Contracts for the purchase of real estate in Turkey 2020
Recently , investors looked to Turkey in general and the city of Istanbul in particular , due to its urban activity and remarkable growth , as the real estate sector in Turkey achieves guaranteed profits and returns , and projects and towers grow in Istanbul day after day .
Real estate investment was and still is one of the most profitable types of investments , due to the basic human need for housing , but anyone who wants to invest in this real estate field in Turkey must be fully aware of all its aspects , or buy real estate through one of the reliable real estate companies in case that he does not have experience in real estate or in the country , this will guarantee him investing his money in a profitable environment , and patience and not to rush to achieve the best profit must be known , also it is necessary to know the great diversity in this field and determine the type of real estate investment that desires after doing a balance with the financial amount that he would like to invest .
Day after day , the demand for buying real estate in Turkey of all kinds increases , due to the characteristics of the country in Turkey , as it is a suitable environment for investment and housing , and for the facilities and incentives provided by the Turkish government to investors and real estate owners , as the Turkish government supports the field of real estate investment , after attracting several companies from all countries of the world , and in parallel provided advantages and facilities for those who invest or buy real estate in Turkey , after the real estate market witnessed great growth , especially after the change of the property law for foreigners in 2012 , which allowed them to own property in Turkey , and here 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 .
Special residential projects in Istanbul
RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest
Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .
The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .
The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .
Maslak is one of the main central districts of Istanbul and it is one of the fast-growing areas of the city .
Maslak area is close to transportation links that will take you to all parts of the city in a few moments , and you can easily access the main areas and sights of the city .
Maslak is the ideal area for investment in Istanbul , where it promises high profits and high returns on investment in a few years .
The project is located only minutes away from Taksim and Levent , not more than 5 minutes from Bosphorus , and 25 minutes from Istanbul's third airport , which gives it strategic and investment importance .
The project is located near the metro station and public transport .
The project is located in the Cendery Valley , among the regions of Istanbul that have gained the highest value .
The project is located next to Maslak and Levent , which provides a pleasant life with transportation opportunities .
The project attracts attention through its location close to shopping centers , arts , health facilities , transportation and education centers .
All the project details in this link : RH 163
Real estate purchase contracts in Turkey
The decision to buy a property is a very important decision that you must study well and search for all available options and then choose the best one for you , which meets your needs and serves your goal .
And before you buy a property in Turkey , you should know that the contracts for buying real estate in Turkey are organized for foreigners according to specific laws , and you must choose a reliable real estate consulting company to carry out the process of buying a property in Turkey without any problems or complications .
There are many things that a foreign buyer must do before starting the process of signing real estate purchase contracts in Turkey .
Before signing a real estate purchase contract in Turkey , the foreign buyer , with the assistance of the real estate consulting firm , must do the following :
- Ensure the integrity of the information in the title deed .
- Verify that the real estate matches the specifications in terms of its resistance to earthquakes .
- In case the property is a plot of land , it is necessary to ensure that it is possible to build on it and the conditions related thereto .
- In case that the property or real estate was purchased with the aim of obtaining Turkish citizenship , it must be ensured that it complies with the conditions for Turkish citizenship .
- Ensure that there are no debts or taxes on the property.
- Ensure that there are no seizure signs on the property from any party.
- It is also important for the foreign investor to open a bank account in Turkey and obtain a tax number.
- After confirming the integrity of all legal matters related to the property and title deed, the process of drafting real estate purchase contracts begins.
- These contracts are regulated between the construction company and the buyer, especially if the property is under construction
Projects suitable for Turkish citizenship
RH 180 - Ready luxurious homes with direct sea view in Zeytinburnu
The project was built on a land area of 63.500 square meters . It consists of 6 residences blocks plus 1 hotel block , with its green spaces of 51.500 square meters .
The project offers apartment options ranging from 1+1 to 5+1 , in addition to garden duplex and penthouse .
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 .
The project includes many services and facilities that meet all your needs , such as parking for cars , video intercom system , gardens , playgrounds , swimming pools , sauna and others .
The project also offers security and surveillance cameras 24/7 .
The project is ready for delivery , and for more details please visit the project link here : RH 180
Real estate purchase contracts in Turkey are among the important documents that guarantee the right of both the seller and the buyer , and these contracts are organized to fix the price of the property and reserve it in the name of the buyer with the details of the property recorded in the text of the contract , as well as details of the payments and stages of payment of the property value and the value of installments and their dates in the event that the property is in installments .
It is also important to record the date of delivery of the property to the buyer in the text of the contract , stating the penal terms related to the delay in delivery , and the bank account number of the seller is also recorded so that the agreed amounts are transferred to the account registered in the real estate purchase contracts in Turkey .
These contracts must be registered and documented in the ( Notre ) departments , and it is possible to obtain certified copies of these contracts in the Arabic and Turkish languages .
The Turkish government has guaranteed the rights of the foreign buyer in Turkey by regulating a set of laws and obligating Turkish construction companies and all project owners to implement them .
Contracts are organized according to these laws , as the Turkish state regulates 85% of the information contained in real estate purchase contracts , and the remainder of the contract terms are regulated in accordance with the laws and regulations in force relating to the sale and purchase of real estate in Turkey for foreigners .
Turkish law allows the buyer to cancel the purchase contract after completing the purchase process according to certain conditions . Turkish law also allows construction companies to delay delivery of the property for a period not exceeding 6 months from the agreed date , and in case the delay period exceeds 6 months , the law imposes a compensating on the construction company for the buyer with a monthly amount equal to the current rental amount for similar apartments in the region .
According to what was previously mentioned , we note the importance of organizing real estate purchase contracts in Turkey to protect and guarantee the rights of foreign buyers , and one of the most important factors that help in the process of owning a property in Turkey is free of complications and potential problems is choosing a guaranteed and experienced real estate consulting company in the real estate sector in Turkey , to help you facilitate all procedures and contribute to ensuring the rights of foreign buyers .
Special residential projects in Istanbul
RH 80- apartments with Bosphorus view and suitable payment plans in Sisli
A first class residential and investment project in the center of Sisli , specifically in the fast growing Bomonti area .
The project is located in one of the most famous areas on the European side of Istanbul , Bomonti district , a growing area that attracts the attention of investors at the moment , which is characterized by easy access to the most vital places in the city , and its proximity to shopping centers , airports , hospitals , universities and schools .
The project location is just 8 minutes away from Taksim .
This project has been designed in line with the highest quality standards in real estate in Turkey .
All apartments have private balconies with views of Istanbul or the Bosphorus .
The project includes special facilities that provide residents with comfort and entertainment and meet all their needs such as swimming pools , gym, walking paths , sport courts and restaurants , in addition to surveillance cameras and security .
Invest in this project today and benefit from its prices which will increase by 40% after the completion of the project .
All the project details in this link : RH 80
Advantages of investing in Turkey :
- Turkey usually treats the foreign investor in a way that is close to the local investor at a rate that may reach 100% , which is one of the most important advantages of investing in Turkey .
- The Turkish economy is among the most economies around the world that have a brilliant future . Expectations indicate that during the next ten years it will become one of the fastest growing economies around the world , because of its attraction of $ 15 billion in foreign investment annually , and the amount increases every year , as it is the sixteenth economy around the world .
- The population of Turkey helps to invest money , as the population of Turkey is 77.7 million , and Turkey is the largest in terms of youth in relation to the European Union , not only that , but also that its population of young people enjoys a high degree of culture and education .
- The infrastructure in Turkey has advanced high technology in all the things that a successful investment requires from transportation , remote means of communication and advanced marine transportation facilities and is characterized by its low cost .
- Low corporate income tax from 33% to 20% , and technological development areas and free and industrial areas are characterized by incentives and tax benefits, there is a total or partial exemption from corporate income tax , Turkey is characterized by laws that support innovation , research and development .
Research shows that real estate sales in Turkey have increased in recent years , which means that people who visit Turkey have decided to settle in Turkey for various reasons , and with this increasimg , the compulsory valuation decision for real estate was issued by the Ministry of Housing of Turkey and came into force in early 2019 . The law issued on 15 /02 /2019 under No. 1 / 2019 stipulates that real estate evaluation should be obtained by the competent authorities at the commencement of the procedures for acquiring the property or the title deed of the property purchased . Obtaining real estate evaluation was mandatory for those who are seeking to get Turkish citizenship by purchasing a property in Turkey , but the amendment to the law obliged anyone who sells a property of any kind to foreigners in Turkey to undergo the evaluation . A list of real estate evaluation companies who are approved by the Turkish government has been issued , and any real estate evaluation issued by any other company that is not on this list will not be accepted .
Real estate valuation aims to protect foreigners from any manipulation of the price of real property . The competent authority evaluates the price of the property based on several factors , namely :
- The area of the property and the date of construction : where the total area of the property is considered , in addition to the type of property whether it is commercial or residential , and how old the construction is .
- The views : the property is evaluated in terms of the view , in case the property is overlooking the sea , for example , or if the property overlooks a forest , a main street , or so on .
- Social facilities and services provided by the residential complex : such as swimming pools , gyms , parking lots , etc . The quality of the services and its availability within the complex play a big role in raising the value of the property .
- The status of the property : in the sense of its condition in terms of seniority , and in case it has cracks , for example , the level of finishes and cladding in the construction , as well as its facilities such as water , electricity and gas meters are also relevant in the evaluation of the property .
- Legal status of the property : it is to search the legal documents related to the property , such as licenses , and to make sure that there are no impediments to the transfer of ownership between the seller and the buyer , such as the presence of a reservation on the Tabu , for example .
- The level of surrounding properties : when evaluating the property , look at the price of the properties surrounding the project , and get a comparison between the price of the property to be owned by the foreigner and the surrounding properties .
The real estate valuation report in Turkey includes the following data :
- All details of title deeds .
- Photos of the property .
- Location of the property and its coordinates .
- Real estate prices similar in style , region and all variables .
- Report on the status of debt related to the property .
- Price matching .
- Approval of the Directorate of Geographical Survey .