15 important questions about owning real estate in Turkey
Last Updated: 2023-07-27
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15 important questions about owning real estate in Turkey
Are you thinking of owning real estate in Turkey? Certainly, there are a lot of questions and inquiries that you have about buying real estate, especially if this is your first experience. You need real estate experts to get adequate and accurate answers, so in this article we decided to accompany you to answer all your inquiries.
Frequently asked questions about owning real estate in Turkey:
The following are the accurate answers to buying real estate in Turkey, which are what all investors and those who want to buy real estate are looking for:
The following are the accurate answers to buying real estate in Turkey, which are what all investors and those who want to buy real estate are looking for:
Question 1: To buy real estate in Turkey, do you need a residence permit and how do you get it?
First: Any foreigner can obtain real estate residency when buying residential real estate in Turkey, and its duration is for a full year and it is renewable. In this context, this residency is one of the most important residencies in Turkey at all because how easy it is to obtain it. But if you may wonder about the importance of obtaining a residence permit to buy real estate, it is not possible without it.
Question 2: What are the steps for buying real estate in Turkey?
Here are the most important steps that you should follow when buying real estate in Turkey:
Here are the most important steps that you should follow when buying real estate in Turkey:
1 - In the beginning, you should contact one of the real estate companies that are located in Turkey, because it offers you many suitable options that you can choose between them.
2 - You have to take a real estate tour to visit the most important distinguished projects to get acquainted with the specifications provided by the projects.
3 - Ask about the conditions that must be met to buy real estate.
4 - When signing the contract, the first part of the amount must be paid.
5 - In the last stage, the remaining procedures are followed up, and then the title deed of the property is extracted.
Question 3: What are the most important conditions for foreigners buying real estate in Turkey?
One of the most important conditions for foreigners buying real estate in Turkey is that the property is not located within a security or military zone. Also, a foreigner is not entitled to own more than thirty hectares in various parts of Turkey, and he cannot own more than ten percent of the area
total area.
total area.
Question 4: What is meant by real estate title deed in Turkey?
It is an official document proving a person's ownership of the intended property, and all information related to the property is recorded in it and obtained from the Land Registry Directorate.
It is an official document proving a person's ownership of the intended property, and all information related to the property is recorded in it and obtained from the Land Registry Directorate.
Question 5: What is the importance of buying a property through a real estate company?
One of the smart options that the buyer in Turkey resorts to is to use a real estate company with experience and extensive knowledge of the full dimensions of the real estate market in Turkey in order to shorten the time and find the right property quickly. There are those who are fully responsible for organizing the buying and selling processes and following up on legal procedures.
One of the smart options that the buyer in Turkey resorts to is to use a real estate company with experience and extensive knowledge of the full dimensions of the real estate market in Turkey in order to shorten the time and find the right property quickly. There are those who are fully responsible for organizing the buying and selling processes and following up on legal procedures.
Question 6: Can you negotiate the price of the property?
It is common when buying real estate in Turkey that its price is negotiated so that the seller and buyer are satisfied with the price paid, but in some real estate projects, especially in Istanbul, the owners of projects do not accept the negotiation.
It is common when buying real estate in Turkey that its price is negotiated so that the seller and buyer are satisfied with the price paid, but in some real estate projects, especially in Istanbul, the owners of projects do not accept the negotiation.
Question 7: Are all foreigners allowed to buy real estate in Turkey?
Turkish law allows foreigners of different nationalities to buy real estate in Turkey, with the exception of only five of them (Syria - Armenia - North Korea - Cuba - Cyprus).
Turkish law allows foreigners of different nationalities to buy real estate in Turkey, with the exception of only five of them (Syria - Armenia - North Korea - Cuba - Cyprus).
Question 8: Is it possible to take a loan from the bank?
Many people cannot pay the price of the property in one go, or the full price of the property is not available with them, so they look for another way. The idea of taking a loan from the bank is a common idea, especially since banks in Turkey give foreigners the required loans.
Many people cannot pay the price of the property in one go, or the full price of the property is not available with them, so they look for another way. The idea of taking a loan from the bank is a common idea, especially since banks in Turkey give foreigners the required loans.
Question 9: How to open a bank account in Turkey?
One of the conditions for buying real estate in Turkey is that it be paid for through a bank in Turkey. Therefore, a bank account must be opened, and for this you need to obtain a tax number and a document proving the residential address.
One of the conditions for buying real estate in Turkey is that it be paid for through a bank in Turkey. Therefore, a bank account must be opened, and for this you need to obtain a tax number and a document proving the residential address.
Question 10: How much is the value of extracting the title deed tax?
According to the Turkish Constitution, the issuance of the title deed tax of the property amounts to four percent of the value of the property paid by both the buyer and the seller, and in some cases the buyer pays it in full.
Question 11: Can a foreigner pass on the property to his children in Turkey?
This is one of the issues that always preoccupies the buyer. Will his children get the property after him, or will the property go to the state? In this context, we must point out that the laws that apply to Turkish citizens are also applicable to foreigners.
This is one of the issues that always preoccupies the buyer. Will his children get the property after him, or will the property go to the state? In this context, we must point out that the laws that apply to Turkish citizens are also applicable to foreigners.
Question 12: How to obtain Turkish citizenship by owning real estate?
Real estate is one of the most important ways to obtain Turkish citizenship, but the value of the property must not be less than two hundred and fifty thousand US dollars and must be kept for three years.
Real estate is one of the most important ways to obtain Turkish citizenship, but the value of the property must not be less than two hundred and fifty thousand US dollars and must be kept for three years.
Question 13: Which Turkish cities are the best to search for real estate for sale in Turkey?
One of the best Turkish cities to buy real estate in Turkey is Istanbul, which includes many important real estate offers and opportunities, especially if you choose to search on the European side, for example, you can search in Basaksehir, Eyup sultan or Zeytinburnu.
One of the best Turkish cities to buy real estate in Turkey is Istanbul, which includes many important real estate offers and opportunities, especially if you choose to search on the European side, for example, you can search in Basaksehir, Eyup sultan or Zeytinburnu.
Question 14: What is the importance of the real estate appraisal document when buying a property in Turkey?
- This document accurately determines the value of the property.
- Prevents the buyer from being vulnerable to real estate fraud.
- Issued in three days and at the latest in a week.
- It is valid for three months.
- Prevents the buyer from being vulnerable to real estate fraud.
- Issued in three days and at the latest in a week.
- It is valid for three months.
Question 15: What determines the value of real estate in Turkey?
The value of real estate in Turkey varies based on many factors, which are as follows:
The value of real estate in Turkey varies based on many factors, which are as follows:
-The geographical location occupied by the property.
-The view he enjoys.
-Internal specifications.
-The age of the building in which it is located.
-The service facilities that surround it.
-Proximity to infrastructure projects.
-The view he enjoys.
-Internal specifications.
-The age of the building in which it is located.
-The service facilities that surround it.
-Proximity to infrastructure projects.
In the field of real estate in Turkey, many questions arise, and we at Mersat Real Estate are keen to provide full and comprehensive answers. If you want to buy a property in Turkey, you can contact us so that we can offer you the most important real estate and investment opportunities ever.
Edited by Mersat Real Estate Team ©
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