Why is the property under construction in Türkiye not transferred to the person’s ownership after purchase?
Despite transferring the value of the property under construction and signing the purchase contract officially and legall.. You cannot transfer ownership of property in Türkiye to your name. And in this article from Ebla Real Estate, we will talk about the reason.
Buying property under construction in Türkiye:
Many investors want to own a property under construction within a project that has a strategic location and a vital area to achieve high profits. The property under construction in Türkiye is an investment opportunity since you are buying your property at a lower cost and the percentage of profits increases continuously with the rise in real estate prices every year in Türkiye.
Moreover, real estate under construction achieves high profits between 50% and 300%. That is upon completion of construction work and receiving house keys.
Furthermore, purchasing a house under construction enables investors to invest in several real estate projects at the same time.
Why is the property under construction in Türkiye not transferred to the person’s ownership after purchase?
You cannot transfer ownership of property in Türkiye to your name even if you transferred the value of the property under construction and signed the purchase contract. As it is issued upon the completion of the building and ensuring that it conforms to the specifications that have been announced and taking the license on its basis.
In this case, you will obtain (Irtifak Title Deed): which is extracted for the property under construction. It determines the complex number, residential building, floor number, and apartment number and its specifications.
After the completion of building, you pay the title deed tax and obtain the new title deed (Tapu). Thus, the property will be in your name.
Edited by: Ebla Group Real Estate
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