Bookmark and Share
Buying Off Plan
Buying an off plan apartment in Turkey
Tips and advice for buying an off plan holiday villa or apartment in Turkey

The buying process
Get information from neutral sources

Talk to people who have already bought an apartment or villa off plan in Turkey

Find a reputable company, view their completed apartments / villas. Have they completed a number of off plan developments in Turkey?
Buying an off plan villa or apartment Turkey
A common way of purchasing a new villa or apartment in Turkey is to choose the 'off plan' option. This essentially means buying a property that is not yet complete, this could even mean that the development has not yet even been started. To get an idea of what the property will look like when it's finished you may be shown drawings, floorplans and perhaps a model or computer simulation of the development. During a viewing trip you may be shown the site on which the apartment / villa is to be built and many developers will show you other completed developments to help give you an idea of how the property will look, the quality of the finish you can expect and so on.

Buying an off plan villa or apartment in Turkey

So why would you choose to buy off plan rather than a completed construction? Well the main advantage is that you have an opportunity to buy at a reduced price, indeed the earlier on in a development you buy the more you can save. Many developers offer staggered payments, each of which are payable at a particular stage of development.

Why are the properties available at a reduced price? Well one of the primary reasons is that developers use the money to finance the construction of the apartments or villas by selling some units in advance. Once they have achieved their targets in this respect the property prices are then increased and this pattern often continues until the completion of the development, at which point the prices of the remaining units will be at their highest. Increases in the prices of unsold units is not only down to the development stage however, if the property market is increasing then this will certainly result in higher asking prices.

Are there any other advantages of buying off plan? Yes. Some developers will allow customisation of properties depending on the stage of development, this varies between developers and obviously structural changes may be subject to planning etc. More minor changes, for example colour of the paint, the type of utilities / appliances could be negotiated. Another plus point is that You will have the early choice of property. By getting in earlier you are able to select the prime property on a development, late-comers obviously have to choose from the unsold units.

Are there any drawbacks to buying off plan? There can be. Obviously, the earlier on you buy in the development the more chance there is that the development will not be completed, for example if a company is building a complex of apartments and is relying on selling a certain number off plan in order to finance the completion of the project and they fail to raise the required amount of capital this could result in problems. Such situations can be avoided or at least measures can be taken to reduce the risk of this happening. We recommend buying with an established company that is more likely to have a solid financial base and whose reliance on selling units off plan is minimal. Property markets can go down as well as up! It could be the case that you purchase off plan and when you come to make your final payment the apartment / villa is worth less than the amount you paid for it.

These advantages and disadvantages are mostly common sense. We would recommend putting in some time doing research and where possible choosing a development company based on reputation. View existing apartments and villas built by the company, ask the owners if they are happy with their property and the service they have experienced.
Off Plan Property