Real estate in Turkey: important nuances
Türkiye attracts investors from all over the world. From this point of view, purchasing real estate is a very profitable investment. Many people want to purchase real estate in Turkey because it’s a beautiful country with a soft climate. It has a high investment attractiveness. The cost of property in Turkey is lower than in most other European countries, and the annual increase in prices reaches 100%. There is no such investment income in any country in the world with a stable economy.
Turkish Property Price
It depends on the location, condition, area, and other factors. You can find apartments from 10,000 euros to 12,000,000 euros. Villas are sold for 40,000 euros and more. As a result, an investor can purchase the economy and premium class real estate in compliance with his demands and financial features.
While buying a property under construction, you can save up to 40% of the cost, but there are risks that the developer will not rent the building. Therefore, many foreign investors are focused on buying apartments and villas that have already been built. If you are searching for a reliable developer, it is better to contact Stay Property Company. It has several developing projects in different Turkish tourist cities. The company has been working for a long time and offers many types of real estate.
According to Turkish law, an investor receives a golden visa while buying a property for 400,000 euros. It is not necessary to buy one object for such a price, you can buy several properties for 400,000 euros to obtain a golden visa.
How To Buy Real Estate In Turkey
If you are going to buy a property in Turkey, you need to go through certain stages in order for the transaction to take place.
1. Choose the object you need. It’s necessary to know the city you are interested in and the type of object. Moreover, you have to know your budget.
2. Sign a contract. You can apply for a mortgage in a Turkish bank to buy a better object.
3. Get a tax identification number and open a Turkish bank account. It’s necessary to pay for the new house.
4. Make a deposit of 10% – 25% of the cost to book the object. This information is prescribed in the preliminary contract in case the transaction fails at the buyer’s initiative.
5. Prepare all the necessary documents.
6. Pay the rest amount. According to the practice, the payment is in liras, dollars, or euro.
7. Obtain a Turkish title deed (TAPU).
According to world practice, there is no need for an investor to personally come to Turkey to make a deal. He can entrust it to an independent lawyer by providing him with a notarized power of attorney. The objects are shown using video surveillance equipment.
Here are the best cities to buy real estate: Alanya, Antalya, Istambul, Marmaris, Mersin, Dalaman, Trabzon, Belek, Kemer, and Bodrum. They have a developed infrastructure and they are popular among tourists. As a result, you can easily rent the house to get additional income if you are not going to live in Turkey. Moreover, the average price increase is higher in the cities.
