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PRUVA NETA REAL ESTATE
PURCHASE AND SALE
HOW TO BUY A PROPERTY IN TURKEY: PURCHASE PROCEDURE IN DETAIL
In 2023, citizens of the CIS countries are increasingly thinking about buying property in Turkey. There are a lot of reasons for that.
Many people want to invest safely, and Turkish new buildings are the best choice in terms of financial investments, with a profit of 30 percent.
Wealthy people often choose Turkey as their permanent place of residence and are now looking for permanent residence.
It is important for some people to obtain a Turkish passport, and it is convenient to do this through real estate investment: if you buy a house worth $400,000 or more, you can get Turkish citizenship without problems under a simplified program.
The financial plan dictates to have a passive income, and one of the options for such income is to earn money from renting out your own apartment in a resort area in a seaside southern country like Turkey. It is possible to purchase not only residential space, but also commercial real estate: in developing neighborhoods, this will bring a substantial amount as rent.
In other words, there are many reasons to choose the Republic of Turkey for buying property. To learn how to do this, read our material.
THE PROCEDURE FOR PURCHASING PROPERTY IN TURKEY
Since 2012 Turkey has abolished the principle of reciprocity regarding the purchase of real estate. Now almost any foreigner can become the owner of a Turkish apartment or villa, and not only citizens of those countries in which Turkish citizens have been granted similar rights. Thus, a citizen of the Russian Federation, Ukraine, Belarus, Kazakhstan, Uzbekistan and most other states can buy property.
HOW TO BECOME AN OWNER OF TURKISH PROPERTY: REQUIREMENTS FOR FOREIGNERS
Citizens of Russia and Ukraine cannot buy a property on the Black Sea coast.
The land plot should not exceed 30 hectares.
An apartment, house, commercial premises and land plots cannot be located in the military and strategic zone of Turkey.
In addition to these, there are no additional restrictions for foreigners.
PRICES ARE CONSTANTLY RISING: IT’S BETTER TO HURRY UP
It should be noted that everything has been predictable in the field of Turkish real estate for several decades. The cost of apartments and private houses is growing steadily. This is due to various factors:
Rising prices for building materials. In modern buildings, high-quality reinforced concrete of the European standard is used, and this is now very expensive.
Gasoline prices are rising, which means that all transportation and construction work will become more expensive.
Taxes and minimum wages are rising, and the cost of new buildings is rising along with them.
In addition, in many cities popular for foreigners, there is no longer land for new complexes. The shortage raises land prices in all prestigious areas.
So don’t expect prices to drop at some point. On the contrary, they will only rise. And the developing regions of Turkey (for example, Altintash in Antalya or Demirtas in Alanya) will become developed in about 3-4 years, acquire a chic infrastructure, including for residents who speak only Russian. And then all these developed quarters will rise in price by at least 2 times (and they will continue to be bought, there will be no problems with the sale). In the meantime, there is a great opportunity to invest and/or buy an apartment with an excellent layout and good area at an affordable price.
HOW TO CHOOSE THE RIGHT PROPERTY FOR PURCHASE
Of course, this is an individual thing. However, there are still some objective parameters that need to be guided by. Even before contacting realtors, you can determine the following questions:
Are you going to buy a property for investment purposes or are you planning to live in the apartment you bought?
Investments more often involve the purchase of an apartment in a new building at the stage of a foundation pit or even a project, or investing in square meters of a premium residential complex in a developing area that is interesting to foreigners.
Are you considering housing on the secondary market?
If you want to live in Turkey for some time in your own apartment, is it permanent or seasonal?
When moving to permanent residence, first of all, pay attention to the “stuffing” of the residential complex. If you expect to come in the season, then the proximity to the sea, good shops, restaurants and, possibly, bus stops is paramount.
What exactly is important for you in the infrastructure of the complex?
Center of the metropolis or a quiet area of a small town?
After answering these questions, the future owner should take into account that the value of real estate in Turkey depends on the following parameters:
Location (City and District)
Proximity to the sea and the infrastructure of the region
Primary or secondary market
Stage of construction (in a house under construction it is cheaper)
Area and layout
Floor
View from the window
To navigate the proposals for Turkish houses, apartments, penthouses, and so on, it is most convenient to use the websites of reliable real estate agencies.
On our website, you can compare the prices of objects in different cities and districts of the same city and set the necessary search parameters (there is a filter by price, location, type of layout).
Please note that the area of apartments in Turkey is often considered in an unusual way for us. We are accustomed to the fact that according to the cadastre they consider “net area”, which means only square meters of the apartment itself up to the front door. In the Republic of Turkey, “gross area” is often indicated. It is calculated as follows: the area of the landing, the elevator shaft, the thickness of the walls, sometimes even the common areas from the infrastructure are divided by the number of residents and added to the “net area”. In addition, the balcony area is also always taken into account in the “gross area”, since with a subtropical climate, the balcony is a full-fledged room and perhaps the best place in the house on summer evenings.
Then, having settled on several options, you can already book an introductory tour or online viewing from Project Home (or both!). And in the process, we will certainly tell you about all the nuances of the real estate registration procedure in accordance with Turkish law.
In addition to the options that you have already looked at in our database of real estate in Turkey, our staff will select for you other properties that meet your requirements. It is a joy for us to help you find the perfect home in our beloved country of warm seas, blooming roses, narrow-leaved olive trees and beautiful homes.
HOW TO BUY PROPERTY IN TURKEY
As soon as you finally decide what you want to buy, you can immediately proceed to the execution of the deal. There are no special difficulties for foreigners.
Options for registration of real estate for foreigners:
You can come on an introductory tour, choose a property, go through all the stages of the purchase procedure, accompanied by an employee of a real estate agency and get a certificate of ownership in your hands.
And you can draw up a power of attorney for a competent and reliable manager of a real estate agency in Turkey and actually become the owner with all the documents remotely.
Of course, buying an apartment abroad with professional realtors is safe in any form – both locally and remotely.
STAGES OF BUYING PROPERTY IN TURKEY
Whatever the property you choose, the buying steps for everything are about the same. The procedure consists of 5 steps, each of which is detailed below.
THE FIRST STAGE IS THE CONTRACT OF SALE
First you need to conclude an agreement between the seller and the buyer, where you are the buyer. The document will record the data of both parties (yours and the seller), the parameters of the purchased property in Turkey, the rights and obligations of the parties, as well as the payment procedure. All you need is your passport and a deposit.
The signing of the contract does not mean an automatic transfer of ownership of the property, because the apartment has not yet been finally sold in a legal sense. The transfer of the right is certainly preceded by full payment and acceptance at the cadastral office. But we will discuss these stages in our material below.
Usually, when the contract is signed, the seller receives a deposit from the buyer. Most often it is equal to 5-10 percent of the total cost. The receipt of such a deposit will necessarily be indicated in the contract.
The contract will be drawn up in a language you know. Both parties sign 2 copies.
THE SECOND STEP IS PREPARING THE NECESSARY DOCUMENTS
After the conclusion of the contract, we collect the necessary documents. This is not much at all.
Issue a power of attorney if you do not plan to be personally present at all stages of real estate registration in Turkey, in particular, at the registration of a sale and purchase deal.
Get a Turkish tax number. You can do this online on the website of the tax office or at any tax office in Turkey. To obtain a TIN, you only need your foreign passport. This can be done without your presence. Without a TIN, it is impossible to carry out a purchase of real estate.
Conduct an independent examination of the property you have chosen – an invited expert will evaluate it in Turkish liras. The appraiser must be accredited by a special organization – the Council for the Supervision of Financial Markets. You will be given a special document – a certificate with the results of the expertise, that is, the cadastral value of the object.
After the examination, receive a document from the bank confirming the exchange of currency for Turkish lira. This is a 2023 innovation and serves to support the value of the Turkish Lira. It concerns all purchase and sale deals in which foreigners participate. This document can be obtained by the buyer, the seller or their authorized representatives. Usually, all preparations for obtaining an exchange certificate are carried out by the developer.
To obtain a certificate of currency exchange for lira, you need to open an account in a Turkish bank. In 2023, for this you need a scan of a paid receipt for electricity or water from your country of residence with your registration address and your first and last name.
Then you need to put money into the Turkish account in a currency: euros, dollars, pounds, and so on – and exchange the currency for lira in the amount indicated by the expert in his document. And then they will give you a certificate of exchange.
However, it should be noted that developers generally do not want to be paid in Turkish liras, so once you receive a currency exchange certificate, you will need to change them back to the chosen currency. Usually the prices are fixed in Euro.
All costs for the purchase and sale of Turkish Lira are borne by the buyer.
THE THIRD STAGE – FULL OR PARTIAL PAYMENT
If a client buys an apartment in a new building, then he usually transfers money to the developer using the details. When buying on the secondary market, money can be transferred from your account by SWIFT transfer to the owner’s account.
In addition, there are other payment methods:
You can transfer cash to us personally or to our representative in your country.
It is acceptable to pay with cryptocurrency – we will show you how to do it.
THE FOURTH STAGE IS THE RECEIPT OF A CERTIFICATE OF OWNERSHIP (TAPU)
A certificate of ownership of real estate in Turkey (in Turkish it is called TAPU) you get in a special city department of TAPU and cadastre. First you need to apply on the website of this department, so the date of admission will be set. On this day, both the seller and the buyer should come to the office.
In 2023, there is talk that soon all such transactions will be executed by notaries in notary offices. The government is discussing this bill, but so far it has not come to practice.
If the buyer is a foreigner, then an accredited sworn translator must be present at the cadastral office.
After the registration of the sale and purchase transaction, the new owner receives a certificate of ownership.
If necessary, instead of the buyer, his representative by proxy can come to the transaction. As already mentioned, a power of attorney can be issued to a competent realtor who helps you with the purchase.
After the purchase of real estate and receipt of documents, a foreign citizen assumes certain obligations:
Comply with Turkish laws
Pay property taxes annually
Pay utility bills
THE FIFTH STAGE IS AFTER-SALES AFFAIRS
There are 2 important things left:
Obtaining a registration certificate
Drafting contracts for utility services
After receiving a certificate of ownership of real estate purchased on the primary market, the owner must obtain a technical passport (ISKAN). If the apartment or villa was bought on the secondary market, then the previous owner gives you the iskan.
And in order to re-register electricity and water meters, you need to collect additional documents, in addition to a certificate of ownership, a technical passport for living space and your international passport. You also need to pay for special DASK earthquake insurance and find out the meter numbers – managers in the after-sales service will help you in all this.
ADDITIONAL COSTS WHEN PURCHASING PROPERTY IN TURKEY
Often, buyers are unpleasantly surprised to learn that, in addition to the cost of an apartment in Turkey, they will have to face additional costs, albeit small. We are always honest with our clients and tell them right away what expenses they will have:
Compulsory earthquake insurance (DASK)
4 percent of the cadastral value of the property as tax (the difference between the market and cadastral value of an apartment is often enormous). This rate is the same for Turkish citizens as well as for foreigners.
Payment of an independent home appraiser
Working Capital Stamp Duty
Maintaining a folder in the cadastral chamber
City Hall stamp duty before the deal
Payment for the services of a sworn translator accredited by the Cadastral Chamber and entered in the register of the Ministry of Justice of Turkey
Costs for obtaining ISKAN – technical passport
Costs for registration of utility meters
Optional additional costs for issuing a power of attorney
At our real estate agency Pruva Neta Real Estate, we are fully engaged in the preparation of all documents, you will only need financial resources to pay all fees and other things.
IT IS IMPORTANT TO CHOOSE A RELIABLE REAL ESTATE AGENCY
A good realtor will accompany you at all stages of buying a property in Turkey and will not leave you after the deal. With some of our clients, we have been in touch for a decade after the sale!
In a reliable real estate agency, such as Pruva Neta Real Estate, managers will not only check all documents for cleanliness, but also suggest which option is best. We have saved more than one hundred of our customers from mistakes. And now they fully own real estate in Turkey, we have selected wonderful apartments for everyone that fully satisfied all the high requirements of buyers!
With us, you have nothing to worry about – we will definitely find the perfect home by the sea for you. The one you are dreaming of.
In 2023, citizens of the CIS countries are increasingly thinking about buying property in Turkey. There are a lot of reasons for that.
Many people want to invest safely, and Turkish new buildings are the best choice in terms of financial investments, with a profit of 30 percent.
Wealthy people often choose Turkey as their permanent place of residence and are now looking for permanent residence.
It is important for some people to obtain a Turkish passport, and it is convenient to do this through real estate investment: if you buy a house worth $400,000 or more, you can get Turkish citizenship without problems under a simplified program.
The financial plan dictates to have a passive income, and one of the options for such income is to earn money from renting out your own apartment in a resort area in a seaside southern country like Turkey. It is possible to purchase not only residential space, but also commercial real estate: in developing neighborhoods, this will bring a substantial amount as rent.
In other words, there are many reasons to choose the Republic of Turkey for buying property. To learn how to do this, read our material.
THE PROCEDURE FOR PURCHASING PROPERTY IN TURKEY
Since 2012 Turkey has abolished the principle of reciprocity regarding the purchase of real estate. Now almost any foreigner can become the owner of a Turkish apartment or villa, and not only citizens of those countries in which Turkish citizens have been granted similar rights. Thus, a citizen of the Russian Federation, Ukraine, Belarus, Kazakhstan, Uzbekistan and most other states can buy property.
HOW TO BECOME AN OWNER OF TURKISH PROPERTY: REQUIREMENTS FOR FOREIGNERS
Citizens of Russia and Ukraine cannot buy a property on the Black Sea coast.
The land plot should not exceed 30 hectares.
An apartment, house, commercial premises and land plots cannot be located in the military and strategic zone of Turkey.
In addition to these, there are no additional restrictions for foreigners.
PRICES ARE CONSTANTLY RISING: IT’S BETTER TO HURRY UP
It should be noted that everything has been predictable in the field of Turkish real estate for several decades. The cost of apartments and private houses is growing steadily. This is due to various factors:
Rising prices for building materials. In modern buildings, high-quality reinforced concrete of the European standard is used, and this is now very expensive.
Gasoline prices are rising, which means that all transportation and construction work will become more expensive.
Taxes and minimum wages are rising, and the cost of new buildings is rising along with them.
In addition, in many cities popular for foreigners, there is no longer land for new complexes. The shortage raises land prices in all prestigious areas.
So don’t expect prices to drop at some point. On the contrary, they will only rise. And the developing regions of Turkey (for example, Altintash in Antalya or Demirtas in Alanya) will become developed in about 3-4 years, acquire a chic infrastructure, including for residents who speak only Russian. And then all these developed quarters will rise in price by at least 2 times (and they will continue to be bought, there will be no problems with the sale). In the meantime, there is a great opportunity to invest and/or buy an apartment with an excellent layout and good area at an affordable price.
HOW TO CHOOSE THE RIGHT PROPERTY FOR PURCHASE
Of course, this is an individual thing. However, there are still some objective parameters that need to be guided by. Even before contacting realtors, you can determine the following questions:
Are you going to buy a property for investment purposes or are you planning to live in the apartment you bought?
Investments more often involve the purchase of an apartment in a new building at the stage of a foundation pit or even a project, or investing in square meters of a premium residential complex in a developing area that is interesting to foreigners.
Are you considering housing on the secondary market?
If you want to live in Turkey for some time in your own apartment, is it permanent or seasonal?
When moving to permanent residence, first of all, pay attention to the “stuffing” of the residential complex. If you expect to come in the season, then the proximity to the sea, good shops, restaurants and, possibly, bus stops is paramount.
What exactly is important for you in the infrastructure of the complex?
Center of the metropolis or a quiet area of a small town?
After answering these questions, the future owner should take into account that the value of real estate in Turkey depends on the following parameters:
Location (City and District)
Proximity to the sea and the infrastructure of the region
Primary or secondary market
Stage of construction (in a house under construction it is cheaper)
Area and layout
Floor
View from the window
To navigate the proposals for Turkish houses, apartments, penthouses, and so on, it is most convenient to use the websites of reliable real estate agencies.
On our website, you can compare the prices of objects in different cities and districts of the same city and set the necessary search parameters (there is a filter by price, location, type of layout).
Please note that the area of apartments in Turkey is often considered in an unusual way for us. We are accustomed to the fact that according to the cadastre they consider “net area”, which means only square meters of the apartment itself up to the front door. In the Republic of Turkey, “gross area” is often indicated. It is calculated as follows: the area of the landing, the elevator shaft, the thickness of the walls, sometimes even the common areas from the infrastructure are divided by the number of residents and added to the “net area”. In addition, the balcony area is also always taken into account in the “gross area”, since with a subtropical climate, the balcony is a full-fledged room and perhaps the best place in the house on summer evenings.
Then, having settled on several options, you can already book an introductory tour or online viewing from Project Home (or both!). And in the process, we will certainly tell you about all the nuances of the real estate registration procedure in accordance with Turkish law.
In addition to the options that you have already looked at in our database of real estate in Turkey, our staff will select for you other properties that meet your requirements. It is a joy for us to help you find the perfect home in our beloved country of warm seas, blooming roses, narrow-leaved olive trees and beautiful homes.
HOW TO BUY PROPERTY IN TURKEY
As soon as you finally decide what you want to buy, you can immediately proceed to the execution of the deal. There are no special difficulties for foreigners.
Options for registration of real estate for foreigners:
You can come on an introductory tour, choose a property, go through all the stages of the purchase procedure, accompanied by an employee of a real estate agency and get a certificate of ownership in your hands.
And you can draw up a power of attorney for a competent and reliable manager of a real estate agency in Turkey and actually become the owner with all the documents remotely.
Of course, buying an apartment abroad with professional realtors is safe in any form – both locally and remotely.
STAGES OF BUYING PROPERTY IN TURKEY
Whatever the property you choose, the buying steps for everything are about the same. The procedure consists of 5 steps, each of which is detailed below.
THE FIRST STAGE IS THE CONTRACT OF SALE
First you need to conclude an agreement between the seller and the buyer, where you are the buyer. The document will record the data of both parties (yours and the seller), the parameters of the purchased property in Turkey, the rights and obligations of the parties, as well as the payment procedure. All you need is your passport and a deposit.
The signing of the contract does not mean an automatic transfer of ownership of the property, because the apartment has not yet been finally sold in a legal sense. The transfer of the right is certainly preceded by full payment and acceptance at the cadastral office. But we will discuss these stages in our material below.
Usually, when the contract is signed, the seller receives a deposit from the buyer. Most often it is equal to 5-10 percent of the total cost. The receipt of such a deposit will necessarily be indicated in the contract.
The contract will be drawn up in a language you know. Both parties sign 2 copies.
THE SECOND STEP IS PREPARING THE NECESSARY DOCUMENTS
After the conclusion of the contract, we collect the necessary documents. This is not much at all.
Issue a power of attorney if you do not plan to be personally present at all stages of real estate registration in Turkey, in particular, at the registration of a sale and purchase deal.
Get a Turkish tax number. You can do this online on the website of the tax office or at any tax office in Turkey. To obtain a TIN, you only need your foreign passport. This can be done without your presence. Without a TIN, it is impossible to carry out a purchase of real estate.
Conduct an independent examination of the property you have chosen – an invited expert will evaluate it in Turkish liras. The appraiser must be accredited by a special organization – the Council for the Supervision of Financial Markets. You will be given a special document – a certificate with the results of the expertise, that is, the cadastral value of the object.
After the examination, receive a document from the bank confirming the exchange of currency for Turkish lira. This is a 2023 innovation and serves to support the value of the Turkish Lira. It concerns all purchase and sale deals in which foreigners participate. This document can be obtained by the buyer, the seller or their authorized representatives. Usually, all preparations for obtaining an exchange certificate are carried out by the developer.
To obtain a certificate of currency exchange for lira, you need to open an account in a Turkish bank. In 2023, for this you need a scan of a paid receipt for electricity or water from your country of residence with your registration address and your first and last name.
Then you need to put money into the Turkish account in a currency: euros, dollars, pounds, and so on – and exchange the currency for lira in the amount indicated by the expert in his document. And then they will give you a certificate of exchange.
However, it should be noted that developers generally do not want to be paid in Turkish liras, so once you receive a currency exchange certificate, you will need to change them back to the chosen currency. Usually the prices are fixed in Euro.
All costs for the purchase and sale of Turkish Lira are borne by the buyer.
THE THIRD STAGE – FULL OR PARTIAL PAYMENT
If a client buys an apartment in a new building, then he usually transfers money to the developer using the details. When buying on the secondary market, money can be transferred from your account by SWIFT transfer to the owner’s account.
In addition, there are other payment methods:
You can transfer cash to us personally or to our representative in your country.
It is acceptable to pay with cryptocurrency – we will show you how to do it.
THE FOURTH STAGE IS THE RECEIPT OF A CERTIFICATE OF OWNERSHIP (TAPU)
A certificate of ownership of real estate in Turkey (in Turkish it is called TAPU) you get in a special city department of TAPU and cadastre. First you need to apply on the website of this department, so the date of admission will be set. On this day, both the seller and the buyer should come to the office.
In 2023, there is talk that soon all such transactions will be executed by notaries in notary offices. The government is discussing this bill, but so far it has not come to practice.
If the buyer is a foreigner, then an accredited sworn translator must be present at the cadastral office.
After the registration of the sale and purchase transaction, the new owner receives a certificate of ownership.
If necessary, instead of the buyer, his representative by proxy can come to the transaction. As already mentioned, a power of attorney can be issued to a competent realtor who helps you with the purchase.
After the purchase of real estate and receipt of documents, a foreign citizen assumes certain obligations:
Comply with Turkish laws
Pay property taxes annually
Pay utility bills
THE FIFTH STAGE IS AFTER-SALES AFFAIRS
There are 2 important things left:
Obtaining a registration certificate
Drafting contracts for utility services
After receiving a certificate of ownership of real estate purchased on the primary market, the owner must obtain a technical passport (ISKAN). If the apartment or villa was bought on the secondary market, then the previous owner gives you the iskan.
And in order to re-register electricity and water meters, you need to collect additional documents, in addition to a certificate of ownership, a technical passport for living space and your international passport. You also need to pay for special DASK earthquake insurance and find out the meter numbers – managers in the after-sales service will help you in all this.
ADDITIONAL COSTS WHEN PURCHASING PROPERTY IN TURKEY
Often, buyers are unpleasantly surprised to learn that, in addition to the cost of an apartment in Turkey, they will have to face additional costs, albeit small. We are always honest with our clients and tell them right away what expenses they will have:
Compulsory earthquake insurance (DASK)
4 percent of the cadastral value of the property as tax (the difference between the market and cadastral value of an apartment is often enormous). This rate is the same for Turkish citizens as well as for foreigners.
Payment of an independent home appraiser
Working Capital Stamp Duty
Maintaining a folder in the cadastral chamber
City Hall stamp duty before the deal
Payment for the services of a sworn translator accredited by the Cadastral Chamber and entered in the register of the Ministry of Justice of Turkey
Costs for obtaining ISKAN – technical passport
Costs for registration of utility meters
Optional additional costs for issuing a power of attorney
At our real estate agency Pruva Neta Real Estate, we are fully engaged in the preparation of all documents, you will only need financial resources to pay all fees and other things.
IT IS IMPORTANT TO CHOOSE A RELIABLE REAL ESTATE AGENCY
A good realtor will accompany you at all stages of buying a property in Turkey and will not leave you after the deal. With some of our clients, we have been in touch for a decade after the sale!
In a reliable real estate agency, such as Pruva Neta Real Estate, managers will not only check all documents for cleanliness, but also suggest which option is best. We have saved more than one hundred of our customers from mistakes. And now they fully own real estate in Turkey, we have selected wonderful apartments for everyone that fully satisfied all the high requirements of buyers!
With us, you have nothing to worry about – we will definitely find the perfect home by the sea for you. The one you are dreaming of.
