Is it Logical to Buy a House in Urban Transformation Areas?
Urban transformation projects are a comprehensive transformation process that aims to build earthquake-resistant, modern and planned living spaces in place of old and risky buildings. This transformation both increases city aesthetics and safety and offers important opportunities for investors. In particular, new projects in the transformation area attract attention with affordable launch offers and government-supported loans.
However, there are also some risks alongside these attractive opportunities. In particular, the ownership process, delays in the project, the reliability of the contractor company and uncertainties that may arise during the construction period can challenge the investor. For this reason, the past projects of the contractor company, its track record regarding delivery time and license-building inspection documents should be carefully examined.
In addition, as infrastructure projects and environmental regulations in the region are completed, the value of the property may increase exponentially. Newly opened roads, metro stops, social facilities and parks make the transformation area attractive not only for investment but also for living.
If you are considering buying a house in an urban transformation area, you should analyze the risks as much as you focus on the opportunities and, if possible, follow the progress of the project one-on-one. When you take part in the right project, these regions can become a profitable investment both economically and socially.