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Questions from newbie looking for obtaining passport and buying properties in Turkey

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LYY00852

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Hi, all friends in the forum. So happy to meet you all and grateful for admin for hosting this wonderful place for knowing friends in Turkey.

I am now considering buying a property and obtaining a passport in Turkey; for a second home and possible retirement destination. However, I have so many questions in my mind that I would like to clarify before proceeding ahead. Would like to have your patience for my questions:

1. As I primarily want to ensure that the property is liquid enough for sale after 3 years of holding period, I am currently considering buying second hand properties in the central district of Istanbul [eg. Nişantaşı]. Is it a good location to choose in view of preserving value? Or are there other good districts in Istanbul to consider as well? Usually how long you have to wait for a sale once you list your Istanbul properties in the online portal, 2-3 months or up to a year if reasonably priced?

For other regions of Turkey, eg. eg. Ankara, Antalya, would it takes a lot more time to wait for a sale, eg. up to 6 months - 2 years as the number of sales in those regions are much smaller?

2. For earthquake risk, which parts of Istanbul are more safe in this regard, as I would like to avoid catastrophe if earthquake occurs?

I heard that properties after year 2000 will be built up to a certain standards, however is it just a gimmick as most likely the developer would be quite corrupt and use substandard material / method for building and bribe the official instead to save cost? So those built after 2000 will likely not worth the extra premium. For a safer cost effective approach, would you consider buying 2-3 properties older than 1960, which has stood the test of time and not crumble after dozens of earthquakes, is a better strategy to employ?

3. For retirement purpose locations, some online information reveals that Central, Southern and Northwestern parts of Turkey are less susceptible to earthquakes [eg. Konya, Anamur, Kırklareli, Edirne], does it mean that historically there hasn’t been any buildings collapse in these regions in recent decades?

Are there any advantages for choosing more popular locations such as Izmir and Antalya, despite higher risk of earthquakes and building collapse?

4. For agricultural properties or empty land, which are least susceptible to earthquake damage, how liquid are these properties on the market? Would one need to wait very long for a sale to occur [eg. >1-2 years]? 

5. In case an earthquake occurs and your building collapses, how reliable do we expect the Turkey insurance companies to provide compensation? Would they just declare bankruptcy and default all payment? As read from history in 1999

http://www.tumgiad.com.tr/?Syf=26&Syz=725091&/T%C3%BCrkiye%E2%80%99nin-sars%C4%B1c%C4%B1-ger%C3%A7e%C4%9Fi-DEPREM

Most of the contractors which built lousy buildings were left unpunished and no compensation from contractors was paid to the victims. But how about the insurance companies, do they pay to the victims in the earthquake in 1999 and in recent years? Do they pay the whole construction fees of the buildings or just small part of it?

Thank you very much for your help!

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