Are you in search for answers to the question “Can I buy a house in Turkey?” If your answer is positive, the following factors may provide you a good perspective and motivate you on buying a house in Turkey.
Foreigners who are planning to buy a house in our country for the first time have a common question in their mind, can I buy a house in Turkey? Millions of tourists come every year and many return to their countries as fans of Turkey. Almost all the foreigners and real estate investors who visit Turkey for the first time think seriously about buying a house in Turkey.
If your neighbor is living in abroad but wishing to buy a house in Turkey, they may not know how the purchase procedure works. If you want to help them in this matter, you can use the information we will share with you. Or if you are planning to buy a house in Turkey and wondering about can I buy a house in Turkey, keep reading issues written bellow.
First of all, let's clarify an issue. It is feasible to acquire citizenship in Turkey by purchasing a home in any city of country.
In the year reflected the news to the press on January 12, 2017, it was taking place a knowledge that citizenship to foreigners will be grant who will buy real estate in here. The regulation published in the Official newspaper states that foreigners who buy at least 1 million dollars of immovable property in Turkey with the condition to keep it minimum for three years will obtain Turkish citizenship.
On September 18, 2018, the amount of 1 million US dollars was decreased to 250,000 million US dollars.
After the amount for the Turkish citizenship is decreased the interest of real estate investors and foreigners who wanted to buy house in Turkey has raised on 2018 and each year the sales are raised by even double amount.
Foreigners must meet specific legal necessities if they are wishing to buy a house in Turkey. They also need to pay attention to the legal limitations in obtaining real estate. The reciprocity condition search application is abandoned in the acquisition of foreigners of immovable property in pursuant to Article 35 of the No.6302 Land Registry Law enacted in May with Law No. 2644.
Foreigners who want to acquire information on this issue can apply to the Embassy of Turkey in their country or Turkey representations in the country.
The formal arrangement of contracts for the aim of not damaging foreign nationals is arranged and they must be careful about the legal restrictions on foreigners' immovable property.
Issues to be Considered when Preparing Contracts
According to the legislation in Turkey, the acquisition of immovable property, it is feasible to be registered with the Land Registry Office:
Foreigners and real estate investors can buy a house in Turkey. But they also have to know that they will be some procedure and some limitations. In accordance to this:
Making the Necessary Documents to Buy a House in Turkey
Foreigners who want to buy a house in Turkey in their application to the Land Registry Office the following documents are necessary to have:
Does buying a house in Turkey is profitable for foreigners?
Besides wondering about the question of can I buy a house in Turkey, does buying a house in Turkey is a profitable investment is also among the most frequently asked question by the real estate investors and foreigners who are planning to purchase a house.
It is considered that housing investment will come into prominence in the future of the real estate sector. Property and real estate in Turkey for many years lived in the golden age. The real estate contractors have seen their king times.
The average return on investment period in housing units in Turkey is about 22 years. The investment return in the house is found by dividing the value of the house by the annual rental returns. In other words, how many years of rent is equal to the cost of that house, an answer to this question is sought. In this calculation, the tax to be paid from the rent is ignored.
For instance, you have bought a house of 500 thousand Turkish Liras, you have rented your house of 2 thousand Turkish Liras per month, the rent you will receive annually is 24 thousand Turkish Liras, so 500 thousand Turkish Liras / 24 thousand Turkish Liras and the return period of this house is approximately 21 years.
The real estate investor gained 75 percent from their investments in the last 5 years!
While the recent data announced shows that the real estate investor has earned 75 percent in the last 5 years, construction sector representatives note that the right housing projects constructed in the right locations will always bring profit to the real estate buyers.
According to the latest data of Turkey Statistical Institute (TSI), the housing prices increased 75 percent in last 5 years. While gaining investors, the rental income made the investor's very pleasant.
Underlining that real estate investment brings "net profit", Turkey Statistical Institute (TSI), emphasized that when the housing buyers make their selections smartly, there will be no loss of earnings in the house.
It is considered that the right implement to select the smartest investment is housing, especially brand new housing projects do not vary like foreign exchange and gold nor are they affected by the recession in the economy.
While the investors think of can I buy a house in Turkey, our country offers the amazing investment options with high income returns. That is why people from all around the world are in love with real estate market in Turkey.
The essential thing is to do your investment in the exact housing projects in the developing locations. First of all, those who want a profit in return to their investment should turn to brand housing projects situated in the center of the city with a sea view or forest view as well.
Nowadays the real estate construction companies offer amazing options of luxury houses with sea view, city, or forest view at very reasonable prices. So hurry up not to miss these wonderful opportunities while thinking can I buy a house in Turkey. It is recommended to prefer housing projects that raise living standards without sacrificing quality.
In Istanbul, it is seen that prices have risen by 8 percent in recent years and reached an average of 4 thousand 750 Turkish Liras per square meters. In Turkey, the prices in the sale of housing raised by 5 percent over the last year. Housing prices for sale in Ankara, Bursa and Antalya did not fall. Speaking in light of this data, the real estate investment for foreigners to buy houses in Turkey can be regarded as a profitable investment.
Social facilities Offered by New Housing project of Turkey
The new branded housing projects constructed by the most creative and innovative real estate construction companies offer the unpredictable social facilities for families and real estate investors. Even in some housing projects you do not need to go outside for any of the daily life needs.
Here are the social activities, entertainments and lots of other facilities provided by housing projects in Turkey;
Indoor and outdoor Swimming pools, Tennis court, artificial lake and waterfalls, Turkish bath, sauna and spa, fitness center, Pilates and yoga salon, education building, school and kindergarten, warehouse and parking lot, dancing hall, movie room or mini cinema hall, outdoor and indoor playgrounds and play station room.
In addition to these amenities some luxury housing projects provides services such as housekeeping, childcare, organizing meetings, flight bookings, organizing surprise birthday parties and anniversary celebrations, VIP transfers which will raise your life standards and brings comfort with luxury to your life.