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Finding Property for Sale in Turkey

June 25, 2024

البحث عن عقار للبيع في تركيا

In recent years, the search for property for sale in Turkey has increased significantly, especially after the Turkish real estate sector achieved great successes that played a role in the economic boom and drove the country's development forward. This has made investors' eyes turn towards it exceptionally every year.

Learn about the most important steps you need to take to ensure you get a property that suits your budget and specifications. Also, learn about some factors that play an important role in determining the property's price, so you can consider them. We will conclude our article with a set of tips and mention the advantages of real estate ownership in Turkey.

Skyline Real Estate wishes you a useful read.

Steps to Find the Best Property for Sale in Turkey

The process of owning property on Turkish lands, whether residential or commercial, involves several steps that make your search easier and narrow down the available and suitable options for you:

Deal with a Reliable Real Estate Company

This is the most crucial step as it will determine your success in finding the right property for you. Therefore, research well and choose one of the reputable companies known for their integrity in dealings. Such a company will assist you and offer many services from the moment you arrive in Turkey until you purchase the property and register it in your name. This will save you a lot of effort and time. They will also provide you with real estate consultations from experts in the Turkish real estate field and have a team of lawyers to follow up on legal procedures and ensure your rights are protected and not subject to fraud.

Inspect the Property Thoroughly

It is essential to visit the property's location to verify the quality of the building materials used and ensure all the specifications agreed upon with the owner are met. You can also appoint a real estate company to do this as they offer field tour services.

Obtain a Tax Number

A property purchase cannot be legally recognized without obtaining a tax number from the real estate office. This number is granted to every foreign person who does not hold Turkish citizenship to facilitate government procedures and is also crucial for obtaining Turkish citizenship.

Sign the Purchase Contract

After completing your search for property for sale in Turkey and choosing the right one, you will move to the step of signing the purchase contract with the previous owner of the property. The contract will be drafted in both Turkish and your native language.

To issue the property deed, you need to provide the following documents:

  • A copy of your translated and notarized passport.
  • Two recent personal photos.
  • A copy of the original property deed before it is transferred to your ownership.

Pay the Property Tax

The property tax, which amounts to 4% of the property's value, is split between you and the seller, with each paying 2%. This tax is paid only once. There are also some additional fees you need to pay, such as passport translation fees, fees for obtaining the new property deed, fees for submitting the property transfer application, and municipal fees that are paid annually and amount to 0.003% of the property's value.

Factors Influencing Property Price

Knowing the following factors will ease your search for property for sale in Turkey. You will understand where to look for a property that fits your budget and what specifications you can get with the amount you have:

Property prices vary between low and high based on several factors, including:

Location

The location significantly impacts the property's value. A property in a lively area that meets all your needs will have a higher market value compared to properties located in remote or deserted areas. Proximity to main roads, transportation networks, shopping centers, cafes, restaurants, malls, schools, hospitals, and metro stations also plays an important role in increasing or decreasing the property's price.

Property Specifications

It is known that larger properties are priced higher than smaller ones. The age of the building, its readiness, and the quality of materials used in its finishing are also factors that determine property prices and contribute to price differences.

Important Tips for Real Estate Ownership

To avoid fraud and deception, we advise you to consider the following tips after completing your search for property for sale in Turkey and before signing the purchase contract:

  • Verify the eligibility of the person responsible for selling the property you intend to buy, ensuring they have the right to execute the sale.
  • Check for the existence of any other owners of the property.
  • Ensure the property is free from any type of mortgage.
  • Visit the property in person to verify the authenticity of its specifications and its suitability for your intended purpose.
  • Obtain a copy of the ownership contract to ensure that the previous owner has not transferred ownership or has any outstanding rights or taxes.
  • Verify that the data and specifications in the title deed (tap) match the property's actual specifications.

Advantages of Buying Property in Turkey

If you want to own property in one of the Turkish states, you will find that properties in Turkey have distinctive features and that the process of real estate ownership offers many advantages, including:

  • The Turkish government's incentives for foreigners wishing to own property on its lands, including tax reductions for real estate investments.
  • Numerous options for real estate investment, such as buying property in a project under construction, purchasing an apartment and renting it out, or buying an old property and renovating it.
  • Obtaining a real estate residence permit for the owner and their family, provided the property is valued at least $250,000.
  • The possibility of obtaining Turkish citizenship and a Turkish passport.
  • High-quality properties with construction materials and designs that reflect the latest architectural trends found in many European countries.
  • Turkey's robust and modern infrastructure.
  • Most Turkish properties comply with seismic safety standards.
  • The relatively low cost of living in Turkey compared to European countries and even some Arab countries.
  • Turkish properties offer profitable investment returns, thanks to Turkey's strong tourism sector.

Skyline Real Estate has provided you with information to assist in your search for property for sale in Turkey, from the steps of searching and purchasing to factors that determine property prices and the advantages of real estate ownership in Turkey.

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البحث عن عقار للبيع في تركيا
Finding Property for Sale in Turkey

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