Do you have some questions about buying real estate in Turkey? Do not look for answers far, because we have dedicated this article to ask all the common questions about real estate ownership in Turkey, and then we will provide the answer to them.
We hope that you will find the information you are looking for about real estate in Turkey through the following questions.
One of the most popular ways to obtain Turkish citizenship is to invest in real estate worth two hundred and fifty thousand US dollars, and it must be committed not to sell it before three years have passed.
The property must also be purchased from a Turkish citizen and then paid for it through a Turkish bank.
In 2012, the Turkish government issued a decision abolishing the reciprocity law, according to which all foreigners can buy a property in Turkey with the exception of only five nationalities (Armenia - Cuba - North Korea - Cyprus - Syria).
There is a set of advantages and advantages that prompted foreigners and investors from different countries of the world to buy real estate in Turkey, the most important of which are:
- Obtaining real estate residency.
- The possibility of applying for Turkish citizenship.
- Real estate prices are rather low.
- The many facilities provided by the Turkish government.
- Modern and upscale properties with distinctive designs.
One of the basic conditions that must be met when buying property in Turkey is the presence of a real estate appraisal report in order to accurately determine the price of the property, which has several benefits (real estate prices controlled - prevented sellers from manipulating prices - gave the buyer safety - attracted foreign capital).
One of the things that you should consider when looking for real estate for sale in Turkey is the financial source. You have three sources, which are as follows:
- To have the amount with you and you have saved it at an earlier time, and this is the best option, as you will not have to borrow.
- If the amount is not available to you, you can take a loan from a Turkish bank, and in turn the bank places a mortgage sign on the property and does not raise it until after the full price is paid.
- It is also possible to buy property in Turkey in installments, by paying the down payment, which ranges from 35% to 50% of its value, and the rest is divided into spaced installments.
One of the best ways in which you can find real estate or apartments for sale in Turkey and the fastest is to deal with a real estate company with experience and knowledge in the Turkish real estate market, as these companies provide their customers with the best and most important offers suitable for them and their goals.
One of the benefits of buying a property through a real estate company is that you will shorten time, save effort and fatigue, and keep you away from falling into the trap of fraudsters and weak-minded people.
Many foreigners resort to buying real estate that is still under construction, as it is a great option for those who do not own the full price of the property or for the person who prefers to add some of his own ideas and modifications that suit him, one of the advantages of these properties is that their price increases by 20% to 30% upon completion construction stages.
What you should pay attention to is to include all the terms agreed upon in the contract and make sure that you are able to commit to the payments on time in order not to be subject to fines.
You should see all the expenses that you must pay when buying a property in Turkey, and these are the most prominent ones.
- The cost of extracting the title deed of the property, which amounts to 4% of the property value, and is paid by both the buyer and seller equally, but sometimes it is borne only by the buyer.
- Real estate appraisal report, the cost of extracting it is about two hundred US dollars as a maximum.
- Earthquake insurance document.
- The cost of translating papers and documents into Turkish and its friend with the notary public.
Real estate prices in Turkey are known to be moderate and appropriate compared to prices in other countries, and if you want to buy cheap apartments, you must follow the following points.
- The distinctive strategic location and the wonderful view increase the value of the property, so if you want to buy a property at a suitable price, stay away from this feature.
- You should stay away from the city center and choose the remote areas far from the service centers.
- You should know that if you want to invest in real estate, cheap real estate does not provide you with the abundant profit that you dream of, but it is a good step for people with low budgets.
- Real estate prices in Turkey are constantly rising, and therefore the price of your property is likely to rise at any time and you will benefit from the price difference that resulted between the buying and selling stages.
Of course, in addition to all the advantages and advantages of the matter, but there are some negative aspects that you should pay attention to, such as:
- The possibility of falling victim to real estate fraud, so be careful to deal with a reliable party.
- You may choose your property wrongly or not suitable for the goal you hope to achieve through it.
- Change in the value of the Turkish lira against foreign currencies.
If you have any other inquiries about buying real estate in Turkey, you can contact us and we will provide you with all the answers.
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