The most important questions and answers related to buying a house in Turkey
The Turkish state has recently become a country with a resounding reputation in the field of real estate investment in the world, as the Turkish government has developed a comprehensive plan aimed at raising the country's investment and economic level.
And it has established more than one huge global project, such as the new Istanbul Third Airport, and the new Istanbul Water Canal, which made many investors wonder about how to buy a house in Turkey, and what are the ways in which real estate investment in Turkey can be done.
The real estate investment market in Turkey is a first target for the foreign or Arab investor, as investors aspire to very special investment operations by pumping capital to Turkey in general or the city of Istanbul in particular, as it is the capital of tourism and economy in Turkey.
The real estate market in Turkey is very diverse, where the investor can choose what suits him in terms of his investment objectives and capital, and in return guarantees a high profit, and it is worth noting that construction companies have built many residential and real estate projects with distinctive modern designs, in the past few years.
There is no doubt that the diversity of real estate and its forms provided the opportunity for foreign and Arab investors to see many types of real estate units, and to choose the best ones according to the criteria that each investor needs, the capital he owns, and also to the goal of buying the property or the house.
This question is the most important in our hands, in order to be able to buy a property or a house in Turkey, several important steps must be taken, so that the purchase procedures are carried out without fatigue or trouble.
Since you are in front of a very open and diverse real estate market, you must first and foremost determine your goal of buying the property, is it housing or living? or obtaining real estate residency with all its advantages? Or getting a Turkish identity by buying a property in Turkey?
In order to achieve your goals successfully and without losses, you must first seek the assistance of a trusted real estate company or real estate office, to accompany you on your journey with a person with good, complete knowledge of everything related to buying a house in Turkey.
Several main steps must be completed in order to buy a property in Turkey, which we explain below:
First: You must choose the appropriate property or house after seeing in kind all the properties available for sale, and then prepare the following documents:
-A photo of the exact location of the property in the municipality's plan or what is called (site statement).
-A copy of the title deed or ”Tabu”.
-The property number is exactly according to the municipality's plan.
-Preparing 4 high quality personal photos.
Second: You must get the tax number, which is a number that is extracted from the tax department in a short time (and we will explain the steps for getting it later).
Third: Your passport must be translated into Turkish, and then certified by a notary public.
Fourth: Signing of the sale and purchase contract with the seller of the property, and only 25% of the total value of the property is paid, until the procedures for transferring ownership to the buyer from all the competent official authorities are completed.
Fifth: The rest of the property price is paid in full and after getting the approval of the region's directorate and the security authorities.
Sixth and finally: The application for the transfer of ownership is submitted to the competent security authorities, and the approval of this application takes about 45 days, in the case that the property is complete and does not have an apartment owned by foreigners, but in the case that it is owned by a foreigner, the transfer of ownership request ends within one day.
After the approval is issued by the competent security authorities, the title deed is reviewed with the seller in order to verify the correctness of the registered data such as the property number, area, etc.
The tax number in Turkey is a very important document, which is required in most legal or official transactions, such as opening a bank account in a Turkish bank, and you can easily get your tax number as follows:
-Prepare a copy of your valid passport, and register your residence address in Turkish territory.
-Go to the nearest tax department in your area of residence.
-See the concerned employee and request the tax number from him.
-Finally, the employee enters your data into the computer, and then gives you a card with your tax number registered.
There has been a very high demand from foreign or Arab investors to buy real estate in Turkey, and therefore a certain mechanism had to be put in place to prevent real estate fraud or scams.
Accordingly, the concerned authorities have obligated all investors, without exception, to get a real estate appraisal report, and this report is issued by specialized companies from the Turkish government, and the report contains an assessment of the property’s condition and an appropriate price for it, and the real estate appraisal document is valid for three months from the date of its issuance.
The good news is that the answer is yes, this procedure is available in Turkey, where you can authorize someone with an official legal agency, to carry out all the necessary procedures on behalf, through the Turkish consulate in your country of origin, or the Turkish embassy, or through the notary in Agency status from within Turkey.
It is worth noting that this special service is for many who want to invest in real estate in Turkey or buy a house in it but cannot be present in person due to special or health conditions, and as usual, it is one of the characteristics of the booming real estate investment market in Turkey.
One of the advantages of buying a property in Turkey is getting a residency after purchase, where you are granted a residency within Turkish territory for a period of one year, and the residency is renewed for the duration of the property ownership.
Almost all residential and real estate projects have no restrictions on the possibility of selling them to foreigners, except for some rural areas, which include farms and military areas, where they are not sold to foreigners in Turkey.
All foreign investors wonder about a certain quality or specification of the property in order to be suitable for real estate investment and achieve the highest profitability rates. In this regard, there are certain criteria that can be adhered to in the desired property in order to achieve a profitable investment equation.
-The location of the property should be in a developed urban area, which is witnessing a great demand from those wishing to live in it.
-The desired property is in a modern building, as the price of these properties is constantly increasing.
-All basic services are available in the real estate area, such as schools, universities, institutes and hospitals.
-The real estate area has a high-quality and developed transportation network.
-The availability of famous tourist attractions gives the property a very special investment value.
-Choosing areas that are very popular, in order to ensure the influx of tenants to your property, and then you can also sell the property easily and conveniently when you want.
-The property or the house should have a modern character that matches the modern taste.
-Finally, the area of the property or house should be medium or small, because large and wide areas require large families and are often difficult to sell.
Until not long ago, a foreign citizen could buy a house in Turkey legally according to the existence of the reciprocity law, which stated that foreigners could own real estate in Turkey as long as Turks could own real estate in their foreign country.
This law has been abolished, and any foreigner can now invest in Turkish lands and buy a house or property, with the exception of five nationalities that the Turkish authorities have decided not to allow them to own real estate in Turkish lands, and those prohibited nationalities include Armenian and North Korean citizenships. And the Syrian nationality, the Cuban nationality, and the Cypriot nationality.
The global competitive advantage of real estate investment in Turkey in general is the possibility of getting a Turkish identity through real estate investment and the purchase of a property, and it is no secret to us the importance and strength of Turkish citizenship at the present time, so many are aiming to get it.
A foreigner can get Turkish citizenship through real estate investment, provided that the total value of the property is not less than 400,000 US dollars, and that the house or property has not been sold for a minimum of three years.
The prices of real estate units and apartments in Turkey vary greatly depending on the real estate area and the age and condition of the building. For example, if we are talking about a relatively old apartment, and somewhat far from transportation, its price will certainly be affordable for everyone, and apartments with a very suitable price can be found in Turkey.
But if we are talking about a real estate unit within a residential complex, very close to the transportation network, and the residential complex enjoys many entertainment and vital services, then the price of the property will be, of course, higher than another apartment in a regular independent building outside the residential complexes.
It is worth mentioning that housing in residential complexes in Turkey is popular and preferred by many, due to the availability of many security and guarding services, as well as the entertainment and parking spaces, and other high-quality service facilities.
The good news here is that a foreigner can buy apartments or real estate in Turkey at an affordable and relatively cheap price, as there are many special offers offered by the various real estate companies in Turkey, where you can buy an apartment that is very suitable for its price in many areas in Turkey, such as the city of Ankara, Izmir, Bursa and Antalya, and each of these areas has great advantages, some of which overlook the sea and you can enjoy a stunning coastal view from your balcony when you buy a property in it, including what enjoys ancient historical and archaeological civilization, which gives your property a very special investment value.
Of course, we are talking here about the global Bosphorus, and if you want a stunning and magnificent coastal sea view, the price of an apartment or property will certainly not be cheap, as the Bosphorus is one of the most expensive areas in terms of real estate price.
Of course, this is due to the fact that it is a very important and vital area, surrounded by huge and international projects, and the real estate in it is characterized by unique panoramic sea views, but the prices vary slightly depending on the proximity of the real estate unit to the sea.
Some foreign investors want to buy a property in Istanbul, but it becomes clear to them that the prices in the Turkish city of Istanbul are rather high and expensive, so they turn to the idea of renting, but there are several criteria that must be taken into account:
-If you rent an apartment in Istanbul, you will not be able to use it for a commercial purpose.
-You cannot rent apartments in Istanbul with anyone else.
-As a renter of a property or house in Turkey, you must report any damage that occurs to the property as a result of not being vacated, in cases that require the property to be vacated.
-As a tenant, you must send the monthly installment to the landlord no later than the fifth of every month.
During the journey of searching for real estate in Turkey, you will find a somewhat strange coincidence, which is the difference in prices for apartments, even though they are located in the same area, due to several reasons, which we explain below:
-A very important factor is the extent to which the property or house is close to commercial markets and shopping centers, as it is an indispensable service facility.
-The distance between the property or the house and some other important services such as schools, hospitals and health centers.
-The transportation or transportation network surrounding the property or the house and how close it is to it.
-The existence of entertainment facilities or not, as the cafes, restaurants and shops in the vicinity of the property or close to it, is an important hidden feature of the property.
-Finally, the distance between the property or the house and the various governmental and municipal institutions, as this is an important service facility as well.
It must be noted that when you are looking for a property or a house at a very cheap price in Turkey, this means dispensing of some service facilities or advantages, and this depends on your needs and goals of owning a property or house in Turkey.
One of the most serious reasons why a property in Turkey is very cheap, is the legal status of the property, and the investor must be very aware of this matter, and check and make sure that the desired property is free of some legal problems such as:
-Mortgage, which is a very serious legal problem, you must make sure that the property or house that you intend to buy is not mortgaged to the bank or the like.
-Inheritance problems, where you must ensure that there are no inheritance problems about the property among the heirs.
-That the house or property is in an area where you are not allowed to own property, which is easy to know.
-To have a notification of the demolition of the property.
-That the property is threatened with eviction.
-Having problems with the title deed.
-Failure to match the specifications of the property registered in the title deed with the real specifications of the property.
But all these problems and others can be avoided by hiring a famous and trusted real estate company or real estate office, and avoid dealing with brokers, even if they offer special offers, so do not be attracted by very cheap investment offers.
- It is partnering with the most trusted and successful construction companies in the construction of buildings and residential complexes in Turkey.
- Take your hand to choose the right property.
- It assists its clients in the procedures for obtaining real estate residence, Turkish citizenship, and Turkish passport.
-Signing contracts and required papers and legally ratifying them.
- Our motto is seriousness and credibility in dealing to ensure our clients successful real estate investment in Turkey.
At the conclusion of our article, we have shown the advantages of buying a property or a house in Turkey, and we hope that we have succeeded in providing a detailed and comprehensive explanation about buying apartments in Turkey, and clarified the advantages of real estate investment in Turkey.
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