Real Estates in Turkey
In this article from Ebla Real Estate, we will talk about real estates in Turkey.
What is the real estate?
Real estate is the land with any additions attached to it.. Whether they were natural or man-made including water, trees, minerals, buildings, homes, bridges. It is a form of real estate property.
Moreover, you should not confuse between real estate property and personal property, which includes all properties that do not fit with real estate properties and carry the characteristic (immovable) while the basic characteristic of personal properties is that it is (movable) and the personal properties include vehicles, boats, furniture, clothes, and others.
People often use the terms: land, real estate, and real estate property. However, there are some differences between them, we mention some of them:
Land:
The land is the basis for all types of real estate properties. Furthermore, the land usually refers to undeveloped properties and vacant lands, or to lands that are used for agriculture. Additionally, the ownership of land is considered with what there are above it or below it.. Including trees, minerals, water and everything above the ground.
Real estates:
They are the lands with the man-made additions, such as houses and other buildings.
Real estate property:
It is one of the two main classifications of real estate property.. (The interests and benefits that return on real estate ownership – The rights of the ownership of real estate and its contents).
In general, real estate includes the physical surface of the land, what lies above and below it, and what is associated with it in addition to all property rights, including the right to own, sell, rent and enjoy the land.
Physical characteristics of real estates in Turkey:
The land has physical characteristics that distinguish it from the other assets in the economy.
We will mention three characteristics of them:
- Inertia: While some parts of the land are removable and the terrain can be completely changed, the geographical location of any piece of land cannot be changed at all.
- Indestructible: the earth is existing from time immemorial and it is indestructible in any way (permanent).
- Singularity: No two pieces of land can be completely identical.
Although they may be similar or share many aspects, but each one of them is different from the other geographically.
The economic characteristics of the real estate:
The land also has some distinctive economic characteristics that affect its value as a real estate investment. We mention four of these characteristics:
1- Scarcity:
The land is not rare and there are large areas of it. However, geographically, it is rare because if you get a piece of land in a place, no one else will be able to obtain it.
2- Improvements:
Any additions or changes to the land or property that affect the value of the property are improvements. Furthermore, improvements of a special nature (Such as, homes and residential units) are improvements to the land. Additionally, there are improvements of general nature (For example, paved roads and sewage systems) all of these are improvements.
3- Permanent investment:
When the land is improved, the total capital and workers engaged in construction on the land represents a large fixed investment. Although the building can be demolished, but improvements such as sewage, electricity and water systems are permanent and cannot be removed.
4- Choosing the location of the land:
The location is chosen based on the person’s desire and his capabilities in relation to a specific area. And the location is one of the most important economic characteristics of the land, which greatly benefits the investor.
(“location, location, location”) is the most important.
Types of real estates:
- Residential real estate: It is any real estate used for residential purposes such as independent houses and various residential units.
- Commercial real estate: It is any real estate used for commercial purposes. Such as, offices, hotels, commercial stores, car parks, restaurants, shopping malls and others.
- Industrial real estate: It is any real estate used in industrial fields. Such as, factories, power stations, research and development centers, storage and others.
- Land: It includes undeveloped properties, vacant lands suitable for real estate development, and agricultural lands such as farms and orchards, etc.
- Real estates that belong to the state: It is the property managed by public institutions in the countries and used by the public. Such as, cemeteries, government buildings, libraries, gardens, places of worship, schools and others.
How the real estate business works:
In spite of the size and complexity of the real estate market, many people tend to think that the real estate sector consists only of real estate brokers and salespeople.
Many professional officers and companies including engineers, banks, property insurance companies, surveyors, lawyers, and others rely on the real estate sector.
Real estate is an important engine of economic growth in Turkey, based on the statistics issued by the Turkish Statistical Center on the number of sold housing units that were built annually.
Such as, independent houses (villas) or residential complexes that contain several housing units.
Investors and economic analysts in Turkey are closely monitoring the operations of housing construction.. Because the numbers can provide important information about the direction of the economy in Turkey.
For example, if the construction companies are heading towards building residential complexes,
it indicates a shortage of apartments in the real estate market which will lead to an increase in the prices of apartments and thus a rise in the economic indicator in the country.
How to invest in the real estate sector in Turkey:
There are several ways to invest in the Turkish real estate sector, including:
Private real estate ownership: the purpose of which is housing.. And it can be an independent home or a private apartment
Investment real estate ownership: The aim of it is for profitable investment in leasing, whether touristic or annual, in order to recover part of its paid value, maintain it and increase its value during the investment process.
Commercial real estate ownership: the aim of which is trade, not housing, which is to buy the property, redevelop it and sell it. If you want to invest in the investment or the commercial real estate ownership.. You can make money by two different ways:
Rental income: It provides a constant annual income, taking into account the annual inflation rate on rent, which will raise the annual rent value in addition to the increase in the value of the property on an annual basis. The rate of increase in real estate prices varies according to supply and demand and the economic situation of the country.
Sales revenue: Unlike other investments, the investor buys old housing units and works on restructuring and redeveloping them in the form that is appropriate to the area of the property and then sells them. The real estate development process can be entrusted to one of the real estate development companies to carry out the real estate development process, and then sell it.
Ebla Services:
We at Ebla Group Real Estate, and through our presence in the Turkish real estate sector can help you to own real estate in Turkey, choose the right location for real estate investment, manage the investments and redevelop the property in proportion to your requirements professionally and safely within the terms and conditions set in the real estate ownership law in Turkey.
That is through a group of engineers and consultants accredited to Turkish government institutions.
Edited by: Ebla Group Real Estate
For more information about properties and real estate ownership in Turkey.. You can contact us on the following numbers:
00905343240017
00905525121125
00902242231213
