Your Guide to Buying an Apartment in Turkey 2022

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Your Guide to Buying an Apartment in Turkey 2022

All you need to know in order to buy an apartment in Turkey

Your Guide to Buying an Apartment in Turkey 2022
28th August 2022
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Buying an apartment in Turkey is one of the common goals of many people during the current period, and the reason for this is the desire to obtain many of the privileges offered to its holder, which are exceptional. In this article, the editorial team at Binaa Real Estate will provide you with a detailed report on everything you want to know about buying apartments in Turkey, and we will make sure that we answer your various questions and inquiries accurately.

 

Dimensions of buying an apartment in Turkey:

First, you need to know precisely the advantages that you will get by buying an apartment in Turkey, and this is what we will present in the following paragraph:

First: Buying an apartment in Turkey means the possibility of obtaining a real estate residency, which is considered one of the most important types of residencies in Turkey due to the ease of obtaining it and the possibility of renewing it annually, in addition to the set of advantages granted to its holder.

Is buying any apartment sufficient in order to apply for real estate residency?

Certainly not, as its price must be at least 75,000 US dollars, and this will be verified through the real estate appraisal document, which is a prerequisite.

Second: According to the Turkish Statistics Authority, more than 40% of those who buy real estate in Turkey aim to obtain Turkish citizenship, and therefore their search is focused on real estate projects that meet the conditions for obtaining it, that is, the prices of apartments in which are at least 400 thousand dollars.

Third: Real estate prices in Turkey are much cheaper than real estate in other developed countries, especially the European Union and America, or in many Arab countries such as Dubai.

Fourth: In addition to the appropriate prices, Turkey's real estate is characterized by high quality - and great luxury, as it is built according to the latest international standards and under the supervision of the most important specialists.

Fifth: Turkey is a suitable environment for permanent residence and stability, as it is one of the safest countries around the world and has a low crime rate.

Sixth: The ease of real estate ownership procedures in Turkey, as the Turkish government has overcome many obstacles that it faced, in contrast to many European countries.

Seventh: Real estate taxes in Turkey are low, and a foreigner who buys an apartment in Turkey for the first time is exempted from paying value added tax.

Eighth: The Turkish real estate market is one of the most diverse real estate markets around the world, where you must find the options and prices that suit you, which you can look at after you make a real estate tour and visit the available projects.

Ninth: After the Turkish government abolished the reciprocity law in 2012, foreigners of various ownerships in Turkey could own a property, with the exception of five nationalities: Syria - Armenia - Cuba - North Korea - Greek Cyprus.

Tenth: Real estate investment in Turkey is one of the most successful types of investment ever, as many distinguished results can be achieved.

 

Why buy an apartment in Turkey?

Real Estate Investment?

Desire to apply for Turkish citizenship?

Housing and stability permanently?

Staying there during the tourist seasons?

In this context, you should know that the choice would differ depending on the goal you seek to achieve, and therefore you must determine the goal first so as not to fall into the wrong choice ; this is one of the problems that those who are about to own property in Turkey or in other countries that are not familiar with their laws and regulations are usually afraid of, as well as in order to shorten the time and not search randomly or in unorganized way.

 

Apartments for sale in Turkey in installments

One of the advantages that foreigners have obtained when buying real estate in Turkey is the possibility of owning in installments, just as the Turks do. Turkish laws did not differentiate between a Turkish and a foreigner, but who do you think would choose this type of apartment?

-Who does not have enough money to pay the value of the property in cash.

-Who believes in the need to diversify sources of income and investment.

-Buying an apartment in installments has many advantages, the most important of which is not having to face financial pressures or difficulties in securing the amount.

-The period available to terminate the amount incurred varies between companies, it may be 6 months, 12 months, 24 months, 36 months, and it may be more than that.

-It is easy to find apartments in installments for sale in Turkey, as the construction companies offer many special offers to meet the huge demand for the Turkish real estate market from different classes and to stimulate the movement of buying and selling, this has a great reflection on the Turkish reality in general.

-An apartment can be purchased in installments in more than one way, the first and the common one is the construction companies and the second through a bank in Turkey, and this allows more time for payment.

-One of the advantages is also the possibility of benefiting from the property directly after purchase without waiting until the full payment of its price is completed.

 

Is buying an apartment in installments safe in Turkey?

Of course, it is completely safe, but there must be a set of caveats that must be taken into account, which we will review in full through the following points:

-Check that you can pay the installments on time because any delay will result in paying fines.

-You have to deal with a reputable and reliable construction company in order not to be a victim of real estate fraud.

-You have to bear in mind that you will not be able to get the title deed directly until after you have completed all the due installments.

 

Apartment for sale in Turkey under construction:

One of the distinctive options and profitable investment opportunities in Turkey is to buy an apartment under construction, and this is what many people resort to for several reasons, the most important of which are:

-Much cheaper than ready-to-move-in properties.

-Their prices rise by large percentages after the completion of the construction stages, and this percentage ranges between 35% and 70%. T

-here are a lot of special offers.

-The buyer can add the appropriate details on the apartment and make any modification he wants to it.

 

The importance of real estate investment in Turkey:

There are several indicators that guarantee the importance of real estate investment in Turkey. Here are the most important ones:

- Great demand for buying real estate in Turkey.

-The foreign influx to it from everywhere in order to receive treatment, study, housing, or for the purpose of immigration and stability.

-The busiest tourist seasons that Turkey witnesses every year, which increase in frequency day by day.

-Great real estate diversity that meets different tastes and budgets.

-Expectations that indicate a rise in real estate prices during the coming period due to the rise in the prices of raw building materials because they are imported from other countries and due to the change in the value of the Turkish lira against foreign currencies.

 

Steps for buying an apartment in Turkey:

First: Finding a Specialized Agent:

The first step is to find a reputable real estate agent who specializes in Turkish apartments with experience and familiarity with the laws and regulations related to buying real estate in Turkey.

 

Second: Obtaining approval for a loan:

The next step is to get pre-approved for a loan. This will give you an idea of ​​how much money you can borrow and will also show the seller that you are serious about buying an apartment in Turkey

 

Third: Negotiating the price:

Once you have found the perfect apartment, it is time to negotiate the price. And be sure to work with your real estate agent to come up with a fair price suitable for your budget

 

Fourth: Completion of legal procedures:

If you are thinking of buying an apartment in Turkey, there are some legal procedures that you must complete:

1 - You need to obtain the title deed.

2 - Registering in the local municipality and obtaining a contract.

3 - You must pay the full registration fee and taxes.

4 - The buyer needs to obtain a residence permit.

5- The buyer needs to obtain the title deed of the property.

6 - The contract must be notarized by a notary in order for it to be valid.

7- It is important to have a Turkish bank account.

 

The most prominent documents for buying apartments in Turkey:

There are a set of documents that must be available when buying apartments in Turkey, see them below:

1 - When buying an apartment in Turkey, only foreigners are required to have a passport. However, it is recommended that you also have a Turkish tax number, which can be obtained from your local tax office. You will need this number to open a bank account and complete the purchase transaction.

 2 - If you are buying by a mortgage, you will also need to provide proof of income and employment, as well as documents related to your properties in your home.

 

The most important types of apartments in Turkey:

We have already mentioned that the real estate market in Turkey is full of options, and through the following paragraphs, you can see the most important ones:

1 - Studio apartments:

Studio apartments are becoming increasingly popular in Turkey, especially in big cities like Istanbul and Ankara. These small, self-standing units offer a more convenient and affordable alternative to traditional apartments, and are ideal for young professionals or students who wish to live independently.

There are some things to consider when looking for a studio apartment in Turkey, such as location, budget, and amenities.

 

2- Apartments of residential complexes:

Residential complexes are one of the most popular types of housing in Turkey. They are usually located in the city center and offer a variety of amenities to residents, such as swimming pools, fitness centers and playgrounds.

Most of the complexes also have security guards and surveillance cameras to ensure the safety of residents.

 

3- Penthouses:

Penthouses in Turkey have gained increasing popularity in recent years as the country has earned a reputation for luxury and sophistication. Located on the highest floors of the buildings, penthouses offer stunning views of the city skyline and are often equipped with high-end amenities such as private pools, Jacuzzis and balconies.

If you are looking for a luxurious place to stay while you are in Turkey, be sure to check out the offers on this matter.

 

4 - Duplex apartments:

Duplex apartments in Turkey have become very popular in recent years for a number of reasons:

-They provide a great way to save space and money.

-They are perfect for families or groups of friends who want to live together.

-They offer a unique way to experience Turkish culture and lifestyle.

-They usually come with a balcony or terrace.

-Duplexes are a better investment than apartments because they can be easily converted into two separate units.

-Their residents can have a lot of independence and privacy.

 

5 - Triplex apartments:

Three-story apartments are becoming increasingly popular in Turkey due to their many advantages because they:

-Offer more living space than a typical apartment.

-Are ideal for families or those who desire a luxurious environment.

-The triple apartments have private balconies and terraces with stunning views of the city skyline.

-Many of these properties are located in prime real estate areas, providing residents with easy access to the best that Turkey has to offer.

-They are safer than traditional apartments.

-You will not have to deal with noisy neighbors or curious landlords.

 

6- Villas:

-Villas in Turkey can be found in a wide range of prices to suit every budget.

-The lifestyle associated with owning a villa is very attractive to many people.

-Villas in Turkey are usually located in areas of natural beauty, so you can enjoy the stunning scenery and the relaxing atmosphere.

-There are many different types of villas available, so you can find the villa that suits your needs.

-Turkey is a popular holiday destination, so you can rent out your villa when you are not using it and earn some extra income.

If you want to search for apartments for sale in Turkey, do not hesitate before contacting our real estate consultants to help you find the best option for you, and do not forget to visit our website regularly to see the latest developments in the Turkish real estate market.

 

Related articles :
The guide of real estate investment in Turkey 2022
Latest updates on Turkish citizenship and real estate residence
Luxury apartments for sale in Istanbul
How to obtain a Turkish passport?
The journey of looking for apartments for sale in Istanbul
Houses for sale in Turkey in installments
Villas for sale in Istanbul
Best offers for apartments for sale in Turkey 2022
How to obtain Turkish citizenship by real estate investment?
Steps to buying an apartment in Istanbul
Tourist Residency and Real Estate Residency in Turkey
The best real estate investment areas in Istanbul
#Binaa_investment    #real_estate   #Turkish_citizenship
#Istanbul_apartments    #real_estate_investment

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