Things to Know Before Buying Property in Turkey
When it comes to buying property overseas, it is natural to seek the most secure and safe approach. Therefore we have compiled a list of tips and advice you could utilize when buying real estate in Turkey.
1. Choose a Credible Real Estate Agency
The first step in ensuring a secure and guaranteed purchasing process is to consult with a legitimate real estate agency. Nevita meets all of the criteria for a trustworthy real estate agency, including a solid reputation, legal certifications, responsiveness to calls, and positive reviews.
Building rapport with your agent will yield better results because a professional agent will be able to show you everything in their portfolio that you want to see. Rather than contacting multiple agents at the same time in an attempt to see a wider range of properties, it is preferable to spend more time building rapport with an agent who will add more value to the service.
Our team consists of professional agents in the field of real estate who will speak with you in-depth to learn about your needs and requirements. You can visit our “About Us” page to get detailed information about Nevita’s company profile.
2. Decide Where to Buy
Deciding where to buy in Turkey is a critical point in efforts to ensure the best possible outcome. Turkey has many microcultures, with significant differences from one region to the next. Therefore, you will need to evaluate and be aware of what your own needs are, in order to choose an area that suits your interests and lifestyle. With the help of your agent’s extensive knowledge in the real estate market and area, you will be able to select the best option possible.
3. Understand Laws & Restrictions
Being educated about Turkey’s real estate regulations and limitations for foreigners is a vital tip to offer. Some points to consider are:
- After getting Turkish citizenship, there is a three-year hold period before selling a property.
- Foreigners can buy a maximum of 30 hectares of property in Turkey.
- Purchasing real estate in Turkey entitles you to residency. The resident permit is valid for as long as you want to live in your property and as long as the property is still in your name.
- Inheritance laws in Turkey differ from those in other countries.
Nevita possesses legal knowledge and expertise. Thus, you will be guided in an appropriate and legal direction.
4. Budget Your Finances
We recommend that you make a sound financial plan. Evaluate your literal cash budget and know what you can afford. Make sure you convey your budget clearly to your agent.
Take into account the costs of buying, legal fees, property tax, stamp duty, and other expenses. Keep an eye out for currency changes because currency fluctuations may occur during the purchasing process.
5. Invest for High-Yielding Returns
If you are looking to invest for rental income, investing in residential properties yields the strongest long-term returns. Capital appreciation is especially strong in Istanbul and renting your property to earn a steady income provides you with a decent percentage of returns. Our experts will show you high-demand places with higher rental prices, as well as areas where you want to attract your target demographic.
6. Private Property Insurance
In addition to the mandatory earthquake Dask Insurance, it is highly recommended that you obtain private insurance to protect your property from material damage.
Explore the Nevita ® Experience!
Nevita’s top priority is your satisfaction. By leveraging our expertise in the sector, we can provide you with a safe, straightforward, and satisfying service. Don’t hesitate to contact us for any further questions and professional advice.