Resale property in Turkey is a vast and wonderful topic. The Turkish property market is still massively under-regulated, so pricing is far from standardised, although having said that the UK isn't much different; with gazumping and agents setting prices based as much on what the market will bear as any true valuation metric.
However, when it comes to looking at resale properties in Turkey you will quickly realise that the valuation differences translate into massive differences in seller expectations. While new build and off plan prices are pretty standardised, i.e. you can pretty much guess price based on bedrooms, locations and things like whether the pool is private or communal, when it comes to resale property you have no chance.
We have all sold stuff, and we all want to get back as much of the price we paid as possible. However, in no field is this less possible than in property, and you can see when looking at resale property in Turkey compared to new build properties, which sellers are in for a lot of adjustment in their expectations. On the other hand you will also find some true bargains as well.
For a start you have those sellers who have started out as above, with expectations far beyond the true resale value of their property, but who have realised this and dropped their price down accordingly. And then you have those who bought at the beginning of Turkey's popularity, and who can come in below everybody else and still make a huge profit.
A popular avenue of resale property is to buy old properties in need of refurbishment, complete the work and then resell for a profit. While there aren't a lot of these properties on the foreign market, when they do come up they do tend to be diamond bargains. Call us today to find out about a specific type of opportunity, or to discuss any other aspect of purchasing property in Turkey - 020 8339 6036.
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