Do you intend to purchase an apartment in Turkey? With a thriving real estate market and a positive economic environment, it’s a smart investment decision. Yet, there are a few important facts you should be aware of before making a choice. Here are the top five considerations for purchasing an apartment in Turkey.
Legal Requirements
Understanding the legal criteria is essential before buying any property in Turkey. In order to purchase an apartment in Turkey, a foreigner must first get a Turkish residency permit. If the buyer still owns the property, the permit can be renewed after its first year of validity. In order to confirm that the flat is not in a military zone, international purchasers must also submit an application for a military clearance certificate.
Property Location
The location of an apartment is important. The largest city in Turkey, Istanbul, has a wide variety of districts to choose from. You should take into account elements like the area’s accessibility to public transit, retail areas, hospitals, and schools. Also, look into the neighborhood’s attractions, including its parks, eateries, and entertainment venues.
Developer Reputation
It’s crucial to get an apartment from a respected developer. Review the developer’s past work, including completed projects, and testimonials from satisfied clients. You may use this information to determine the developer’s dependability and trustworthiness.
Property Type and Size
Choose the sort of property that best matches your needs before making an apartment purchase in Turkey. Do you want a studio, one-bedroom, or several bedrooms in your apartment? Do you want a newly built home or do you prefer a refurbished one? Take your time and thoroughly weigh your selections because your money will play a big part in your choice.
Payment Plan and Financing
Finally, it’s crucial to think about your financing alternatives and payment schedule. Establish the apartment’s entire cost, including taxes and fees, and talk with the developer about the payment arrangement. In Turkey, purchasers often pay 20–30% of the entire cost of the apartment up advance, with the remaining balance being paid over a specified time. You should investigate the available choices and interest rates if you need funding.
In conclusion, investing in an apartment in Turkey is a great idea. But before making a purchase, it’s essential to conduct study and comprehend the important elements, just like with any large financial choice. To make sure that your apartment purchase in Turkey is a success, keep in mind these five crucial details.
