Real estate buyers guide in Turkey

The real estate in Turkey handbook offers every buyer countless opportunities that highlight the advantages of investing in Turkish cities and states, which have been and still are the desired destination for foreigners of different nationalities.

Turkey, or as it is called (the paradise of the earth), has dazzled the world with its charming nature, climate, strategic location, and ancient heritage. In addition, its strong economy and real estate investment laws opened the way for many foreigners to get Turkish citizenship through real estate ownership.

In this article by Binaa Investment, the advantages of this type of investment are highlighted. Also, how to buy and own real estate in Turkey is underlined?

Real estate handbook in Turkey | What is real estate investment?

It is one of the oldest types of investments, through which money and savings are employed in a way that achieves gains for the investor, which is fully applicable to real estate investment in Turkey.

Purchasing real estate achieves periodic returns such as profits and interest, or by reaping capital gains such as increasing the value of shares or increasing the price of the property itself after some time.

The purchase and investment in real estate might be preserving the value of money from crises or inflation, or it might be saving it for future generations.

Is real estate investment in Turkey beneficial?

Real estate market experts confirm that investing in real estate is very important for people trying to secure their financial future for two main reasons:

• Real estate investment returns are not tied to stocks or securities.
• The history of real estate has very similar rates of return to stocks.

So, real estate investment in Turkey is characterized by high return rates, without breaking it, and it is not easily liquidated like other investment sectors.

Advantages of buying real estate in Turkey

1.    Low cost of living

Living in Turkey is of low cost compared to other European countries, even Middle Eastern countries as well.

2.    Low real estate prices

Real estate prices in Turkey can be classified as cheap compared to other countries, which has led to its strong entry into the global real estate market, thus attracting foreigners from different countries.

3.    Several housing options

The wide choice of luxury buildings, apartments overlooking the sea, and standard apartments suitable for a limited budget have made foreigners keen on owning real estate in Turkey.

4.    Easy Ownership Procedures

The ease of owning real estate in turkey is due to Turkish legislation and laws to attract foreign investments into the country, thus enhancing the local economy.

5. Long-term investment

The real estate market is reliable for people looking for long-term investments. Turkey can provide a high return on investment, thanks to the steady rise in the price of real estate.

5.    Getting Turkish citizenship

A real estate investment with a value of no less than 400,000 US dollars qualifies the investor and his family to get Turkish citizenship within 90 days; that is the most significant advantage of purchasing a property in Turkey.

Real estate handbook in Turkey | real estate investment locations

There are many destinations for foreign expats to invest and live in Istanbul and other cities. For this reason, Binaa Investment Company offers you the most notable places of real estate ownership in Turkey, which are:

1.    Istanbul

Istanbul is the most preferred and popular destination for real estate investment in Turkey, as it is the largest Turkish city and the center of culture, economy, and tourism.

Istanbul city consists of 39 districts. Therefore, real estate is a famous and promising market in it. Over 40,000 properties have been purchased by foreigners since 2013 until now.

Real estate prices in the city and its suburbs are reasonable, despite the elaborate architecture and solid infrastructure, providing all amenities, entertainment, and services, besides job opportunities, education, and health care.

2.    Ankara

Ankara is the capital and preferred destination for many expats, investors, and tourists, besides students wishing to complete their education in Turkey.

Real estate prices in Ankara are lower than in Istanbul, with many service facilities, malls, and luxury shopping centers, in addition to many profitable business opportunities.

3.    Bodrum

A coastal city contains luxury villas overlooking the sea and independent houses with spacious gardens. It is characterized by its mild climate, making tourism in it, in summer and winter, very enjoyable.

4.    Antalya

It is the favorite summer destination for tourists and local Turkish residents due to the blue flag beaches and its pleasant mild climate, so there is a great demand for houses for sale in Antalya by citizens and foreigners.

Restrictions on the purchase of a real estate for foreigners

Although it is easy to buy real estate in Turkey, there are some restrictions imposed on foreigners, namely:

• It is not allowed to have real estate in prohibited military and security areas.
• According to Article 35, the homeland of the foreigners must be of the countries that Turkey allows them to own real estate.
• A foreigner is allowed to own a maximum of 30 hectares.

Stages of purchasing a property from Binaa Investment Company

• Communicate with the client and present the appropriate offers for his desire and budget, and then set an appointment to receive him in Turkey.
• Our clients are received by the Binaa Investment team at the airport and escorted to their place of residence.
• A real estate tour is then organized by the sales directors of Binaa Investment Company to show our client all the real estate suitable for his request on the ground, with detailed information about each unit.
• The client chooses the suitable property, then a contract is signed between him and the company that owns the property, or the owner, under the supervision of the company's lawyer, or the client's private lawyer, if any.
• After signing the contract by both parties, a payment is made to the company or the property owner. Then, the tax number is obtained with the help of our specialized team.
• It takes about two to five days to register the property, which is the period needed to get a real estate experience report.
• Upon making the complete payments, in cash or installments, the buyer receives the title deed of the property "Tabu" at the Land Registry Department, in the presence of both parties and the sworn translator.

Binaa Investment Company accompanies you step by step to facilitate your transactions, answer your inquiries, provide all services, and solve all the hardships you may encounter. It can be considered a complete handbook to buying real estate in Turkey.

 Binaa Investment Company is happy to receive your inquires, provide you with more details. Our services are offered with pleasure to help you always choose the best.

Edited by: Binaa Investment^©

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