Property in Turkey in installments .. Pay slowly and win in a hurry
One of the most successful financing options that help any foreign investor, to own a property in Turkey is the payment of the value of the apartment, house, villa, or commercial office in installments, i.e. a deferred sale contract where the investor pays the first payment of the property price while the rest of the payments are paid at intervals according to the terms of the agreement between the buyer and seller.
The Turkish government has provided foreigners, just like Turkish citizens, with the opportunity to buy property in Turkey in a comfortable installment, as there are no restrictions or barriers that prevent the ease of the process, by not roofing the amount of the first payment or setting any value for the amounts of the remaining payments, And those who want to buy property in Turkey in installments can buy the cheapest types of apartments in Turkey in installments without hindrance the length of time of payment, which sometimes reaches long periods depending on the nature of the contract that brings the seller "construction companies" and the buyer, any foreign investor.
The ways to buy property in Turkey in installments vary between the first method, which is to purchase directly from the construction company, that is, the company in charge of building of the property in Turkey, by organizing an official contract between the two parties in which the property price, installment payment value and time period are specified, with each buyer obligated to pay in the specified dates. And also the construction company to provide the apartment completed in a timely manner and the required specifications, otherwise there will be legal follow-up for any wrongful delay.
It should be noted here that the more the foreign investor purchases apartments for sale in Turkey in installments during the initial stages of construction of the apartment, the price will be down to 40% compared to the approaching completion of the construction of the project or residential complex.
The first installment when buying property in Turkey in installments in the event of choosing to buy an under construction apartment amounts to 35% of the total price of the apartment, but this does not mean that the price is fixed and similar for all real estate companies, but the matter varies according to offers and sales events.
The second way to buy property in Turkey in installments is to pay by using one of the Turkish banks, that is, to obtain a real estate loan indirectly from one of the Turkish banks, where the bank buys the apartment and resells it to the foreign investor with a pledge on the contract of sale, and this signal is not raised until the foreign investor has been able to make all the payments due to him.
The process of buying property in Turkey in installments by bank loans is characterized with a long repayment period of up to ten years with a lower monthly payment value compared to the process of buying apartments in Turkey directly from construction companies.
Generally, the foreign investor's interest in buying property in Turkey in installments is an excellent option as the payment is comfortable with periodic benefit from discounts in certain cases such as paying more than one payment at one time or the launch of projects offers in their beginnings where the prices of apartments in Turkey in this case are much less than properties prices that are close to the project’s deadline.
Finally, those wishing to buy property in Turkey in installments and at the same time seeking to obtain Turkish citizenship by investment must be aware that the real estate investment law in Turkey allowed them to obtain Turkish citizenship by purchasing a property in installments, but provided that the first payment equals 250 thousand US dollars and more.