As the number of Americans visiting and moving to Turkey increases, the popularity of homes in Turkey increases as well. The 37th largest country, properties in Turkey range from apartments to mansions and restoration homes to the ever-popular Turkey villas.
Look outside of the norm when considering a purchase. Real estate in Eastern Europe, including homes in Turkey, can mean much more than a permanent home. Among the many options available in east European real estate are Investment Properties, second homes, and vacation properties.
About Turkey
With a population of over 70 million people, Turkey is surrounded by water on three sides, including the Aegan Sea, Black Sea and Mediterranean Sea. Temperatures can widely range depending on the location, but can be generally categorized as being warm in the summers and mild in the winters.
Turkey is an eastern European country that borders eight other countries. Turkish is the official language, but English is widely recognized in most large Turkish cities.
Investment Properties
Purchasing homes in Turkey doesn't require you to live there. With low interest rates and even lower mortgage rates, homes in Turkey make great investment properties.
An investment property can mean leasing out a property to a local resident for a contracted period of time, renting out to tourists for a shorter amount of time or, for a more permanent solution, marketing the property to retirees looking to retire in style.
With a booming economy, homes in Turkey range can range in price from $36,000 for a fixer-upper to $600,000 plus for a new apartment in the heart of a tourist city. For those considering a landlord option, rent is steadily rising, which should allow for a complete return on investment.
Second Homes
For those interested in doing business in Turkey, setting up a base in another country, or just spending a significant amount of time in Turkey, a second home is the best option.
The low mortgage rates for homes in Turkey make purchasing a property an easy task. Perfect for retirees or those doing business in the technology sector, east European real estate is the prime target market for those looking for a second residence.
Vacation Properties
While investment properties and second homes aren't for everyone, vacation properties may be! Homes in Turkey don't always need to be practical - consider Turkey villas near the water or exotic apartments located in the heart of any bustling city if a true escape is what's desired.
Plan vacations around the weather - May is generally the wettest month while July and August are usually the driest.
Vacations can include sports, playing or watching, such as football (also known as soccer in the US,) as well as basketball and volleyball. Looking for something more exotic? Visit any of the castles, waterfalls, jungles or mountains that Turkey boasts as landmarks. And for those looking for relaxation, Turkey is home to more than a handful of great golf and spa destinations.
Time to Buy
Whether it's for an investment, a second home, or a vacation property for a getaway, homes in Turkey are an intelligent purchase. Research the area in which you want to live, the climate in which you would most likely desire, and the prices you can afford before beginning the property search. Once you have the basics down, finding a dream property will be a cinch. Happy hunting!
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