Many Questions before Buying Real Estate in Turkey 2022
There are several ways and ways that enable you to succeed in Turkey, but what has become famous recently, which has achieved great success, is the purchase of real estate. Turkish real estate has become the greatest opportunity for success and the most likely to obtain the highest prices and an opportunity to obtain high profits. The buyer must develop a road map and many questions before buying real estate in Turkey to ensure that he obtains the goals he aspires to achieve when he wants to buy real estate.
The most important questions to ask before buying real estate in Turkey:
The buyer who wants to buy real estate in Turkey must define a set of questions that must find a clear answer. We will start by asking the most important of these questions
What is the purpose of the purchase?
Here the investor must determine whether he wants the property for the purpose of housing or for commercial investment and to choose a property suitable for the budget allocated for the investment.
-The location and city in which the property is located:
The location is very important in determining the price of the property. The properties in the tourist areas, such as apartments for sale in Istanbul, are more expensive than the apartments in other cities. Hence, we can say that choosing the city is according to what the investor desires. If the property is for housing and residence and the budget is limited, a suitable property can be found in the countryside or ordinary Turkish cities real estate area
-The real estate space,which plays a major role in determining the price of the real estate, the investor must choose a suitable real estate space for the demand and what he desires
-Property view:
The investor must choose the view of the property very carefully to suit his desire for residential investment or suit the desire of customers for commercial investment. A property that overlooks the sea or the beach is more expensive than a property that overlooks a normal view.
-Real estate servicing:
The investor must search for a property served with all services, such as water, electricity, internet, telephone lines and other public or private services.
How can a buyer protect himself from real estate fraud?
Here the buyer should look for a set of reliable procedures that make him avoid fraud problems and fall into them, and this includes:
-Choosing reliable and reputable real estate companies in the real estate market in Turkey
-The government procedures required to complete the process of buying real estate through legal methods must be reviewed
-You must communicate with the previous clients of the company that has been selected.
What are the facilities provided by the Turkish government to real estate investors?
The investor must be familiar with the most important facilities that the Turkish government seeks to provide to most of the Turkish and foreign investors in order to be able to obtain them, and this includes knowing
-What are the taxes incurred by the foreign and Turkish investors?
-What is the time period required to complete the transactions related to the process of buying a property
How to obtain real estate residency in Turkey?
Businessmen and capitalists often wonder how to obtain residency in Turkey by buying a property. A foreign investor can obtain real estate residency if he fulfills a set of conditions and instructions set by the Turkish government that authorize the foreign investor to obtain real estate residency when buying a property in Turkey, with a price of not less than 75 thousand US dollars.
How to obtain Turkish citizenship by buying a property?
Turkish citizenship can be obtained through real estate investment if the investor achieves a set of conditions and amendments that were put in place by the Turkish authorities at the beginning of 2022, and these conditions are
-The property price shall not be less than 400 thousand US dollars.
-The investor must sign a pledge not to sell the property for a period of no less than 3 years.
-The property that the investor wants to buy should not be within the unauthorized areas
-The owner of the property who sold it must have Turkish citizenship, or the company that sold the property must be a Turkish company.
-The procedures for registering the property must be sound and to be registered in the title dept., even if the property is under construction.
-To go to one of the real estate appraisal companies approved by the government and obtain a real estate appraisal report from it.
-To pay the price of the property in foreign currencies and then exchange it in the Central Bank of Turkey.
What are the advantages enjoyed by the real estate investor in Turkey?
This question is often asked when the investor wonders and thinks: What are the advantages that I can get once I think of buying a Turkish property?
-The real estate investor in Turkey has the most important opportunities and plans to get profits and financial returns, through the business of commercial investment by buying and selling real estate, and many investors are heading to Turkey in search of success in their real estate business.
-The real estate investor can expand his real estate business because of the cheap real estate prices in Turkey, and because of the facilities provided by the Turkish government in the field of real estate investment.
-The investor can benefit from renting the property, and this returns to him a fixed, continuous and agreed monthly income between the lessor and the lessee.
-The real estate investor can guarantee the continuity of his real estate business due to the large and continuous demand for buying real estate in Turkey.
-Real estate investment allows the investor to visit all regions of Turkey, enjoy its tourist attractions and practice some activities in it
-The real estate investor in Turkey can buy real estate in installments either from the property owner directly or by installments through a Turkish bank
-The possibility of obtaining a Turkish passport for the real estate investor with Turkish citizenship by purchasing a property in Turkey, which entitles the investor to enter most countries of the world through it.
What are the available ways to buy real estate in the real estate market in Turkey?
There are many ways to buy real estate in Turkey through which the investor can buy the property he desires, and among these methods we mention
-Buying private real estate:
The investor can buy real estate from the owners of private projects, such as buying apartments of all kinds, houses and others
-Buying real estate from offices and companies:
It is possible to buy from real estate offices and real estate companies, where you must choose an office close to the place you intend to buy and choose offers that meet the investor’s desires and what he is looking for, where the investor can choose the appropriate price according to the budget allocated for investment. What distinguishes this type are the appropriate prices in order to compete between companies and offices in the offers presented to the investor.
- Buying real estate in installments:
It is possible to buy a property in Turkey in installments, as it has become possible to obtain and buy a property without paying the full amount agreed upon, but to pay the amount in installments agreed upon by the seller and the buyer within the terms of the contract. Hence the idea of selling in installments spread in the real estate market in Turkey, but the buyer must pay the first agreed payment after the agreed period in the text of the sale contract, and the title deed remains with the seller, and is not delivered to the buyer until he pays the full amount agreed upon, in order to preserve the rights of both parties.
These were seven of the many questions before buying real estate in Turkey that come to the minds of most people who want to buy real estate in Turkey, whether foreign or Turkish investors.
