Last year, the total number of real estate sales in Turkey reached 2 million 949 thousand, and this figure consisted of 1 million 723 thousand land, fields, workplaces and other real estates. When it is considered that at least 90 percent of non-residential real estate sales consist of land and fields, an all-time annual record has been broken in this area. The share of non-residential real estate in total sales also increased to the highest rate with 58.44 percent. Experts, who stated that although the high sales numbers have partially decreased this year, strong demand for land and fields continue, made warnings.
“Along with the demand for land and fields, fraud cases have also increased”
İsmail Özcan, Chairman of the Association of Real Estate Marketing and Sales Professionals (GAPAS), stated that the difficulty in accessing housing in the last few years has increased the investments in plots and lands that can be made with more reasonable budgets, and that this area, where high amounts are discussed, does not escape the attention of those with bad intentions.
“Lands that can be purchased with relatively more reasonable budgets and plots that tend to increase in value rapidly have become the favorites of investors.”said.
Özcan continued his words as follows:
“We are hearing that some investors make purchases without seeing the land to be purchased, without conducting inspections on site or at official institutions, only with the perception and anticipation that the price is attractive, and experience financial losses, such that a place does not actually exist, or that the deposits given to those who want to sell have evaporated.
In cases where sales arguments such as the future of development on the purchased land, the placement of mobile homes (tiny houses), which are popular accommodation units of recent times, and the return of the investment in 3-5 years with the crop harvest are not valid in reality, our citizens’ investments are wasted.
“Information should be verified from professional members and official institutions”
Ismail Ozcan stated that land and field investments should be subject to more scrutiny, “Our investors should carefully examine the land they are considering purchasing; verify the information from relevant professionals such as architects, civil engineers, real estate consultants or city planners and official institutions; and request a copy of the title deed or a certificate of encumbrance from the seller.”he spoke.
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