According to official data, residential real estate sales in the first half of 2021 may show an increase of 6% compared to the second half of 2020, despite the pandemic and related restrictions.
From January to June 2021, foreign buyers allowed the market to close the first half of the year with the best record in history, when more than 20,000 homes were sold. In the first half of 2020, the growth was 44%.
The low cost, flexibility and accessibility of the still young Turkish market allow it to actively resist the pressure of the coronavirus pandemic and crisis trends in the global economy.
It is also worth mentioning the highly centralized process of purchase and sale and lease. Regardless of whether you are an investor or a simple buyer, all real estate transactions always go through the main regulatory body - the Land Administration (Tapu Dairesi).
No transaction can be considered legal without his consent. You also need to pay a 4% commission to register a purchase transaction. 2% is usually paid by the seller and 2% by the buyer.
When buying a house, keep in mind that it will take three years to sell it.
To buy a property, you can also get a residence permit for a certain amount, and after selling things it's up to you.
Visas are issued for a period of one to five years.
There is no ban on foreigners buying real estate in Turkey. However, to buy an apartment, you need the permission of the municipality. Of course, there are areas of state or strategic importance in which it is impossible to buy real estate.
The most popular place to live in Istanbul - 44% of all migrants move here. 21% of emigrants are concentrated in Antalya. The remaining 35% are distributed across the country without any specific localization.
Istanbul is the most expensive city on the market. The average initial purchase price of a house is about $62,000. If you rent, you will probably pay a maximum of $320 per month.
Foreigners can take out loans for the purchase of real estate. You can find options where the collateral on the loan does not exceed 10-12%.
The Turkish market is dynamic, changes in the number and value of transactions can vary from 10 to 11%.
It is worth noting that taxes are quite low. Within the city limits, you pay property tax in the amount of 0.2% of the assessed value of the property. In the province - 0.1% of the cost.
The tax is paid twice a year.
All types of residential real estate in Turkey can be divided into four main categories:
However, there are many more types and configurations.
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