Apartment guaranteed by the Turkish government, advantages that investors are looking for in Turkey
Last Updated: 2023-07-27
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Apartment guaranteed by the Turkish government, advantages that investors are looking for in Turkey
In many of our advertisements, the phrase (real estate with the guarantee of the Turkish government) appears to you, what does this mean and what is the impact of this feature on Turkish real estate.
What does it mean to buy a property in Turkey that is guaranteed by the Turkish government?
When you decide to buy a property in Turkey, here you will have two options, the first is to buy a property that is guaranteed by the Turkish government, and the second option is to buy a property that is not guaranteed by the Turkish government. Today we are talking about real estate that is guaranteed by the Turkish government, which is a joint work between the private sector and the public sector, and there are those who call this work a participatory work.
From the deep details of this subject, it becomes clear to us that the works and costs will be divided in half between the public and the private sectors. For example, the government sector provides the land, which is of course owned by it. As for the private sector, it will have to bring the civil engineers, architects and all the workers required for the project in addition to bringing building materials. As for the project management, it will be a partnership between the Turkish government and the private sector, as the Turkish government will send delegates from its side, who will receive audit matters and monitor the progress of work, whether the materials placed in the construction are good or not to the required extent, and there is a lot of administrative work between them.
Which is better to buy a property that is guaranteed by the Turkish government or the opposite of it?
This question will certainly be in your mind, as you do not know the positives and advantages of any of the projects, neither the one that is guaranteed by the Turkish government nor the one that is not guaranteed by it, and this is precisely what necessitates that you search for information that gathers you what you seek from them. It is true that each of these two projects has its own positives and advantages, but we must acknowledge and admit that the property that is guaranteed by the Turkish government is the best property because you will receive it exactly on time without any delay. As for the other property that is not guaranteed by the Turkish government, you may not be able to receive it on time due to some delays that always occur. We always advise you if you find a property guaranteed by the Turkish government, do not hesitate to buy it because it is the most useful.
Learn about the types of contracts that you will encounter when you buy a property with the guarantee of the Turkish government
You should know that we have two types of contracts that you will find when you buy a property with the guarantee of the Turkish government. The first type is called a direct contract, and this is exactly the case. You will sign the contract between you and the Turkish government directly without the presence of any mediator, so the Turkish government will be the seller and you will be the buyer, so things are done in a disciplined and correct manner without any problems or obstacles. As for the second type, it is called the assignment contract, which is that we have a Turkish citizen who has purchased from the Turkish government, and he in turn sells this property to the foreign citizen, so it is called the assignment contract. We think that the differences between them have become clear, which indicates that the second contract may have a higher price than the first, because this Turkish citizen will aim to profit from you in an investment plan.
Which of the two contracts is better, the direct contract or the assignment contract?
We will not be able to be certain about which of the two contracts is better when you buy a property with the guarantee of the Turkish government, because each of them has specific features that do not suit your circumstances, and may suit the circumstances of others. It is not our right to settle the outcome in favor of one of the two contracts without the other. But it is our duty to point out that if you want to buy the property through the Turkish government in installments, the assignment contract will be the best for you because this gives you long-term installment offers for a period of ten years to twenty years. As for the direct contract, the installment contracts are less than this, so you always have to think about your situation and circumstances and the things that suit you and choose among them.
What are the most important advantages of buying a property with the guarantee of the Turkish government?
There are many advantages that you will find in these participatory projects, the most important of which is that you will find the advantages of the private and public sectors combined in one entity. In addition, you will find all government support on your side, as you will be one of the investors who have achieved fairness, keeping away from injustice and deprivation of rights. You must know that these projects are given extra care by the Turkish government, making them excessively serviced. Among these features that we are talking about are the prices, as they are also supported in this regard, so you will find a clear difference from what is found in other projects.
The economy in Turkey is very distinguished, it is fast and stable, and the domestic product has nearly tripled in a relatively short period of time. It was able to top the list among other countries and has intentions to be among the top ten list of countries with high economies. This economic situation encouraged it to be supportive of real estate projects, as we mentioned above.
Edited by Mersat Real Estate Team ©
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