|Date:||Thursday, November 11, 2021|
A foreigner has the right to buy an apartment in Turkey, i.e. (own real estate in Turkey) all over the country with… 0
Stages of buying a property in Turkey
A foreigner has the right to buy an apartment in Turkey (ie, own real estate in Turkey) in all parts of the country, except for areas near military gatherings and strategic locations such as oil and power stations, airports, sea ports, and others. He is also entitled to own more than one apartment, house or land with a maximum area of 30 hectares.
The Turkish government has simplified the process of buying real estate for foreigners as much as possible.
After fulfilling the buyer’s wishes and obtaining his final approval to purchase apartments in Turkey or real estate through a real estate company, the legal procedures are directly initiated. The process of buying a property comes as follows:
- Obtaining a tax number for the buyer from the relevant tax department.
- Opening an account in one of the banks that have agreements with Middle Eastern banks.
- Signing the contract between the seller and the buyer in the company’s office, and a lawyer can be appointed for those who wish.
- Attached to the primary contract is the title deed of the property, and it is in the name of the owner of the property in Turkey who signed the contract or his official representative, in addition to a copy of the project building permit, two personal photos of the buyer, a translated and certified copy of the buyer’s Turkish passport and a copy of the identity card of the seller of the property in Turkey Also, a part of the property value is paid as a deposit to reserve the property.
- After that, we carry out the procedures that take an average of 30-60 days to register the apartment, due to sending the documents to the security departments of the Turkish army to obtain the security approval.
- After the security approval is issued, a summons is made to go to the real estate ownership department and complete the property’s duly registration by the state employee and in the presence of a sworn translator to explain the terms of the contract.
- The title deed and the key are duly delivered in the presence of the real estate consultant, and the rest of the property value has been transferred or delivered in conjunction with the transfer of ownership of the property.
- In the case of buying a property in Turkey in installments, the buyer must, according to the initial purchase agreement, after booking the apartment, pay the first payment agreed upon with the construction company at the time specified under the contract, usually within two weeks from the date of signing the contract.
When paying the installments, the buyer must come within a short period to receive the title deed and the apartment key.
In cases where an apartment is purchased in a residential complex or an ordinary building, and the complex or building has obtained military approval in advance, the customer can receive the Tapu directly upon paying the value of the apartment, or when paying the last installment in the event of buying a property in Turkey in installments.
What is the mechanism by which the prices of apartments in Turkey are determined?
The most important point that determines the price of real estate in Turkey is the ability of this property to generate large profits and the speed of capital turnover, the more the house, office or store achieves greater profits, the greater its price. Turkey's residential real estate in the tourist areas in Turkey is relatively more valuable than the rest of Turkey's real estate, because the level of monthly returns is greater, and the longer the area sees a turnout of tourists, the more expensive the real estate prices.
Factors that determine the price of real estate in Turkey:
This criterion is considered relative and can negatively or positively affect the price of the property, meaning that the majority of those who are looking to buy real estate in Turkey avoid buying used properties, as it can be very worn out and need a major repair, and this leads to a decrease in the price of the property, but we do not lose hope in this type of real estate, as sometimes the price of these real estate rises after the repair more than the price at which you bought it before the repair.
The location of the property is the most important factor affecting the determination of real estate prices in Turkey, as the closer the property is to the city center, the higher its price, and vice versa, as real estate prices in Beylikduzu are very different from real estate in Taksim area, and also the facilities play an important role in determining the price of the property, as the property Which is located near transportation, hospitals and universities, its price differs from the price of real estate that lacks these details.
In Turkey in general, the larger the area of the property, the lower the unit price per square meter. If you want to buy by one square meter, the price per square meter in a one-room-and-salon apartment is more than the price per square meter in a 4-room-and-salon apartment.
The location of the property in the building or complex:
One of the most important factors affecting the price of the property is its location in the building or complex, as the price of the apartment on the first floor is very different from the price of the apartment on the last and higher floors.
The external appearance of the property in Turkey:
The external appearance is very important in determining the price of the property, especially in the famous areas and central areas such as the city center, where the price of properties that are located within luxurious buildings with modern designs such as glass facades is high, and properties that lack these details and finishes may not attract the attention of the investor, which leads to a lower price .
The most important tips when buying a property in Turkey:
The procedures for buying and selling real estate in Turkey depend on accuracy in implementation, and following a set of tips when buying a property based on real experiences on the ground, and government decisions related to controlling the buying and selling process aim to protect the rights of investors.
The type and location of the property plays an important role in the buying and selling procedures, so investors should pay attention to the following:
*- You must consult a real estate expert to get tips when buying a property:
Buying a real estate is an important and expensive matter, and it involves many risks, so the use of experts is the advice that we repeat with each step, as every real estate investor must consult with an expert, who provides him with investment advice that protects him from unfairness and deception, and helps him check all procedures, papers and legal documents, including He keeps his right.
Those who said: “There is no remorse from consulting, and the real estate must have an advisor.” The honest real estate expert advises you well. Make the most of the options, and guide you on the shortest legal way to complete your regular procedures, thus protecting the ownership of your property, preserving your money, and guaranteeing you, after God’s success, in your investment.
*- Ensure the availability of the real estate appraisal report:
Where the General Directorate of Land Registry and Real Estate Records, affiliated to the Ministry of Environment and Cities in the Republic of Turkey, issued a circular stressing the need for a real estate appraisal report to appear for every foreigner, as of the date of the decision.
*- Completing the ownership procedures in the title deed department exclusively:
The most prominent advice indicates the need for the process of buying and selling a property in Turkey through the Tapu Department, where any informal contracts or issued by a notary, mukhtar or other authorities are considered "insufficient", and do not prove that the ownership of the specified property has passed to the buyer.
*- You should ask about the real seller of the property:
Where it must be ensured that the real estate seller is the real owner of this property, by securing a copy of the property title deed and reviewing the Real Estate Department (Tabu Department) accordingly, and checking whether the information contained in the said deed matches the information recorded in the real estate records, and it is not verified This is only through the confirmation of the employees of the Real Estate Department (Tabu) exclusively. This golden advice is one of the most important tips an investor needs when buying a property.
*- Examination of the type of property title deed (Tabu):
In Turkey, the types of real estate title deeds used in the procedures for buying and selling real estate may be similar, for example, if the title deed is a temporary ownership instrument, as is the case in real estate under construction or whose construction has not yet begun, in this case it must be ensured that there are no obstacles That would impede the transfer of the right of temporary ownership of real estate to a permanent right of ownership after the completion of construction, such as the completion of construction and construction licenses for the real estate project, and other related licenses and permits.
*- Be sure of the type of real estate allocation: residential or commercial?
In the forefront of the advice you find for real estate investment in Turkey, to ascertain the type of property, it is necessary to ascertain the basic purpose of establishing the property in question, by reviewing the municipality or the Cadastral Survey Department, for example, if the property in question is a residential unit, it is seen that it falls within the scope of the units Is the property intended for the establishment of housing units, or is it intended for other matters?
*- Ensure that the real estate data registered in the bond matches the real estate:
Recent real estate advice from experts in the Turkish real estate sector emphasizes the need to verify that the sold property is the same property offered to the buyer, so the actual address must be reached by precisely locating the property, based on the real estate map approved by the Real Estate Survey Department.
*- You must check that there are no restrictions or reservation signs on the property:
Ensure that there are no restrictions on the property, which may reflect a negative impact on the property, or directly affect its price, depending on the type of signal or violation.
Ways to invest money
Investment conditions in Turkey
Who is the real estate advisor? What are the criteria for his selection?
Real estate investment opportunities in Turkey
The importance of investing in Turkey
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