What you consider when purchasing an apartment in Turkey. Turkey's real estate newspaper published list of recommendations

Special low-interest-rate mortgages offered by Turkish banks have significantly boosted property sales. Emlak Kulisi has published recommendations for those planning to buy an apartment in Turkey. So, what should you consider when choosing and buying an apartment or house?

• Do not rush. Decide on the purpose of purchase: do you need an apartment for living or investment? If you are looking for a home for yourself, you should pay attention to the home plan and the following two points. If for investment, it is worth exploring the development potential of the city and the region (how fast real estate will grow in price), estimate rental prospects (what are the rent rates and how rentals are popular in your area).
• Paying attention to the location of the house and how close it is to your workplace (so that you do not have waste a lot of time on your daily commutes).
• Consider the transport accessibility of the house.
• Monitor an average monthly rental to calculate when the rental will pay for the cost of your apartment (divide the cost by the annual rental income).
• Monitor property listings in the area (or in the development project you are interested in) to make sure if the price is not too high.
• Check if there are any green areas close to the property, because they can increase the value of your property.
• Carefully study the TAPU of the apartment, the architectural design of the project itself (make sure that there is no difference between what is on paper and what is actually built: location, living space and etc), and Iskan (document indicating the official completion of construction). Do not forget to check the property management company (it is worth examining the reviews before making a purchasing decision).

In early June, the Government of the Republic of Turkey launched a new program of housing loans with lower interest rates in order to support the construction sector (according to the statement of the Minister of Finance Berat Albayrak). Housing sales are expected to increase from June 1, 2020 and break a historical record.