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real estate
property management company
turkish riviera
economic slowdown
investing in property
personal finance
construction companies
living expenses
Why I’m Investing In Turkish Real Estate
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Why I’m Investing In Turkish Real Estate

For most of my life I’ve been a professional violinist travelling the world. All of my energy and focus has been on giving the best performances. So, I never gave much time or thought to personal finance. My attitude always was that if I could afford the rent and living expenses that was ok. But over the last five years, the economic slowdown and rising costs of living have forced me to reconsider my position. I set aside time to look at my savings and investment options.

Because I travel so much, I think I’m pretty open minded. Actually, it was on a flight to Turkey, whilst reading an in-flight magazine that I learned about the burgeoning property market in Istanbul. The demand for property to rent is high with so many young professionals looking for modern living in this city. It is this high demand, coupled with low building costs and a strong economy which are fuelling foreign investment to the area.

When I started researching Turkish homes, it became clear that buying property would be lucrative so long as I bought off-plan, at development stage. So I began my research looking for reputable construction companies with secure funding and innovative designs. I also found a real estate agent called Turkish Riviera Homes, offering a great deal of expertise in Turkey investments. They introduced me to several projects in Beylikduzu and I decided to get involved.

The key to investing in property is not to get emotionally involved. Like any other investment, results come from buying at a low price and selling with a good rate of return. My estate agent, Zekiye Dincer, urged me to buy two small rooms rather than a family unit for example. Financially, it’s better to draw two sets of rent than one.

Last month, the first of my apartment rooms completed and already I have a tenant. I found a local agent to manage the apartment because it was less expensive than the property management company based on site. Many developers offer buyers an after-sales package which includes furniture packs and building maintenance. I found these packages grossly over-priced and would urge others to think carefully about taking them. My estate agent sent me a furniture catalogue from Ikea in Istanbul, it’s the perfect solution for modern day living at a realistic price.

Flights to Istanbul are reasonably priced and if I travel from Europe I can be there in about three hours. It’s an amazing location and feels a lot more exotic than my home in San Diego. I’m lucky to have a lifestyle that involves travel and I’m really glad that I discovered Turkey! Now that I have some property overseas I feel my financial situation is really going to improve.

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