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Terms that interest you in the Turkish real estate market

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Terms that interest you in the Turkish real estate market

A set of terms that you need when investing in real estate in Turkey

22nd September 2022

1023

If you want to enter the Turkish real estate market, there is a set of information that you must know so that you do not find yourself a stranger in it and in order to understand everything that is said around you. One of the most important things that you should be aware of are the common terms, and this is what we will talk about in the next report.

What are the most important terms spread in the Turkish market?

In fact, we cannot identify or present all the common words or terms, but we will make sure to present the most important ones:

1 - The apartment:

An apartment is a self-contained housing unit that occupies only part of the building. Apartments are usually owned by a sole owner, but sometimes they are owned by companies and rented out to tenants.

2- The villa:

A villa is a large detached house, usually found in the countryside or on the outskirts of a town or city.

3- The studio:

A studio apartment is a type of property in which a single room is used as a bedroom and a living room. A studio apartment usually has its own bathroom, kitchenette and other small areas.

4 - Duplexes:

A duplex apartment is a type of property that includes two separate living spaces connected by a common wall. Duplexes can be found in both urban and suburban areas and are available in different sizes. Duplexes also provide many benefits to residents, including more privacy from the apartment complex and the ability to have roommates or rent the other side of the apartment.

5 - The penthouse:

The penthouse is a very luxurious and expensive apartment located on the top floor of a high-rise building.

6 - Triplexes:

A triple apartment is a residential unit spread over three floors. "Triple" can also refer to a building with three units, each on a separate floor.

7 - Townhouses:

A townhouse apartment is a type of housing that combines the features of a townhouse and an apartment. Townhouses are usually multi-story units with private entrances and garages. Many townhouses also have amenities such as swimming pools, fitness centers and playgrounds.

8-Twin house:

A twin house is a type of semi-detached house. It is two houses built side by side and share a common wall.

9 – Hotel apartment:

A hotel apartment means a furnished apartment available for short-term rental, usually for tourists or business travelers. Hotel apartments are usually found in major cities and near tourist destinations.

10 - Purchase in installments:

Refers to buying a property in Turkey through a payment plan. This type of purchase is becoming increasingly common, as it allows buyers to divide the cost of their property over a period of time. There are a number of different ways to buy an apartment in Turkey in installments, but the most common way is through a bank loan. Banks in Turkey offer loans for the purchase of real estate, which can be repaid over a period of up to more than 10 years.

11 - Buying in cash:

The term "buying an apartment in Turkey in cash" means that you buy the entire property, without a mortgage or other loan. This is usually done by foreigners who cannot obtain financing from a Turkish bank.

12 - Buying on the chart:

The term "buying an apartment in Turkey “on the chart " refers to the process of buying an apartment in Turkey which is part of a large construction project. These types of projects are usually supervised by specialized companies who are responsible for all the procedures and they sell individual apartments to buyers.

In order to take advantage of this project, buyers usually need to make a down payment on the property price and then make regular payments until the unit is completed. Once the unit is completed, the buyer owns the entire property.

13 - Real estate rental:

The term rental property in Turkey refers to any type of property that is rented to tenants. This can include apartments, homes, rooms, office spaces, and more.

14-Real estate developer:

A real estate developer is a person or company that builds and sells real estate, such as homes, apartment buildings, shopping centers, and office buildings. The real estate developer may build a new property from the ground up, or it may renew an existing property.

Either way, developers usually look for properties that they think will be profitable and easy to sell. Developers typically work with architects and other professionals to plan the construction of a new project. They also work with city planners to ensure their projects comply with local zoning regulations. Once development is complete, individual units (such as homes or apartments) are usually sold to investors or home buyers. In some cases, developers may also choose to keep and rent some units to themselves.

15 - Construction companies:

Contracting companies play an important role in the real estate market in Turkey. They are responsible for the construction and development of residential and commercial properties. In recent years, Turkey's construction industry has been booming, thanks to a growing economy and increased foreign investment. This has led to an increase in the demand for more contracting companies to meet the huge demand, resulting in a competitive market.

16 - Real estate agent:

The term real estate agent in the Turkish real estate market usually refers to an individual or company that facilitates the purchase and sale of real estate on behalf of its clients. In some cases, real estate agents may also manage properties on behalf of the owners.

17 - Real estate companies:

The term real estate companies is used in the real estate market in Turkey to describe companies that are engaged in buying, selling or renting real estate. These companies can be Turkish-owned or foreign-owned.

18 - Real estate broker:

An individual or company that acts as an intermediary between buyers and sellers of real estate. The real estate broker usually charges a commission for his services.

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These are some of the terms that you will find in the Turkish real estate market, and do not forget that following our website constantly puts you in front of many important topics about the real estate sector in Turkey and answers your questions.