Feb 5, 2023

Houses for Sale in Turkey Istanbul on Instalments 2024

Are you looking for houses for sale in Turkey by installments?

Istanbul offers promising opportunities for those wishing for safe housing and profitable real estate investment, including buying and selling houses, in cash and in installments, which makes searching for houses for sale in Turkey during the year 2024 an option for those wishing to own property and invest.

In the Turkish real estate market, there are currently a number of offers on real estate projects that facilitate investors’ ownership with the highest possible profit, ranging from easy installments up to 20 years to start paying in 2024 with a down payment, in addition to projects that give the possibility of installments without additional interest, noting that installments are not exclusive to local investors, but there are also installment plans for foreigners.

When you decide to buy houses for sale in Turkey, you will have a wide range of options in the best areas of the city, such as Beylikduzu, Bahcesehir, and Basaksehir.

Houses for sale in Turkey to foreigners will be at the top of the list of real estate development tools in the Istanbul real estate market during the coming period, by facilitating the purchase of apartments in installments and reducing routine procedures, in addition to granting the possibility of easy installments to foreign investors, in addition to the advantages offered by the Turkish state to those wishing to invest such as exempting them from taxes and granting them Turkish citizenship if they buy a property with a specific value.

Best regions to find houses for sale in Turkey

The best regions to find houses for sale in Turkey varies depending on the time, location, and budget of investment, but there is no doubt that houses overlooking the sea top the list, and are on the rise, while houses under construction have their own advantages among offers for houses for sale in Turkey, in terms of price, of course, the time allocated for the cycle of the investment, the value of the possible down payment, and the value of the appropriate monthly installment, all these factors should be taken into account.

The projects that the government is building in Turkey, such as collective housing projects related to the Presidency of the Council of Ministers, are among the most suitable projects that can be owned, and an ideal option for purchasing houses for sale in Turkey, in addition to the fact that these projects are of high quality in terms of the materials used, and can be paid in installments close to the prices of cash payment.

Construction rate installments are a popular form of lending for foreign citizens in Turkey. Often real estate buyers do not have the ability to raise a large amount of money for the price of the purchased property to pay for it quickly, or do not want to spend all their savings right away. In this case, Turkish real estate developers often go to meet clients who offer to pay in installments of up to 5 years.

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How are houses for sale in Turkey are offered in installments?

If the option to purchase real estate in installments is offered with a maturity of between 2 and 5 years, some interest will usually be charged. The interest rate on installments is always lower than the common interest rate for mortgage loans in Turkey, is determined in consultation with the developer, and is specified in the purchase contract. The biggest advantage - when buying houses for sale in Turkey in installments - is that there is no need for additional guarantees or proof of income. Another benefit of this system - unlike taking out a mortgage - is that no additional fees will be charged.

Buying houses for sale in Turkey is a common practice in off-plan investments; As well as for projects under construction, in addition to 2 ready-made buildings. In fact, some developers in Turkey offer the possibility of purchasing in installments even for an off-plan real estate investment. The reason they do this is very simple: first, they do not need large amounts of money immediately; Secondly, they want to give incentives to investors by giving them the possibility to buy properties in installments.

Reasons for offering houses for sale in Turkey on installments

The project developer needs capital to finance the creation of his new project. Of course, the total amount is not needed immediately at the beginning of construction. Besides, he wants to make his property as attractive as possible to potential buyers and investors. Therefore, he decided to offer a number of apartments with the possibility of paying in installments. In this example, we are talking about an off-plan investment in an apartment of €95,000 (the sale price of the finished apartment), which is now selling for €75,000, plus the option to pay in installments..

In this case, €30,000 will have to be paid up front - in general, the first deposit is 40% of the purchase price - and the remaining €45,000 will have to be paid in monthly installments. If this occurs, for example, in 12 monthly installments of €3,750; No interest will be charged. So, in this case, we have free premiums.

If the installment term exceeds one year, some interest is usually charged. This is not always the case, sometimes developers offer free installments over more than a year. When the project ends - e.g. after two years - you can rent it out or resell it at the expected selling price of €95,000; Which in many cases will already be higher due to the increased demand.

Obtaining Turkish citizenship by buying houses for sale in Turkey on installments

Many years ago, the Turkish government realized the advantages of advancing the economy through real estate and driving real estate investments in the country, which makes it provide many support and facilities to real estate investors, especially foreigners. The Turkish government was interested in mobilizing huge foreign capital and pushing it to invest in Turkey.

The Turkish government has issued many supportive decisions that would attract investment forces to Turkey, including offering houses for sale in Turkey to foreigners in installments. Among these decisions was reducing fees and investment taxes for foreigners, and most importantly of all, granting Turkish citizenship through real estate investment in Turkey. The investor can obtain Turkish citizenship by purchasing one or more properties worth $400,000 or its equivalent depending on the currency exchange rate.

However, it must be noted that the investor who buys houses for sale in Turkey on installments cannot obtain Turkish citizenship unless he/she completes the amount of 400 thousand dollars. When the investor fulfills this amount, he/she, his/her spouse, and his/her children under the age of eighteen obtain Turkish citizenship in a period not exceeding 90 days, and then they obtain a Turkish passport.

Obtaining Turkish passport

One of the many reasons why investors want to buy houses for sale in Turkey and obtain Turkish citizenship is obtaining a Turkish passport because of its advantages, the most important of which is ease of movement between countries. The holder of a Turkish passport enjoys all the rights of a Turkish citizen and is also able to obtain a long-term passport, which is renewed once every 10 years. Turkish law allows dual citizenship, therefore the investor will not have to give up his original citizenship. The Turkish passport also provides the right to enjoy free health and educational services for Turkish citizens.

The Turkish passport allows you to travel to more than 128 countries and facilitates entry into the Schengen area, as it is ranked 35th around the world. It is also possible to travel to 70 countries without a visa, 51 with a visa upon arrival, and 7 countries via an electronic visa.

If you would like to know more about offers of houses for sale in Turkey, do not hesitate to contact us via WhatsApp, here. The real estate consultant will contact you as soon as possible.

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