Real estate in Turkey
Are you thinking of owning a property in Turkey?
Turkey is a real estate investment country, and a large number of investors seek to buy apartments in Turkey for several purposes such as residence, investment and tourism.
Economic growth in Turkey has increased in the past years, and the real estate market in Turkey has been classified as one of the truly profitable markets in recent years
Turkey is an attractive country for real estate investments, and it is a center for real estate investment and tourism, so many foreigners want to buy apartments and houses for sale in Turkey for various purposes such as tourism, residence and investment.
A foreigner has the right to buy an apartment in Turkey (i.e. owning real estate in Turkey) in all parts of the country with the exception of areas near military gatherings and strategic sites such as oil and energy 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.
Buying apartments in Turkey:
The Turkish government has simplified the process of buying real estate for foreigners as much as possible, but there are still some differences between the procedures of the Turks and foreign nationalities, namely:
time frame
When a Turkish person buys real estate in Turkey, payment and signing of title deeds takes two to three days. As for foreigners, the process usually takes place within approximately five days due to the transfer of funds from external accounts.
After-sales service for real estate in Turkey
When Turks buy a house, they prefer to complete the largest amount of the process by themselves, usually to save money and because of their knowledge of the system as well. Therefore, real estate agencies do not provide any service after handing over the title deed to Turkish citizens. As for foreigners, the situation is different, due to their lack of knowledge of the Turkish language, and their lack of experience or knowledge of how to conduct transactions after receiving the title deed, so their need for support and assistance from the real estate agent is necessary to complete their transactions through after-sales services for real estate in Turkey through their agent.
Stages of buying apartments in Turkey:
After fulfilling the buyer’s wishes and taking his final approval to buy apartments in Turkey or real estate through a real estate company, the legal procedures are immediately started, which are as follows:
Obtaining a tax number for the buyer from the concerned tax department.
Opening an account in a bank that has 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 wishing.
– Attached with the primary contract (title deed sheet) belonging to the property, and it is in the name of the property owner in Turkey who signed the contract or his representative officially, 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 seller’s identity card The property is in Turkey, and part of the property value is paid as a downpayment 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 security approval.
– After the security approval is issued, a summon is made to go to the real estate acquisition department and complete the property registration in the name of the state employee, 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 remaining value of the property has been transferred or delivered in conjunction with the transfer of ownership of the property.