|Date:||Tuesday, February 8, 2022|
Many foreign investors prefer to buy real estate in Turkey for many reasons, including.
9 important steps to buy a property in Turkey
Many foreign investors prefer to buy real estate in Turkey for many reasons, including the prosperity and diversity of the Turkish economy and its dependence on a strong and developed infrastructure.
Investing in Turkey is one of the best investment solutions, according to what the American live and invest website published about the best places to buy real estate in the world, as Turkey preceded Los Angeles, Rome, and other important tourist cities, and Istanbul is considered the most important city in Turkey in terms of the real estate investment market, and that Because real estate in Turkey is reasonably priced, suitable for all budgets, and is much cheaper than real estate in any other country in Europe and the Middle East; With European quality comparable to the latest countries.
Below we will guide you to buy a property in Turkey through 9 steps
1. Determine the purpose of buying the apartment
The step of determining the goal of buying an apartment in Turkey by the person wishing to buy is the most important step of the successful purchase process, as it results in a focus on real estate that suits the goal and reduces the search space
There are a lot of properties for sale in Turkey, but we advise you to do a comprehensive search of your own for the area that meets your desires and needs and according to the budget available with you.
Talk to a real estate agent
The real estate agent can provide you with free real estate advice and present you with many options to choose what suits you. FCC property Company provides a series of real estate advice constantly, through its website and communication networks, in addition to the ease of communication with us, and seeking advice in all real estate affairs on the land Turkish, through a specialized real estate consultancy team.
3- Make a preview of the place to be purchased with the real estate agent
This step will help you a lot in searching for your property and we can help you choose in terms of clarifying the features of each property for you.
4- Pay attention to the age of the building before buying the property
It is preferable to buy a new property, and if the budget does not allow, it is recommended to buy a property whose construction age does not exceed five years due to the change in the policy of modern earthquake-resistant construction, which was not applied before.
5- Check the location of the property and its proximity to public services
Whether you are thinking of buying a property for housing or investment, you must choose a location close to public services, transportation, schools, and malls, and stay away from industrial facilities due to noise and air pollution.
6- Make sure of the documents required to make the purchase of the property
You must study the papers of the apartment before buying and make sure that there is no real estate loan on the previous owner, and FCC property Company will assist you through the legal advisor in the company to secure all papers and carry out the real estate detection process and take all necessary procedures.
7- The presence of the property buyer or his representative
After making sure that you have chosen the right property for you, you can come to sign the purchase contract, or someone who represents him can attend an official agency certified by the Notary Public or at one of the Turkish embassies abroad.
8- Verify that all procedures on the property have been completed
After signing the contracts, be sure to carry out all registration procedures, including the bond, municipality, and security approvals to ensure that the property has been registered in your name. It is worth noting that the two parties to the purchase must pay the property ownership tax in Turkey, which amounts to 4% of the price of the registered property, and is paid equally between the seller and the buyer. .
9- Receipt of the title deed TABU
The last step to complete the purchase process in Turkey is to register your title deed, prove it in your name, and receive it.
Documents required when buying a property in Turkey
In order to own a house in Turkey, the owner or authorized representative of the property they wish to purchase must apply to the Land Registry Directorate.
Initial applications are submitted in the morning at the Land Registry Directorate by receiving the waiting list number.
The documents required to realize real estate sales to foreign nationals are as follows:
- Address of the property or village / neighborhood, island, plot, building, independent department information
- Identity document or passport with translation if necessary
- Obtaining a “fair value certificate for real estate” from the competent municipality.
- Compulsory earthquake insurance policy for buildings such as homes and workplaces
- Two photos of the buyer and the seller of the seller in the last 6 months (size 6 x 4).
- Residence permits issued by the relevant police departments to foreign nationals whose purchases are subject to residence permits.
Foreigners’ criteria and priorities in the process of buying a property:
The Overseas Real Estate Promotion Association (GİGDER), a fieldwork by market research firm AGS Global conducted with a group of 410 international investors from 48 countries in 12 cities of Turkey, in 8 languages, titled 'Competition and Inspiration: Exporting the Future of Foreign Real Estate Investments in Turkey' Turkey.” The criteria and percentages according to this study were as follows:
One of the most important factors affecting the purchase process, where it came at the forefront of the priorities of 63.4% of investors.
The site was ranked second with 58.3% of investors.
The view came in third place with 36% of the investors
The return on investment was 28.8% from the investors.
Building features and characteristics came last, with the lowest percentage, according to the study, and the priority of investors when buying, by 21.2%.
Are you looking for apartments for sale in Istanbul? Do you want to live in an upscale and lively area?
We at FCC property Investment Group provide you with the best real estate opportunities within our projects spread throughout Istanbul.
Contact our advisory team to start your first step towards owning real estate and obtaining Turkish citizenship.
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