The complete answers for all your questions about real estate investment in turkey 2021
Are you dreaming about purchasing a house overseas? What you are looking for might be in Turkey!
Massive developments have taken place in certain cities in Turkey in the last few years, so the value of Turkish real estate has reached a place where it is being noticed worldwide.
Building companies have been thriving in Turkey, aiming to build some of the most luxurious properties in some of the most beautiful places.
Here are ten questions you should know about its response before buying a property in Turkey.
Table of content
- How to find a good and reliable Real Estate company?
- How do I avoid misinformation and inflated ads before choosing a property in Turkey?
- How do I check prices, construction materials and quality before buying a property in Turkey 2021?
- What is the rental guarantee for real estate purchase offers in Turkey?
- How can I differentiate between the different types of title deeds in Turkey?
- How do I obtain real estate residency and is it considered a way to obtain Turkish citizenship?
- Does inflation affect the payment of real estate installments in Turkey?
- How much do additional expenses cost while buying real estate in Turkey 2021?
- How much does an investor have to pay a real estate agent ?
- How can I facilitate the process of owning real estate in Turkey by 2021?
Real estate investment in Turkey 2021 .. Important questions and answers
How do I choose a reliable and quality real estate company?
It's no easy feat to purchase or sell a home, and it's one of your life's largest financial choices. This is why it is important to select a real estate agent with expertise to help you through the process.
There's no lack of real estate agents competing for the job through online advertisements, postcards and yard signs, but choosing the right one can feel daunting for too many professionals to choose from. To make sure you recruit the right pro, follow these guidelines about how to select a real estate agent:
- Visit the real estate company that you spoke to its consultants
- Get to know its team closely
- Ask about the title deed of the property
- Face-to-face dealing with the real estate company enables you to know how reliable it is
How do I avoid misinformation and inflated ads before choosing a property in Turkey?
To stop any fraud, deceit, bribery, or circumvention of laws or rights coming into the Turkish real estate market, here is a compilation of precious advice prepared by a group of legal experts and trustworthy real estate agents in Turkey.
Among the most important procedures that a person intending to buy a property must take to ensure the validity of the promotional advertisement or not:
- Visiting the property you want to buy to inspect it in its actual location, and thus actually verify the validity of the promotional advertisement's images by examining all corners of the property.
- Visiting the real estate website enables you to add some requests that you consider essential and include them in the sales contract's rights to conclude with the real estate company.
How do I check prices, construction materials and quality before buying a property in Turkey 2021?
In terms of price and construction materials and their quality, it is preferable to seek real estate experts. Here are some points related to the prices and quality of materials used in real estate as follows:
Real estate prices in Turkey 2021
Real estate prices in Turkey 2021 are closely related to the property's location. Real estate near the heart of the city will be more expensive than distant properties. For example, buying a property near the Bosphorus is more costly than a property in the Esenyurt area.
Real estate prices in Turkey 2021 also depend on the proximity to public transportation. For instance, the property located near the metro, or the Metrobus, has a high price compared to the real estate located far from the modern transportation network.
Real estate prices in Turkey 2021 also rise whenever they are close to vital facilities such as hospitals, schools, commercial centers, markets, malls, and universities.
The proximity to major facilities and vital areas also plays a role in determining the property price in Turkey.
The property's design, its modernity, the title deed's readiness, the payment of taxes, etc., are all factors that affect Turkey's price. So it is necessary to pay attention to all these matters before detailing or judging the property's cost to rise or fall.
- The building's quality is evident in the quality of the raw materials used in it, as it must comply with the earthquake regulation published in the Official Gazette No. 26511 on May 3, 2007, and the building permit corresponding to this date.
- You should focus on buying a property in Turkey whose building permit complies with earthquake regulations.
- To find a good construction, you have to ask the construction company about the materials and brands used in construction and finishing. Here Al-Huda Real Estate in Turkey advises being careful to know the type of ceramics used in wet floors, sound, moisture, and heat insulation, as well as wallpaper, in addition to bathroom and kitchen furniture and all the tools used.
- Make sure that the specifications of these materials are included in the sales contract.
What is the rental guarantee for real estate purchase offers in Turkey?
The "guaranteed rental income" scheme is one of the most common formulas for investors who wish to invest in real estate in Turkey. This formula is genuinely a carefree type of real estate investment in Turkey, with high returns promised.
Your investment in real estate in Turkey would, of course, yield a much better return if you can rent out the property in the meantime. Investing in real estate in Turkey will become even more interesting.
How can I differentiate between the different types of title deeds in Turkey?
The title deed is an essential document when buying real estate in Turkey 2021 divided into:
The agricultural title allows you to carry out various farming activities on the land you have purchased without building on it.
Construction deeds: In this sort of tabu deed, the key information on public property, without considering the information of the independent parts of the property, means that the property is registered as a single entity and is not split into separate sections, such as independent and barn houses, annexes, warehouses, factories and similar structures.
The title deed is also divided into:
An easement title, which gives you ownership, but not the final one, is granted to you when the property is under construction.
TAPU is the complete title deed of the property, through which you can guarantee full ownership of the property without any problems or concerns.
Use reliable real estate companies that make sure of all kinds of title deeds and put you in the actual picture before your property's legal status.
How do I obtain real estate residency and is it considered a way to obtain Turkish citizenship?
Once you own a property in Turkey, this automatically means that you have the right to obtain real estate residency, which is considered a natural right for the property owner and his family members.
The period of real estate residence in Turkey is determined by a renewable year.
But if you want to obtain Turkish citizenship through a property in Turkey directly, you must clarify this desire when buying, and the amount of the property must start from 250 thousand US dollars.
You can also buy more than one property to obtain Turkish citizenship, provided that the total amount is not less than 250 thousand US dollars, which is the amount that easily qualifies you to obtain Turkish citizenship through the purchase of the real estate in Turkey 2021.
Does inflation affect the payment of real estate installments in Turkey?
Buying real estate "cash" is considered the best option for real estate that is much cheaper than real estate bought in installments since the difference in inflation is added to the installments later.
In general, installment purchase contracts are subject to the difference in inflation, whether these contracts are with the real estate company, the bank, or any financial institution that agrees with the investor, the buyer directly.
Turkey's real estate market is the most growing in recent years, which positively affects the rise in the property's value day after day.
How much do additional expenses cost while buying real estate in Turkey 2021?
Additional expenses accompany any real estate purchase in Turkey. The title deed tax is equal to 4% and is paid equally between the construction company and the buyer.
The other expenses are related to the Lawyer Expenses, Property Tax (Emlak Vergisi), Property and Earthquake Insurance, Electricity and Water, Telephone and Internet and Maintenance Fee (Aidat).
How much does an investor have to pay a real estate agent ?
Contrary to what is expected, the commission rate is paid by the construction company to the real estate broker and not by the customer. The construction company pays the value of the promotion made by real estate agencies.
How can I facilitate the process of owning real estate in Turkey by 2021?
To facilitate the process of owning real estate in Turkey, you must carefully choose the city you want to buy and according to your purposes of purchase, residence, or investment.
Also, make sure of the profit margin you achieve from the property if the purpose of the purchase is an investment, and carefully study the prospects for the development of the region in terms of infrastructure, facilities, and future price increases.
Check the title deed carefully before buying a property in Turkey, and make the best use of your property, whether with your management or by taking advantage of the property management service provided by the various real estate companies in Istanbul.
CONTACT AL HUDA
For more information about real estate investment, please contact our consultants at Al Huda. We’ll give you all the information you need in a free online consultation.