How to convert commercial real estate in Turkey to residential

How to convert commercial real estate in Turkey to residential

How to convert commercial real estate in Turkey to residential
24-05-2021
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Last update 24-12-2022
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Steps to convert commercial real estate in Turkey into residential real estate:

Some real estate owners in Turkey may need to change the type of real estate registry that belongs to their property, and this process is often performed by those who wish to convert commercial properties such as shops into apartments in Turkey, and fortunately, this conversion process is possible. It usually proceeds, but despite this, the property owner in Turkey must pay sufficient attention to a set of matters and steps that may be ignored or missed, which means that they may encounter problems in the future.

Any investor who owns a property in Turkey can change the type of real estate registry if he wants to convert his property from commercial property to residential property in case he needs it, and the problem in this process is that it may require a long time because the first step needs The owner of the property in Turkey to complete it before starting the process of transferring the real estate registry is to persuade all the real estate owners that are in the building to which his property belongs, but if the owner succeeds in completing this difficult step, he is considered practically successful in achieving his goal completely because The next steps that include a set of formal procedures in state departments that do not take a long period of time on the one hand and are considered easy and guaranteed approval on the other hand, as the most important condition that the municipality stipulates on the owner of the property in Turkey is obtaining in the first stage of the transfer process The real estate registry upon the consent of the residents or neighbors in the building in order for it to then be able to start the series of formal procedures necessary to convert commercial real estate in Turkey into residential real estate, and then he must complete all the papers Pay and submit the necessary official documents in order to initiate the process of transferring the type of land registry.

 

The official documents required for the process of changing the type of land registry:

As we have already mentioned, the process of transferring the type of real estate registry is possible when it comes to real estate in Turkey, and the second step in this process is the completion of the legal procedures in the municipality, and the completion of these procedures requires the submission of a set of official papers and documents that are considered necessary from To obtain the municipality's approval to change the real estate registry, and if the real estate owner in Turkey wants to convert the commercial property that he owns into a residential property, he must submit the following official documents, which are the title deed of the property who wishes to change the type of his real estate registry and that from To verify his ownership and belonging to the owner who applies, he must provide a copy of the personal identity belonging to him as the owner of the property to verify his identity. Therefore, this personal identity must include a picture of the person to whom you belong and who is supposed to be in This case is the official property owner, and the papers file must include several written permits that the owner must collect from several places, which are a permit from the municipality and a permit from the state within which the property is located in Turkey, in order to be able to To prove that there is no obstacle standing in the way of the process of transferring the type of real estate registry, and a personal bull must be presented to the owner of the property, or if there is another person on his behalf, he must provide personal photos of him because he is the alternative, and he must also present the official agency that he carries To prove his power of attorney on behalf of the owner, this agency must be officially certified by the notary or the notary, otherwise it is considered invalid and this person will not be allowed to complete the procedures of transferring the type of real estate registry.

 

The reasons that may push real estate owners in Turkey to convert commercial real estate into residential:

The owner of the property in Turkey may need to do the process of converting the commercial real estate that he owns into a residential property for several reasons, including that investing in commercial real estate is more difficult compared to investing in residential real estate because residential real estate is required more and more frequently, so most people prefer to buy the house that They will reside in it while the situation is different when it comes to opening a business in a commercial real estate as most people start their business with limited capital, so they work to reduce expenses to the maximum extent possible and the first solution they resort to is to rent a commercial property such as an office or shop instead, Therefore, the demand for purchasing commercial property is generally low.

And that many investors are afraid of a decrease in the prices of commercial real estate or the lack of opportunities to invest them in the event of an economic crisis, as this means closing projects and shops, and consequently the absence of commercial properties from tenants due to a sudden halt in commercial business, which means an investment loss for the owner. Real estate while the residential property remains required for rent because people always need a place to stay even if a financial crisis strikes them.

 

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