Conditions for buying an apartment in Turkey
Conditions to be met in order to buy an apartment in Turkey
The issue of buying an apartment in Turkey has become a common issue among all investors who have an interest in the field or real estate sector in Turkey, so we found in Skyline Real Estate an urgent need to address this issue in an article we prepared for you, in which we will discuss the most important thing related to real estate ownership in Turkey and we will also point out the most prominent advantages that push foreigners to buy it.
We wish you a useful reading.
Take a look at the conditions for buying an apartment in Turkey:
If you are interested in buying real estate and apartments in Turkey, you must know all the laws and rules stipulated by Turkish law regarding foreign ownership in this country. Through the following paragraph, we will inform you of the most prominent and important of these conditions.
1 - Turkish law is one of the most flexible laws in the world, and after the Turkish government issued a law abolishing reciprocity in 2012, any foreigner around the world can buy real estate in Turkey with the exception of only five nationalities.
2 - (Armenia - Cuba - North Korea - Greek Cyprus - Syria) These nationalities are prohibited from buying real estate in Turkey, do you carry one of them? Those of these nationalities have been prevented from buying real estate in Turkey for political reasons and old agreements.
3 - A foreigner cannot buy an apartment located within an area bearing a security or military character.
4 - Foreigners are not entitled to own more than thirty hectares in various parts of Turkey, and they are not entitled to exceed this area.
5 - In the event that foreigners’ real estate property in a particular village or area exceeds 10% of its area, the Land Registry Directorate shall issue a decision to stop granting licenses.
Documents required to buy an apartment in Turkey:
One of the steps that you must take when owning real estate in Turkey is to familiarize yourself with the papers and documents that you must prepare.
- The title deed of the property that contains the most prominent and important information related to it.
- The buyer's passport + a copy of it, and it must be translated into the Turkish language and certified by the notary.
- The real estate appraisal report that accurately determines the value of the property (issued within three days).
- Earthquake insurance policy (protecting the rights of the foreigner in the event of any natural disaster).
- Personal photos of both the buyer and the seller.
- In order to complete the process of buying real estate in Turkey, two witnesses must be brought.
- In the event that the buyer does not know the Turkish language well, he must bring an official translator.
It should be noted here that in the event that the buyer is unable to attend in person to sign the contract and has authorized his representative, the agency document must be brought. (You must bring a copy of it, translated and certified).
Financial source when owning an apartment in Turkey:
When you decide to buy a property in Turkey, one of the points or details that must be seriously considered is the financial source that you will rely on, or in other words, the price of the apartment. You have to know that you have three options to look at.
1 - Money you saved earlier:
The main financial source that you can rely on is what you save. Study your budget well. Do you have enough money to pay in cash?
2 - Taking a loan from a bank:
If you do not have enough money to pay the price of the property, you can take a loan from a bank in Turkey, and then the buyer pays the amount to the bank in the form of successive payments to be agreed upon and on the date of payment.
3 - Buying an apartment in installments:
If you do not have enough money to pay directly and do not want to buy it using a bank in Turkey, you can buy an apartment by dealing with a construction company and paying in installments.
You may be wondering about the possibility of finding apartments for sale in Turkey in installments, is this possible? As a result of the great desire of foreigners to buy and own real estate in Turkey in light of all the facilities provided by the Turkish government and the privileges that will accrue to them, many construction companies are working to increase the number of their projects and offer offers and high discounts.
After we reviewed together the three forms of buying apartments, in your opinion, which is the best? The wise buyer is the one who chooses the method that avoids falling into the problem of how to pay later, which may be a real problem sometimes. If you study the matter well, you will find that personal finance is the best, but this does not negate the importance of resorting to installment offers in some cases.
When do I resort to buying an apartment in installments? This is what you will certainly ask yourself. In this context, you should know that it will be your best option if you do not have enough money or if you need your capital to use in a business or other field.
Pay attention to these points when buying apartments in Turkey:
There is no doubt that real estate ownership in Turkey is completely safe, and this is what made it an important destination and surpassed many countries in the world, but there are some observations that must be taken into account.
1 - It is possible that there will be some restrictions resulting from the apartment, such as mortgage or seizure and the like. Do not forget that it is one of the big problems because it:
- hinders the completion of the sale.
- Makes it difficult to sell if you want to in the future.
- Negatively affect the value of the property.
- You cannot discover this on your own if it is not mentioned in the title deed.
- It is necessary to return to the Directorate of Land Registry to confirm this matter.
2 - You need a real estate expert to accompany you when buying real estate in Turkey or a reliable real estate company, but beware of dealing with an entity that is not sufficiently experienced in this field.
3 - Find out about the prevailing forms of real estate fraud to ensure that you will not be a victim of this matter (with the increasing demand for real estate in Turkey by foreigners, some weak-minded people took advantage of their inexperience in this field to obtain money illegally).
4 - If you choose to buy an apartment under construction, make sure that you record all the terms agreed upon in the contract, and most importantly, make sure that you are able to make the payments on time without delay.
5 - Make sure to complete all the procedures within the Tapu Department (any thing you do outside it is considered unofficial).
6 - Verify the identity of the real owner of the property and the extent of his ability to dispose of the property.
Why choose real estate ownership in Turkey?
When you buy real estate in this country, trust that you will get a lot of advantages in brief, which we will present to you through the following paragraph:
- You will get real estate residency.
- Turkish citizenship (if the value of the apartment is two hundred and fifty thousand US dollars or more).
- An opportunity to enter the real estate investment world.
- Stability and housing in a safe and integrated environment such as the Turkish state.
- Receive education in Turkish universities and schools and benefit from high-quality medical services.
- Real estate prices are moderate and relatively low compared to real estate prices in European countries.
If you are seeking to buy an apartment in Turkey according to the stipulated conditions and in order not to fall into the problem of the wrong choice, all you have to do is contact Skyline Real Estate, where we will help you in the appropriate choice and inform you about everything related to real estate ownership in Turkey and all new developments in this field. Skyline Real Estate is always with you.