Do you prefer to search for apartments for sale in Istanbul in installments 2021
Last Updated: 2023-07-27
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Do you prefer to search for apartments for sale in Istanbul in installments 2021
The real estate market in Turkey allows foreigners to buy a property at their convenience, they can choose to buy a property in installments. It is a deferred payment sale contract for parts and stages after, of course, the first part of the amount is paid in the first installment. Those with low budgets can buy the property that suits them according to their desired desires. Through the following article, we will accompany you to inform you of the most important details of buying an apartment in installments in Turkey.
What are the ways to buy a property in installments in Turkey?
There are two ways to buy a property in installments in Turkey:
The first: to be directly through the construction companies: This is to organize a contract between the construction company and the buyer, in which all the details and agreed clauses are included in the contract, such as the price of the property / method of payment / installments and the date of payment. The buyer shall abide by the agreed upon date of payment without falling behind. The construction company, in turn, makes many obligations that it must abide by, such as handing over the property to its owner on time without delay. It must also be committed to implementing everything that has been agreed upon. Mostly real estate projects that are under construction, the building company chooses to sell all the apartments of the project in installments in order to benefit from the first installment in financing the project. As for the first payment, its value ranges from 35 to 50 percent of the property price. And you must know that the larger the first payment, the greater the discount.
Second: By taking a loan from the bank: Buying a property in Turkey by taking a loan from the bank is a common idea, as the bank buys the property from the construction company and then sells it to the buyer and puts a mortgage sign on it until the full payments are made. When you choose to buy a property in installments by taking a loan from the bank, the down payment will range from 30 to 40 percent of its total price. One of the most prominent advantages of choosing this method is that the repayment is in the long term, sometimes up to ten years. But in this regard, it is important to point out that the price of the property when it is through the bank is more expensive than if it was acquired through the construction company.
What are the most important advantages of buying a property in installments in Turkey?
- An opportunity to buy a property in an ideal environment like the Turkish state, where real estate is characterized by appropriate prices and high quality, as well as conforming to international standards.
- By buying a property in Turkey, you can obtain a real estate residence permit, which is classified as one of the most important residences ever, through which you can move between the Turkish states completely freely. It can also be obtained by all family members, in addition to being the document through which it is possible to reside in Turkey in a regular manner.
- If the price of the property is two hundred and fifty thousand US dollars or more, you can apply for Turkish citizenship with a commitment not to sell the property before three years have passed since its purchase.
- If you are one of the first to buy a property within the project that is still under construction, you will get a big discount.
- Real estate investment is one of the most important goals that many people rush to buy real estate for, as Turkey, with its ingredients, is a fertile and suitable environment to engage in this project in order to obtain rewarding profits.
- The current time is one of the best times to buy real estate, especially with the news that real estate prices are likely in the coming period, which expands the scope for earning profits.
The most important tips when buying a property in installments in Turkey:
- The amount should be divided into parts with the development of the construction stages.
- Ensure that all steps are legal, from signing contracts to legalizing and translating them.
- Look for construction companies that offer installment offers for a long period of up to ten years.
- Make sure that you are able to pay all the installments on time, and you must be confident that the first payment is not obligatory.
- It is important to use a real estate company in Turkey, as it, based on its experience and knowledge in the real estate market, offers the client the most important opportunities and offers that match his desires and budget.
Real estate companies also take you on real estate market tours of the most important projects so that you can choose. It also provides you with a comprehensive study about it shedding light on the most prominent advantages and finally, it provides you with important consultations.
If you are going to buy a property in Turkey, do not hesitate to contact us in order to inform you of the most important and appropriate offers available.
Edited by Mersat Real Estate Team©
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