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Showing posts with label Find Buyer for Property in Turkey. Show all posts
Showing posts with label Find Buyer for Property in Turkey. Show all posts

Saturday, August 17, 2019

Finding a Buyer: Reality vs Illusion...


  
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….