After the great activity that the Turkish market witnessed in the past few years in various fields and the superiority of the real estate sector over others, and Turkey in general and Istanbul in particular becoming a center of attraction for foreign investors from around the world, many foreigners resorted to buying their real estate in Turkey and entering the real estate world in Turkey.
If you made the decision to buy a property in Turkey, then you need to know a lot about important real estate information to ensure the success of the real estate investment process in Turkey, so we decided to provide real estate information related to legal real estate ownership in Turkey, and the goal is to educate Turkish property buyers with important details they may be ignorant of.
Let's start with some real estate inquiries related to buying real estate and apartments in Turkey
Is buying a property in Turkey (owning in Turkey) a lifetime ownership?
Certainly, ownership in Turkey is lifelong ownership, and foreigners have the right to inherit the Turkish real estate that they purchased for their families and to register the heirs' file in the housing department in the city in which the property is located.
One of the steps or procedures for ownership in Turkey is going to the tax department concerned with buying a property in Turkey and obtaining a tax number for the buyer after that opening an account for the property buyer in a bank that has agreements with Middle Eastern banks, and the conclusion of a contract between the seller of the property in Turkey and the buyer of the property with or without a lawyer in the company’s office.
The title deed sheet for the property must be attached to the initial contract signed by the signer on the contract or his representative, in addition to a copy of the building permit, two personal photos of the buyer, a copy of the buyer's passport certified and translated into Turkish and a copy of the seller’s ID card.
Then the buyer pays part of the property's value in order to reserve the property, and it takes two days to register the apartment in Turkey. As for registering the property, it will be done by an employee from the state and a sworn translator to answer the property buyer's inquiries.
Notice: There are types of title deeds in Turkey: agricultural title deed - residential title deed - building deed - floor easement bond, and we will now explain in detail about the agricultural and residential title deeds.
Are there real estate taxes in Turkey incurred when buying real estate and apartments in Turkey?
Yes, and it is specific cash amounts, proportional to the type and price of the property in Turkey, to be paid by the buyer or investor in exchange for obtaining ownership of this property, transferring its ownership, or in exchange for various services, and these taxes may be monthly or annual, and some of them are one-time or recurring payments.
Is it possible to buy a property in Turkey by financing an Islamic bank?
Certainly, the financing of Islamic banks can be used to buy real estate in Turkey, after the bank in your country accepts the purchase of the property and then transfers the payments to the owner in Turkey.
What is the lowest amount that can be paid to buy a property in Turkey?
Real estate prices in Turkey vary according to the region in which you want to buy a property, and you can buy a property in Turkey in installments. You will find a number of projects under construction (residential complexes in Turkey) that provide you with an installment and sale service with a convenient monthly payment system for several months, and the Arizona Real Estate Development Company enables you to buy a property in Turkey in installments.
Is there a specific limit for the total areas of real estate purchased in Turkey?
The total area of Turkey's real estate owned by a foreign expatriate from Turkey should not exceed 30 hectares.
Should I buy a ready-to-live property or a property under construction in Turkey?
Each of these properties has its pros and cons, but if we talk about the sums paid for its purchase, the payment in the ready apartment is immediate without installment. As for when you buy a property in Turkey under construction, you will be able to take advantage of the installment offers offered by the construction companies as most of the investors of the apartments under construction do not pay the price of the apartment in cash, and the profit margin is high depending on the area in which the project is located, as it may reach 50% at times.
What are the advantages of buying a property in Turkey?
- Turkey's proximity to the Arab countries, which allows the real estate buyer to make easy visits between his country of residence, Turkey, and his home country.
- Turkey, in its customs and cultural heritage, is similar to the Arab countries in many ways, especially religious and moral, as well as types of food and clothing.
- Turkey and its similarity with the traditions, methods and morals of Arab countries, it is suitable for education.
Related blogs:
How to get Turkish citizenship?
Turkish passport: types and features
Property prices in Turkey in 2020
Real Estate Residence in Turkey
How to Obtain Turkish Citizenship Through Real Estate Investment
Important real estate information in turkey
Turkish citizenship by investment
turkish residency by investment
turkish passport by investment
Buying a property in Turkey
Buying apartments in Turkey
Turkey-apartments/Istanbul_ apartments/Turkish_citizenship /Real_estate_turkey /Real_Estate_Purchase
