If you are looking for a dream second home overseas or an investment in international real estate, buying Turkish property might just be the perfect solution. Turkey is an intriguing and culturally diverse country that draws a large number of tourists to its beaches every year. In reality, data from recent years indicates that almost a million Britons vacation there each year. As more and more people begin to learn about the real Turkey and all it has to offer, this number is predicted to increase.
Turkey is the ideal destination for an overseas vacation home or investment if culture and wonderful weather are your top priorities.
Purchasing Real Estate in Turkey
Without a doubt, Turkey has a lot to offer anyone considering purchasing real estate there as a second home or as an international real estate investment.
For example, more people are expected to go to Turkey as a result of the proliferation of low-cost carriers that serve the nation from the UK and other locations.
Turkey's already alluring attractiveness will only grow as a result of this enhanced accessibility aspect, which will open the eyes of many tourists and vacationers searching for the best deals on flights.
Turkey's Lower Cost of Living
If money is a top priority, Turkey is also regarded by many Britons as one of the most affordable places to live and travel, particularly when compared to other well-liked European locations.
How About the Prices of Turkish Real Estate?
If you are thinking of purchasing property in Turkey, learn about the local real estate market and pricing ranges. To put it mildly, many investors still believe that Turkey is very competitive at present compared with other European countries.
This is why it should come as no surprise that Turkey's real estate market is gaining traction rather quickly. So if you are buying to capitalize on this wonderful deal that could end up having some future value added then it may be time to make your purchase.
If development is to be had, shopping for real estate in Turkey can offer a golden investment opportunity.
Of course, many since the previous global economic downturn are still recovering and most — some less than others — will have seen a negative impact on their housing market and construction sector. Turkey is not an exception.
Before Purchasing Real Estate in Turkey, You Must Do Your Research.
Before buying property in Turkey, every potential investor should decide that everything is legally and ethically correct. This is very smart advice.
That is true for many international property investment opportunities.
But avoiding a sting is easy — be careful of running into a situation, get local expertise, and do your homework.
Expert Guidance
The veracity of any reports that the builder, developer, or owner of the property has commissioned regarding the property should be closely examined.
Analyzing the history and standing of developers can be further helped by builder or developer reports.
A good route to take will be to view previous building projects and completed developments that were completed on time, on budget, and to the level you are considering.
You may also benefit greatly from hiring an English-speaking local lawyer or legal specialist to oversee the transaction, ensuring scrutiny and compliance with all local property laws, rules, and regulations, leaving no stone unturned that might render your purchase void.
Can UK Citizens Buy Property in Turkey?
Buying property in Turkey for UK people is a very simple procedure but there are some things that you need to keep in mind.
Ownership Eligibility:
Investors, including UK nationals, can normally purchase property in Turkey, although there are some restrictions in certain designated areas, which are near military zones.
Governments:
The decision to choose depends upon the policies and regulations of respective governments and varies from country to country.
Legal formalities:
It would always be wise to appoint a local real estate agent and attorney who is well aware of Turkish property laws. It would involve a study of titles and all other statutory compliance.
Documentation:
Turkish tax numbers, which can be acquired from Turkish tax officials, are required for buyers. Furthermore, there must be a fee-based transfer of the title deed (Tapu).
Residency:
In some property purchases, buying a certain priced property can help get a residence permit
Conclusion:
To sum up, based on good law conditions and a mutual agreement (which came into effect in 2013), UK residents can buy real estate property within the Turkish territories.
While the process is typically simple, it requires knowing the constraints of military zones and that one has to obey a law as well — both getting a title deed and receiving military permission.
A local legal professional can help with a smooth transaction. At Prime Property Turkey, we can offer you exactly this and so much more. Not only will our agents facilitate your access to a massively diverse portfolio but we will stay by your side every step of the buying process and offer you our legal services to aid and accelerate your Turkish Citizenship application.
