The Main Steps to Buying a Real Estate in Turkey
In this article, we will talk about the main steps that you need to follow in order to buy a property in Turkey. These steps include choosing the location, getting finance and citizenship by investment.
Istanbul
If you are interested in buying a property in Turkey, you can expect to go through a lot of processes and take a bit of time. However, it is a good idea to know what you are doing. This will help you avoid any pitfalls.
First, you will need to do some research. You should know what kind of property you want and the areas you are considering. Next, you should plan a trip to Turkey. Visit the city and its neighborhoods to get an idea of the area.
Second, you should find a real estate agent. A good real estate agent will listen to your needs and provide you with guidance. They should also be professional and caring.
Third, you should conduct a full inspection. A thorough inspection will reveal things you might not have thought of. It will also give you a good idea of the condition of the property. Finally, you should sign a contract.
The best way to do this is to hire a specialist. An expert can provide you with all the necessary legal support to make the transaction a smooth one.
Citizenship by investment
When you want to invest in Turkey, you have a lot of options. You can choose a property to buy, or you can lease it. The price of real estate in Turkey is expected to rise over the next few years, which makes investing in real estate a profitable and smart decision.
Turkey offers a quick and easy route to obtain a second passport through a real estate investment. This program has been designed to boost the local economy and to attract foreign investors.
To qualify for the program, you need to have a property worth at least $400,000. For this amount, you can either buy a new property, or you can purchase a property used in the real estate investment program.
Buying property in Turkey is considered an excellent investment, because the country’s real estate market is growing about 15 to 25 percent annually. In addition, the price of apartments has doubled in the last two years. It also comes with the benefit of a rental yield of between three and five percent.
Getting finance
If you are considering a move to Turkey, you may be wondering how the property finance market works in that country. To be able to get your dream home in that country, you need to have some knowledge of the process.
One of the best ways to finance a real estate purchase in Turkey is to get a mortgage from a Turkish bank. The bank will decide how much you can borrow and how long you can repay it.
Obtaining a mortgage is relatively simple in Turkey. Most banks will allow you to borrow up to seventy-five percent of the total price of the property you are purchasing. You will also need to put up a down payment of at least thirty-three percent.
In order to obtain a mortgage, you will need to find a property, have an independent valuation done, and have the bank agree to loan you the amount. It will take at least a week to complete the transaction.
Location choice
When looking for the best place to buy real estate in Turkey, there are many factors to consider. First, you’ll want to explore your options and make sure that the property you’re interested in has a good location. You’ll also need to consider whether you’re going to live there. If you’re a foreigner, you’ll also need to take into account the type of lifestyle you’re looking for.
Whether you’re buying a holiday home or an investment property, it’s always a good idea to get expert guidance. For example, if you’re planning to move to Turkey, you should speak to people who have already lived in the country. Likewise, if you’re planning to sell your property in the future, you should consult with real estate experts.
When you’re considering which area to buy in Turkey, you’ll also need to consider the amenities you’ll need. You’ll need to think about whether you’ll need a good airport, schools, shopping centers, and transportation services.
