Investing in real estate here relies on buyers paying off their mortgages over 15, 20 or 30 years. It is different in some other countries. I learned that some of the premium real estate in Turkey that is being built for residential housing is being sold for 100 percent cash up front, or 50 percent now and the rest in 12 equal installments. I have never heard of this. Turkey has a lower cost of living, but I am talking about modern skyscrapers with luxury living spaces. They call them apartments to buy in Turkey, but we would understand them better as condos. These are really nice places. The mix of Ottoman, European and Asian design elements make for some really fabulous living spaces.
I have seen marble bathrooms, kitchens in white that have stainless steel appliances. Everything is as modern and state of the art as you would expect for a luxury condo here. Big rooms designed by architects that know what people want in their homes are what you will find. The common areas include luxury swimming pools and places for your to gather with friends or family as well as spaces to sit and relax off by yourself. That is more my speed if I would live in an urban apartment structure. The architects have taken into account the different desires of all kinds of different people who will be living in their apartments. One thing that always turned me off for urban living is always being around other people. These designs let you be able to experience solitude in an urban environment that is filled with people.
The fact that people buy these places outright with cash up front is amazing as some of them approach $250 thousand in cost! This is what makes investing in the construction of these properties so interesting. There is no long term speculation. People buy their apartments and move in. Cool concept.