International Real Estate - Turkey

[Eric Borgman]

Has anyone bought property in Turkey before? First time buyer. My wife is from Turkey and the exchange rate is at an all time low. We're looking at brand new 2BR/1BA apartments in a major city for $40K that we'd pay in cash. Obviously the exchange rate could cut either way, but don't expect it to keep going down. Property taxes, closing costs, and and insurance are all much cheaper than in the U.S. Would love to hear any thoughts.

purchase price: $40K
monthly rental income: $250/month
closing costs (2%): $800
insurance: $20/year
property tax (0.2%): $80/year