One of the ways to save your capital in most countries of the world is to invest in real estate. Square meters are the resource that will always have a price and can generate a stable income in one of the quoted currencies.
Today, it is in Turkey that foreign citizens can buy liquid real estate at an affordable price, which will have a good return on investment with the right approach to choosing an object.
Every year the number of those wishing to become the owner of their home in Turkey is increasing, and in particular, cities such as Antalya, Alanya, Istanbul and others are leading in terms of the number of houses sold to foreigners.
Why the Turkish Republic? The advantage of buying apartments in this sunny country is considered to be a visa-free regime with many friendly countries, which means that not only the owner, but also his family, relatives, acquaintances will be able to come to the resort at any time of the year.
The second positive factor is the actively developing economy of the country, where the government is constantly introducing new measures to expand it and improve the living standards of the population. A favorable climate, good ecology, inexpensive food, textiles, utilities – all these are the advantages of living in Turkey.
Investors are attracted by the cost of Turkish real estate: prices are an order of magnitude lower than for similar properties in other European countries with access to the sea, and even in the CIS countries.
In addition, the generally accepted practice of recent years allows you to receive income from investing in real estate from the developer. Developers in every possible way attract buyers from abroad, offering favorable terms of cooperation, including investment at the zero stage of construction.
Thus, buying a home during the construction phase makes it possible to save up to 30% of the cost, compared to purchasing a finished object.
By renting out an apartment, the owner can receive a stable income and at the same time also come on vacation several times a year to his own home. In order for a rental business to be as profitable as possible, several factors must be taken into account, which we will talk about in our article.
Apartment rental income in Turkey – benefits
Regardless of changes in the foreign exchange market, exchange rate fluctuations, the price of renting real estate abroad continues to grow. What are the benefits of a tenant by renting out a home?
Where to buy an apartment in Turkey to generate income?
Each of the regions of the Republic of Turkey has a number of advantages for a particular type of business. As for investments in the real estate market, here it is worth paying attention to those cities where the largest flow of tourists is noted throughout the year.
Of course, such cities are resort towns located along the entire coast of the Mediterranean and Aegean Seas. First of all, the buyer will be interested and profitable in the real estate market in the resort of Antalya, as well as in Alanya and its regions – Avsallar, Mahmutlar, Oba, Cikcilli, Tosmur and others. There is a systematic growth in the popularity of the sale and rental of real estate among foreign citizens from Europe and the CIS countries, as well as the constant development and construction of new infrastructure, the discovery of cultural, historical and natural attractions, which guarantees a good income for the landlord.
Renting an apartment in Turkey – how to make money?
Where to buy an apartment abroad to receive rental income? This is the question that many foreigners ask themselves when looking for a suitable option for themselves.
As we have already found out, the Republic of Turkey is one of the most favorable resort countries for this kind of real estate investment. However, there are several nuances with regards to the rental of Turkish housing that every owner and buyer should know about.
There are three types of property rentals in Alanya and Turkey: short-term, long-term, guaranteed.
Short term rental housing in Alanya
In 2017, the Turkish government made significant changes to the legislative rules before renting real estate. Thus, individuals no longer have the right to rent apartments in Turkey. Only legal entities with a license for this type of activity can use the right of short-term lease, while fulfilling a number of conditions:
The owner must manage the building or part of it. The total number of sleeping places (beds) must be at least 30. That is, a legal entity, in fact, must own the hotel.
The hotel provides round-the-clock security and video surveillance, as well as a fire escape without fail and other similar conditions.
The legal entity undertakes to register with the police and register tenants in a special registration system. Every day, data about each of the guests, including children, is sent to the police station.
If these conditions are not met, the government provides for rather large fines (for the first offense), as well as deportation in case of non-payment and even, in case of malicious non-compliance with the requirements, criminal liability.
In fact, such short-term lease obligations are absolutely unacceptable for the average owner of one or two apartments in Turkey.
The reason for this strict innovation on the part of the Turkish authorities, which are very loyal to foreign buyers of real estate and constantly simplify the process of acquiring and registering property, is the desire to maintain order and security in the state, in particular in all areas related to the possibility of the spread of terrorism.
However, foreign nationals looking to generate income from real estate in Turkey can take advantage of two other ways.
Long term rental
If you are the owner of one or more residential properties in Turkey, be it an apartment or a villa, you can conclude a long-term lease agreement, the period of which cannot be less than six months. To legalize this process, you will need to notarize the contract, as well as register the tenant with the Civil Status Office (or Nüfus Müdürlüğü) of the Ministry of the Interior. This registration option does not require payment and takes literally 10-20 minutes. If the resident is not a resident of Turkey, you will need to provide his TIN of a foreign citizen, which is issued only to those who have been living in the Republic of Turkey for more than six months with a residence permit.
The calculation of the return on investment in real estate in Turkey from renting in this option will depend on how correctly you have chosen its location, infrastructure, equipment, quality of interior decoration, furniture, equipment, species characteristics. The profit can be about 5-12% per year.
The disadvantage of such a legal way to make money from renting apartments in Alanya Turkey can be considered the limitation of opportunities for your own vacation in your apartment, since it is quite difficult to find a tenant with the required lease terms.
Guaranteed rental of real estate in Alanya is one of the most profitable options for resolving the issue of making a profit from your property abroad. In fact, this is the initial purchase of an apartment as an investment, when the new owner leases it out with the help of a management company.
Often, such management companies are real estate agencies, construction companies that take care of all the maintenance of housing, paying for utilities, preparing for the arrival of guests, finding tenants and other necessary nuances.
Therefore, the professional staff of the agency FIRST ALANYA will help to make the best choice of an object with such characteristics that would have a high return on the apartment when renting out in the future.
All that is required from a new owner wishing to use the guaranteed rental service is to sign an agreement with the agency FIRST ALANYA, which will indicate a fixed amount of income that he will receive every year.
An additional and important bonus of such cooperation is the opportunity to relax in your own apartment for free, which will need to be discussed with the company in advance.
As a result, a guaranteed rental has several main advantages:
permanent income, the amount of which is strictly fixed in the signed agreement;
no need to look for tenants on your own and take part in the arrangement of the apartment, eliminate shortcomings and other current problems;
the opportunity to relax in Turkey in your own home.