Under construction property in Turkey
Many people think that buying an under-construction property in Turkey is an ideal option. However, buying a property under construction has many advantages and disadvantages as we will see in this article from Ebla Real Estate.
Investing in an under-construction property in Turkey:
The word “under construction” refers to a building, structure, or project that is unfinished but actively being worked on.
Many investors want to own a property under construction within a project that has a strategic location and a vital area to achieve high profits. As the property under construction in Turkey is an investment opportunity since you are buying your property at a lower cost and the percentage of profits increases continuously with the rise in real estate prices every year in Turkey.
Moreover, properties under construction achieve high profits between 50% and 300% upon completion of construction work and receiving house keys.
Furthermore, purchasing a house under construction enables investors to invest in several real estate projects at the same time.
Advantages of investing in an under-construction property in Turkey:
- The prices of real estate under construction in Bursa, Turkey are low, compared to the prices of ready-to-move real estate. Thus, buyers can buy a property with the exact location and specifications.. At a lower price if it is under construction.
- Moreover, the buyer of a property under construction has the option to specify the specifications of the apartment and choose the type and quality of the finishes.
- Furthermore, buyers have the opportunity to buy a property in Turkey by installments. Thus, it is a good option for those who do not have enough money to buy a ready-to-move-in property.
- Additionally, buyers get a discount when they buy a property under construction in Bursa by cash.
- The value of the investment property increases when it is ready for delivery.
Disadvantages of investing in an under-construction property in Turkey:
- Delay possession is one of the most common issues related to under construction projects. It is worth noting that the law sets a 6-month delay period as a maximum. If the construction company exceeds the deadline, you, as an investor, have the right to file a lawsuit and receive compensation for delay.
- It is also possible for the construction company to go bankrupt. You can bypass this problem by dealing with well-known real estate companies in Turkey.
- Moreover, there may be some negative surprises in building and finishing after work, other than what was previously agreed upon with the real estate construction company.
It is worth noting that Ebla Real Estate offers various options of properties under construction in vital locations in Bursa city. Do not hesitate to contact us to start your investment project in Turkey.
Edited by: Ebla Group Real Estate
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