By Justin Mays:
Commercial property in Turkey can be anything from a building to a shop. What makes a property a commercial one is the revenue its owners earn from it. Unlike residential properties, commercial properties bring income for the investor, which makes them widely preferred by property buyers.
Read this blog to find out all the crucial tips for buying commercial real estate in Turkey:
Commercial Real Estate Investment Tips
1. Arrange Your Finances
Straighten your finances and create a budget to help you pay for the property. This can help create the base for your property hunt.
2. Research Thoroughly & Create a Business Plan
Researching commercial properties is an essential step to buying commercial property in Turkey. Choose whether you want to rent or use the property for your business.
If you want to use it for your business, decide what kind of business you want to set up, research your competitors, and set your goals accordingly.
Furthermore, to make the best commercial real estate investment, you should educate yourself on the best cities in Turkey to have commercial property. Look up prices, and make property comparisons.
We can help make his step easy for you since we have decades of experience in the Turkish real estate sector and possess a wide range of commercial property types for investors.
3. Choose A Real Estate Consulting Company
A real estate consulting company can help you in your property search, simplify your buying process, educate you on local property regulations and more.
We at Prime Property Turkey have an impeccable team of real estate experts to help you get your desired commercial property at the best price.
4. Run Detailed Property Checks
Once you decide on a commercial property, it is essential to check the title deed and ensure that all vital details about the property are present in this document. Please read our blog on getting a title deed in Turkey to understand this document and why it is crucial.
Also, ensure that you have all the special authorizations (if needed) to run your business on the property smoothly. It will also prevent any legal issues from taking place.
Furthermore, you should examine the property well to ensure that it is suitable for the nature of the business you want to set up.
The property's layout should fit your business perfectly and have all the ideal amenities for a comfortable workspace.
Prime Property Turkey’s real estate consultants can help you acquire all the necessary permits and documents to buy a commercial property.
Further Reading: Why You Should Consider a Consultant When Moving to Turkey
5. Explore the Property’s Location
For your commercial property investment in Turkey, the property must be in a prime location that will work for your particular business type. You should tour the property’s location before purchasing to ensure it is on the main street for hassle-free accessibility.
Turkish commercial real estate for sale in central locations is pricey but has the massive potential to earn high returns, making them worth the investment.
A property in a strategic location can also earn great rental income for the foreign investor.
Ideally, the property should also have vital facilities such as security and parking spaces. Additionally, the property should be close to transport facilities such as the Istanbul metro station, and bus stops to facilitate employees in reaching their work without problems.
Besides this, the property should also be within the business center for maximum exposure.
Frequently Asked Questions (FAQs)
Is it a good idea to invest in commercial real estate in Turkey?
Investing in commercial real estate in Turkey is an excellent choice for investors since the property options are diverse and because of the investment-friendly regulations. You can read our blog “Investing in Commercial Real Estate in Turkey - Is It Worth It?” where we extensively explain the advantages of buying commercial real estate.
What is the main difference between a commercial and a residential property?
Residential property is used for residential or accommodation purposes, including villas, houses, flats, etc. Commercial property includes shops, offices, boutiques, hotels, industrial buildings, etc.
Can I buy a commercial property in Turkey and get Turkish citizenship?
Yes, you can buy any property in Turkey, whether commercial or residential, and apply for Turkish citizenship.
Wrapping It Up
A lot of hard work and money goes into finding the right commercial property. So, having the right real estate consulting agency by your side can drastically minimize any risks. You can contact us for more information on Turkish commercial real estate for sale. We can help create a robust commercial real estate investment strategy.
We hope you found our tips for investors in commercial property in Turkey beneficial. Leave us your thought in the comment section.
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