The terms related to the Turkish real estate market

Created: 2021-05-15
Last Updated: 2024-07-27
Views: 4231

Content Index

-Customer:
-Owner or seller:
-Real Estate Investment :
-Real Estate Marketing :
-Real estate broker:
-Real Estate Developer:
- Real estate agent:
-Real Estate Advisor:
-Real Estate Management:
-Finishing operations:
-Entrance costs:
-Returns:
-deposit :

The real estate sector in Turkey has witnessed a great renaissance during the past few years and was able to attract large numbers of Arab and foreign investors from all over the world.
There is no doubt that entering the Turkish real estate market requires knowledge of its terminology and all other details. Below we will mention the most important terms that are required when wanting to buy a property in Turkey:

-Customer:

And it is one of the basic elements that are required for any real estate purchase process and it must have basic qualities, which are to have the money necessary to buy the property, to be satisfied with the purchase, and to be a follower of one of the nationalities allowed to own real estate in Turkey.

-Owner or seller:

Certainly, its importance is no less than that of the customer, and it is one of the basic elements of any real estate purchase in Turkey, and the name of the owner is given to the person who transfers the ownership of the property from his name to the name of the customer in exchange for a certain amount of money.

-Real Estate Investment :

It is the process by which a material gain is achieved from the owned property through various means, either by renting the property and achieving a fixed monthly income or even by selling the property after a period at a higher price.

-Real Estate Marketing :

This term has become very common in the Turkish real estate market and it is a broad term that includes many details and services provided by real estate marketing companies, it is not limited to placing advertisements for apartments and real estate as some imagine, but rather it is an integrated process through which the customer’s desires are studied. And to search for what suits him among the many options for real estate in Turkey and then choose the best for him and ensure a long-term relationship with him, and these companies take a commission from customers, but it is not great in return for the services they provide.

-Real estate broker:

a real estate broker is a person who works freely or belongs to a real estate brokerage company and practices his work within a specific geographical area, he does not need a license to do his work and he must have communication and negotiation skills.

-Real Estate Developer:

The name of the real estate developer is given to the person or company that is assigned to develop an area or project, improve it, repair its deficiency, rebuild it in a new way, find a way to invest it and take advantage of its location or buy vacant land and establish a project on it.
The real estate developer is mainly concerned with the economic and financial side and focuses on how to achieve good investment returns, and he supervises all operations until the project is completed, and it is necessary for him to possess high mathematical skills in order not to cause projects to lose money.

- Real estate agent:

It is a person or company that obtained a power of attorney from the owner of the property or project to sell this property and market it in the best way, or obtained a power of attorney from the customer to buy the property that is best for him according to the specifications he chose, or it can be called a real estate agent on the real estate broker The specialist who has passed a course in real estate marketing and has long experience in this field.
It is the duty of the real estate agent to be able to read the real estate market, know the supply and demand ratios, and determine the most appropriate time to buy or sell the property.

-Real Estate Advisor:

He is the person who wants to buy a property in Turkey to provide advice and experience that he has in relation to buying real estate and real estate investment and how well it matches the aspirations and desires of the buyer.

-Real Estate Management:

Many investors and money owners own a large number of real estate and buildings that they may not have enough time to manage and take care of their problems, so they entrust these properties to real estate companies so that these companies follow up all matters related to these properties from selling, renting, repairing and paying bills and Solve problems for a special commission.

-Finishing operations:

And it is the final processes that are worked on after the completion of the construction of the structure of the property, and it includes all forms of painting, electrical connections, floors, decoration and plumbing, and it is considered one of the most important stages as it will give the property its final shape.

-Entrance costs:

And it is the amount of money that the customer or buyer is supposed to own when thinking of buying the property because it includes the price of the property with taxes, the costs of registering it in government departments, the fees of the brokerage companies, and so on, and these costs differ from one country to another and from one city to another.

-Returns:

And this term is of interest to people who live within residential complexes, as it is a sum of money that is paid monthly by apartment owners to manage the complex in exchange for the many services it provides to them, including protection, cleaning, maintenance and recreational facilities.

-deposit :

It is the first batch of money that is paid by the customer in exchange for the property to be purchased and it is important to pay attention that this amount cannot be recovered even in the event of a withdrawal from the purchase of the property, but you guarantee through it that this property has become reserved for you and will not approach Nobody from him.

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