Commercial properties in Turkey are considered a distinctive gateway to the vitality of the Turkish economy, which has recently witnessed comprehensive reforms summarized in the following aspects:
- Implementing important reforms in several vital sectors such as the financial market, agriculture sector, social protection sector, energy sector, and transportation sector. These reforms have strengthened the infrastructure of economic institutions.
- Taking measures to strengthen the Turkish economy and make it resilient to the economic fluctuations in global markets, through the establishment of semi-independent institutions in the sector.
- Removing many bureaucratic obstacles and reducing some of them to a minimum.
- Regulating the financial markets in a manner that aligns with the concept of the modern age.
- Accelerating privatization processes and organizing public finance.
Criteria for purchasing commercial real estate in Turkey:
- Choosing the location of the commercial property:
The commercial property should be in a central market area crowded with pedestrians. As the saying goes, “Opportunity knocks when feet are crowded.” It is also important to consider the success of similar projects in that location, and the site should be close to major city roads.
- Public transportation network:
If your project relies on transportation, you should choose a location that facilitates movement and is served by public transportation, metro lines, and major public roads.
- Public facilities and services:
Certain important facilities should be available when choosing commercial properties, including:
– The vicinity of the commercial property should have indoor or outdoor parking facilities and car parking services if possible.
– Proximity to ATMs is preferred.
– Especially if the property is within a shopping mall, it should have modern technological infrastructure that keeps up with advancements.
– Modern elevators should be available in commercial complexes and should be regularly maintained.
– Central heating services are also of great importance, especially if the commercial property is large and customers need to spend time shopping, such as in hypermarkets.
– 24-hour security surveillance using modern techniques such as surveillance cameras should be provided.
- Value of commercial properties:
It is a mistake to rely solely on financial factors when deciding to rent or purchase a commercial property. Of course, you should keep your general expenses low. Establishing your project in a cheap and poor location is a major cause of failure.
- Ensure legal documentation:
The licenses for the commercial property should be valid, legal, and documented by an official authorized authority.
- Seek assistance from a reliable advisor and expert in the Turkish real estate market:
Choosing to collaborate with an expert in the real estate market will save the investor a lot of effort and time. Seeking their assistance will act as a solid fortress against slipping into matters that may harm the investor and incur financial losses. Moreover, the expert will ensure a satisfactory purchasing process at the same time.
when considering the purchase of commercial real estate in Turkey, it is crucial to carefully evaluate various factors. The location should be strategically chosen, taking into account the presence of a bustling market, accessibility to transportation networks, and availability of essential facilities and services. Additionally, considering the value of the property beyond financial aspects and ensuring proper legal documentation are vital steps. Seeking guidance from a reliable advisor and expert in the Turkish real estate market can greatly contribute to a successful and satisfactory purchasing process. By following these considerations, investors can make informed decisions and pave the way for a prosperous commercial venture in Turkey.