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The purchase of real estate in Turkey is an opportunity to invest money profitably. Real estate is used to open cafes, restaurants, hotels or simply to rent out. To buy commercial real estate in Turkey, consider the appropriate criteria. The profitability of the property depends on proper planning and choice of real estate. Predicted increase in sales in the future and an increase in property values, so it is recommended to buy now.
Foreigners choose real estate in Turkey for various reasons. There is a relatively low cost for housing. The climate and environmental conditions are good for your health. Quality planning and construction of buildings guarantee long life.
Stay Property will help with the selection of commercial real estate depending on the client’s needs and requirements. All properties meet safety standards and are sold with finishing and furnishing. Opportunity to make profitable investment and profit in the future.
The procedure for the purchase of commercial real estate in Turkey is almost no different for foreigners. Compared with previous years, the rules have not changed. The stages of buying a property:
Determining the budget of the object. Firstly choose the type of property on the primary or secondary market. It is required to identify the parameters of the selection, which will affect the purchase. From the budget in the first place depends on the possible options for purchase. There are proposals for a loan or installment plan. The first option involves the conclusion of a loan agreement with a bank, the second – the registration of installments with the developer. Contact only a proven real estate agency that guarantees the security of the transaction.
Examination of the details. After choosing some properties, study their characteristics. Our agency offers study tours free of charge if you buy a property. With a personal inspection of the property is easier to make a choice. There is no need to sign any documents beforehand to go on a tour.
Familiarization. After the choice of property must travel to Turkey for the conclusion of the contract. Obligatory presence of the buyer is required. In some cases, you can execute a power of attorney, certified by a lawyer. In studying the contract carefully read all the clauses. The agreement is made in two languages.
Signing the contract and the execution of the TAPU. After the agreement requires execution of the TAPU. This is a document of title to real estate, which is issued by the Cadastral Office.
Transaction of sale takes a few days. A passport and money are required. Other documents are made on the spot. If the property is bought on credit, additional conditions are required.
There are different types of taxes on registration of real estate in Turkey. One-time payment is a tax that a buyer pays when processing the TAPU. It is paid once. It is only 4% of the total value of the property. All objects that are sold to foreigners are tested. An expert evaluates the state of the property, set the price. This is done to protect the buyer.
There are also annual taxes. For commercial property tax is 0.2-0.4% of the total value of the object. The percentage is determined depending on the type of construction and other characteristics. In large cities the amount of tax is higher. Also thought of the insurance amount, which is paid in Turkey to protect the property in case of emergencies.
There are different payment options available for buying property in Turkey. The object is purchased in full, on credit or by installments. At full payment, the buyer gives the seller the entire amount. There are various loyalty programs and discounts for this method of payment.
Credit is available for foreigners. It is possible to take out a mortgage at the bank, which is issued for a period of five years. The initial installment is half the value of the property. The evaluation of the object is carried out by the bank. To get the money to collect a package of documents required by the bank. In Turkish banks there are favorable interest rates for foreigners.
Installment offered at the stage of construction. Initially, the buyer pays half the cost of the object under construction. After construction the remainder is paid. Installment does not provide any interest. Payments are made in equal installments. A specific period for repayment of the installment plan for commercial real estate in Turkey.
When buying property, foreigners are granted a residence permit. After a few years it must be renewed. After five years, it is possible to get Turkish citizenship under a simplified scheme.