Things you need to know before investing and buying property in Turkey
The Turkish government grants many facilities to foreign real estate investors, and the real estate sector in Turkey is witnessing good movement and rapid growth,
But investors always wondering, how to avoid legal problems that may occur as a result of not knowing the real estate laws well or not understanding the Turkish language
There are also fears of the risk of falling victim to promoters and misleaders, and therefore, before dealing with any real estate company, it must be verified that it is a reliable company recognized by the Istanbul Chamber of Commerce and also has a commercial register and tax number.
To avoid all these problems and to secure complete knowledge about real estate investment, we offer you your safe guide for investments in Turkey
Advantages of real estate investment in Turkey:
Turkey ranks first among many countries in the real estate market and investments, and a report published by an American newspaper specializing in the field of real estate and real estate consultancy indicates that Turkey came at the forefront of countries in terms of the increasing demand for buying real estate, and Istanbul is the ninth most visited city around the world.
It is clear that the real estate market is on the verge of a heavy buying movement due to the facilities provided by the Turkish government in this field and its construction of modern projects, and new transportation and communication networks.
Therefore, buying property in Turkey will be a golden opportunity to make a profit in a safe and secure manner and benefit from the increase in real estate prices and rents that increase annually.
The Turkish state also grants you when you buy a property a real estate residence document, and if the period of your ownership of the property exceeds 5 years, it may later become permanent residence, and it is possible when you purchase one or more properties for an amount more than 400,000 US dollars to obtain Turkish citizenship
What are the things to take into consideration when starting a real estate investment plan?
First: Determining the capital allocated for real estate investment in Turkey
Second: Location: The appropriate location of the property guarantees good and continuous profit even when the Turkish real estate market is stagnant
Third: Hiring a legal and real estate advisor: he is the person who will guide you to choose the right investment opportunity among the huge amount of offers available in the market
Steps of buying a property in Turkey
The first and most important step is to personally inspect the property you want to buy, and as an investor, you can register the requests that you deem important and guarantee your rights to the sales contract concluded with the real estate company. As for the issue of fees and taxes, the title deed fee is 4% of the property value and the title deed document obtaining fee is 1%. There are also other fees such as translation, notary and registry office. After the purchase is completed, you can apply for a real estate residence permit, which gives its owner many advantages and facilities for a period of one year, subject to renewal, for the owner of the property and for all family members.
Types of title deeds in Turkey
There are two types of title deeds:
Residential land and construction is carried out according to certain conditions and specific specifications determined by the municipality of the area in which the land is located. This type of bond is divided into three different types: the title deed of the land, the title deed of the incomplete real estate, and the title deed of the apartment or property, and it contains all the special details in the apartment.
Agricultural land is valid only for agricultural activities.
How to buy a property in Turkey
After choosing the location of the property you want to buy, whether for residence or rent, the law of the region in which the chosen property is located is verified and whether there is a possibility to buy this property or not, because some cities and regions allow specific percentages of the structure for foreigners, after that, After that, a study must be carried out on the situation in the area and the mechanism of increasing prices in it. Finally, the year of construction is examined and the property title deed is available before the sale contract is signed.
Real estate prices in Turkey
Real estate prices vary greatly between Istanbul and the rest of the regions in Turkey, and there are several factors that lead to an increase or decrease in the price, such as proximity or distance from the Bosphorus Strait, the presence of services and proximity to public facilities, the location of the property near the sea or near green squares, the case The architectural property in terms of the facilities of the property, the type of cladding, the availability of all legal documents, all of this would constitute an additional value for the property.
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