New Self-build Off-plan Mortgages in Turkey

NEW Self-Build Off-Plan Mortgages in Turkey
Relatively low construction costs in Turkey make it possible to own a top bracket luxury home for a fraction of the acquisition cost elsewhere.

For example, a palatial 250 m2 floor plan will have a construction cost of £65 - 100,000. Land costs vary widely, but for a desirable location the total land and build cost would typically range £110-185,000.

Provided the design and location are right, these type of villas can generate a gross rental yield of 14-18% for the April to October season, and more near an all year golf resort development. In order to achieve these rental yields,  plot design and location are the key.

For those with a penchant for the ultimate in both Interior and exterior finishing quality, the range of choice is unsurpassed. Superb artisan craftsmanship in wood and stone work is abundant to compliment exceptional design skills in the best tradition of the Sultans - imported Italian, French, or Istanbul chic.  Turkey has long been a sought after treasury of rare marbles, ceramics, and metals for foreign markets, and the available choice would not disappoint a creative Italian designer's most extravagant ambitions.

For anyone satisfied with nothing less than an exceptional life-style standard, Turkey is one of the best kept secrets, and one of the most desirable locations anywhere in the world. Those in the know, include  many from the ranks of the rich and famous, enjoying discreet privacy in select locations all along the Turkish Riviera. And why not? This coast line has been the idyllic home of innumerable civilisations since the dawn of time for very good reason, as anyone who has ever visited will attest to.

The rugged and lush green mountainous terrain, and endless small turquoise coves, make this coast line perhaps the best hide-away anywhere - which shouldn't come as surprise considering the history of piracy since ancient times. Never-the-less, the casual observer is inevitably surprised by the number of £2-10 million estates snuggled  discretely out of sight and sound, so well concealed as they are.

Understanding the attractions of this segment, the Turkish Mortgage Centre are very pleased to introduce the first off-plan self-build mortgage in Turkey. The product enables a lifestyle investor to use 20 year mortgage finance for the land purchase and construction of the ultimate dream home, over a one or two year build cycle. “Turkish mortgage legislation is very specific, so we are very pleased to have succeeded with the bundling of services and development of this product, enabling lifestyle investors to finance a £1-2 million home for a build cost of a couple hundred thousand pounds   - the sale value of a semi-detached house in the UK -  an obviously enticing investment proposition.” 

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