Posted on 29 June 2018
When it comes to investing in real estate, knowing industry insiders tips for buying a luxury home in Turkey can make a significant difference to your portfolio. Over the last twenty years, as the country has boosted their middle-class population, the definition of luxury overall, whether it be property, food, travel, or clothing has changed.
Going by price alone is no longer the sole indicator that what you are buying is a high market product. After all, “luxury” and “expensive” are two different words, and they don’t mean the same.
Likewise, adding more noughts to a home’s price and calling it luxury, no longer washes with home buyers. It is less about compromising and more about finding their crème de la crème.
Architects and construction firms had to step up to the mark, and while there isn’t an exact definition, some standard features exist throughout all luxurious homes. Our advice below will help you to find the house of your dreams and also make sure it is 100% authentically luxurious.
4 Tips for Buying a Luxury Home in Turkey
1: Research Neighbourhoods
Buying high-end property in a middle-class neighbourhood is going to have a disastrous result for the home’s long-term potential, whether it comes to making a profit or reselling. In Turkey, building your own home is a common concept, but some eager home design enthusiasts have chosen the wrong market to do it in. Across the world, real estate prices are tied into their surroundings and location, location, location is a top feature of any luxury home.
Yalikavak on the Bodrum peninsula has risen in recent years to become the “place to be seen,” and credit for this can be given to the ultramodern Palmarina, that boosted the town to luxurious stardom. Likewise, specific neighbourhoods of Istanbul are known as affluent areas because of their position, and price status of surrounding properties. Research the property market of any potential destination to gauge the average price per square meter.
2: Look for Privacy and Convenience
Look at any portfolio of luxury properties, and two key aspects stand out. The first is privacy, and the ability to eliminate outside distractions and noises. Whether this is done in the form of a gated community or a secluded location, it allows the homeowner to be at peace. Privacy doesn’t mean cutting yourself off from the outside world though because convenience is the second essential requirement for a lavish home.
These apartments in Sisli, Istanbul are a perfect example. Owners get privacy from the apartments positions at the top of the building, so while they are in the heart of Turkey’s biggest city, they still have space away from the hustle and bustle. 24-hour security also provides privacy while convenience shines through in the concierge service, as well as onsite facilities like a gym, bar and sauna.
Meanwhile, these apartments in Bodrum with private gardens are within a gated community and are close to the Palmarina, the heart of Yalikavak, that is used by yacht owners from all over the world because of its capacity to host mega yachts up to 135 metres. Boutique hotel facilities also provide everything you want on your own doorstep.
3: It’s About a Lifestyle
The age-old saying that a man’s home is his castle means your home should be a place of refuge, a haven to recharge your batteries, and relax. Your new home needs to reflect your lifestyle and beliefs and typically has a theme, whether you incorporate this at a later stage or look for it during the buying process.
These contemporary villas in Antalya also focus on eco-friendly living. The concept shines through in every aspect from the architecture to surrounding environments to onsite facilities. It isn’t just a marketing ploy either because they are one of the few projects in Turkey to receive the BREEAM certification, that is issued by an international organisation who globally asses, rate and certify sustainability of buildings.
These five-bedroom waterfront villas in Bodrum, designed by an award-winning and prominent Turkish architect focus on the concept of “spaces without borders” and are ideal for people who like to spend time outdoors.
While these villas incorporate several lifestyle features including golfing, outdoor activities such as archery and horse riding as well as natural living through organic fruit and vegetable gardens. Without a doubt, an essential aspect of buying luxury real estate is to have space and creative avenues to make a home reflect your beliefs.
4: Stop Using Search Engines
Use the internet for advice and tips for buying a luxury home in Turkey, but your estate agent’s role is more important than ever before. An agent specialising in high-end property will have experience in this sector and can prove it. They will keep your confidence and also have insiders contacts for properties that aren’t advertised on the mainstream market. Make your money work for you, by utilising an agent’s skills.
Julian Walker at Spot Blue is an experienced realtor with much more advice about investing in high-end real estate, and you can contact him here. Otherwise, you might also like to browse through our portfolio of luxury property for sale in Turkey.