30 questions and answers about the real estate sector in Turkey 2023 AD
In this article, we will present to you most of the questions that we received about the real estate sector in Turkey, so if you are interested in real estate investment in the Turkish real estate market, you must see all the questions that help you when proceeding with the purchase procedures on Turkish lands, regardless of whether you want to Buying an apartment in Turkey with the aim of obtaining Turkish citizenship or with the aim of reaping financial returns.
Table of Contents
- Do foreigners have the right to own real estate in Turkey?
- What are the best Turkish cities for real estate investment?
- Is it possible to buy a property in Turkey via the Internet?
- What is the importance of buying a property in Turkey through a real estate company?
- What are the prohibited areas from buying a property in Turkey?
- What are the conditions for foreigners buying real estate in Turkey?
- What are the types of residential real estate in Turkey?
- What are the types of commercial real estate in Turkey?
- What is meant by penthouse and what are its features?
- Is it possible to buy an apartment in Turkey in installments?
- What are the pros of buying a duplex apartment in Turkey?
- What papers are required to buy real estate in Turkey?
- What is the time period required to obtain the title deed?
- What are the factors affecting real estate prices in Turkey?
- Is it possible to obtain Turkish citizenship when buying a property?
- Is it possible to obtain real estate residence when buying a property?
- Is a residence permit a requirement if I want to buy a property?
- Is there a specific number of properties that can be purchased in Turkey?
- Is it recommended to buy an apartment in residential complexes?
- How long does it take to get a title deed?
- Is buying a property in Turkey a profitable investment?
- Are there taxes on a foreigner when buying a property in Turkey?
- Is it possible to obtain a mortgage to buy a property in Turkey?
- What are the options available for paying money when buying a property in Turkey?
- What is the expected return on investment for buying an apartment in Istanbul?
- What are the conditions for obtaining real estate residency?
- What are the advantages of buying apartments under construction in Turkey?
- What are the pros of buying a ready apartment in Turkey?
- Is it advisable to buy a villa or buy an apartment in Turkey?
- IstHomes real estate company always answers your questions:
Do foreigners have the right to own real estate in Turkey?
Certainly, foreigners can easily own real estate in Turkey, especially if the country of origin belongs to the nationalities that have mutual rights with Turkey. Here, Turkey froze its diplomatic relations with five countries, namely: North Korea, Armenia, Cuba, Greek Cyprus, and Syria.
What are the best Turkish cities for real estate investment?
The city of Istanbul topped the list of the best-selling Turkish states for real estate with 235 thousand and 55 apartments, and its share was 17 percent of the total sales of the real estate sector, and the capital, Ankara, came in second place with 131 thousand and 161 apartments, or 9.5 percent of the total sales in all cities of Turkey.
Is it possible to buy a property in Turkey via the Internet?
The investor can buy a property in Turkey without being present on the Turkish lands, through the help of the real estate agent, as he performs all purchase transactions.
What is the importance of buying a property in Turkey through a real estate company?
Real estate investment in the real estate sector in Turkey is easy when communicating with a licensed real estate company and an expert in the field of buying and selling real estate, as the real estate company is responsible for providing you with all the necessary information regarding the purchase process and sale options available in the Turkish real estate market.
What are the prohibited areas from buying a property in Turkey?
Turkish law stipulates that a foreigner wishing to invest in real estate in Turkey should not buy a property located in military areas or that have security facilities, as well as in historical areas, forests, agricultural lands, and areas threatened by natural disasters such as: earthquakes and others.
What are the conditions for foreigners buying real estate in Turkey?
The Turkish government has set several conditions for real estate investment in the real estate sector in Turkey, including:
The investor must have a valid passport.
The age of the investor shall not be less than eighteen years.
His criminal record is free from any crimes.
Proof that he has a monthly income to support himself.
To have health insurance.
Not be one of the nationalities prohibited from buying an apartment in Turkey.
What are the types of residential real estate in Turkey?
The real estate sector in Turkey is characterized by the fact that it includes a variety of properties, including:
Marine, rural, historical villas of different sizes.
Penthouses, townhouses and twin houses.
Triplex apartments.
Studio apartments.
Hotel apartments.
What are the types of commercial real estate in Turkey?
The following are the most prominent commercial real estate in Turkey:
Shops and stores.
shopping centers.
office units.
Hotels.
Restaurants and cafes.
Educational and medical buildings.
What is meant by penthouse and what are its features?
Penthouse apartments occupy the upper floor of large buildings or skyscrapers, occupy the entire surface area, and contain an outdoor terrace. They are also considered luxurious and expensive apartments, as they are isolated from the rest of the apartments, and their features include:
It provides stunning views due to its location on the high floors.
Enjoy complete privacy and luxury.
Most of them come with large balconies, which are perfect for entertaining or relaxing.
Huge returns can be achieved when rented during the tourist seasons.
Is it possible to buy an apartment in Turkey in installments?
You can now distribute your payments if you want to buy an apartment in Turkey in installments, and enjoy the following advantages:
The installment system gives the investor the opportunity to live in his own house or rent it out and achieve returns.
The installment system allows owning the property without any financial burdens.
The possibility of owning a property without the need for a large sum of money at once.
What are the pros of buying a duplex apartment in Turkey?
There are many advantages that you will get when living in a duplex apartment, including:
You can rent one section and live in the other.
Rent both sides and reap higher returns.
Duplexes are often valued at a higher rate than larger homes, so they can be a good investment.
They provide more privacy than normal residential apartments.
What papers are required to buy real estate in Turkey?
There are documents that must be available to complete the purchase process, as follows:
Bring your Turkish passport or ID, if you are a Turkish citizen.
Provide a tax number, which can be obtained from the local tax office.
Sale contract which must be signed by a notary.
The title deed or known as the tapu.
A personal photo of the owner and two photos of the investor.
What is the time period required to obtain the title deed?
Naturally, the process of obtaining a tapu does not take a long period of time, ranging from three days to a maximum of one week.
What are the factors affecting real estate prices in Turkey?
There are many reasons that lead to the high prices of apartments and residential real estate in Turkey, including:
The location of the property.
The area of the property.
Age and condition of construction.
The interior and exterior finishes of the building.
Real estate privileges.
The proximity of the property to the vital centers of the city.
Is it possible to obtain Turkish citizenship when buying a property?
One of the most important features of the real estate sector in Turkey is that by purchasing an apartment or property with a minimum value of 400 thousand US dollars, you can apply for Turkish citizenship, and you can also grant it to all members of your family, your wife and children under 18 years of age, in addition to that you can obtain a passport Turkish after being granted Turkish citizenship.
Is it possible to obtain real estate residence when buying a property?
Certainly, the property you purchased entitles you to obtain a real estate residence permit with your family for a period of one year, which can be easily renewed.
Is a residence permit a requirement if I want to buy a property?
Mostly, if your intention is to buy a property, it does not oblige you to obtain a residence permit, but you may need it later to own the property in order to use it later.
Is there a specific number of properties that can be purchased in Turkey?
Of course not, you can invest in real estate in an unlimited number of properties in Turkey, as it is not restricted to a specific number.
Is it recommended to buy an apartment in residential complexes?
Certainly, especially since residential complexes provide many public facilities and services for their residents, and are characterized by 24-hour security.
How long does it take to get a title deed?
It ranges from three days to one week as a maximum.
What is the future of the real estate sector in Turkey?
The future looks brighter, with a growing population and a booming economy.
Is buying a property in Turkey a profitable investment?
Certainly, especially since real estate in Turkey has great advantages that compete with European real estate.
Are there taxes on a foreigner when buying a property in Turkey?
Yes, there are taxes, but they are relatively low compared to real estate taxes in other countries.
Is it possible to obtain a mortgage to buy a property in Turkey?
Certainly a mortgage can be obtained.
What are the options available for paying money when buying a property in Turkey?
There are many options, including bank transfers in dollars or Turkish lira.
What is the expected return on investment for buying an apartment in Istanbul?
In general, the rate is estimated at 10% annually.
What are the conditions for obtaining real estate residency?
Buying a property in Turkey with a minimum value of $75,000 in major states such as: Istanbul.
In the event that you want to buy a property in the smaller Turkish cities, it is necessary to purchase a property worth 50 thousand US dollars to obtain a real estate residence.
What are the advantages of buying apartments under construction in Turkey?
One of the most encouraging features of buying apartments under construction in Turkey is that the prices of apartments are usually 20-30% lower than the prices of similar apartments that have already been built.
What are the pros of buying a ready apartment in Turkey?
There are many advantages, including: there is no need to wait for the construction to be completed, the apartment is furnished and equipped, and the price is often lower than the off-plan purchase price.
Is it advisable to buy a villa or buy an apartment in Turkey?
Definitely buying a villa in Turkey, especially since you can rent it out and reap many times more financial profits than renting an apartment in Turkey.
IstHomes real estate company always answers your questions:
We are keen to constantly monitor various and important topics.
We answer your inquiries aboutTurkish citizenship.
We talk aboutreal estate residencyand other residencies.
We share with you the steps tobuy real estate in Turkey.
We offer you information about real estate investment in Turkey.
We simplify the procedures that you must take when buying a property in Turkey.
We highlight the most important areas for buying apartments in Istanbul.
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