of marketing real estate projects in Turkey. Our expert marketing team crafts targeted strategies that highlight the unique selling points of your development. From digital marketing campaigns to international outreach, we ensure your project gains the exposure it needs to attract both local and international buyers.
Property Management: Once your project is sold, our job doesn’t stop there. We offer comprehensive property management services, helping developers maintain high property standards and ensure a seamless experience for homeowners or investors. Whether it’s managing tenant relationships, overseeing maintenance, or handling administrative tasks, our property management solutions are designed to protect your investment and enhance its value.
Partnering with Report-TR means you have a reliable team that understands the complexities of real estate in Turkey and is committed to helping you achieve your sales and management goals.
