If you do not have enough financial budget, should you give up your goal of buying real estate in Turkey?
After real estate in Turkey has become the goal of every foreigner and investor, many questions have been raised about this issue. The editorial team at Hana Real Estate has found an urgent need to dedicate this article in order to talk about the advantages of buying an apartment in installments in Turkey, where we will talk about how to buy an apartment and its advantages.
What is meant by buying an apartment in installments?
It is the purchase of an apartment or any other type of real estate, but without paying for it in cash, if only part of its value is paid and the rest is divided into small and spaced payments to be agreed upon between the two parties.
Often the value of the down payment ranges from 30% to 50% of the value of the apartment, and the higher it is, the more it helps you to get discounts and reduced prices.
How to buy an apartment in installments in Turkey?
If you want to buy an apartment in installments in Turkey, you have two options, either through a construction company or through a bank in Turkey.
1 – Through construction companies: These companies offer from time to time a lot of special offers and appropriate prices, where they pay the required first payment and the rest will be in stages as we mentioned above, but make sure that all the items that have been agreed upon are included in the contract and choose a reliable and famous company.
2 – Through a bank: you can buy an apartment in installments in Turkey through the bank, where he had previously purchased it from the construction company, put a mortgage sign on the property until the full payment of its price is completed.
Now you will be wondering what is the difference between the first and second method? If you want the installment to be in the long term, you should choose the second method, but in return the price of the property will rise more, so a large group of people prefer the first method.
Important information when buying an apartment in installments in Turkey:
– It is important to deal with a real estate company in Turkey, as its relations with construction companies are close and they can provide you with the best offers and discounts.
– You should bear in mind that you will have to wait before receiving the apartment because most of the installment offers are for real estate projects that are still under construction.
– You should take an experienced architect with you to make sure that everything that was agreed upon is implemented.
– When you receive the apartment, check it well. If there is anything wrong with it, you must ask for it to be repaired or modified.
– Beware not to pay the full price of the apartment, but it must be gradual with the development of the construction stages.
– It is important that you visit the construction site and the responsible people from time to time to see the stages they have reached.
– Check that you are able to pay the installments on time without delay so that you do not have to pay a fine.
– Pay the value of the property with great comfort without having to face financial pressures.
– You have to look for companies that offer discounts and offers that make the installment period over years longer.
– Study the apartment well. Are its specifications and features worth the required price, so as not to be a victim of fraud.
The most prominent advantages of buying an apartment in installments in Turkey:
1 – It is considered an opportunity to buy an apartment in a developed country such as Turkey for those who do not have the price of the apartment to pay in cash, or for those who need the money to set up another project.
2 – It is possible to obtain real estate residency, which is one of the best types of residency at all.
3 – If the value of the apartment is two hundred and fifty thousand US dollars or more, you can apply for Turkish citizenship.
4 – The prices of apartments under construction rise to thirty percent after the construction phase ends, and therefore you can sell them and benefit from the price difference.
The importance of buying apartments in Turkey:
If you look at the real estate market in Turkey, you will find that it is full of foreigners, investors, businessmen and even people who belong to the middle class. What are the reasons that drive them to it without other important countries around the world?
– Real estate prices in Turkey have been a motivation for many, as they are cheap and acceptable to the prices that you will find in European or American countries.
– The procedures for owning real estate in Turkey are easy and will not take much time.
– The Turkish government has provided many tax exemptions and reductions for foreigners when buying a property in Turkey (exempting them from value-added tax).
– Construction companies are keen to build projects in a manner that conforms to international specifications and standards (resistance to earthquakes and natural disasters).
– There is a wide and distinctive real estate variety that suits all tastes and desires, but residential complexes are considered the most suitable option for everyone due to their advantages.
What determines the prices of installment apartments in Turkey?
There are many factors that determine the real value of an apartment that you should take into consideration.
– The city in which the apartment is located (real estate prices in Istanbul are different from prices in Antalya or in other Turkish cities).
– The location of the apartment within the city (the prices of apartments located in the city center differ from the prices in the countryside or suburbs).
– Specifications of the apartment, is it modern or old? What public services and facilities are nearby.
– Is the apartment located in a residential complex or in a separate building? Is it new or old?
The best real estate offers we offer to our clients in Hana Real Estate, our extensive experience in the Turkish real estate market and our distinguished relations with the most important construction companies save them the trouble of searching, time and effort, just contact us and tell us about your requests to provide the necessary assistance you deserve.
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