Sounds like you used a 3rd party to buy your apartments?My apartments value grew approx 12% per year for the last 4, calculated with euro.
I think türkiye might get into a better and stable economy¤cy in the next decade, if you want something stable now, that's too uncertain.
What I mean by stable is 2024 Jan to Jan 2025, rather than 2020-2023No, I lived there few months and my friend helped me out.
Now, the currency is somewhat not stable, that prevents full potential of economic growth.. but I'm not a professional.
In that time, I'd guess it's rather pretty stable, also housing prices did grow a lot, despite market getting flooded with new buildings..What I mean by stable is 2024 Jan to Jan 2025, rather than 2020-2023
HSBC may be worth looking into as well.Last tip is, Ziraat is the only bank that'll take foreigners without residency, and apparently they will never ask for SoF.
Where do you get your info from? That's not the case afaikmarket getting flooded with new buildings..
For mortgage?Last tip is, Ziraat is the only bank that'll take foreigners without residency, and apparently they will never ask for SoF.
I'm there a lot, and I have friends and also business partners there. It is correct in several provinces I'm traveling, Izmir and Trabzon in particular, in some provinces it is caused by new regulations that were put in place after the 2020 earthquake, many many buildings were destroyed or are being destroyed and rebuilt, and there is a good chance those construction companies go broke as contracts were settled in TL (only allowed currency) and due to currency inflation they have a hard time building due to material/labor costs.Where do you get your info from? That's not the case afaik
For mortgage?
(I'm talking about country average)I'm there a lot, and I have friends and also business partners there. It is correct in several provinces I'm traveling, Izmir and Trabzon in particular, in some provinces it is caused by new regulations that were put in place after the 2020 earthquake, many many buildings were destroyed or are being destroyed and rebuilt, and there is a good chance those construction companies go broke as contracts were settled in TL (only allowed currency) and due to currency inflation they have a hard time building due to material/labor costs.
From my knowledge it is impossible as foreigner to get a mortgage (TL) especially as non-permanent resident nor local worker.
As stated, I was talking about mentioned regions, not country average.Market did not flood with new buildings: https://tradingeconomics.com/turkey/building-permits
Your friends are not your friends because you overpaid by maybe 50% when buying. Source: First chart in this page.
Houses in TR never made money in the long term. Only land did. That's my tip.
That's my observation. Feel free to criticize it
I mentioned 50% based on the chart I posted and based on your yearly return while assuming your house is the average house in TR in terms of its returns. I was just sharing info. If you know what you're doing, then that's greatAs stated, I was talking about mentioned regions, not country average.
My friends are my friends, they have nothing to do with how much I invested, and of course your observation is wrong, I know how much my property increased in value since I own it. It's rather wild to claim I overpaid 50%, not knowing any details. But I agree that land is a good long-term investment there.
Btw do you know a good investment community related to TR? The ones I found are pretty shittyAs stated, I was talking about mentioned regions, not country average.
My friends are my friends, they have nothing to do with how much I invested, and of course your observation is wrong, I know how much my property increased in value since I own it. It's rather wild to claim I overpaid 50%, not knowing any details. But I agree that land is a good long-term investment there.