Cash or installments, which is better to buy an apartment in Türkiye?

Cash or installments, which is better to buy an apartment in Türkiye?

One of the important and frequently asked questions in the real estate market is “Is it better to buy an apartment in Türkiye in cash or in installments?”. This is what we will see in this article from Ebla Real Estate.

How to buy an apartment in Türkiye in cash:

1. Choose the appropriate apartment.
2. Get a discount ranging from 10% to 30%.
3. Transfer the entire value of the apartment through a Turkish bank.
4. Obtain the title deed after preparing the required documents and paying the title deed tax.
5. Receipt of the apartment.

How to buy an apartment in Türkiye in installments:

There are two ways to buy an apartment in Türkiye in installments, which are:

1. The first way is through one of the construction companies, which offers special offers every period. After the agreement with the construction company, you pay the required down payment, which often ranges between 35% and 50% of the total apartment value. Then, you complete the remaining monthly installments. It is worth noting that all the terms agreed upon be included in the sales contract.
2. The second one is through a Turkish bank.. The bank first buys the apartment from the construction company, then sells it to you, with a mortgage sign on the apartment, until you complete all the installments.

Notes about buying an apartment in Türkiye by installments:

• The price of the apartment will rise relatively over time when you buy it in installments.
• The discount offered by the construction company is approximately 5% of the apartment value.
• You will not be able to obtain the title deed until you complete all installments.
• Installment payments must be made through a bank.

Advantages of buying an apartment in Türkiye in cash:

• When buying an apartment in cash, you can immediately go to the Title Deed Directorate to complete the procedures for transferring ownership of the property to obtain the title deed or “Tapu”.
• Moreover, you can get a discount of up to 30% of the value of the apartment.
• Furthermore, you can immediately start your real estate investment project.

Advantages of buying an apartment in Türkiye in installments:

• The buyer will not have to face the financial pressures of paying in the long term.
• It avoids the buyer from resorting to debt to pay the full value of the property, as this makes there an additional burden that may be difficult to control.
• Employing a certain capital to purchase various properties in the Turkish real estate market in installments, investing them and benefiting from their investment profits, instead of pouring the same capital in cash into one property and then waiting for the capital cycle to achieve the expected profit.
• Investors can achieve a high profit rate after purchasing in installments, and this is by selling the property after the completion of the construction phase.

After we provided the advantages of apartments in cash and in installments and how to buy each one, it is up to you. The cash payment option may be ideal for some and the installment option may be ideal for others.

Edited by: Ebla Group Real Estate

If you like the topic, do not forget to share it with your friends