Key Aspects of Real Estate and Its Purchase in Turkey

Turkey stands out as a distinctive hub for real estate acquisition, presenting unique characteristics for both the properties themselves and their purchase processes. Foreign investors have been significantly attracted to Turkey, mainly driven by favorable conditions the nation offers. Before diving into property selection, it's essential to understand the nuances associated with Turkish real estate.

Property Layout

Unlike many countries, Turkish property descriptions don't use terms like 'one-bedroom' or 'two-bedroom'. Instead, they employ a unique counting system. For instance, a unit labeled as 1+1 refers to an apartment with one bedroom and a combined living room-kitchen, equivalent to a standard two-room apartment. Similarly, a 2+1 implies two bedrooms and a combined living room-kitchen, and so forth. It's worth noting that multi-bedroom apartments frequently feature two bathrooms, although this isn't a steadfast rule.

Turnkey Properties

In Turkey, newly built apartments are typically ready for occupancy. There's no need for any post-purchase refurbishments. These apartments boast aesthetically pleasing and practical interiors, often partially equipped with essential appliances. Secondary market properties are often sold fully furnished, eliminating additional setup hassle for the new owner.

Modifications

If a property is under construction, potential buyers can often negotiate certain modifications with the developer. These might include color schemes, door styles, or appliance upgrades, provided these changes don't compromise structural integrity or overarching design elements.

Residential Complexes

Many Turkish properties are situated within gated residential complexes. These communities offer enhanced security, and their amenities rival those of luxury resorts. They might feature pools, play areas, relaxation zones, spas, retail outlets, and even cinemas. While such lavish amenities are more common in resort towns, even smaller complexes typically offer car parks.

Setting Up Your Home

Turkey prides itself on ensuring maximum comfort for residents. For instance, when purchasing furniture, delivery and assembly are usually included in the service package. Many households in Turkey rely on online shopping for home essentials, capitalizing on the convenience of home delivery. Additionally, companies like RestProperty offer post-sale services to ensure a smooth transition for property buyers.

Payment & Financing

Purchasing a property in the early stages of its construction often yields the best value. As construction progresses, property prices tend to rise. Developers frequently offer interest-free installment payment plans, making the buying process more manageable for investors. It's essential to note that mortgages for foreigners are now rare in Turkey. Foreign buyers must also open a bank account in Turkey and obtain a tax number to facilitate property transactions.

Residency and Citizenship

One of the significant advantages for foreign investors is the possibility of acquiring residency or citizenship through property purchase. While residency can be pursued in various capacities, citizenship is attainable by purchasing any property valued at $400,000 or above. This opportunity extends not only to the primary buyer but also to their spouse and any minor children.

These are the primary aspects one should consider when looking into Turkish real estate. Turning to companies like RestProperty can simplify the buying process, assist with documentation, and even guide through residency or citizenship procedures.