Residential or commercial real estate in Turkey, which is better for investment?
Turkey has become one of the preferred destinations for investors to establish their various investment projects and manage their businesses. Turkey offers some of the best options of residential and commercial real estate. Therefore, many investors wonder “Which investment is better, investing in residential or commercial real estate in Turkey?”. And that is what we will see in this article from Ebla Real Estate.
Residential real estate in Turkey:
Property used for residential purposes — that is, developed specifically as a place for people to live — is the most common type of real estate.
Residential investment opportunities usually include residential single-family homes, duplexes, triplexes, quads, townhouses, and condos. Each type of residential real estate has its own specifications in terms of space, design, decorations, and others.
Investing in residential real estate in Turkey:
Investing in residential real estate in Turkey is one of the best and most successful projects that achieves high financial returns through various options such as renting or reselling them.
Among the advantages of investing in residential real estate in Turkey, we mention:
- Ease of finding tenants in residential real estate because people are always looking for houses or apartments to live in.
- Ease of selling residential real estate, especially in areas close to important sites and where there are public service facilities.
- The tax rate in residential real estate is also less than its value in commercial real estate.
- In addition, the investor can manage the investment project in residential real estate in Turkey easily at a lower cost than commercial real estate.
Commercial real estate in Turkey:
Real estate that is utilized by businesses is referred to as commercial property. Office buildings, hospitals, clinics, hotels, shopping centers, boutiques, restaurants, farms, warehouses, and garages are some examples of commercial real estate in Turkey. In basic, it is a piece of real estate that generates income through the operation.
Investing in commercial real estate in Turkey:
Investing in commercial real estate in Turkey has many advantages, the most prominent of them are:
- The high return on investment as there is usually more demand for commercial properties.
- Good financial profits for a long-term period, as the lease contract can extend for a period of 6 years or more, in addition to the possibility of extension.
- The owner of the property does not have to take care of the expenses related to the repair, maintenance, and development of the property. Usually, the tenant undertakes matters of modifying the decor and developing the property in a way that suits his work.
However, if you want to invest in commercial real estate in Turkey, you should take some matters into consideration, including:
- Determine the purpose of buying a commercial property.. (Investing in a commercial office for a long time, or on a seasonal basis, or your goal may be to obtain Turkish citizenship and invest it for a period of three years and then resell it).
- One of the key elements to boosting your business is choosing the right city for the commercial property you invested in.
- The location of the commercial portal you will invest in. The property’s returns increase with how prestigious the location is.
- Performing regular maintenance and improvement work so that you can find tenants fast and sell them quickly. The price will go up the more you do keep it looking stylish and refined.
- Working with a real estate agent will not only help you prepare the necessary permits and documents but also help you find the most suitable commercial property for your investment.
Which investment is better, investing in residential or commercial real estate in Turkey?
Investing in real estate, whether residential or commercial real estate, is one of the best investments in Turkey. However, it is better to invest in residential real estate in Turkey, for several reasons, the most important of which are:
- Residential real estate offers more investment options.
- Moreover, there is more demand for residential real estate, especially from tenants.
- Investing in commercial real estate is more expensive and needs a large amount of money.
- In addition, the tax rate in residential real estate is also less than its value in commercial real estate.
It is worth noting that if you want to invest in residential or commercial real estate in Turkey, you just need to contact Ebla Real Estate, we provide free consultancy and offer the best options of real estate.
Edited by: Ebla Group Real Estate
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