Many negatives you may encounter when buying real estate in Turkey 2022 AD

May 24, 2022
Realestate

There is no doubt that the step of buying real estate in Turkey is a completely safe step in
light of all the facilities provided by the government and the guarantees that it provides to
real estate investors in order to attract foreign investments, but this never negates that
there are many negative aspects that must be taken into account.
Through the following article, the editorial team at Hana Real Estate will present you with a
set of warnings and caveats that you must know before you start looking for real estate for
sale in Turkey.
We wish you a lot of interest and knowledge.

Pay attention to these points when buying real estate in Turkey:

Through the following paragraphs, you will find a lot of important information that you
should take a look at when you are in the process of owning real estate in Turkey to ensure
that your choice is correct and far from wrong choices.

1 – The property may lose its financial value:

One of the first details that the investor fears is that the property will lose its financial value,
and this is not only in Turkey, but in various countries of the world, as it is possible that real
estate will lose its financial value as a result of an economic crisis.
But in Turkey, it is unlikely. The real estate market in Turkey has proven that it is one of the
best real estate markets in the world, and this has emerged clearly in recent years, as it has
been resistant to crises and fluctuations.
What can be said here is that real estate is one of the best investment options permanently,
as it preserves its value from this risk of fluctuations, and with the passage of time you find
that its prices have increased significantly. Add to your information that this type of
investment does not require much effort, fatigue, or the time.

2 – Falling into real estate fraud:

One of the most common real estate problems in Turkey is falling into the real estate fraud
trap, which has clearly increased with the perception of social media and the availability of
remote ownership or through the Internet.
In order to be away from this problem, you should know the most important forms of this
fraud, and the following are the most prominent of them:
– One of its most dangerous forms is impersonation of the property owner by exploiting his
absence or travel.
– Forging official papers and documents.
– Informing the buyer that the property is suitable for obtaining large profits and high
returns exceeding 20%.
– Conceive the buyer that the property is suitable for obtaining Turkish citizenship.
Therefore, it is important to look at all aspects and verify various things to ensure that you
do not pay thousands of Turkish lira in the wrong places, and do not forget that there are
many forms of fraud and even new methods always appear.

3 – Finding it difficult to pay the value of the property:

A large group of foreigners and investors choose to buy real estate in installments in Turkey
or under construction due to the inability to pay the entire value of the property in one go,
or the desire to distribute the capital over more than one investment field.
Beware that you do not have enough ability to make your payments on time so that you do
not face fines.
When you decide to buy this type of real estate, you have to agree with the construction
company or the seller on what suits you, and all of this must be documented in the sales
contract.

4 – Make sure to sign the contract in the Tapu Department:

An important detail that you should be careful about is that all contracts are signed within
the Tapu Department because any paper or document issued by others is not acceptable.

5 – Beware of the wrong choice:

If you do not have sufficient knowledge of the real estate market in Turkey, you are likely to
choose wrongly or in a way that does not meet your goals, so it is important to determine
the purpose that you seek to achieve by purchasing the property, is it real estate
investment? Or housing and accommodation? Or with the aim of obtaining Turkish
citizenship?

Cons of buying real estate in Turkey:

1 – If you choose to buy a property that is under construction, you will not be able to transfer
the ownership to you until after the full construction stages are completed.
2 – There are those who fear that the founding company will go bankrupt and construction
work will stop.
3 – That the construction company fails to deliver real estate and apartments on time and
slows down the construction process.
4 – Delivering apartments or real estate with different specifications than what was agreed
upon, or with different qualities.

Important notes when owning real estate in Turkey:

1 – Choose a construction company with experience and a good reputation in the Turkish
real estate market.
2 – Never search for real estate for sale on your own without consulting a real estate
consultant or a specialized real estate company in order to provide you with all the services
you need and the best real estate and investment opportunities.
3 – What you do not know is that with the great demand for real estate ownership in Turkey,
the number of real estate companies has increased significantly, and therefore it is
important that they have a wide reputation and fame.
4 – Focus on the terms of the sales contract after it is translated into Arabic in case you do
not know Turkish.
5 – Do not accept that there are any ambiguous points for you and ask about all the details
you want to know.
6 – Review the legal status of the property and make sure that it does not result in any
seizure or mortgage problem because this negatively affects its value.

Important information about Turkey real estate:

Although there are all the negative aspects that were highlighted above, this does not mean
that you will definitely fall into them, and what we have provided is only in order to be
careful, the Turkish government has provided many guarantees to foreigners so that they
feel safe, such as the real estate appraisal document that determines the value of the
property with extreme accuracy and follows up on the progress of building real estate and
investment projects.
Many privileges that you will get when choosing to buy and own real estate in Turkey, the
most prominent of which is real estate residence and obtaining Turkish citizenship. This is
also a great investment opportunity to develop and increase capital.

Everything you want to know about the real estate market in Turkey, you can know and
follow it through your continuous visit to our website.