Property Investments in Turkey - We Can Assist You to Buy a House
Buy a Property in Turkey as a ForeignerUpdated on Tuesday 26th October 2021
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Foreigners who want to purchase a property in Turkey must take into account the rules and formalities required in this sector. As the legislation may seem complex in some places, it is better to discuss all aspects, from the very beginning, with our lawyers in Turkey. Our experts can advise you on the entire duration of the Turkey property investment process. We can also assist entrepreneurs wanting to start a business in Turkey by dealing with the formalities required.
Turkey real estate investment - how can I buy a house?
Real estate investments are known as successful businesses. Therefore, many foreigners turn their attention to this area and purchase properties for this purpose. Foreigners have no restrictions on the purchase of land or residential properties as long as they do not belong to the Turkish state. Here are some rules about buying a property in Turkey for foreigners:
- Once you have decided on the property you want to buy, it is recommended that you seek the legal help of an attorney in Turkey.
- The sale-purchase contract of the respective building can be checked in detail by our specialist, before signing.
- To be sure that there are no disputes with the property, it is suggested to consider real estate due diligence and see how it is presented.
- In order to retain a property, a deposit of no more than 25% of its total value is required. We can help you open a bank account in Turkey.
- Land Registry in Turkey is the institution where all properties and lands are registered. Therefore, the transfer must be announced and, of course, registered.
- Passport and other identification documents are required for a property transaction. They must be valid for at least 6 months.
Once the documents have been prepared, together with the necessary verifications, there is nothing left to do but to be signed, both by the seller and by the buyer. At this stage, it can be said that the building or land has been sold. Turkey real estate investment can be an optimal solution for those who want consistent profits and a tailor-made business. You can discuss more with our team of lawyers in Turkey.
Ask for real estate due diligence
If you are interested in Istanbul property investment, it would be advisable to ask for details about the real estate due diligence process before making any purchase. With such a procedure you will find out if the property or land was involved in litigation, if the construction complied with the required permits or if it is necessary to work on these issues. It is certainly unpleasant to buy a home or residential property with unresolved issues, so it is recommended to ask for real estate due diligence. Do not hesitate to talk to Turkish lawyers and find out what are the steps of this procedure. Details about Turkey property investment and how you can make such investments can be provided by our specialists.
Turkey real estate investment, a safe method for profits
Those interested in buying a property in Turkey for foreigners know that this type of investment is a profitable one. This sector has developed quite a lot in recent years and continues to look at both local and foreign capital. The demand for properties for investment purposes is quite high, and the offers are commensurate. Here is some information about Turkey real estate investment that may attract your attention:
- Turkish citizenship by investment is possible when acquiring properties. An investment of at least EUR 250,000 is required to enter the program.
- Over 82,000 units were sold in Turkey in May 2019, the residential housing market showing stability from this point.
- Istanbul property investment remains in first place in the choices of foreigners who want to buy a home or land or a residential complex.
- Most buyers come from Iraq, then Russia, Germany, Saudi Arabia, and Afghanistan.
- Over 155 properties were bought by German citizens in May 2019, according to the report offered by Mordorintelligence.com.
- China is one of the largest real estate investors in Turkey.
Why work with our lawyers in Turkey
Although it may seem simple to buy property in Turkey for foreigners, the complexities can arise over time if you are not familiar with the laws and rules in this sector. A Turkish lawyer can offer you legal advice and assistance throughout the process. As we have experience in this field, it is simple to get in touch with us, to send us the requirements, and then to handle all the formalities professionally. In addition, those interested in Istanbul property investment can benefit from other services designed to facilitate all operations.
If you want to know more about Turkey property investment, please contact our law firm in Turkey. We offer all the necessary support in this direction.