Criteria to consider when buying a property in Turkey
Turkey has always been a desirable destination for many foreigners. Moreover, the Turkish property market is growing day by day. There are thousands of houses for sale in Turkey. In addition, Turkish real estate’s value has reached a place where it is being noticed worldwide. Therefore, in this article from Ebla Real Estate, we will provide the valued readers with tips and criteria to consider when buying a property in Turkey.
Table of contents:
- Tips and criteria to consider when buying a property in Turkey.
- Legal matters to consider when buying a property in Turkey.
- Criteria about the location of the house in Turkey.
- Criteria related to the property.
Tips and criteria to consider when buying a property in Turkey:
Legal matters to consider when buying a property in Turkey:
One of the most important legal standards to consider when buying a house in Turkey is the extraction of a real estate appraisal report as the General Directorate of Land Registry in Turkey issued a decision stating that Real estate appraisal report has become mandatory for every foreigner.
What does the Appraisal Report of a Property Include?
A real estate appraisal report in Turkey includes the following information:
- Real photographs of the property (including under-construction properties).
- Title deed information.
- The property’s location is on the map with the coordinates.
- Current debt situation and technical status is given by the Land Registry and Cadastre General Directorate.
- Estimation of the purchase price.
- Prices of similar properties in the area.
It is also important to make sure the property you are checking out is legal for purchase and that the deed does not have any outstanding fines or debts connected to it, such as an “ipotek,” which is a lien on the property that you would be liable for if purchased.
In new builds, make sure the name of the title deed has been transferred to the contractor versus the landowner if that is who you are purchasing from. Moreover, do not relinquish any funds and only pay for the property in full after the deed has officially been issued in your name.
Furthermore, having an “iskan,” which is a habitation certificate, proves that the home is habitable and has been built according to the required standards and earthquake regulations.
Title deeds in Turkey come with either blue or red borders. Those with blue borders denote land or land including a detached home. However, deeds with red borders refer to units in an apartment or housing complex, the latter of which is referred to as “site.”
Thus, it is highly desirable to check with the Land Registry Office, (Tapu Dayiresi in Turkish) and consult a real estate company to save time and effort.
Criteria about the location of the house in Turkey:
The location of the property plays an important role in evaluating its price and raising its future value, especially if the purpose of the purchase is real estate investment in Turkey.
It is better to choose a developed city from one of the largest Turkish cities to take advantage of the location and features of those cities, such as Istanbul or Bursa. Moreover, it is better to purchase property in areas that are still experiencing growth
In addition, proximity to local cafes, shops, schools and parks; low crime rates; street access and parking as well as access to public transport and being away from the “hustle and bustle” are just some of the attributes worth considering.
Criteria related to the property:
- Year of construction.
- Exterior and interior finishes and decorations.
- Home services such as electricity, water and sewage.
- Home facilities such as gardens, car parks, etc.
It is worth noting that investors and buyers can consult and deal with a real estate company or real estate agent in Turkey. However, make sure that the company has offices with real estate consultants who have experience, professionalism and flexibility. Moreover, make sure that the company is familiar with the area, local market, and purchase procedures. In addition, the company should have a variety of offers of properties in Turkey.
Edited by: Ebla Group Real Estate
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