The precious goals behind buying real estate in Turkey are a goal for every investor who decided to go through the real estate investment experience on Turkish lands, whether he is a local or international investor, and in order to reach this goal it is necessary to go through the following stages:
Conditions behind the successful purchase of real estate in Turkey
Success in any field has certain foundations, standards and conditions, as well as the success of the issue of buying real estate in Turkey in order to achieve the profitable investment goal requires the following conditions:
1. An investor wishing to invest in real estate in a particular project must inform the relevant ministry of the type of project, whether it is agricultural, industrial, educational or commercial.
2. Taking into account bilateral trade agreements as well as international standards for real estate investment, especially that Turkey is always striving to improve the investment environment on its territory.
3. Reviewing the real estate registry to provide the investor with all the necessary information about the property before signing any contracts of a legal nature.
4. It is very important when buying real estate in Turkey, as soon as the investor makes sure that the property is not mortgaged or subject to certain procedures that prevent its sale and thus impede the investment process.
5. Choosing the real estate area is an important and basic condition in the process of buying real estate in Turkey. The property must not be in military areas or affiliated with security areas, due to the existence of a law that prevents the sale of such real estate to foreigners.
6. The Turkish government has determined the area of the property included in the real estate investment, and its area should not exceed thirty hectares, in all Turkish regions.
7. The future of real estate investment in Turkey must make sure of the technical condition of the property if it is old and in need of many maintenance operations or if it is in good condition.
8. There is an important step to take into account, if you want to buy real estate in Turkey, you should look for the right real estate agent.
Some important steps for buying real estate in Turkey
There are many steps that must be followed to reach the precious goals behind buying real estate in Turkey, we will get to know them together:
1- Determine the purpose of buying real estate in Turkey:
This step helps you a lot in choosing the right property and investing your money in the right way, Do you want to buy a property in order to obtain a real estate residence? Or in order to obtain Turkish citizenship? Or in order to rent it or resell it and take advantage of the price differences as a profit margin and other important investment options.
2 - Choosing the right real estate broker:
The real estate broker is one of the real estate companies known for its authenticity and integrity to deal with, which provides you with many services from the moment you arrive in Turkey until buying the property and registering it in your name, then enabling you to obtain real estate advice from experts and specialists in the field of real estate in Turkey, there are also a number of lawyers who follow all legal procedures and are keen to preserve your rights and ensure that you are not subjected to embezzlement or deception.
3 - Inspect the property you have chosen for real estate investment in Turkey:
Do not rely on the real estate broker, even if he is honest, and do not be satisfied with the specifications mentioned on the websites, but be very careful to visit the real estate site to ensure that all the specifications agreed upon between you and the owner are available, thus guaranteeing your rights and protecting your money from waste.
4 - Negotiating the price of the property:
It is necessary to continue to search for the most appropriate price for the property in line with your financial capabilities as well as the specifications of the property, which means that you resort to negotiating the price of the property and the terms of sale. This step occurs once you choose the property and most expatriates will use a real estate agent if they are not familiar with the area and at this stage your lawyer will examine the ownership papers and look at the required documents and proofs.
5 - Obtaining a tax number for the buyer from the relevant tax department:
One of the important things that the process of buying a property without it is not right is to extract the tax number from the real estate department, and this number is given to every person who does not hold Turkish citizenship in order to facilitate all government procedures for him, and without it he cannot own real estate in Turkey or apply for a Turkish citizenship.
6 - Opening an account in one of the banks that have agreements with Middle Eastern banks:
As it is necessary to open a bank account in a Turkish bank in order to transfer funds to it from the buyer's country of origin, as it is required that the purchase be made through banks exclusively.
7 - Signing the contract:
After doing all the previous steps, the most important step comes, which is to sign the purchase contract between the buyer and the real estate company. This contract is drawn up in both Turkish and the buyer’s native language, and then a deposit of 5 to 10 percent of the property value is paid to the real estate company, and that is In return for the seizure of the property pending the issuance of the title deed, i.e. the Tapu.
8 - Completion of some important identification documents:
Such as the title deed of the property and is in the name of the owner who signed the contract or his official representative, 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 passport and a copy of the seller’s identity card. Part of the value of the property is paid as a deposit for the reservation of the property.
9 - Waiting for the procedures that take approximately two months to register the property, due to sending the documents to the affiliated security departments to obtain the security approval.
10 - The title deed and the key are duly delivered after signing the contract in the presence of the real estate consultant from the real estate company if it is the mediator, and the rest of the property value has been transferred or delivered.
Learn about the valuable goals behind buying real estate in Turkey
They are valuable goals in every sense of the word, and increase the desire and demand to invest money in buying real estate in Turkey, so what are these goals?
High return on investment in the real estate sector
The return on investment is defined as the ratio of the profit earned by the investor to the total cost after excluding all the costs associated with the investment process. These costs directly affect the calculation of the rate of return, as they include the costs of maintenance, repair, rehabilitation, modern designs, all additions and accessories, in addition to a very important aspect, which is whether the purchase is financed directly or indirectly through loans after calculating the interest rate.
In light of all the fluctuations that any economy in the world is exposed to, real estate investment, especially in Turkey, remains fast recovering and reaps huge profits for investors in this sector, regardless of the type of investment in the commercial or residential field. You can easily notice the huge volume of real estate sales and purchases, as well as the large number of economic, commercial and residential projects in Turkey with the availability of appropriate conditions, from infrastructure to the transportation network, to the various geographical locations in the heart of the city or in the suburbs, depending on the type of project these projects are being implemented by huge, reputable and internationally known companies.
The impact of the real estate sector in Turkey on the Turkish economy as a whole, as it has become one of the profitable economic sectors that provide the state treasury with huge amounts annually, because the growth of the real estate sector in Turkey means the growth of the tourism sector and increased profits that ultimately flow into the Turkish state treasury.
The increase in the purchase of real estate in Turkey will be reflected in the development of the industrial sector to secure production requirements and the emergence of industrial companies, engineering construction companies and real estate companies to plan and implement economic projects.
The development of the real estate purchase sector in Turkey means creating job opportunities and increasing income rates, thus increasing spending and consumption rates and the development of the economic movement in the country.
In this article, we have tried to list the most valuable goals behind buying real estate in Turkey at the level of individuals, the state and the national economy, which makes real estate investment in it one of the leading, growing and prosperous sectors.
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