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Real estate projects guaranteed by Turkish government

Real estate projects guaranteed by Turkish government

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After increasing demand for Turkey and the influx of foreign direct investment to the huge projects implemented by construction companies belonging to the government sector and private construction companies , the construction sector in Turkey has become one of the most effective economic sectors that play a major role in the prosperity of the Turkish economy at the regional and global levels , which indicates the role of these companies and their importance in evaluating projects by local and foreign investors .

The interest of Arab investors to move towards Turkey with the aim of investment or stability has increased , along with the increased interest in real estate investment in Turkey , and the availability of distinctive real estate projects . This coincided with a facilitations provided by the Turkish government to foreigners constantly , to encourage real estate investment , including amending certain laws and opening the door to many nationalities for direct ownership .

And due to the remarkable growth witnessed by the real estate sector in Istanbul and in Turkey in general , and especially after the issuance of the law of foreigners ownership in Turkey No. 6302 on 03 /05 /2012 , Turkey has become a major destination for Arab and foreign investors and businessmen , and the city of Istanbul has become one of the most prominent cities in Turkey , which is increasingly popular in the field of real estate purchase , followed by a number of other cities such as Antalya , Bursa and Yalova .

 

What does a housing project with the guarantee of the Turkish government mean ? 

The term construction company projects affiliated with the government sector refers to those projects that are based on a partnership between construction companies affiliated with the Turkish government and private companies , where the state construction company provides land that is naturally owned by the state , while the construction company builds and executes the project that is under the supervision of the government Turkish in terms of building quality and accuracy in appointments and specifications , and in most cases the executing agency is a reliable and strong company .

 

RH 194 - Under Construction project in a special area near to the historic city

It is a housing and investment project that built on a land area of 41.000 m2 .

The project consists of 10 blocks that contain 125 residence units ranging from 1+1 to 6+1 , in addition to 23 commercial areas .

The project offers residential units with areas between 63 m2 and 348 m2 .

The project , which will be located in the historical peninsula as of its location , sets out with the goal of carrying historical buildings to the future .

31.000 m2 of the project is full of both natural and historical beauty , has been set aside for breathtaking , uniquely designed landscapes .

In this project , you don’t have to worry about transportation in any way , in which it offers an easy access to different transportation options .

In this project , you will be in the heart of Istanbul and yet away from its chaos .

The project located in Bakirkoy neighborhood that includes shopping mall , hospital and it is close proximity to Florya and Fatih districts .

The project is located in a central district with easy access to locations all around Istanbul and it is situated right at the heart of life with an extensive transportation network including alternatives such as sea , land and mass transportation as well as nearby educational institutions , hospitals and shopping malls .

For more details about the project :RH 194

 

What are the measures taken by the Turkish government to ensure the projects of its construction companies ?

Turkish government guarantees the right of the buyer to all phases of the project , starting with the pre-sale stage , in which the Turkish government follows up on all licenses that the construction company extracts to implement this project . It also checks all promotions on which the project is marketed . In addition to visiting the project by Turkish government experts to inspect the typical apartments in sales offices before the project starts for sale .

The procedures also include the selling stage , in which the right of the foreign investor is guaranteed through :

Attestation contracts are attested by the notary , and the Turkish government is a party to them , which means that you own the property directly from the Turkish government . It also translates all company contracts with a sworn interpreter . In addition to that the payments and installments are completely transferred to the bank accounts of the Turkish government directly , and are not transferred to the establishment company except in conjunction with the completion of construction and the progress of the project structurally , and then the Turkish government transfers these amounts in installments that are not completed until after the completion of the project full to the creating company . This type of joint venture between the government and the private sector is known globally for the joint sector , noting that government construction companies carefully choose well-known private real estate construction companies that have a long history and confidence in the market .

 

What are the advantages of real estate projects belonging to the Turkish government sector ?

  • Construction projects of the governmental sector combine the advantages of the public sector and the advantages of the private sector , including quality in construction , complete reliability and integrity of legal procedures in addition to elegance and modernity in engineering designs and lack of fraud in finishes .

  • This is in addition to the fact that the property is safe from any possible consequences in delivery , licensing , and bankruptcy , thus avoiding the possibility of working with unstable or unreliable companies .

  • In addition to the strength of the guarantee in government sector projects , so that there are no concerns related to the project stumbling or delivering other than the required specifications .

  • Also , some government projects are often selected for some distinguished areas .

  • Prices in government sector projects are considered moderate , studied , and suitable for the market . Rather , government sector projects create a balance in the real estate market . For example , in the event of a rise in the price of the dollar , private companies raise prices according to the price of the dollar , while construction projects of the government sector stabilize their prices , which leads to attracting a large class of investors towards this type of project , and of course Construction companies to cut their prices to accommodate the real estate market .

  • In many cases , government sector projects are provided with other service facilities that the state establishes ( such as parks and health centers in addition to mosques , schools , and sports clubs ) .

 

RH 150 - Luxurious residential and office project ready to move in Bahcelievler 

It is a residential and office project was built on a land area of 36.000 square meters and it consists of 6 blocks with 441 residences , 123 offices and 28 commercial units .

The project offers apartment types ranging from 1+1 , 2+1 , 3+1 with terrace , 4+1 duplex and offices .

The project located on the European side of Istanbul , in Bahcelievler district , one of the fastest growing areas in Istanbul .

The project located at an important location in Istanbul where the flow of business meets the flow of life .

The project located near to many health and educational institutions and shopping centers that can meet all your needs .

The distinctive location of the project next to Ataturk Airport , E5 Highway , and it is easy accessible by metro and metrobus .

For more details about the project : RH 150

 

The most prominent construction companies that Turkish government cooperates with in real estate projects :

  • Ağaoğlu inşaat Company :

Ağaoğlu construction companies started in 1981 through Akdeniz company that works in the field of construction , and continued to work hard until it became a famous group of companies in the field of construction , and Ağaoğlu companies have to this day built more than 30.000 apartments , and it was able to implement 16 projects through an administrative staff with highly experienced and graduate studies , which made it one of the largest distinctive construction companies in Turkey .

 

  • Emlak Konut Company :

It is one of the largest real estate developers in Turkey as it belongs to the Turkish Urban Development Department and is considered as the hand of the state , and it is considered as one of the huge engines of the economy in Turkey where the company’s capital reaches more than 3.8 billion Turkish liras , which is about one billion US dollars .

Emlak Konut Company was established in 1953 as an attached company to Emlak Bank , this company is specialized in housing projects in Turkey with the guarantee of the Turkish government , and since the establishment of this company and its business is increasing significantly , therefore Emlak Konut is trying to take its future steps depending on the needs of the consumer , and it seeks to fill its real estate portfolio and develop it continuously by purchasing lands widely .

The company is involved in the establishment and organization of the Turkish real estate , which established between 2003 and 2017 approximately 130.000 housing units spread over 132 projects , and this figure is huge compared to any other construction company .

The company seeks to achieve a future vision for the property in Turkey based on the consumer’s need and requirements , which was a main driver for achieving the standard of real estate with high quality and appropriate prices and with a guarantee of delivery , and this is what is currently called ( projects guaranteed by the Turkish government ) .

 

  • Eroğlu Property :

The company is based on commercial experience of more than 30 years in the field of real estate development , where the company is working to establish residential complexes , shopping centers and commercial real estate .

To this day , the company has developed projects in a number of regions in Istanbul , such as Sariyer , Beylikduzu , Umraniye , Merter , Kagithane , Florya , Buyukcekmece , Seyrantepe , Tekirdag , in addition to the cities of Antalya and Bursa .

 

  • MAR YAPI İNŞAAT :

The company , especially in Istanbul , during the past five years , has signed the buildings of modern architectural style in harmony with the surrounding nature , and the company is also building projects with recreational departments to increase the standards of quality and luxury .

 

  • Keleşoğlu inşaat :

Keleşoğlu company is one of the leading companies in the field of real estate in Turkey with more than 35 years of experience , where it won awards on an international level due to its construction of many luxury housing projects , office buildings and shopping centers .

The projects of this company are distinguished by providing profit to the investor , high quality of life and architectural designs that preserve the beauty and cleanliness of the environment .

 

RH 104 - Grand palace project with view to the Bosphorus in Istanbul 

It is a housing project was built on a land area of 111.263 square meters , and there are 1.712 independent units in the project .

The project includes houses with various concepts and sizes , a hotel and branded residences to be operated together with the hotel . The project also includes artistic and cultural areas , kids zones and social premises as well as commercial areas .

The project located on the European side of Istanbul , in Zeytinburnu district , on the shore of the Marmara Sea , just outside the walls of the ancient city .

The project located at the very intersection of all new transportation systems , road, sea and rail systems of Istanbul right beside the Historical Peninsula .

In this project , the sea will become part of your daily life . You can reach the marina with only one minute’s walk from your home over the footbridge directly connecting the project to the shore .

For more details about the project : RH 104

 

What are the advantages of buying a property in Turkey ? 

  • Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .

  • Obtaining a residence permit , where foreigners who own properties in Turkey , whose price is less than $ 250.000 , are granted a residence permit that is renewed annually . Real estate residence permit in Turkey is granted to the landlord , his wife , and his children under the age of 18 .

  • Real estate in Turkey is the cheapest real estate investment in Europe , where real estate prices in Turkey are considerably cheaper than those in Europe , with similar features in infrastructure , and similar in structure of developed European countries .

  • Real estate investment in Turkey provides a profitable investment return , based on the economic activity and rapid urban development , and the strength of tourism in Turkey , which is best reflected in the periods and tourist seasons , through the demand for rental homes during those seasons distributed throughout year .

What are the steps to buy property in Turkey ? 

  • First , you must choose the safe property that meets your request and needs and corresponds to the budget allocated for the purchase , through :

  • Ensure that the real estate developer in Turkey is a well-known company that has implemented a number of different projects previously .

  • Study the location of the project , whether it is for investment or residential , and know the services available in it and its proximity to services and public transport .

  • Study the views of the project , whether it is internal to the green areas in the project and the swimming pools , or external views of the city or the sea or forest or others .

  • Compare the prices of the project with the prices of the existing projects in the area , and find out the reasons for the price difference in case of a clear difference .

  • Ensure the quality of the materials used in the finishing and cladding , which are written in the contract for the selected project , and that they conform to the typical apartment in the project .

 

Second : Knowing all the costs and expenses necessary to buy a property in Turkey :

  • The purchase of real estate in residential projects in Istanbul and in Turkey in general , which includes various services and facilities , such as swimming pools , clubs , gyms , security system and outdoor gardens , entails a monthly payment called Aidat , which is calculated according to the area of ​​the property ( on average between 2 TL to 4 TL per square meter ) , this amount varies from one project to another depending on the existing services and the level available for each project .

  • Annual taxes for the property , which are calculated depending on the area and the municipality to which the project belongs , whether in Istanbul or in other cities , so that it is estimated annually between 0.003 to 0.006 of the annual evaluation of your home provided by the municipality .

  • Tapu fees or title deed , where an estimated 4.4% of the value of the property purchased is paid , usually shared between the buyer and the seller .

 

Third : After you have a complete idea of ​​the project and its features and the costs to buy the property , it is necessary to follow the routine steps to complete the procedures of ownership of the property in Turkey , which are as follows :

Get your vergi numrasi or tax number from Tax Department in Istanbul or the city where you purchased the property . This number is given to every foreigner in Turkey , to facilitate all legal matters and transactions , and can be obtained through the passport .

Open a bank account in one of the Turkish banks , to transfer funds from the country of residence to the account in the Turkish bank .

Upon signing the purchase contract between the buyer and the landlord , the following documents are required  :

  • A certified copy of the buyer's passport and a recent personal photo .

  • Obtaining a security approval , and obtaining security approval is required for all foreigners at the first purchase of the property .

  • Ensure the complete documents of the project construcion company , such as : the license to establish the company and its record in the Chamber of Commerce .

  • A copy of the property ( title deed ) in case the property is ready for delivery , to be transferred from the name of the construction company to the name of the buyer immediately after the payment of the agreed payments , and is extracted deed or title deed by the Land Registry Office within the area where the project .

  • Notarization of the contract in the case of the purchase of real estate within the project under construction at the notary or Noter to give the official version of the contract .

  • Obtain an earthquake and natural disaster insurance policy ( DASK ) , as most Turkish banks offer earthquake and disaster insurance for real estate , which is mandatory unlike general home insurance .

Eresin Project