What is the Biggest Issue for Foreign Investors?

The momentum achieved by the real estate sector in Turkey in the recent years is just as big an opportunity for the foreign nationals who wish to invest in Turkey, as it is for Turkey itself.

Onur Yılmaz
Onur Yılmaz

Even if sales to foreign nationals have slowed down for reasons outside the control of the sector in the last two years, interest from the citizens of the Gulf states in particular is continuing. Any reduction in this interest is prevented because of reasons such as the nature, atmosphere and culture of Turkey, the fact that it offers attractive opportunities for investment and its location advantages. The fact that the state is to provide the necessary incentives in the near future will also increase this interest by a significant level. However, the foreign nationals who purchase real estate from Turkey do also have important problems.

There is an emerging lack of trust

The biggest danger which has merged in this area in recent years is sellers who have no knowledge or experience. Of course, there are those who are knowledgeable and experienced among the intermediaries which ensure the communication between the real estate producers and foreign clients. However, what we are faced with mostly is sellers who direct customers to unreliable projects, just to make a lot of money. And after sales service and standing by what they sell is almost no existent.

The fear of potential investors

As realestatenewsturkey.com, we receive frequent complaints from foreign investors who have been through the experience of buying a property in Turkey. At the moment, the fear that is starting to be formed in the minds of investors from the Gulf in particular is,

If I buy a property in Turkey, either I will not be able to buy it at the right price, or it will be completed late, or not completed at all.

No doubt, both the state and the organizations have important responsibilities in order to prevent this. However, it is also necessary for foreign investors to become more aware.

Work with a trustworthy investment consultant

Foreign investors need to select the organizations they are going to work with, well. Therefore, you should pay attention to the below matters.

Stay away from the individuals and organizations who direct you to problematic projects, just to make money.

Make sure that you can trust the people you work with. The consultant should be protecting your interests first and foremost – not those of the company which is developing the real estate project. Work with a consultant who has good knowledge of all of the projects, and who is able to determine solutions according to your needs.

Listen to the experiences of the previous customers of the consultancy company

Work with organizations which will not leave you on your own after the sale, and which possess the infrastructure to be able to track your investment and your problems.

The organization you work with needs to have a command over matters such as the bureaucratic procedures and title procedures.

At the end of the day, you are investing in a foreign country. Make sure to work with a trustworthy company. However, the person you work with should be a consultant, not someone who just drives you around.

Uncover the companies and individuals who do not do all of these in the right way

Do not forget that everyone will give you approximately the same prices for the same project. However, not everyone will be able to direct you to the right investment. Therefore, it is very important to work with experienced investment companies which know the sector well, and do not see you just as someone to earn money from.

Read other posts written by Onur Yılmaz

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.