You may have heard that the current most valuable districts of Istanbul were once fields or vineyards. Photos from the times when Maslak was full of vineyards and Kartal was a fishing village are circulating on the internet.
Be patient
One of the first things you need to know when buying land is when you want it paid off. Land and land investments are long-term but profitable investments and you may need to be patient for 10 to 30 years for good returns. A residence or business can generate regular income with rental income, but you will have to wait for land and land investments and pay property tax each year. You have to be patient to see results in land and land investments.
Are you aiming for short-term or long-term returns?
As we said, land and land investments are investments that provide returns in the long run. If you are targeting 5-10 years, land investment is recommended, if you can wait more than 10 years, land investment is recommended. It is difficult to sell at value during periods of slowdown and you may have to wait for the market to recover. Knowing the right time is among the things to know when buying land.
Reconstruction
A vacant lot is an unzoned piece of land. When the land you buy is zoned, you can earn very high profits, but if it is not zoned, the value increase will be limited. As the population and trade increase in the region, the land gains in value, and if it is possible to build more buildings with the zoning change, its value will increase at the same rate.
Follow regional development plans that include investments that will add value to the land or land in the future. Get information from the relevant municipality about the land you intend to buy or the zoning plan of the land.
Location
The most important thing to know when buying land is where it is located. The increase in the value of land is determined by the increase in population, trade, industry, investment and infrastructure projects nearby. After a while, these developments cause zoning in the region where the land is located and the land can turn into a plot.
The lands on the development axes of the cities gain value faster. Small cities often expand along the way to the big city, so investments in this direction may be more profitable. The purpose of land investment is to purchase zonable land without zoning and to benefit from the increase in value that comes with zoning.
Another bonus information: “The value of a plot with a frontage to a wide road will increase. If a commercial building is built there, a wide facade will increase revenue thanks to the large showcase and signage area.”
Things to Avoid
Things to know when buying land cover, and which ones to avoid. Common titles, protected areas and watersheds should be avoided.
With the joint title deed, other partners can use their pre-emption rights and receive title deed from you in return for the price you pay. Watersheds and protected areas are not zoned, so your investments will not yield the returns you expect.
The lands close to the forest are also risky as they may be included in the forest belt. Square shaped plots are ideal, rectangular plots can also be attractive. Trapeze and round plots are also risky as they make construction and use difficult.
