Are you looking to buy property in Turkey for sale? If yes, there may be a number of questions in your mind about purchasing a property in Turkey. Below mentioned are some of the most common and frequently asked questions (FAQ) about property investment in Turkey, have a look:
Que 1: Can someone get a residence permit in Turkey, if he/she buys a property there?
Ans: As per the new law, foreigners can receive residence permit for one year, which needs to be renewed every year with the concerned authority, until they sell their property.
Que 2: Is it necessary to get a residence permit in order to buy a property in Turkey?
Ans: No, it’s not necessary to avail a residence permit when considering purchasing a property in Turkey.
Que 3: Who can buy property in Turkey?
Ans: According to the old law, in which Turkey has a re reciprocal agreement for the purchase of land and property with many countries, the people from these countries who allow Turks to purchase a land in their countries, can in return, buy land in Turkey. However, as per the current law, all nationalities (except a few) can purchase property in Turkey.
Que 4: Are there any limitations or restrictions for foreigners when purchasing property in Turkey?
Ans: There are certain restrictions only in rural areas and military zones for foreigners. In developing areas, no restrictions are imposed on foreigners when purchasing property in Turkey.
Que 5: Is it possible for foreign companies to purchase property in Turkey?
Ans: Yes, a foreign company can own a property in Turkey if its country has a mutual agreement with Turkey.
Que 6: Who sets the price of the property in Turkey?
Ans: It usually depends on the kind of property you are considering. For instance, if you are buying a property on a new development, the prices are usually set by the developer.
Que 7: Is there any Real Estate Agent Service fee?
Ans: Yes, whenever a property is sold, registered or licensed, the real estate agents are permitted to receive 3% service fee over the actual sales price of the property from the purchaser as well as from the property owner.
Que 8: What is the average deposit required when buying a new development property?
Ans: On purchasing a new development property, the buyer is usually required to pay around 3,000 Euro (approx) reservation fee along with approximately 30% of deposit within the specified time period.
Que 9: What is the basic property buying process in Turkey?
Ans: After paying the reservation fee and the deposit, you need to apply for a security clearance to allow you to own a property in Turkey. Further, if your circumstances require it, you can sign a Power of Attorney to conclude all the necessary paperwork.
Que 10: What documents are necessary to buy a property in Turkey?
Ans: Some of the key documents required to purchase a property in Turkey include your passport, passport sized photos, Tittle deed of the property, other identification documents, etc.
All the above mentioned information can be really helpful if you are considering buying a property in Turkey. You can also visit: https://www.spotblue.com/, to find the property of your choice.