How do you buy properties in Turkey?
Real Estate Blog

How do you buy properties in Turkey?

Created: 2023-09-28 Modified: 2024-07-10 Views: 1006 Luxury Signature Admin
Font Size :

Certainly, Turkey is one of the best destinations in the world for foreign residents. It offers a competitive economy that attracts investors, low living costs, and stunning natural views, setting Turkey apart from other countries. Once you understand this process, you will easily, quickly, and safely realize how to buy real estate in Turkey.

 

Before you decide to buy a property in Turkey, several essential points should be considered. These points include:

  1. When you decide to buy a property in Turkey, you should consider some preferences related to location. If you're looking for a holiday home, it's important for the property to be close to the beaches. If you have children and are looking for permanent residence, you might prefer having schools in the area. Determining the purpose of the purchase is the first step in the property-buying process. This will help clarify other criteria, such as the right location and property features. For instance, if your aim is real estate investment, you might look for properties with high investment potential. If it's for a holiday home, different features may be required.
  2. When setting your expectations for properties in Turkey, your budget should be taken into consideration. The Turkish real estate market provides a wide and varied range of options to fit your budget. Additionally, banks and construction companies offer easy payment options to facilitate the process. It's worth noting that besides the property's price, you'll encounter additional costs like title deed transfer tax. Therefore, it's essential to have a clear understanding of the total associated costs before making a final decision.
  3. In this section, you should determine the additional features required in the property. Do you need a private garden or a swimming pool? Would you prefer the property to be in a large residential complex offering various social amenities, or do you prefer living in a standalone, comprehensive house?

 

Dealing with a Professional Real Estate Company

A skilled and professional real estate agent can make the difference between a smooth, easy property-buying process and a lengthy, exhausting one. Your real estate agent should have extensive experience in the local property market and guide you through finding the right property based on your preferences. Additionally, the agent should be familiar with all the legal procedures that might arise during the process to ensure it's fully facilitated. Our company guarantees you a property purchase with all investment features, and legal follow-up, and ensures acquiring Turkish citizenship.

 

Organizing a Viewing Tour to Inspect and Choose the Right Property

After discussing your needs and preferences with your real estate agent, the next step is to view properties that match what you're looking for. During this phase, you're likely to have many questions. Don't hesitate to ask them. You can also take notes on important features that meet your needs and take pictures for later reference. If you're torn between two specific options, you can always consult your expert real estate agent to benefit from their local knowledge and get appropriate advice.

 

Fulfilling Requirements and Preparing the Sales Contract

After choosing the suitable property, the seller and buyer finalize details and prepare the sales contract, which includes crucial information like delivery date, transfer date, payment schedule, and any down payments if applicable. This procedure aims to ensure a smooth and hassle-free transaction process, not just to get the property at the best possible price.

 

Completing the Payment Process and Transferring the Title Deed

In the final stage, there's usually a waiting period of 2-3 days for buyers to transfer their funds from their country. To expedite this process, ensure you obtain a tax identification number using your passport and open a bank account in Turkey before starting the procedure. Once the funds are transferred to the seller's account, both parties can apply to complete the title deed transfer process. During the property registry procedures, you'll need the services of a sworn translator to translate your documents into Turkish. After signing the title deed, you'll officially become a property owner in Turkey. Connecting utilities is much easier compared to many other European countries, allowing you to get water, electricity, internet, and natural gas subscriptions within a few days. You can now enjoy the rest of your life and fully benefit from your real estate ownership in Turkey.



Frequently asked questions

Can foreigners buy property in Turkey?

Yes, foreigners can buy property in Turkey provided there are no security or military restrictions that exclude certain areas from foreign ownership.

What are the taxes associated with purchasing property in Turkey?

The taxes associated with purchasing property in Turkey include the title deed fee, which is 4% of the property's value, and service and utility fees such as electricity and water.

Can I obtain residency by purchasing property in Turkey?

Yes, foreigners can obtain a residence permit by purchasing property in Turkey. The residence permit is valid for one year and can be renewed.

ls contact us en