The most important questions related to owning real estate in Turkey
The question is the key to getting to the right result, especially if it is in a field that you are not aware of or in which you have no previous work. Many questions are asked by those interested in real estate in Turkey, money owners and investors, so in this article we will address this matter by asking the most common questions and then answering them with great accuracy.
Important questions about owning real estate in Turkey:
The first question: What is the importance of buying real estate in Turkey?
1 – Did you know that Turkey contains many modern real estate projects, which vary between ready made and under construction, and residential complexes are among the finest options ever, characterized by the fact that they include a swimming pool – green spaces – children’s playgrounds.
2 – Turkey is characterized by a developed, modern and competitive infrastructure for the most important countries in the world. It has advanced hospitals, great educational systems, and is always keen to expand transportation lines to tackle the problem of overcrowding.
3 – The Turkish government provided many facilities, most notably the tax reduction, which is lower than the European Union countries.
4 – Real estate prices in Turkey are very appropriate and moderate compared to what real estate prices are witnessing in Europe or in some Arab countries.
The second question: How many properties are allowed for a foreigner to buy in Turkey?
Despite the ease of buying real estate in Turkey, there are certain restrictions on foreigners buying real estate, which are as follows:
– A foreigner can’t own more than 30 hectares in various parts of Turkey.
– The area of his real estate in one area must not exceed ten percent of its total area.
– It is important that the area is not located in a security or military zone.
The third question: What are the conditions for obtaining Turkish citizenship by buying real estate in Turkey?
Real estate is one of the shortest ways to obtain Turkish citizenship, and the price of the property must be a minimum of two hundred and fifty thousand US dollars + a pledge not to sell it before three years have passed.
The desire of many foreigners to obtain Turkish citizenship is a natural result of the advantages it provides to those who hold it.
Fourth question: Can all foreigners buy real estate in Turkey?
It has become possible for all foreigners in the world to buy real estate in Turkey, after Turkey abolished the reciprocity law, with the exception of only five nationalities (Syria – Armenia – Cuba – North Korea – Cyprus).
Question Five: What taxes must be paid when buying a property in Turkey?
This issue occupies the investor, so is he going to pay a large amount, or are the costs moderate and appropriate?
– There is a fee for extracting the title deed of the property, which is 4% of the total property value.
– The value added tax, which ranges from 1% to 18%.
– There is also the payment of fees for translation and attestation of documents.
– Real estate appraisal document fees.
– Fees for obtaining an earthquake insurance policy.
Question Six: What are the steps for buying a property in Turkey?
You have to follow the following steps to buy real estate in Turkey:
– First, it is necessary to communicate with a real estate company in Turkey in order to save the effort and the trouble of searching.
– It is necessary to conduct field tours and visit the most important real estate projects available to see their advantages and get a clear idea of the prices.
– Determine the purpose of buying the property. Do you want housing, residence, real estate investment, or obtaining Turkish citizenship?
– Determine your financial budget well so that you do not find expenses and costs that are not expected later.
– Prepare all required documents.
Question Seven: What is the importance of buying a property through real estate companies?
When buying a property in Turkey, it is recommended that you use a real estate company that has long experience and knowledge in the real estate field in order to secure the right property for you at an excellent price. These companies guarantee you to purchase the property in a safe manner, and in addition to that, the buyer receives after-sales services.
The eighth question: What is the importance of buying a property under construction?
Among the many options offered by the real estate market in Turkey are properties under construction and they are widely available. These properties are suitable for those with a low budget, as they have to pay part of the property price and the rest is divided into sections.
One of the most prominent advantages of buying under construction properties in Turkey is that its price increases by more than thirty percent upon completion of the construction process, and it is also cheaper than ready-made properties and enables the owner to make the modifications he wants.
The ninth question: What are the most important cities for real estate ownership in Turkey?
In fact, it is not possible to determine a clear answer to this matter, as it varies according to the buyer and according to the intended goal, but in general we can tell you that Istanbul is at the forefront of the Turkish cities selling real estate due to its urban development.
Among the best areas of Istanbul for housing and stability are Beylikduzu, Basaksehir and Bahcesehir.
If you want to invest in real estate, you can choose Basin Express, Maslak or Sisli.
If you are looking for the right area to search for luxury real estate for sale, you should choose Sariyer, Taksim or Gait Han.
Question 10: Can a foreigner bequeath real estate to children?
One of the details that preoccupies the buyer is the possibility of real estate bequeathing to his children after his death. Is this possible? Of course, the laws that apply to Turkish citizens are also applicable to foreigners.
Ten questions we have provided you with clear and accurate answers about,you can view them when buying a property in Turkey. If you have more questions, you can contact us to provide you with the accurate necessary answers.
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