Apartment vs plot of land in Turkey, which is better for investment?
Apartment vs plot of land in Turkey. Purchasing a property is an important financial decision. When it comes to investing in a property, most investors are confused if it is better to invest in an apartment vs plot of land in Turkey. Therefore, in this article from Ebla Real Estate, we will talk about the pros and cons of investing in apartment vs plot of land in Turkey.
Apartment vs plot of land in Turkey, which is better for investment?
Apartment vs plot of land in Turkey. Many investors wonder whether to buy a ready-to-move-in apartment or a piece of land that they can do bespoke construction on. Buying an apartment is not the same as purchasing a plot of land in Turkey. Although both the asset classes are highly lucrative in nature, each one has several pros and cons. Moreover, the decision depends on the investor needs, lifestyle preferences, and other aspects such as the cost of building, appreciation, financial assistance and income.
Pros of investing in a plot of land in Turkey
- Purchasing a plot of land gives one the freedom to mold, shape and build a structure according to one’s own preference and unique requirements.
- Lands are mostly used to build residential houses but there are other multiple uses of plots. Thus, buying a plot of land in Turkey provides you with many agricultural, residential and commercial investment options
- Moreover, buying a plot of land in Turkey provides buyers with an opportunity to move away from the city hassle towards more eco-friendly places and less pollution and lower population density.
- The plot of land does not depreciate in value, instead the value of plots increases over time. Furthermore, the maintenance cost associated with plots of land is very low.
Cons of investing in a plot of land in Turkey
- The cost of buying land and then building a house will end up being much higher than buying an apartment.
- Investors have to pay special attention to the type of land and find a suitable type of soil depending on the purpose of buying.
- Moreover, when you opt for a plot, you have to invest so much time in finding the right architect, design, contractors, etc. This is aside from having to go through numerous government offices seeking permission, permits and clearance certificates before you can even begin construction.
- Another important factor to consider is the safety aspects of living, by buying a plot of land, it will be a little expensive to install security cameras and hire 24/7 guards.
Pros of investing in an apartment in Turkey:
- Most apartments in Turkey come with basic amenities like power back-up, water, maintenance, and some added amenities like a clubhouse, swimming pool, etc.
- Buying an apartment in Turkey is one of the best investment strategies for those who want an additional source of monthly income with a slow but steady appreciation.
- A readymade house can start fetching rental income immediately after you invest in it.
- Moreover, the rental value of the property increases every year, and based on the location of the flat, the value of the property can increase multiple times.
- Furthermore, there is a great demand for apartments for sale in Turkey. Thus, investors will not face a problem when they want to lease or sell their apartments.
- In addition, apartments come with 24/7 security systems and there is greater safety in living together in numbers.
Cons of investing in an apartment in Turkey
- An apartment is a pre-designed construction, to suit a particular set of people’s needs. There is limited scope for customization as per each buyer’s needs.
- Mostly, there is no privacy in apartments in Turkey, as most of them are located in modern residential complexes.
- Apartments require high maintenance as compared to plot. Moreover, there is an annual renovation cost plus there is also a need for usual wear and tear repair.
Thus, just like any investment opportunity, there are different advantages and disadvantages of investing in apartment vs plot of land in Turkey. There is no one case that fits all, so everyone should invest according to their needs, requirements and budget.
Ebla Real Estate services in Turkey:
- Ebla Real Estate provides free real estate consultancy to all clients in Turkey.
- Moreover, we provide free real estate tours in Turkey.
- Furthermore, Ebla offers exceptional apartments and plots for sale with charming views in the best cities of Turkey.
- In addition, Ebla provides the appropriate properties in Turkey to obtain Turkish citizenship.
Thus, we talked about apartment vs plot of land in Turkey, and we showed which one is better for investment. It is worth noting that to buy an apartment or a plot of land in Turkey, you can contact Ebla Group to provide you with the best offers that suit your requirements.
Apartment vs plot of land in Turkey..
Edited by: Ebla Group Real Estate
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