How to buy a house in Turkey? If you decide to buy villa with a pool in Turkey in Antalya, Alanya, Istanbul, or any other popular destination in Turkey, these tips are for you. In this article, we have collected tips to help you buy Turkish property.
Why should you contact an agency?
The process of buying property abroad is different from if you are going to buy an apartment in your own country. Significant differences are related to knowledge of the laws and understanding of the processes of registration and subsequent ownership.
Experts understand all the intricacies of buying real estate in Turkey or the resort cities of the country, which are necessary for your investment to be safe and bring the desired result. Usually, a trusted agency stays in touch with clients even after the purchase process to ensure the foreign buyer has no problem.
How should you look?
Search clearly with precise preferences. We recommend that you do a clear search according to your requirements, budget, and lifestyle you would like to lead in Turkey. The real estate market in the country is very active, and new offers appear every day – it is better to wait for your option than to buy an apartment or house that does not quite meet your expectations.
This is another reason to turn to agents: you can miss out on a property since continuous monitoring is extremely difficult if you are busy with other things.
How to choose an agent?
Since acquiring housing through an agency is recommended to foreigners, the question naturally arises: how do you choose an agency?
Do not be afraid to try and compare – that’s the main advice. If you feel like you’re not on good terms with your agent or your realtor keeps offering you something completely different from what you’re looking for, don’t be afraid to say goodbye. It is normal to change a specialist if something does not quite suit you.
Benefits of real estate in Turkey
Some of the benefits of real estate in Turkey are obvious; others are hidden from most people. Turk.Estate has found the top 10 reasons to invest in real estate in Turkey.
- People visit Turkey with different income levels. Vacationers come here who want to spend a not-too-expensive vacation, and pretentious tourists who are used to spending a lot of money on vacation. Having your apartment in this country to rent it out is beneficial because there will always be someone who wants to rent it.
- You can rent a house or apartment in Turkey for decent money: from 3 to 15 percent of the cost of housing.
- Cheap villas and apartments in Turkey. Offers from developers are diverse, so that you can find many budget options.
- A small tax on the purchase of housing in Turkey (about 4% of the cadastral value of the real estate) and a very small tax on owning it (from 0.1 to 0.2% of the value of housing) also make investing in Turkish real estate profitable.
- You can resell a villa or apartment and make good money on it because housing in Turkey is not getting cheaper.
- People can get a Turkish ikamet (residence permit) based on owning real estate in Turkey; in this case, the benefits of real estate in Turkey are undeniable.
- Utility bills in Turkey are lower than in any other European country. At the same time, everything is done in the new residential complexes to make the residents of the houses feel as comfortable as possible. The infrastructure of the residential complex is at a high level, as in the countries of Western Europe: there are swimming pools, bars, children’s playrooms, barbecue areas, saunas, Turkish baths (hammams), and more.
- Living in Turkey, if you have your property in the country, is economical because, in this case, you do not need to pay rent. Food, clothing, and entertainment are inexpensive; most medical services are insurance-free.
- Buying unfinished housing in Turkey, you can save a lot. Regardless of at what stage of the house construction to buy an apartment, you can gain 20 – 30% of the property’s value.
- Residential or commercial real estate can be borrowed. You won’t have to overpay a lot of money since, in Turkey, the interest rate from banks is low.