Feb 5, 2023

7 Steps to Buy Real Estate in Turkey

Turkey is famous for its hospitality and advantageous geopolitical position, which makes it an important center for attracting local and international investors in a variety of sectors, including tourism and real estate, which has greatly aroused investor interest. One of the most important reasons why investors prefer to buy real estate in Turkey is certainly the beauty of its nature, as it's located between Asia and Europe, with a high percentage of young people and labor, especially the values that distinguish Turkey, which made it the focus of the attention of foreign investors in general those who want to buy real estate in particular, which made it an open country to investors and foreign capital.

Before taking your first steps to buy real estate in Turkey, there are a few steps to consider. The steps for choosing a real estate market is to first determine the city and then find the perfect neighborhood to buy real estate in Turkey. Many of the best places to invest have similar characteristics.

According to the real estate market trends and statistics, it will be easier for you to find a suitable property in such a location, when you buy real estate in Turkey, as you can rent or resell the apartment which will bring you many profits.

Steps to buy real estate in Turkey

1 - Compare the options offered

It is certain that you will have many options and models that include varying specifications among them when you decide to buy real estate in Turkey. This matter will be very important for the buyer because the options in front of him will decrease and he will be able to limit his options to specific properties.

After a number of options are available to the buyer, he will now be able to compare the offers presented to him on the basis of price, payment options, geographical location and the availability of services in the surrounding area of the property.

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2 - A good search for a property with the required specifications

There are many different forms and methods for research in this regard. You can search on your own or you can use professional real estate offices that can save you time and effort and come out with results that will be better than what you will get, and this is due to the extent of professionalism and the ability of the offices to obtain attractive results for you with the exact specifications you need.

In general, you should search well for the appropriate property for the financial budget that you have allocated to purchase the property, while searching for real estate companies and brokers that you will deal with, and it is preferable to communicate with them and collect more necessary data and information

3 - Prepare all documents required for purchase

There are several important documents when you decide to buy real estate in Turkey, which do not require any effort or difficulty to prepare, and they are:

A copy of the buyer's passport translated into Turkish.
Two recent personal photos of the buyer.
The buyer’s tax number is obtained from the tax department located in Istanbul or the city in which the purchase was made. This number is given to every foreigner in Turkey to facilitate all legal matters and transactions.

4 - Inspection before buying real estate in Turkey

After you select a number of appropriate initial options; It is preferable that you visit Turkey and take a field tour to inspect the real estate you have chosen on the ground and match the announced specifications with the realistic specifications.

5 - Ensure legal procedures

This procedure is after you have finally chosen the property you want, so it is preferable to check the legal status of the property, the presence of the real estate appraisal report, verify the title deed department, and make sure that the property has no debts or problems that could hinder the process of buying it or expose you to loss or Uncalculated fine, and at this stage you can seek the assistance of an expert legal agent who will conduct the legal study.

6 - Buying real estate in Turkey

After ensuring the proper legal status of the property, agreeing on the full terms of payment and delivery, and after consulting with your legal agent, you can pay the required amount or part of the amount according to the agreement, and follow up the procedures for transferring ownership.

7 - Receipt of the property title deed (Tabu)

This is the final step to complete the process of buying real estate in Turkey, as this document proves your ownership of the property, after completing the cost of your financial and legal obligations towards the state and towards the real estate company, with the need to ascertain the type of title deed, whether it is temporary or permanent.

The best neighborhoods in Istanbul to buy real estate in Turkey

Being the commercial and economic hub, Istanbul is an incredibly diverse city. Therefore, any working or retired expat moving to the country can explore the many areas of Istanbul to find an ideal destination for real estate investment and to buy real estate in Turkey. Over the course of two decades, Istanbul has undergone a drastic change in aesthetic appearance. It has expanded outward to beautiful surroundings, providing expats with the benefits of city life without any of the hassles. Here are some of the popular neighborhoods in Istanbul that you can consider for real estate investment.

Nisantasi

Nisantasi is an expensive neighborhood with fine restaurants and shops. Good options start at $400,000. One of the great things is that investing in Nisantasi will make you eligible for the Citizenship by Investment Program.

Cihangir

Cihangir is an artistic part of Istanbul where you will find artists and musicians streaming all over the city. If you are looking for a place where you are close to everything, you can search for properties in Cihangir.

Karakoy

Karakoy is called the "hipster" side of Istanbul. First of all, there are many cafes and restaurants in the streets, hundreds of people are enjoying life and living their modern lifestyle. Karakoy can really give you the life style that you dream of when you buy real estate in Turkey.

Taksim

Taksim is one of the most central districts of Istanbul. This is where you will find a lot of ancient architecture. Some of the oldest mosques in Turkey can be found here. As it is an old district, the architectural quality may differ from its neighbourhoods.

Etiler

Etiler is perfect for you if you are looking for some luxury. There are many stylish cafés, popular stores and beautiful offices in this area. You can find a villa with a view of the Bosphorus or a luxury apartment in Etiler. However, note that it is one of the most expensive districts in Istanbul.

Other places in Turkey to buy real estate

Apart from Istanbul, there are other destinations that offer profitable real estate investment opportunities for foreigners.

Antalya

Antalya is located in southern Turkey and is one of the most popular summer destinations for both locals and expats. According to data from the Turkish Statistical Institute (TUIK), today more than 100,000 foreigners live in the city.

With blue flag beaches, pleasant climate, and large expat community, Antalya is one of the best places in Turkey to buy property. While it has the amenities that a major city has, it also has the vibe of a coastal city. Antalya is the third most popular destination among expats who have decided to move to Turkey.

Ankara

Ankara, the capital of Turkey, is another favorite among expats. Real estate prices in Ankara are cheaper than in Istanbul, so if you are looking to live in a big city but do not want to invest large sums, you can also consider Ankara, it also offers many shopping options.

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