Frequently Asked Questions

In the purchases that are seeking investment value, all the factors are needed to be inspected deeply to meet the desired need. When a case is being about real estate investment, it is more likely to gain more profit in bigger cities compared to suburbs because of the higher demand. In Turkey, Istanbul real estate market has proven its quality and benefits not only domestically but also internationally. Many international investors have moved their investments from major European cities to Istanbul which is considered as rising star of the global real estate market.

Although, Istanbul real estate is very profitable, investors still need to make thoroughly analysis of the properties that are available in the market. When it comes to identifying properties for their investment value there are number of segments needs to be inspected including location, developer references, complex amenities, and project status.

Especially in the residential investments, ongoing projects are always much more profitable in comparison to completed projects due to lower price availability and better chance of payment plan options provided from the developers. Even though ongoing projects offer higher chance having more profit, development needs to be deeply analyzed by experts in order to make sure all the details are secured.

Besides the development, there are number of other factors that affects the gain on completion of the property such as developer references, local advancements, and municipal city planning strategy and so on.

In Istanbul, there are many areas in the form of transformation to reach city development goals and adjust to modernization of infrastructural enhancements. This transformation in the districts of Istanbul has been delicately controlled by the governmental authorities due to reserving historical settlement of the city. In the last couple of years, there are some areas have more attraction for investors such as Bahcesehir, Uskudar, Kadikoy and Sancaktepe real estate markets.

As we mentioned in the “Who can invest in Turkish Properties?” information, government has shown dedication to smoother the property buying procedure for foreign investors. In this writing we have gathered each step that you will go through if you are planning to buy a property in Turkey. We will briefly explain each step for you to clarify every single point through the investment process.

Making a decision on the property
Investment Trip for Inspection
Negotiation
Down Payment
Payment
Receiving your Title Deed (TAPU)

Once you make your decision on buying property in Turkey, the most confusing part is decision-making process about the real estate you are planning to purchase due to number of available options. In this time frame, it is important that you start with writing down a list of your goals out of purchasing a property. This list will be your actual stand point, so going over the list will help you out if you are confused seeing the available selections. On top of your list, write the maximum budget that you are willing to spend for a property, so do not exceed your limit. Usually, buyers seek properties fits into two major categories. Let’s review each option for deeper understanding.

Turkish property for investment
Many individuals and corporations are looking to increase their assets and capital investing in the real estate market around the world. If the property analysis made thoroughly, it is very simple to double the earnings by investing into ongoing projects. Especially cities, in the structural modernization progress similar to Istanbul, the key point to success is understanding domestic developments and its affect as added investment value to the projects around. On the project purchase process with investment value, we strongly advise investors to work with domestic investment experts who can walk you through identifying the most profitable projects with the experience they have in the area.

Turkish property for retirement/vacation
Turkey’s Mediterranean Coast in the south and Aegean Coast in the west are considered as vacation heaven which has already been visited by millions of foreign tourists each year. As tourists enjoy their summer vacations in the beautiful Turkish coasts, the property demand for vacation and retirement has drastically increased. In the process of purchasing a vacation or retirement property in Turkey, it is important for an individual spend some time in the area for better decision. In comparison to properties located in the cities, vacation/retirement properties are much less profitable from the investment perspective. Real estate investment firms mostly encourage their customers to buy a property in the city with an investment value, so either they can rent it out to live in the vacation areas or sell the property with a higher profit to buy a vacation/retirement property due to lower price increase in the vacation areas compared to cities.

Make sure your domestic agency provides you an investment trip for inspection of properties. Turkish Real Estate Market has a huge selection with full of wonderful properties! You just need find the one that appeals you to the most. That is being the primary reason which will provide definite consideration progress for individual or corporation to have deeper analysis of pros & cons for each property. Remember that your agency must be on your side and will be representing your rights, so be open for asking your domestic experts opinion in order to benefit from their knowledge.

No matter how good and profitable the development is they need to sell their properties in order to measure their success. Even though most leading developers in cities are strict with their policies on providing same pricing for their customers, speak to your investment expert to learn about your chances of negotiation on pricing.

Once you decide on your desired property fitting into your budget and walk over the negotiation process, you reach to easier part of the buying process. You will be making a down payment in order to preserve the property on the price both sides agreed on. Down payments are mostly decided by the developer about %1 of the property purchase price.

According to your payment plan with the developer, it is the time for you to make payments as agreed for the property you have decided to purchase.
There are three common options for making a payment of a property as we listed below:

Cash Payment
One of the most common way that is being used while buying a property is making a cash payment which increases the chances for negotiation.

Payment Plan
Payment plans are mostly used for ongoing projects in order to help buyers who does not want to struggle by giving high amount of money at once. Many developers provide payment plans for foreign investors with no interest rate which allows buyers to consider purchasing a property which might have been eliminated due to being over budget.

Financing Option
Since Turkish Real Estate Market has fame overseas, some banks are also cooperating with developers in order to help foreign investors to buy their desired home with monthly payments with an interest rate.

If the project that you are purchasing is not completed, there will be a sales contract between the buyer and the developer that guarantees the sale conditions. Therefore, the Title Deed (TAPU) process will start once the project is completed.

Title Deed (TAPU) Application
Your application will be sent to title deed office and military offices in order to have your application reviewed. This is an ordinary procedure that is being applied to all foreign investors during property purchasing process.

Application Follow-Up
Once your application approved, you will visit the title office to sign your free hold title documents. In this process, we recommend our investors to give a power of attorney to a Turkish lawyer in order to save time.

Title Deed (TAPU) Delivery
Congratulations! You officially own a property in Turkey!
The only step left you safely receiving the Title Deed (TAPU) in your hands. Usually we keep investors’ Title Deed (TAPU) o they can pick it up when they visit Turkey. Therefore, according to investor’s wish, your Title Deed (TAPU) can be mailed to your address with no extra costs.

Taxes
Purchase Tax
%4 of the property value will be paid as tax to the title deed office. Depending on the developer, half of this cost might be paid by the developer.

VAT (Value Added Tax)
If the property is under 150 m2 net sqm, VAT is %1 of the property value
If the property is over 150 m2 net sqm, VAT is %18 of the property value

Legal Fees
Ranging between 500 to 1500 EUROs

Utility Instalment Fees
Approximately 1000 EUROs

Property Insurance
50-100 EUROs

Agency Fees
%3 of the property value (decided by the government).
This commission represents that your agency is obligated to protect your rights in the market. If the commission is not asked, we advise investors to make a research about the property price in the market due to some agencies that add higher commission into the property’s listed price.

There aren’t any restrictions but rural areas and military zones. The projects we provide are all suitable to buy for Foreign investors.

Yes, all properties we provide are freehold. You will have the same rights of Turkish citizens.

No, all properties we provide are same prices for Turkish citizens and foreign investors.

All the projects we provide are built by institutional companies. So, the price never can be cheaper than the price list for individuals. We make deals with the projects to get the best price for our investors.

The seller of the property or project developer company sets the price of the property. For the projects Bureau bb offers, the best price is under guarantee.

Passport, passport photos, Individual Taxpayer Number (takes 10 minutes), bank account (takes 20 minutes).

Yes, some countries are required to take visa to come in Turkey. Visa can be taken in Turkey Airport after you arrive. Even visa prices changes depending on nationality, it costs around 10 Euro.

Each foreign investor can get residence permit for 1 year (can be renewed every year until you keep your property). Also family members can get residence permit too.

Water: 0.34 Euro per m3
Electric: 0.1 Euro per kwh
Gasoline : 1.7 Euro per liter
Luxury restaurant: Approx. 15.00 Euro per person
Bread: 0.15 Euro
House cleaning: 30 Euro per full time cleaning