Buying real estate in Turkey

Turkey is very popular among those who wish to purchase housing abroad. On the one hand, it has a very comfortable climate and many resort and tourist areas. On the other hand, the cost of Turkish real estate is much lower than in many other destinations.

It is worth noting that in the first months of the pandemic, the demand for housing and commercial properties in Turkey decreased slightly. This is due to the closure of borders, various economic factors. However, by the middle of 2021, the country was able not only to return to the previous level of real estate sales, but also to break its own record - over 20 thousand properties were sold in Turkey in the first half of the year.

Despite the fact that Turkish housing is so popular, certain questions and difficulties can arise when buying it. In order not to run into them, it is important to understand the situation in advance.

What is important to know about buying a home in Turkey?

When concluding a transaction for the sale and purchase of Turkish real estate, it is necessary to take into account certain details:

• when buying a home in Turkey one must apply not to the Cadastral Department, but to a separate body - the Office of Registration of Ownership of Land and Real Estate;
• when buying real estate one will have to pay a mandatory tax of 2% of the value of the property (while the seller will also have to pay a similar amount);
• if upon purchase it is not possible to immediately obtain a title deed (for example, if the house is still under construction), the purchase and sale agreement must be notarized;
• it is important to pre-check all the information about the selected object - whether there is a mortgage on it, whether there are any restrictions on the right to dispose of the property.

If the buyer does not know Turkish law, and even more so the language, it is better to immediately use the services of local lawyers and an interpreter.