Turkey is gaining a tremendous amount of fame among the leisure tourists and the global business elite as one of the best vacation destinations in the world. Because of the country’s popularity, numerous Turkish real estate companies as well as the government are thinking of ways to best accommodate those who wish to travel and explore the rich culture and beautiful landscapes of the country. People with sufficient investment capability have been eyeing the Turkish property sector to acquire a holiday home as well as acquire the residential permit or Turkish Citizenship by Investment.
Though, there are numerous travel enthusiasts who wish to have the same facility but lack the purchasing power to acquire an expensive property for vacation-only purpose. Luckily for such people, there is a more convenient buying system available in the Turkish Real Estate Market called the Timeshare system. Timeshare Buying is a system whereby the buyers can acquire a time-based share into a property such that they can use their property for a fixed portion of the year. The shareholders are given the possession to the property but the ownership remains with the project developers. Following are some of the types of timeshare buying that the investors should know about:
- Points Club – A system where the investors use the accumulated of purchased points to use a property from any different location or community. The points can be used as a medium of exchange between the property holders from various locations.
- Floating – A system that is similar to point club in the sense that the shareholders can use their time slot during any given time of the year. However, owing to the unconstrained nature of the system, not many communities allow people to operate according to it.
- Fixed Slot – A system that is perhaps the exact opposite of a floating system, such that the shareholders shall be allotted a fixed time slot at a particular time of the year during which they can use their property.
- Right to Use – A system whereby the shareholders have the liberty to rent out their property for their respective tenure. However, like all systems, the project developer still reserves the rights of ownership.
Turkish government also allows the timeshare system as a contemporary solution for those who wish to enjoy the Turkish hospitality, rich culture and natural beauty without having to spend a fortune. With that said, following are some of the advantages of having shares in the Turkish Timeshare Property:
- First off, the biggest advantage is perhaps the Cost Efficiency. In this model, an investor is only supposed to pay for the portion of time whereby s/he shall be using the property.
- Having a guaranteed holiday spot for yourself is always a relief if you wish to steer clear of the painstaking procedure of selecting between a myriad of options.
- If your project developer allows the floating or point club timeshare system, you can trade time slots or locations with other shareholders.
- If you’re not using your property during your time slot, you can rent out your property to earn some money off of it during your time slot, provided that your project developer allows it.
Turkish real estate is quickly picking up a reputation as one of the most desired real estate destinations. It is important to know that although the timeshare system is cheap, it offers the best advantage only to the early movers. Therefore, given the aforementioned facilities and features, now is the ideal time to move early, grab a share and enjoy the privileges as you would if you Settle in Turkey.