Buy to Let in Turkey
Property News > Buy to Let in Turkey Guide
A PROPERTY FOR RENTAL?
Firstly, consider and assess your reasons for purchasing a property abroad, and what you want from that property.
Are you looking for financial gain?
Often, you will have to throw your own personal feelings and taste out of the window and concentrate on what will give you the best return. When viewing your purchase, the idyllic village house in its own garden may look very appealing but will need a lot of initial investment of time, energy and money before you can even imagine to rent it with its ongoing high maintenance bills and specialised renters.
OR , are you looking for a second home to be used by yourself, friends and family?.
If the property is for yourselves, either for use now or in the future, to fit in a plan for retirement, then your reasons for purchasing are very different.
To make the most of a property that has been purchased as a buy to rent property whilst at the same time offering a holiday home to yourselves, family and friends means, most importantly, means choosing the right location and type of property in which you would enjoy stays yourself but be aware of all contributing factors to rentals.
Buy to let has appeared due to the demand.
* The opening of a second terminal at the International Airport in Antalya
* Charter and scheduled year round flights to Antalya (see latest flight news)
* Flexible low cost one way or return flight availability. This was not an option 10 years ago when the majority of people travelled to Turkey on a package holiday. In 2004 only half of holidays taken were package holidays (Office of National Statistics) and this figure continues to fall.
* Championship golf courses now attract independent travellers
* Flights are now available for travellers to book themselves through the internet at a reasonable price, people will now rent a car for travel to their rental home or be able to arrange local transfers which a few years ago was out of the question. This has created a soaring rental market with owners renting their property to those independent travellers.
Before you buy you need to assess what you want from the property and that buy to let does suit you. You need to be flexible to make renting out work to your advantage. If you decide to buy to let in Turkey there IS money to be made. Property prices almost always rise over the long term and a home abroad can be sold at a profit or handed down in the family whilst being used as a holiday home giving pleasure to friends and family and pay for itself at the same time! A good decision.
When choosing a property, it is important to get the right balance between both reasons. Usually there is some compromise and a property purchased on the Mediterranean coast of Turkey will offer a holiday home for yourselves, friends and family during the Summer and Winter months whilst at the same time providing an immediate return in the form of rental return and capital appreciation in the long term.
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