Buying apartments in Turkey is the first step in a successful real estate investment
Last Updated: 2023-07-27
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Buying apartments in Turkey is the first step in a successful real estate investment
Buying apartments in Turkey is the first step in a successful real estate investment for investors who are looking for a pioneering investment opportunity that will change the future of their career for the better and for decades, if they follow the scientific foundations for this type of investment and follow the right steps for the success of real estate investment in Turkey with familiarity with the regulations and laws that Real estate trading control in the Turkish market.
How do I search for apartments in Turkey?
1- The first advice is to go directly to one of the well-known real estate companies that are in direct contact with the Turkish real estate market and monitor all developments that occur on the market in terms of regulations and laws enacted by the Turkish government and amending them from time to time according to the current circumstances, while at the same time it is closely monitoring All existing real estate investment projects in the region and collecting full information on the technical specifications of real estate in these projects, to put in your hands a systematic plan for buying a property in Turkey towards a successful real estate investment.
2- Determining the goal of buying apartments in Turkey helps you choose the right apartment that suits this goal, and we will also help you determine your goal by identifying the forms of successful real estate investment in Turkey:
Investing in commercial real estate in all its forms
It means investing money in all real estate from shops, stores, warehouses and any other types, provided that they are not designated for housing and living, and choosing the appropriate timing to intervene in the real estate market to achieve the highest possible return. For example, the beginning of the year is considered one of the most appropriate times for real estate investment in offices, shops and universities because of the diversity of Economic and scientific activities in this period of the year and thus the high demand for real estate. As for real estate investment in tourist and recreational facilities, especially in a tourist country such as Turkey, which attracts tourists and witnesses internal and external tourist movement from all over the world, the summer season is the best judgment.
2- Determining the goal of buying apartments in Turkey helps you choose the right apartment that suits this goal, and we will also help you determine your goal by identifying the forms of successful real estate investment in Turkey:
Investing in commercial real estate in all its forms
It means investing money in all real estate from shops, stores, warehouses and any other types, provided that they are not designated for housing and living, and choosing the appropriate timing to intervene in the real estate market to achieve the highest possible return. For example, the beginning of the year is considered one of the most appropriate times for real estate investment in offices, shops and universities because of the diversity of Economic and scientific activities in this period of the year and thus the high demand for real estate. As for real estate investment in tourist and recreational facilities, especially in a tourist country such as Turkey, which attracts tourists and witnesses internal and external tourist movement from all over the world, the summer season is the best judgment.
Real estate investment in apartments
It means investing capital in residential real estate in all its forms and in various regions in Turkey, and the appropriate timing is usually before the peak demand period, which is usually after leaving the winter season, i.e. in the spring.
The mechanism of successful real estate investment in both cases is as follows:
The mechanism of successful real estate investment in both cases is as follows:
Property Rental
Real estate rental brings you a stable income that can rise annually at a rate of 10% annually, due to the increased demand for real estate rental by a large segment of consumers, by buying and renting real estate in times of peak economic activity or residential activity, as this type of profitable and secured real estate investment.
Real estate Resale
Reselling the property at a price higher than the purchase price will achieve a high investment return for you, provided that you choose the right time to intervene in the market as well as choose the appropriate property, by buying damaged, simple or incomplete apartments and then completing the construction, engineering and cladding of these buildings to appear civilized Contemporary and attractive, and then this property is resold at a high price, the difference between the two prices is the desired investment profit.
- Determining the purchasing power that you can sacrifice has a major role in choosing the property in terms of the type of property, the region in which the property is located, and in terms of the technical specifications that it is characterized by. Each of these factors plays an important role in real estate investment when buying real estate in Turkey.
- See the latest developments in the laws and regulations regulating Turkish real estate investment and this matter is very important, it is necessary to know your rights and duties when entering the real estate market in Turkey, the Turkish government has created the legal legislative environment that formed a fertile ground to encourage real estate investment on its territory, There are many legal details that are in your favor and you do not know, and in return there may be many caveats that you should avoid to ensure the success of your purchase of real estate in Turkey.
- Inspect real estate price fluctuations by taking a prior idea of real estate prices in the Turkish market in order to negotiate the price with the seller if you find that the price is not appropriate, in cooperation with the real estate broker that we advised you to contact initially.
- Close inspection of the property, it is necessary to visit the site of the property or the real estate project if it is still under construction to make sure that the specifications match your request and are compatible with your goal, do not forget that.
- Preparing the required official papers, some of which are related to the property and others are related to the seller:
- The title deed of the property and is in the name of the owner who signed the contract or his official representative.
- A copy of the building permit for the real estate project, if it is still under construction.
- Two personal photos of the buyer.
- A translated and certified copy of the buyer's passport.
- A copy of the property owner's ID card.
- Extracting the tax number, which is a number obtained 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 Turkish citizenship. - Opening a bank account in a Turkish bank in order to transfer the price of the apartment to it, as it is required that the purchase process be made through a bank transfer, and later benefit from it in obtaining real estate residence, and it is considered one of the necessary documents in order to obtain Turkish citizenship.Assessing your financial situation, as buying a property in Turkey requires you to either freeze or invest a large amount of money for a period of time until the high investment return is collected.
Conditions for successful real estate investment in Turkey
- An investor wishing to invest in real estate in a specific project must inform the relevant ministry of the type of project, whether it is agricultural, industrial, educational or commercial.
- 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.
- 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.
- It is very important when buying a property that the investor makes sure that the property is not mortgaged or subject to certain procedures that prevent its sale and thus hinder the investment process.
- Choosing the real estate area is an important and basic condition in the real estate investment process. The real estate must not be in military areas or affiliated with security areas, due to the existence of a law prohibiting the sale of such real estate to foreigners.
- 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.
- 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.
- There is an important step that must be taken into consideration. If you want to invest in real estate in Turkey, you must hold one of the nationalities allowed in real estate investment in Turkey.
Investment advantages of the Turkish real estate market
- There are many advantages that you get once you buy apartments in Turkey, including:
- Obtaining real estate residency and benefiting from its features.
- Obtaining Turkish citizenship and benefiting from its advantages.
- The property price must be at least $400 if you want to obtain Turkish citizenship.
- Condition not to dispose of and invest in this property for a minimum period of three years.
- The high return on real estate investment in Turkey, which is the ratio of profit earned by the investor to the total cost after excluding all costs associated with the investment process. These costs directly affect the calculation of the rate of return as it includes maintenance, repair, rehabilitation, modern designs and all additions and accessories in addition to A very important aspect is whether the purchase is financed directly or indirectly through loans, where the interest rate intervenes in calculating the investment return accurately. In any case, and 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. And you can easily notice the huge volume of transactions in the Turkish real estate market.
Editing by Mersat Real Estate Team©
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Residence in Turkey by buying a property | Cheap apartments for sale in Turkey | Real estate prices in Turkey | Buying a property in Turkey
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