Apart from offering a good climate and decent property, Turkey offers great housing conditions such as low rents. Tourists go there to either purchase the property, rent it out, or simply invest in it. Furthermore, as a foreigner buying property is quite easy as the system is straightforward.
Most people would agree with the fact that Turkey offers great and affordable real estate options. In fact, the coast is cheaper when compared to Europe or Us. Reasonable offers on holiday homes, apartments and villas are easy to come by.
Types of Real Estate in Turkey
Turkey has a wide variety of properties, with apartments in good condition, being quite cheap and in different regions, being the most well-known type. There also exists a class of people who want to enjoy luxury and villa properties are a good option for them as these properties are spacious and have swimming pools overlooking the sea which can be ideal for families also. There are some who also buy commercial properties, in the form of hotels, shops, and offices, as they rent out the property and make money from businesses as well as tourists.
Real-Life Experience of Buying Property in Turkey
Buying real estate in Turkey — it has been a faithful dream of mine to buy a property in Turkey to be coastal. I always wanted to have my own home that is closer to the coast. So I tried to do a little research and thought of buying an apartment in Alanya.
In order to help me trace the right property, I approached a real estate agent. They showed me several apartments online. One of them stood out. It was a modern, two-bedroom apartment with a sea view. It had a large balcony, a shared pool, and a gym in the building.
The agent arranged a virtual tour. I could see the entire apartment online. Everything looked perfect, so I decided to buy it.
The buying process was smooth. I got a Turkish tax number and opened a bank account. The agent connected me with a lawyer who checked the property documents. This was important to make sure the property had no debts or legal problems.
I paid a deposit and went ahead to sign the purchase contract. Some weeks later, the title deed (Tapu) was in my possession. This document proved that I was the one that owned the apartment. Seeing the Tapu in my hands was a glorious feeling.
At the moment, I spend a portion of the year residing in the apartment. I rent it out to tourists for the remaining part of the year. The rental income meets my requirements and also provides me with additional money for other projects. It was one of the best decisions of my life.
Steps to Buy Real Estate in Turkey
If you want to purchase real estate in Turkey, do the following steps:
- First, try to familiarize yourself with the real estate market. Consider such factors as prices for properties, cities that are in high demand, and the various kinds of properties.
- Then, consider the money that you will set aside for this buying project. It must include fees, taxes and so on.
- Select a region. The coastal regions will be suitable for buying holiday houses, while urban centers will be ideal for rental offices.
- Engage the services of a realtor. Find the company or person who will help you with choosing the best option.
- Hire a lawyer to check the property’s legal status. They will ensure the property has no debts or legal issues.
- Once you choose a property, sign a purchase contract and pay a deposit.
Finally, complete the purchase. Pay the remaining amount, and you will receive the title deed (Tapu), proving you are the legal owner.
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