Apartments with a government guarantee for sale in Turkey are among the best options, especially in projects under construction. The Turkish government, its companies, or municipalities guarantee the specifications and on time delivery
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The apartments with a government guarantee for sale in Turkey add reliability and safety to everyone who wishes to own real estate in Turkey... The Turkish government, one of its companies, or municipalities guarantee to check the construction specifications, on time delivery, and completing the project if the contractor stumbles.
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There are many forms of government guarantee for apartments in Turkey. First, the title deed 'Tabu' is issued by the Title Deed Directorate in the name of the property owner, which proves the person's full legal ownership of the property in the Turkish real estate market and before the competent authorities.
There is a government guarantee for the under-construction apartments, known as 'real estate on the map'. The government monitors all the construction stages of the residential project in all its minute details, starting with laying the foundations, the finishes, and decoration, through signing the contract and handing over the apartments to their owners on the exact delivery date.
The construction companies, that give a government guarantee for apartments, are the companies of the Ministry of Environment and Urbanization, the Turkish Council of Ministers, or one of the major municipalities such as the Greater Istanbul Municipality IBB.
Among the most prominent government companies that give a guarantee on real estate: Toki, Emlak Konut, Kiptas, where partnership contracts are conducted with private construction companies, to establish the housing project on land owned by the state, or by the concerned municipality, provided that the private construction company implements the construction work, under the full supervision of the government agency.
In addition, the government company ensures the completion of all construction operations and the project finishing in all its stages if the contractor fails to complete it for any reason.
There are many advantages to purchasing an apartment with a government guarantee in Turkey. It guarantees you all buying and selling stages, starting from ensuring the safety of buildings, the quality of finishes, the integrity of the title deed, monitoring the process of promoting and marketing the property, through supervising the payment and receipt.
Also, the apartments that are guaranteed by the Turkish government comply with the conditions for getting Turkish citizenship through investment. Besides, there are many other notable features such as sports, health and social facilities, and the pleasure of charming views.
The following are the most prominent advantages you get when purchasing an apartment with a government guarantee in Turkey:
When buying an apartment with a government guarantee, the buildings' safety and the quality of finishes are guaranteed. The state construction company guarantee requires the contractor to submit architectural, structural, and mechanical approvals for the project by the concerned government agencies, according to standard parameters.
In addition, a geological report from the responsible party is requested. When the excavation is completed, a test is conducted again on the land and soil. Also, the state agency verifies the safety and quality of construction materials and equipment to ensure there are no defects in them.
If the report proves a defect in the construction materials and equipment, an immediate decision is taken to stop paying any amounts of money or fees until conducting re-investigation to ascertain that the materials and equipment used in construction have been changed according to the specified standards.
It is noteworthy that all projects with a government guarantee are resistant to earthquakes, which is confirmed by samples testing of reinforced concrete, iron, and building materials used in construction operations to ensure compliance with specifications.
The government guarantee gives you complete security in all the related issues to the title deed and its integrity. The guarantor companies require not to sell the property nor offer it for sale before all the requested licenses are completed to ensure the safety and licensing of the building.
The guarantor companies are also responsible for supervising the signing of the sales contract by the Notary Public (notarizing) while attaching all the necessary papers and documents to avoid making any possible mistakes in the future after investing in real estate in Turkey.
In addition, the issuance of the initial and final title deed, housing permits, and all other documents related to the title deed are supervised and then certified by the notary office, according to the specified date in the contract.
The government guarantor company verifies the validity of all data and information before it is presented to buyers, ensuring the accuracy of the project catalog and the processes of promoting it through commercial advertisements in newspapers and on social media platforms...
The designs and finishes of the apartments and all the numbers in them are also scrutinized. Also, the offered price plans are monitored, and everything needed is prepared before offering the apartments and residential units for sale. In addition, no apartment is sold without getting the Capital Authority approval.
Buying a property with a government guarantee in Turkey is done through paying the agreed payments to the guarantor company's bank account; it is the one who transfers the money to the contractors to ensure the accuracy of the construction schedule.
Upon receipt of your apartment, the guarantor company checks each part of the building to ensure it conforms to the initial project plan. Then, the Interim Administration of the compound is defined by the company, in agreement with the contractor, until primary management is elected by the residents.
Not only that, but the guarantor company is concerned with the complaints submitted by the residents and evaluates them. A year after the project delivery, it is reviewed by the company to ensure its final approval, then paying the remaining amounts to the contractor.
Of course, the guarantor companies benefit from the profit margin to cover the costs of supervision and control of the project and verify its quality and compliance with specifications.
With all these advantages, the prices of government-guaranteed apartments in Turkey are not higher than other compound apartments in Istanbul, yet, they are often at competitive prices.
Finally, if you are looking for government-guaranteed apartments for sale in Turkey, our team at Binaa Investment is happy to help you choosing the best available apartments with a Turkish government guarantee, ensuring quality and safety according to your specific requirements. Contact us now to review all the options that are suitable for you.
Edited by: Binaa Investment©