Finding a buyer for Turkish property has been challenging for foreign owners in the last few years. This is partly because the number of foreigners buying real estate in Turkey has
dwindled significantly. And the English speaking sector of the Turkish real estate market is comprised primarily of foreign buyers relying on English.
Recent changes to Citizenship Investment
criteria to $250,000, has resulted in an increase of foreign buying from
new and different parts of the world, but these buyers can not purchase property owned
by a foreigner. Foreign owned property does not qualify for citizenship
investment purposes.
So if there are few buyers of foreign owned Turkish property in
the English speaking foreign sector of the real estate market in Turkey, how can
a seller get into the ‘real’ Turkish language speaking sector to find
Turkish speaking buyers?
The solutions fortunately are several, and not limited to going to your local English
speaking neighbour-hood agent or online agent. In the ‘real’ Turkish speaking property market in
Turkey
no one uses agents anymore, and hasn’t for 5-10 years. This is because there
are smarter, faster, and better solutions.
For example there are on-line portals
- no not agents websites- these are on-line exchanges in the Turkish
language, where buyers and sellers login to communicate with one another in private: no agents. Sellers list their properties, and
buyers can find what they want with the very good search engines the on-line
exchanges have. There are several on-line exchanges, and several on-line ‘e-Bay
type’ variations, and more. Together they comprise more than 95% of all real
estate listings in Turkey.
That’s where the market is, and that’s the
reality. Dealing with English speaking foreign agent’s is just an illusion….
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