What questions to ask when buying an apartment in Turkey

The prospect of buying real estate in sunny Turkey attracts many foreigners. However, in the process of studying the Turkish housing market, foreign citizens have quite natural questions about real estate that affect completely different areas:

• aesthetic and technical characteristics of the apartments;
• level of socially significant infrastructure in the residential area;
• investment perspectives;
• legal issues, etc.

Today we have prepared a list of answers to the most popular questions from foreign buyers.

FAQ about real estate in Turkey

• How to choose a reliable developer in Turkey so as not to end up on a long-term construction?

First of all, your choice should be directed to the construction company that already has completed residential complexes in its catalog. Be sure to read the reviews about the builder. If the developer has an impeccable reputation, has a building permit, and has already built several objects, you can safely cooperate with this company. You can read more about choosing a developer here.

• Which real estate documents need to be checked?

The most important documents for real estate in Turkey are a registration certificate (Iskan) and a certificate of ownership (TAPU). The absence of Iskan indicates that the building was erected with some violations and did not pass certification at the mayor's office. In addition, in a house without a technical passport, utility bills are much higher. It is important to check TAPU for the absence of debts and encumbrances, as well as for the fact that the name of the owner matches the data of the seller. There should be no hidden heirs either. You can check all this at the Land Registry Office in Turkey.

• What determines the pricing in the Turkish real estate market?

In order for the property you are purchasing to meet your goals and expectations, it is important to understand what questions to ask when buying an apartment in Turkey. We recommend that you thoroughly ask the real estate manager about the following factors:

• level of improvement of the area where the residential complex is located;
• transport accessibility;
• distance from the coastline;
• type and characteristics of real estate;
• availability of infrastructure on the territory of the complex;
• age of housing stock, etc.

Pricing in the real estate market in Turkey depends on these factors. Obviously, apartments in a new and just beginning to develop area will have a lower cost than in neighborhoods and suburbs with a high level of improvement.

• Why does TAPU show two apartment sizes: what is gross and net?

The most expensive resource in Turkey is land suitable for construction. Such land plots have the status of Arsa, and Tarla is already assigned to plots for agricultural activities. The Turkish Mediterranean is actively built up, and the surrounding regions are developing rapidly. Therefore, there are very few land plots with the status of Arsa in well-developed and well-maintained areas, which, of course, affected the cost of land, which is included directly in the value of the property. In view of this, the area of the land plot is divided among all the owners of the apartments and the following is written in TAPU:

• gross - the total area, which includes the balcony, wall thickness and part of the staircase;
• net - square footage of the living space.

• What documents do a foreigner need to conclude a sale and purchase transaction in Turkey and how to pay for the purchase of a home?

These are the most basic questions when buying an apartment in Turkey, which are asked by absolutely all foreign buyers. At the first stage, you must provide a passport and have the necessary amount to make a deposit. Then you will need to provide a certificate of foreign currency exchange for Turkish liras, a TIN obtained in Turkey, and make a full payment.

You can pay for the purchase of real estate in cash, using payment systems, transfer money from your Turkish account (opened in advance ) to the seller's account or make a cryptocurrency settlement.

• Is it possible to conclude a sale and purchase transaction remotely?

Remotely, you can pick up real estate, inspect the object you like online, discuss a number of important issues with a real estate sales manager. Then you will need to draw up a power of attorney for the person who will act on your behalf. But at the time of receiving the TAPU, you need to appear in person at the Land Registry Office in Turkey. Read more about remote buying in this article.

• Are foreigners provided with installment and mortgage loans for real estate in Turkey?

Turkish developers provide citizens of other countries with interest-free installments until the construction of the residential complex is completed, subject to an initial payment of 30%. The payment schedule is negotiated individually: monthly, quarterly or every six months.

The situation with mortgage lending is complex and ambiguous. After the adoption of innovations in 2022 on the exchange of foreign currency for Turkish lira, the issuance of loans to foreigners was suspended until the official clarification of the authorities. Since the exchange rate of the local currency is unstable, and foreigners usually issue mortgages in foreign currency, it is impossible to predict how much the overpayment can be. Therefore, we recommend that you clarify these issues when buying an apartment.

• How to get a residence permit and citizenship in Turkey on the basis of property rights?

We want to note right away that due to the massive influx of immigrants, the issuance of residence permits to foreigners was banned in 1169 districts. Where the number of foreign residents has reached 20% of the total population, Ikamet cannot be obtained. In Alanya, Mahmutlar, Kestel, Avsallar, Kargicak are now closed to obtain a Turkish residence permit. But it is still possible to obtain citizenship under the investment program in these areas. If the cadastral value of the purchased apartments reaches the declared minimum - $400,000, the object participates in the program for the first time and is purchased from a Turkish citizen, you have the right to apply for Turkish citizenship.

Be sure to tell the real estate sales manager for what purpose you are choosing an apartment. Then it will be easier for the specialist to navigate and offer you the best option.

Today we have sorted out the most pressing questions about real estate in Turkey. For more information, write to the chat box or contact us in any way convenient for you. The manager will select liquid apartments for you and offer the most favorable terms of cooperation and payment methods.