Off-plan property buying in Turkey has become common in recent years but if you haven't encountered it before, the following paragraphs will explain the process.

1. What is off-plan construction?
Buying 'off-plan' is when you buy a property that hasn't been built yet. You won't actually be able to see the exact home you are buying but will be able to see floor plans and graphic elevations to give you an understanding of what you will be getting. If you buy early enough, you will also have a choice of plot within the development.

2. So why would you buy a house that hasn't been built yet?
• In essence, you are sharing the financial burden of the build with the builder: As a result, this is reflected in a much lower asking price than if you were to buy the finished home.
• As building work takes place over a period of time, in rising property markets it is common for properties to increase in value before work is even completed. Importantly, despite not having fully paid for your property until completion, any increases in property value will be entirely yours.
• When demand is high, buying off plan may be the only way to buy your ideal property in a popular area.
• As the building is not completed at the time of purchase the future owner is able to specify any extras that they would like incorporated at the time of construction. 

3. Is my villa / apartment likely to appreciate in value?
Average house price increases in Turkey over the past three years have been 40% and are expected to continue at this pace. As any increases in the value of the property during the construction period are transferred to the purchaser (you), this means that the value of your property will have increased dramatically from the time you make your first payment to completion.


For property investors, buying property off-plan offers distinct advantages. The biggest being the opportunity to purchase property at a lower than market value price as well as being able to capture the best units in each development, as these are often released first . By buying early in a development, once the build is completed your investment is likely to have gained months or years of capital growth depending on the stage of development when purchased, with the added bonus of not having to fully purchase the unit until completion. 

If you are new to this marketplace the question you will be asking is why do developers sell off-plan property at discount? The answer is simple, developers are keen to sell as many properties as early as possible to minimise the risk to themselves and to obtain better interest rates on their development loans from banks and investors. 

As investors you will be able to track the growth in your property with prices typically increasing as the development progresses - making the gained equity value apparent. Then, once you have exchanged contracts, usually already with a discount negotiated by us, the developers are able to lock in the capital growth for the entire build time. 

Once the property is built, you the investor still retain the option to complete the purchase, and benefit from a rental income, or sell and realise the capital growth that has been achieved throughout the build. 

Either way, this often provides a very good way for investors to start their portfolio, as they do not have to worry about tenants, refurbishments, rental collection or mortgage and insurance payments. 

Due to the buoyant nature recently in the property market, even with its supposed levelling out, off- plan purchasers have still been making a shrewd investment because of the initial saving and the steady price increase over the build duration. 

For example, you purchase an off-plan property, with an anticipated build time of 24 months for an “open market” price of £100,000. We will have negotiated a 15% (£15,000) discount off this price; therefore you would only pay £85,000 for the property. If property's price increases by an average of 13% per year over the 24 month build time, the market price, upon completion, would be in excess of £126,000 and with built-in equity of over £41,000. 

You can remortgage now to release some of that equity and buy another property, or you can sell the property on at a profit – as always the choice is yours and will depend on your personal plans. 

There has never been a better time to invest in property in Turkey. By buying off-plan you can easily make instant profits.