Now Is the Time to Buy Land
As the world’s currencies rise and fall like dominoes. The question on everyone’s lips should be...Is now the time to buy land?
In recent months we have seen the Dollar, the Euro and Sterling’s exchange rates rise and fall almost within an hour! But if you leave your money in these currencies, you could turn your attention towards investing in land. Economists say that by looking at past experiences the sudden up rise and then subsequent fall in these currencies means that often when the currency settles, they stay at a much lower rate than they are at, for example, today’s rate. So yes, now is the time to invest in land.
Should you invest in land?
It is not possible to build on agricultural land in Turkey. So, whilst you can invest in farm land to farm fruits, vegetables, crops and animals, permission is never granted to build houses or apartments. In certain cases, there is a farmhouse or barn like building which you can then renovate or demolish. Soil on farm land will make a premium every year. But you should investigate if a road can be built near to your land or is there a way to your fields? Will your neighbours give you right of way? If you wish to pursue this avenue then you must have a team of Turkish workers and we advise you get an expert on board who is knowledgeable on agricultural land rights and laws.
Istanbul is a hot place to buy zoned land at the moment especially on the Anatolian side of Istanbul in a place called Sile. It is a fashionable and popular area of Istanbul. The transport links to and from Sile are well established and nowadays it’s a short journey using the municipal bus or of course taxi or hire car. Today in Sile the price of zoning land is over 2000 tl in the villages. Be careful however, as if someone sells you land in Sile for 300-500 tl be aware that this is not zoned land!
In some instances, someone who bought a detached title for 200,000 Euros a month ago, can now buy that same piece of land for 150,000 Euros. That is, 50,000 Euros profit already.
This is of course just an example of the current situation and by looking through each Municipality’s website, you can find land for sale in all parts of Turkey. You should also consult with a reputable company to assist you in all areas of your purchase. Summerhomes has a long standing reputation with land buying and real estate.