FAQ about buying real estate in installments in Turkey
Content Index
first :Is it possible to own real estate in Turkey in installments by foreign investors?
This question may come to the minds of many foreign investors because they do not have sufficient information and experience regarding the real estate market in Turkey, and in order to answer this question, it can be said that owning real estate in Turkey in installments by foreign investors is indeed possible and permitted And there are no restrictions on this subject that may prevent them from owning real estate in Turkey in such a way, and there is no certain limit that must be achieved in order to allow a foreign investor to buy property in Turkey in installments, as it is possible to buy cheap apartments for sale in Turkey in installments, just like real estate Luxury Turkey, and there are also no specific conditions when it comes to the period of time that the price of the property in Turkey will be paid in installments.
Rather, all that is required in order to buy a property in Turkey in installments by foreign investors is that an agreement is reached between the buyer and the construction company or the bank that will be responsible for the real estate financing on the terms, conditions and details that will be mentioned in the contract. Agreeing to determine the value of the first payment, the number of remaining payments and the time period during which the remaining payments due to the foreign investor will be paid. The full details and contents of the contract must be reviewed by both parties before it is signed.
Second :How can foreign investors buy property in Turkey in installments?
This process, like the process of buying property in Turkey with full payment, is easy and has clear and known steps, and it is started by organizing an official sales contract between the construction company and the foreign investor. Through this contract, all From the price of the property in Turkey, the value of the first payment and the remaining payments, as well as the time period, and according to this legal contract, the foreign investor will be obligated to pay the due payments on the dates that have been agreed upon, as well as the value specified in the contract. In return, there will be a group of Obligations on the second party of the contract, which is the construction company, and it must abide by them, especially if this property in Turkey is still under construction, as then it will be a condition for it to hand over the property and be ready for housing upon delivery On the specified date and agreed upon within the contract, as well as that this property fulfills all the specifications agreed upon in advance.
Third :Details about buying real estate in Turkey in installments:
It is known that the date of delivery of the property under construction varies according to the stage of its construction, and usually a pre-agreed agreement is made between the construction company and the foreign investor on a specific date for the property to be delivered to him so that this coincides with his payment of the due payments, but not It is necessary to pay attention to the fact that the approaching date for the delivery of the property in Turkey, on the other hand, means that its price has increased significantly compared to other properties that are still under construction and need a longer period to become ready for housing, meaning that buying property in Turkey is still in the first stage of the process. Building his own real estate project and between buying a property with the same specifications and the same area, but it will be ready for housing within a shorter period of time, or it is now already completed and ready for delivery, so the price of the first property will be significantly lower compared to the price of the second property, by about twenty and Up to about forty percent.
Also, the value of the first payment that must be paid by the foreign investor when signing the contract varies and also varies depending on several factors, including the company responsible for the property and the real estate offer, but usually, and of course, the average first payment is equal to thirty-five percent of the The value of the property in Turkey, but in general, the higher the value of the first payment, the lower the value of the total price of the property in Turkey in return.
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