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Fusions

Real Estate for Self Live and Investment

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Good Morning folks,

I would like to know your opinion on the following questions/observations/statements.

I have a genuine interest in buying a property for self live and for investment purpose.

I appreciate to get a feedback from folks other than agents please.

For Investment

  • Based on my research and interaction in the past months, I strongly feel that the real estate market is artificially hyped by the Arab Investors and does not reflect the actual value of the property offered to foreigners.  
  • Many false promised offered that a property unit upon completion in 2 years will generate a 25% min appreciation and profit while the fact is that there are so many many projects in the new areas (which are essentially being the focus of boom) being developed, that why would any one wants to pay cash (with 25% premium) to buy from you, while he or she can simply go for another project in the same area. If he/she wants to buy a ready made, then there is better websites like https://www.sahibinden.com/en which by the reflect the true trans value of a property far less than these so called agents offer to foreigners.
  • I negotiated a property that was offered to me with starting at 600K TL down to 380k TL. This shows that there is a nasty game being played by these agents. 
  • The areas which can profit you are in/around the city center and the projects there are quite expensive and hence out of reach for many foreigners. Hence the new istanbul areas are being offered and are promised with roi which in my opinion is not true. Because transport is key factor in istanbul and being close to the metro is paramount importance.
  • Some of the projects are put on hold for construction and you never know the credibility of the unit will be delivered to you on time or not
  • I believe it is not a market for some one to expect making heaps of money from flipping em. I witness a good drop in holidays properties in antalya and other places like close to 50% drop.
  • To conclude, one has to carefully study the project, make sure the developer is known and has delivered in the past, make sure the neighbourhood has the potential to grow in real etate and close to metro and with a lot of bargain, expect the roi to realize with at least 3-4 years and not like buy -sell in short time.
  • The agents also wont disclose the taxes, vat, withholding tax etc details so in the end your net roi will be so less than you initially assumed.

Self Live Purpose

  • I found turkey quit fits in this area. You can have a reasonable affordable property for self live that suits your luxary style. Similar property will cost at least 3 times in for example dubai.
  • There are some very good projects that I have seen that falls in this category which are a bit far from city center but its worth it. I can share these details if contacted, as I do not want to sound like a sales pitch. I have done a study of such projects.

Cheers

Fusion

 

 

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In my opinion all of your observations are correct, research is always worth the time and effort.

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I would be wary about purchasing simply as in investment opportunity. Politics can change the desire for foreigners to live in any country which may be reflected in the value of property. Having said that, we own here and are perfectly happy living in Turkey, but we are not looking to make a profit.

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2 hours ago, Cukurbagli said:

In my opinion all of your observations are correct, research is always worth the time and effort.

yes it does and am sorry for those who invest without performing Due diligence.

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Real estate investment is not for every one and its not about being a foreigner in a country. In actual face people invested wisely in dubai and made fortune. Most of the millionaires in the past decade come from real estate investment. Turkey is far more stable than other countries in the region in the long run.  I sort of wanted to reach out to any one who could benefit from my experience.

cheers

 

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