Property Turkey Buyer Guide
If you are looking to invest in real estate, you should find the best offer and the best location. Turkey is a strategic location to invest in especially it offers the Turkish citizenship.
There are many questions that cross the mind of a buyer such as:
- Why buy property in Turkey?
- Why invest in Turkey property?
- Is it safe to buy property in Turkey?
- Is Turkish property a good investment
- Is it a good time to buy property in Turkey?
There is a strategic plan that mainly depends on using a reliable real estate agent in Turkey with great experience and expertise in the Turkish real estate market.To answer these questions and enable the investor to know the correct information about Turkey property, we have written this article in cooperation with a group of real estate experts.Your complete guide to buying apartments for sale in Turkey
?Why buy property in Turkey
If you're wondering, "Why buy property in Turkey?" we've got a response for you. As a real estate agent and several years of experience, we have a thorough understanding of the real estate industry, from new developments, buying and selling process, best projects and best locations...
Turkey’s real estate market is becoming all the rage recently. It’s a field brimming with opportunities and overflowing with possibilities. But what are the factors behind the success of the market? And most importantly, why should you consider investing in Turkey?
Affordable Prices on the Rise
Turkey’s late entrance to the international market has allowed its price to be drastically affordable. In comparison to competing destinations with the same benefits, Turkey’s market is significantly more affordable. But owing to the monumental attention Turkey’s real estate market is receiving, prices are projected to skyrocket in the near future. Providing in turn, a short-term success with a satisfactory profit margin.
Secure and Sturdy
Stability is the number 1 reason behind the surge of foreign interest in Turkish real estate. Despite the oscillating of the global economy due to recent health issues & despite Turkey’s own ups and downs; the market performance is consistent. It gives you as an investor the security of carrying out your investment goals with no imminent threats.
When it comes to Turkey, prices are never an indicator of quality. With the affordable costs in Turkey, you can invest in luxurious projects with the highest quality. Many of Turkey’s construction companies are international award winners.
Known best for architectural innovation and avant-gardedesigns; Turkey’s real estate landscape is a breath taking-variety of modern and deluxe projects.
Turkey is gaining widespread popularity as an address for sophistication and comfort; a feature which its real estate reigns on.
Citizenship by Investment Program
Turkey’s citizenship by investment program is the jewel to the crown. Ranked 39th in the world, Turkey’s passport is an attraction for many foreigners. While most of the applicants for the program come from the Middle East, American and Europeans are also in on the trend.
Aside from having a powerful passport, Turkey’s citizenship program is fairly easy to meet. The requirements aren’t challenging, from buying property for $250K to the absence of stay requirements. All in all, Turkey’s citizenship program is convenience.
Granting Mortgages to Foreigners
Uncommon as it is, some foreigners can’t afford real estate in Turkey despite the low prices. In which case, Turkey’s facilities come in clutch making it one of the few countries that grant mortgages to foreigners.
Turkish banks can give you a mortgage covering up to 70% of the payment. But you must note that how much you can get depends entirely on your profile. Information such as your spending habits, income, and so on can influence the decision.
?How to Buy a property in Turkey
To avoid turning a blessing into a nightmare, you must know the right way to buy property in Turkey. Our real estate consultants have put out a list of the most important aspects to consider. It’s best if you follow the tips in order to achieve the most satisfying experience.
Define your Goals
Before venturing on to browse your options, ask yourself what you want the property for? Is it for investment? For citizenship? Or for residence? What type of neighborhood are you interested in?
These are the top 3 reasons internationals invest in property in Turkey. But if you don’t define your goals and instead begin exploring your options, you may lose your purpose. Especially in a market where many options are appealing, it’s hard to sway off your path with no anchor. Detailing your interests and objectives will give you tunnel vision throughout the process. And likewise, you’re less likely to be disappointed by an overpriced purchase that doesn’t meet your standards.
Partner with a Reliable Agent
Long gone are the days where buying property solo was seen as a smart move. Contrary to past trends, many property buyers are partnering with a real estate agency for a successful purchase. Do your research so you only work with a reliable agent with a good reputation.
Agents help you explore your options in a tailored-to-you manner. You tell us your goals and we work according to them. If we find that your options aren’t matching your goals, we’ll redirect your options.
But most importantly, real estate agents are back in trend because they oversee your purchase. Our experts at Property Pluss will monitor your buying process ensuring it’s all legal.
We’ll also help you in your post-purchase process as you settle. And in case you’d like to travel abroad, we’ll manage your property in Turkey during your absence. Many of the services we provide are centered around your comfort.
Coming to Turkey
After finding the right real estate agency in Turkey, it’s time to arrive in the country. Upon your arrival, you’ll resume work based on the online consultation you had beforehand. We offer VIP services at Property Plus thatwill make your arrival in Turkey a breeze. From hotel reception to private transport, accommodation, and professional Interpretation.
After looking through videos and pictures of projects; select the projects that best suit your preference. At Property Pluss we coordinate a property touring plan in a time-efficient manner moving across neighboring districts.
We provide a deluxe private car to transport you around the projects. You will be accompanied by agents who will negotiate for your interests. They’ll also let you know whether a property is overpriced or underpriced, and in general, give you transparent information:
If you’re buying a second-hand property, you may need to run an inspection to identify all the flaws. Our team at Property Pluss will help you find professional services to easily and reliably complete the process. We’ll inform you if the property is worth buying. Noting again that inspection is only necessary for second-hand property. New projects don’t require inspection.
Closing the Purchase
Here you’ll need to do all the legal paperwork for the purchase. At Property Pluss we provide top-tier lawyers to handle your closing process. We’ll ensure your title deed is legal, your documents are proper, and that the contract includes all the important points. Generally, the buying process may take anywhere between 3 to 4 weeks to finish.
Our experts will also overlook your payment process. Explaining the down payment and defining installment options.
Registering your Title Deed
To conclude your purchase for good, you’ll have to register your title deed at the local tax office. At Property Pluss, our experts will help you perform this process. Throughout your buying process, you’ll always have an interpreter by your side. Similarly with registering your title deed.
Opening a Bank Account & Connection Fees
As a property owner in Turkey, you will have to open a bank account. To do this you need to first obtain a tax number, but you don’t need to worry about this because our experts will handle this for you.
Next, you’ll need to pay a one-time utility deposit that’s refundable for gas, electricity, and water. Again, our experts will overlook this process and guide you until completion.
If you’re buying an old building, you will need to get earthquake insurance. Newer buildings are all developed to be earthquake resistant so this insurance isn’t necessary.
More Tips for Investing in Turkish Real Estate
Call us today to meet with a local sales agent to schedule a viewing or for more information and guidance on accessing Turkey's real estate market.
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
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