Buying a property in Turkey

Learn about the steps and advantages of Buying a property in Turkey.

Buying a property in Turkey
07-03-2021
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Last update 25-12-2022
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Real estate in Turkeyhas become a strategic commodity recently, and the number of those wishing to experiment with real estate investment in Turkey has increased due to the features and components that are known about it that can guarantee the achievement of guaranteed returns and profits, but this eagerness to buy real estate in Turkey did not only include investors as many buy a property in Turkey because of their desire for stability and residence, not real estate investment in Turkey, and thus we find that the option to buy a home in Turkey has become at the top of the list of real estate sales in Turkey.

 

Why do people buy property in Turkey?

1. Real estate residence:

Buying a house in Turkey involves obtaining in return many advantages that go beyond just owning a property in Turkey, as this property authorizes its owner to obtain real estate residency in Turkey according to the laws, and according to this residency, the family of the new owner of this property obtains a residence in Turkey as well. Although it is a temporary residence, it can be renewed annually.

 

2. Obtaining Turkish citizenship:

Under the amendment that occurred in the year 2018 to the reciprocity law that was previously applied by Turkey, it became permissible for foreigners to own real estate in Turkey and through that it became possible for them to apply for Turkish citizenship, followed by obtaining a Turkish passport and enjoying all the advantages. The consequence of this and of course, obtaining Turkish citizenship through real estate investment in Turkey requires the fulfilment of a set of conditions that include buying a property worth two hundred and fifty thousand US dollars and that the new owner does not sell this property for at least three years. That this method is one of the easiest ways to obtain Turkish citizenship.

 

3. Investment returns:

The real estate investment sector in Turkey works jointly and interacts with the rest of the investment sectors in Turkey. Therefore, we find that the boom in the tourism sector in Turkey significantly contributes to the promotion and support of real estate investment in Turkey, which contributes to the consolidation of the idea of ​​real estate investment achieving returns and investment profits and This interconnectedness explains that many real estates in Turkey are employed to meet the needs of all tourists and arrivals to Turkey, such as renting during tourism seasons at very satisfactory prices.

 

4. Social environment in Turkey:

The high rates of real estate purchase in Turkey by Arab nationalities did not, in turn, come in vain, as the Arabs' preference to choose Turkey over others is due to the existence of great similarity between the social and cultural environment in Turkey and the derivation of many Turkish customs and traditions from the Arab countries themselves and This is as a result of geographical proximity and the intermingling of Arab and Turkish civilizations and cultures since ancient times, so many Arab residents find a familiar place in Turkey and preferable to others, which contributes to the high rates of real estate purchase in Turkey.

 

5. Real estate prices in Turkey:

Perhaps one of the most important reasons for the increase in real estate sales in Turkey is the low prices of real estate in Turkey compared to real estate prices in other neighbouring European countries, and in general, the cost of living in Turkey is acceptable and adaptable compared to Europe, although the luxury and elements are not less than those. Available in the competing continent.

 

Steps to buying a property in Turkey:

The completion of the purchase contract requires the presence of the buyer in person or the event that his attendance is not possible, an official power of attorney can be granted by him to whoever represents him, and the agency must be officially certified by a notary or in one of the Turkish embassies deployed abroad, followed by obtaining a tax number and Which is granted to every foreigner entering Turkish territory and is considered essential in completing any official transaction and obtaining it is easy from any tax department in Turkey, and a copy of the passport must be attached, translated into Turkish and also certified by a notary, and then a contract is registered Purchase at theReal Estate Registration Department to obtain a new title deed for the property.

As for the property ownership tax, which constitutes 4% of the value of the property price that is being sold, it must be paid by both the new property owner and the old owner equally upon registering the property.

 

Qualities that must be taken into account when buying a property in Turkey:

The location of the property: Many consider the location of the property to be the most important factor when making a purchase decision, as an attempt should be made to choose a suitable and vital location and pay attention to the state of construction in the area and the status of the tower or residential complex in which the property is located and is there anything near it that may need One comes from service centers such as hospitals, schools, and universities, as well as entertainment centers such as markets and public parks, as they are important factors that increase the value of the property.
Budget: It goes without saying that you have a clear direction and specific goals during the search for a property in Turkey, as your knowledge of what you want is half the way, and accordingly you must have a tight financial plan through which you will be able to buy the right property for you without rushing or exceeding your budget In order not to be in trouble in the future.

 

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