Buying an apartment in Turkey is one of the common goals of many investors and foreigners around the world, and this has emerged clearly recently. If you take a look at the real estate market in Turkey, you will find it crowded with different nationalities.
Since the real estate sector in Turkey is a destination for many, questions have increased and varied on this subject, which prompted the editorial team at Right Way Real Estate to prepare this report for you, which will revolve around everything related to buying apartments in Turkey.
Why buy an apartment in Turkey?
In general, the demand for the real estate market in Turkey is increasing, especially in light of the many facilities provided by the Turkish government and also the number of foreigners is increasing and growing, led by holders of Iranian, then Iraqi, and then Russian nationalities, in addition to many other Arab and European nationalities.
Certainly, everyone is looking for a safe way to own a property in Turkey without facing any troubles or difficulties or real estate fraud.
In your opinion, why do many people buy an apartment in Turkey? The goal is one and the purposes are multiple. There are those who want to buy an apartment for housing and residence after witnessing the stability of the living situation in it and development at all levels, and others who want to enter the world of real estate investment in order to get a rewarding and stable financial return, especially as it is one of the tourist countries that receive millions of tourists every year.
According to statistics issued by the Turkish Statistics Department, 40% of those who buy and own real estate in Turkey want to get Turkish citizenship.
Steps for buying apartments in Turkey:
The first thing that you should look at when buying an apartment in Turkey is the steps that must be followed, and this is what we will talk about in detail through the following paragraph:
1 - Ask yourself about the reasons behind buying the apartment:
Ask yourself a question before you start looking for apartments for sale in Turkey (why do I want to buy an apartment in Turkey), then the answer will be according to the choice, and what you do not know is that setting the goal in advance avoids the problem of the wrong choice and puts you in front of the desire and goal that you intend to reach.
These are the most prominent goals of those who buy real estate in Turkey, usually from foreigners:
-Real Estate Investment.
-Residence and accommodation in a luxurious environment.
-Obtaining Turkish citizenship.
-Residence during tourist times.
2- Choose your real estate agent carefully:
You cannot go through the experience of buying an apartment in Turkey on your own without asking for help from a real estate consultant in Turkey, especially if this is your first experience as you will be unaware of many of the laws, information and regulations stipulated.
Your real estate agent will be like your real estate guide as it helps you make the right choice and directs your attention towards the distinguished choice that is appropriate for your goal and your financial balance, as it answers your various questions and inquiries.
What should be mentioned in this regard is that with the increase in the number of real estate agents and consultants in Turkey from different countries of the world, the number of real estate agents and consultants has increased. Therefore, you should know that agents are not distinguished by the same experience and knowledge, and therefore your choice of it will be according to specific rules:
-You have to visit the real estate company and see the services that are provided.
-Ask your agent a lot of questions that you would like to know the answer to and think of his response to you.
-Ask about the reputation of the real estate company, and it is preferable to ask someone who had previous experience with it.
-It should have a good reputation and a great deal of fame.
-Visit its social media platform as well as the website to see the best offers available.
The importance of using a real estate company when buying an apartment in Turkey is that it saves the buyer a lot of time, money and fatigue and avoids paying the money in the wrong place. In the case of any legal loophole, it can be easily discovered thanks to its legal and real estate team.
3-Visit the most important Turkish real estate projects:
Before choosing, you should ask the real estate company you deal with or the real estate agent to accompany you on field tours to visit the most important real estate projects available so that you have a broad perception of the available options on the one hand and on the other hand, in order to see the prices.
During your tour, you will have a lot of inquiries and questions that you can ask your agent to get adequate answers.
4- It is preferable to come to Turkey in person:
Although it is possible to buy real estate in Turkey from a distance, it is preferable to pack bags and attend in person, which is one of the correct ways to buy an apartment in Turkey, so everything will be in front of you on the ground. You will see the pros and cons, sign contracts, agree on the price and meet the seller.
If you are not able to attend in person, you can buy remotely, but under the condition of choosing a famous and reliable real estate agent, things will be done perfectly as if you are present.
5 - Study the apartment from all sides:
It is not enough to find in the apartment that you intend to buy some positive aspects that appeal to you to make the choice, but you must consider it from various aspects, as there may be some negative aspects that lead to harm or failure to achieve the desired goal.
6-Negotiate the price of the apartment:
Beware of paying the required apartment price directly if you can sit at the negotiating table to get a suitable price for you, and if your real estate agent is an expert, he will help you manage the conversation to reach what suits both parties.
The importance of buying an apartment in Turkey:
There are many reasons and motives that encourage a foreigner to buy an apartment in Turkey and not in other countries of the modern and developed world, and through the following paragraph, you can view it in detail:
-The political and security stability and economic development in which Turkey is distinguished.
-There are many real estate and investment projects in their various forms: ready for housing / under construction / in installments and others.
-Turkey has a privileged geographical location in the middle of the world and between three continents: Asia, Europe and Africa.
-The prices of apartments in Turkey are low compared to the prices of apartments in Europe or America.
-Also, real estate prices in Turkey are low compared to the prices that you will find in some Arab countries, especially the Arab Gulf countries.
-You can easily buy an apartment in Turkey with an attractive and distinctive view, it may be sea or green spaces.
-Turkey is surrounded by four seas, which has helped it to acquire a permanently temperate climate.
-Real estate in Turkey is a great way to invest in real estate and get high and abundant profits.
-What drives the investor to invest in real estate in Turkey is that its prices are constantly increasing, which guarantees him a high profit.
-A foreigner in Turkey will not find himself in front of limited options, but he can buy what he wants from real estate in Turkey.
-Different nationalities around the world can buy apartments in Turkey after the last law issued in 2012 AD, which stipulated the abolition of the principle of reciprocity, but with the exception of five nationalities, some old agreements and political and security conditions prevent them from buying an apartment in Turkey to this day.
-The emergence of many types of distinct apartments built in a modern and upscale architectural style.
Tips for owning apartments in Turkey:
No matter how easy you think it is, there must be a lot of advice that you need when buying an apartment in Turkey, and we will make sure to provide most of it to you in the following paragraph:
1 - Choose the apartment space carefully:
The first thing you should do is choosing the apartment space in a thoughtful way and certainly this will be according to your goal, for example if you want to live and stay with your family, you must choose the appropriate space with you, giving you a lot of privacy, comfort and independence, but if you aim for a profitable real estate investment, it is not preferable to choose spacious apartments because renting them will be difficult, as well as reselling them if you wish to do so in the future, which will not be easy.
While small apartments are in great demand because their rent is lower, and they are also suitable for those who live alone, such as students and workers.
2 - The distinctive look of the property:
When you are looking for apartments for sale in Turkey for real estate investment, you have to choose a distinctive view, such as the sea, the gardens, the forests, or the lake. This gives the apartment a high investment importance and also makes renting it very easy, especially during the tourist seasons.
3 - Find the most wanted apartment:
Do you want to invest in real estate in Turkey? Choose what people are looking for. In this regard, we mention that, according to what the Directorate of Real Estate Survey in Turkey said last year, apartments in residential complexes were the most sought after because they give their owner a life of luxury, comfort and isolation from the surrounding world.
You should know that the prices of apartments in residential complexes in Turkey are constantly increasing as a result of the nature of the high demand for them.
4 - Find an important geographic location:
The first real estate rule says that for the success of any real estate investment in the world, three elements must be adhered to: the location, then the location, then the location. The more distinguished it is, the higher the apartment price.
You may be wondering about the specifications of the property? It is to be close to tourist attractions / strategic projects, vital areas, markets and public transportation lines.
5- Check the legal status of the apartment:
The legal status of the apartment can be verified by returning to the Real Estate Registry Department. Among the most common problems that arise from real estate are (mortgage / seizure / inheritance problems / etc.), as for its negative effects, it affects its investment value on the one hand and makes it difficult to sell it in the future on the other side.
How is the apartment suitable for applying for Turkish citizenship?
-Its price must be at least 400 thousand US dollars.
-A commitment must be made not to sell it before the passing of three years.
- Has not previously been used to apply for citizenship.
-To be purchased from a Turkish side.
-Pay its value through a bank in Turkey.
-Extracting the real estate appraisal document.
Real estate residency when buying an apartment in Turkey:
When you buy an apartment in Turkey, you have achieved the first condition that must be met when applying for real estate residency in Turkey, which is that the apartment is intended for housing, but the buyer must fulfill the rest of the conditions, which are:
-Its price should not be less than 75,000 US dollars.
-It should not be located within a security or military zone.
-The buyer must ensure that the nationality he holds allows him to own real estate in Turkey.
Prices of apartments in Turkey:
In light of this huge urban transformation that Turkey is witnessing and the civilization that is represented in every aspect of it and the presence of huge real estate edifices, will real estate prices in Turkey be high and not suitable for all financial budgets?
Although real estate prices are constantly increasing, their prices compared to real estate prices in neighboring countries, especially European ones, are several stages higher.
In the event that the buyer does not have the ability to pay the full value of the property in cash, he can choose to pay in installments, and this option is available in abundance, as construction companies are building many huge projects to meet different tastes and achieve high sales rates.
One of the benefits of buying under-construction apartments is that their prices are cheaper than ready-made properties, and after the completion of the construction stages, their prices rise by a large percentage ranging between 35% and 70%, and therefore, when reselling them, a high return can be obtained.
Do not forget to follow our website constantly to find adequate answers to all your inquiries regarding the real estate sector in Turkey because we are keen to provide all the information you need through it.
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