Real Estate Investment in Turkey; Residential Complexes or Independent Buildings

Real estate investment in Turkey is a preferred choice for many investors, since Turkey is a main source of attraction for all segments of investment. As a result, it attracts millions of foreign investors, in light of the Turkish real estate sector growth, currently competing with other countries in the world.

Types of Real Estate Investments in Turkey

Investing in Turkey involves different destinations for investors. However, the sources of long-term investment should be clearly identified.

The types of real estate investment can be divided into two categories: Commercial and residential. Whereas the residential, namely the subject of our article – is divided into two types:

• Firstly: buying apartments within residential complexes.
• Secondly: buying apartments in independent buildings outside the complexes.

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Real Estate Investment in Residential Complexes

Residential complexes in Turkey are considered a new type of modern housing patterns. They include homogeneous social environment, standard services, in addition to security and safety services.

A residential complex can be defined as: a building or a group of residential buildings, walled, serviced by a group of common facilities in exchange for a monthly service fee called revenues. These revenues vary according to the complex, such as sanitation, swimming pools, and restaurants, sports clubs, etc. A housing complex usually has an administrative body elected by the residents.

Advantages of Real Estate Investment in Residential Complexes

There are many advantages for real estate investment in residential complexes in Turkey. Therefore, it attracts many foreign investors. These advantages are:

1- A high sense of security 24/7, thanks to the constant presence of private security guarding each building within the complex.

2- Complexes are usually constructed in quiet residential areas far from the noise and the city’s congestion. Furthermore, commuting is available through various means of reasonable fees transportation.

3- It is suitable for investors who wish to invest their money in various real estate segments, being adjacent to commercial complexes. In other words, it combines investment as well as population hub simultaneously.

4- Renting apartments also serves the purpose of commercial investment, especially with the steady rise of rentals from year to year, and on a monthly basis as per the Turkish law.

5- The demand for residences within complex has increased, as it attracts tourists who want well-served apartments. Taking into consideration the continuous rise of rental prices, and the possibility of paying in different currencies.

6- Ease of resale with good profits, compared to other real estate investment in Turkey.

Features of Residential Complexes in Turkey

Residential complexes are eminent from other independent housing and other external buildings with many features, as follows:

• Having facilities with bulky spaces, as part of the residential complex, to meet the needs of the residents and their children. Oftentimes, these facilities depend on the complex’s level of luxury.
• The residential complexes’ facilities offer various services for adults as well as children. For example, swimming pools, sports clubs, playgrounds, running tracks, restaurants and cafes.
• The residential complex also conveys positive social environment to its residents and their children. In other words, it strengthens the bonds of friendly relations, thus paving the way for a brighter future for families.
• Private parking facilities with large spaces sufficient for all complex’s residents. They are built with a high level of safety, and are available for residents and their visitors.
• Round-the-clock services by the complex management staff, who are ready for any complaints. Moreover, they provide additional services such as maintenance, cleaning, and others.
• Apartments inside residential complexes have heat-insulating walls that provide heating in winter, and reduce heat in summer. In addition to having multiple floor heights within the complex.

Disadvantages of Residential Complexes in Turkey

In addition to the positive features of residential complexes, there are some drawbacks which effect people depending on their own desires and needs.

Firstly, some residential complexes are far from the city center.  That is to say, far from official departments that one might need to visit in order to complete some formal transactions.

Secondly, apartments in complexes are relatively expensive in terms of monthly revenues paid for the distinctive services provided to the residents. For example, sports clubs, swimming pools, cleaning, and maintenance. In fact, the value of revenues in high-end complexes can reach up to 50$.

How to choose between types of real estate investment?

Referring to above types of real estate investments in Turkey, it is possible to choose between them depending on the investors/ residents’ needs and requirements.

On one hand, choosing to live in independent apartments is limited to newlyweds or single individuals to some extent. That is to say, in terms of proximity to the workplace or services, as well as rental and service fees (revenues) conveniency, if compared to the luxury complexes.

On the other hand, in relation to families, living in residential complexes is certainly more suitable. This is due to the earlier mentioned features, in addition to the sense of safety and available facilities which provide comfortable social life.

Finally, you can choose between the different types of real estate investment according to your needs, based on the information provided to you in this detailed article.

You can as well inquire about other types of real estate investments in Turkey, on the short and long term, by contacting our real estate consultants. Definitely, we will be more than happy to serve you in all regions of Istanbul.

Edited by: Properties Gate^© – Real estate portal in Turkey.