Buying Property in Turkey

Buying Property in Turkey

Some Good Reasons to Buy Property in Turkey?

Many foreigners are buying property in Turkey since 2004. Turkey, which is serving as a bridge between the Middle East and Europe, are attracted to many people with its location, nice climate and gorgeous beaches.  According to the reciprocity European people and some countries were allowed to buy property. Reciprocity rule is halted at the end of 2013. All countries citizenships are now allowed to purchase property except diplomatically unrecognized countries.

Therefore, Turkey is the most current investment region for Arab real estate investors. Better life standards, low real estate prices, participation status in the European Union and a strong growing economy is making Turkey one of the best property investment country after 2013.

Average real estate value growth is 18% in Istanbul and 16% in Antalya between 2009 and 2015. Only this growth was broken at 2008 crisis. This means high return of real estate investment. Real estate investment is steady and stable. Real estate investment option is absolutely much more attractive and less dangerous. There is no guarantee that the value of your property will increase year after year. However, those statistics gives the courage to keep the property for a while always turn profitable. Where else take out a bank loan and can repay loans with the tenant?

Most Preferable Locations for Foreigners

Antalya and Alanya were the first destinations for European buyers since 2004. Antalya Airport has 12,5 million tourist traffic in a year. There is a massive aviation link to almost all major and minor airports of Europe. A tourist after loving the climate and city, they decide to purchase a property whenever they understand the property prices are very low than their countries.

English people loves to buy in Bodrum, Didim and Kalkan area. French people buys mostly at Aegean coast like Kuşadası. Russians like Antalya and Kemer cities. Belek is a top destination for golfers all around the world. Scandinavian, Dutch and German people are mostly in Alanya.

After reciprocity rule halted, there came many Arab people to buy in Istanbul, Yalova and Trabzon. Istanbul attracts them as a great metropolis city. Trabzon and Yalova has numerous different tones of green and clean nature.

Needed Documents for Buying Property in Turkey 

If you decide to buy a property, necessary documents for real estate acquisition for foreigners is just a passport and a foto. That is all what you need as a foreigner. Other documents should be supplied by seller.

Title Deed (called Tapu in Turkish) transfer takes 2 days time if any property in the same compound sold to a foreigner. If you are the first buyer in that compound or building, you need to wait about 6 weeks time to get military approval.

Get Professional Help while Purchasing a Property

As a foreigner, you are not an authority to understand;

- How title deed transfer is applied?
- How should I pay the money if seller wants some payment cash?
- Seller tells me about "Property Declaration Value". It is much lower then I pay. Why?
- If really this property belongs to that person or not?
- and many other related questions.

It is strongly advised to buy property through an established Real Estate Agency. Professional real estate consultants will guide you, allow you to be comfortable in terms of question marks on your mind throughout the process.

It is a valuable advantage that a real estate agents searchs a property list for you which meet your criterias. They will give more information associated with issues relating to the house you want to buy such as neighbors, the traffic nearby and schools. When an offer is made, your consultant will compare the first offered price and will provide sales data for you. Explain the advantages and disadvantages of different mortgage options. They will guide you about the documents related to the sales and in many more.

Below property websites are valuable sources to begin:

Antalya Homes - A well established real estate company in Antalya, Alanya and Istanbul. Serving in 9 different languages.

Istanbul Homes - An international real estate agency located in Taksim, downtown of Istanbul. Serving in Arabic, English and Russian languages.

Aqarat Turkiya - Antalya based estate agency in Arabic. 

Antalya Property - Alanya and Antalya Property for sale listings in English and Arabic.

Finding Reliable Real Estate Companies in Turkey

Google "property for sale in Turkey" - It is good to start on internet. There are thousands of websites and millions of property listings and advertisements on internet. You may google your search keywords in different words. You will find about 5-6 nice websites giving you a detailed property information.

10 Years Rule - Did you know that only 15% of companies reaches to 10 year age in Turkey? Check on their website if this company is old and reputable enough.

Contact through website - After understanding that this real estate company has a "real office" in the location where you search for, send them a contact form. Please remember there are many websites just a website, nothing more.

Check their professionality - A professional realtor will reply you at last in 24 hours time back to you. If not, it is a signal that they are unprofessional.

See their office - When you decide to view properties, it is strongly advised to go and check their office at its place. It is fast and easy to view properties directly by picking up you from hotel. But office gives you idea if they are good in their profession or not. It should not be a luxury office, but an established office is a strong signal of professionalism. 

Share:

Facebook

Return to TC essays page