The stock of finished housing in Turkey has begun to decline. This is due to an increase in home sales, due to which the number of properties in ready-made new buildings begins to decline.
First of all, the most attractive options are being bought. Even today, immigrants and investors who want to buy Turkish housing feel this deficit.
The good news can be seen in the launch of a large number of new projects. The outbreak of the coronavirus pandemic has slowed down the construction process, but developers are now catching up and making applications in an active mode.
Residential complexes are under construction and some apartments are being sold when not completely finished. Buying and selling such variants is especially popular in Izmir, Istanbul, Alanya, and Antalya.
1. Where to buy an apartment by the sea in Turkey
If you certainly want to live by the sea, then the universal choice will be Alanya, located on the Mediterranean coast. What is good about this city:
- Tourism has not absorbed it completely. Yes, you can find tourists here, but as soon as you go further into town, everything around goes quiet. You feel as if you find yourself in a completely different Alanya.
- Suitable for lovers of active recreation, as well as quiet and original.
- The city continues to develop, and begins to look more European. New residential complexes, entertainment, and shopping centers are being built.
Read also: How to Buy a House with Cash: Helpful Tips
By the way, if you have decided to buy an apartment in Alanya, but have doubts, many developers offer a service “a tour in Turkey as a gift. You will be shown the city, the infrastructure, and housing.
Usually, the trip also includes accommodation, meals, and transfers.
2. Buying an apartment in Turkey under construction
In order to buy an apartment under construction, you should read some information:
The project. Absolutely all apartments can be seen as a design or a model even if they are still under construction. The documentation contains information about all parameters.
These include the area of specific rooms and the total, the location of rooms, and so on. That the final, finished version will correspond to the project, you can not doubt. In the Republic of Turkey, there are fairly strict rules and regulations concerning this.
Also, the builders’ work is monitored at all stages;
Adjustments. Builders in Turkey offer buyers a great opportunity to change the finishing materials, something in the design, and others. On this basis, if you are not satisfied with the fact that the floor material for the bedroom is a blue stone, you can easily ask to change it for something else.
Builders agree to meet the customers, and the new tenants move into the apartment, which fully meets all their preferences, wishes, and requirements;
Safety. From a financial point of view, the purchase of Turkish residential properties is completely safe. The property will not be incomplete or under construction for longer than it is supposed to be.
Builders lease or buy land for the work, and sometimes do the construction work entirely at their own expense. If they take a loan, they leave their own property as collateral.
So it is mostly unprofitable for the developers themselves to abandon their project or to delay construction. Also, such behavior is punishable, otherwise, people will have their licenses taken away, depriving them of the opportunity to work in this field in the future.
Laws provide for all different situations, ensuring the safety of all those wishing to buy Turkish real estate. In addition, the new owners are issued a document that confirms the ownership of the residential property, even if it is still under construction;
Cost. Buying such a home is especially advantageous because such options are always cheaper than the finished ones. The contract contains all the sums that have to be paid.
In addition, buyers have the opportunity to buy housing in installments without interest, which is especially convenient. The schedule according to which the payments will be made, the buyer can adjust independently, based on his wishes.
3. Buying an apartment in Turkey: the nuances
Deciding whether to buy a property in Turkey, it is necessary to take into account a number of features of this country. Legislation here is treated as loyal and even provides some benefits.
- By buying a home more expensive than $250,000, you can get Turkish citizenship.
- A passport and a deposit of 5-10% of the property value are sufficient to sign a sales agreement.
- For the registration of the transaction itself is necessary:
- Power of attorney to a realtor who can take care of all paperwork;
- Taxpayer Identification Number (TIN), which can be obtained from the district office of the tax office;
- Bank account;
- permission from the state authorities (for houses built after 2011 is not required).
- About what currency will be paid, it is better to agree in advance.
- Certificate of registration of title can be obtained only after 100% redemption of housing.
- The final stage — the conclusion of contracts with utilities.
The procedure for registration of documents in Turkey is simplified, all operations can be carried out within a few days. It is easier to buy an apartment with the builder, than on the secondary housing market.