Secondary real estate in Turkey
Our clients sometimes ask us what type of properties are better to buy. Should they choose primary or secondary real estate in Turkey? What is more profitable? What nuances is it better to know when purchasing a property? Let's try to figure it out together.
What is primary real estate? The new apartments from developers under construction or ready to move in. Up to 5 years after the construction is finished. Therefore, the secondary housing is everything older or apartments, houses, cottages, villas, and townhouses that previously had several owners. The initial investment in real estate under construction or by instalments is less expensive than buying a furnished apartment. Regardless of the type of real estate on our website, you can buy an inexpensive apartment. Both types have their advantages and disadvantages, depending on a property. Take your time before making the final decision.
secondary housing in Turkey
Real estate in Turkey, secondary market. Pros and cons.
Generally speaking, the main advantages of the secondary housing are a lower price, more developed infrastructure and shorter time needed for all the documentation. The disadvantages are related to the buildings. Plumbing gets older, the design gets outdated. It implies changes and future repair.
Let's take a closer look at the points mentioned above. In most cases, the price of secondary real estate in Turkey is lower than the primary housing from developers. New residential complexes in Alanya, Antalya, on the Mediterranean coast are built according to modern standards. It usually influences the prices. Among other things, you can always negotiate discounts with the owners of old apartments. Not a single developer will do that. And, of course, the location of the secondary housing is crucial. Old houses are usually in well-developed areas. There you find shops, educational institutions, hospitals, pharmacies, shopping centres and many more. When it comes to buying houses and villas, one of the advantages is fruit orchards and landscapes formed many years before.
There are cons, of course. Old buildings are getting older. Time has no mercy to every house, roofs, windows, pipes and wires. Everything sooner or later requires renovation. Today it can cost quite a lot. And if facades are unlikely to be changed almost always after buying a secondary real estate in Turkey, new owners start indoor repairs. Take it into account.
The secondary real estate market in Turkey requires a reliable assistant
Primary and secondary real estate have their strengths and weaknesses. Buying property in Turkey requires careful research. It is important to have a reliable assistant who knows legislation and nuances. Profit Real Estate is a team that can assist you and maybe turn into a good friend of yours in the future.