The 5W1H Approach to Real Estate - IDEAL ESTATES ALANYA

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BUYERS GUIDE

The 5W1H Approach to Real Estate

The 5W1H Approach To Real Estate In Turkey

Our 5W1H approach to real estate in Turkey will answer your questions of; Who, Why, Where, What, When, and How to buy property in Turkey.

The WHO in 5W1H?

Who Can Buy Property In Turkey?

In our nation, real estate and restricted rights in REM may only be obtained by nationals of the nations listed in the Presidential Decree.
The legal basis on which foreign natural and legal persons can purchase real estate and rights. are included in Land Registry Law No. 2644, Articles 35 and 36, in our nation. There are legal restrictions on these privileges.
Firms with foreign natural people, foreign enterprises, or trading firms as shareholders that were founded in compliance with our nation's legal requirements. All of these are considered "companies with foreign capital." Real estate and restricted rights appropriate for their operations, in which foreign individuals, businesses, or companies possess 50% or more of the shares, may be acquired by them. or to which the governorships must grant authorization, even in cases where the aforementioned foreign individuals possess less than 50% of the shares, in order for them to designate the managers.
Limited rights in REM and real estate may be acquired by incorporated trading businesses that were formed in compliance with the laws of their respective nations. Only if the relevant laws contain unique provisions will this be possible. Other than these trading firms, no legal person or entity is permitted to purchase real estate or to have restricted rights in real estate established on their behalf.

The WHERE in 5W1H ?

Where Can You not buy Property In Turkey? (Legal Limitations)

If the property to be purchased is situated inside a "Special Security Zone," permission from the governorship of the area in question is needed.
Land registry directorates supply the necessary information, and registry records specify real estate situated in military-prohibited and security zones.
In 81 cities, real estate situated in military-prohibited and security zones is registered with the land registry.
A natural person of foreign descent is limited to thirty hectares of real estate in total throughout the nation.
The entire amount of real estate that natural persons of foreign descent are permitted to purchase; this amount may not exceed 10% of the total area in a district that is designated for the ownership of private property.
Foreign-born individuals and foreign-incorporated businesses that have been in operation for at least two years and wish to purchase undeveloped land and plan to create a project must submit their plans for approval to the appropriate ministry.
Real estate that has been obtained in contravention of the relevant rules and regulations and is being used for purposes other than those stated by the relevant ministry and administration may be appropriated. Real estate projects are also subject to disposal requirements if applications are not submitted to the appropriate ministry on time or if the projects are not carried out on time. (For detailed information, circular no 2013/15, www.tkgm.gov.tr)

The WHY in 5W1H ?

Why Should You Buy Property In Turkey? (Reasons)

For international investors, Turkey is an excellent destination to buy, whether they are seeking for a long-term or vacation residence.
One of the strongest economies in the world is that of Turkey. The benefits of the real estate industry are expanding more quickly than in the past.
Turkey's real estate market offers a large selection of properties for all price ranges, and prices are still incredibly reasonable.
Better quality than similar properties in rival countries.
Lower property taxes, a simpler purchasing process, and a better return on investment.
Turkey's geographic location, climate, breathtaking scenery, golden beaches, historical landmarks, and delectable food.
Turkey has long been a popular choice among our tourists to pass the time away because of its amazing landscape, history, culture, and climate.
In this period of securely navigating through a global pandemic, these qualities for enjoying a healthy and happy life are more crucial than ever.
Turkish culture places a high value on hospitality since visitors are seen as "gifts of God."

The WHAT in 5W1H ?

What kind of Property Can You Buy In Turkey?

Within legal bounds, foreigners can purchase any type of property in Turkey, including apartments, villas, and village houses.
Residential Real Estate for Sale in Alanya, Turkey: Are defined as any property used for residential purposes. Examples include single-family houses, condos, cooperatives, duplexes, townhouses, and multifamily residences with fewer than five individual units.
Land for Sale in Alanya, Turkey: Foreign natural persons may buy any real estate in areas where private property to purchase land is allowed. As a well-established company, we have a powerful network to search for and find various options for our investors. You may prefer buying land and building your dream Villa or developing your investment portfolio. The options are limitless, and we are here with our expertise to provide the guidance needed to ensure you get what is best suited to your needs.
Commercial Property for Sale in Alanya, Turkey: Any property used exclusively for business purposes. Such as apartment complexes, gas stations, grocery stores, hotels, offices, restaurants, shopping centers, and stores. We are very experienced as a Real Estate consultancy to guide you to make the right decision.

The WHEN in 5W1H?

When Should You Buy Property In Turkey? (Timing)

Whether you are looking for a house for a holiday or rental investment, you always have the same question? "When is the best time to buy real estate in Turkey?". Even if we are not investment professionals, we always focus on economic data and real estate advertisements. Sometimes the property you like exceeds your budget, and sometimes you find a property that is just right for your budget. Timing is crucial to keep pace with the extensive turnover of the market. When should you Buy Property in Turkey?

Real estate season opens in spring!
Statistics don't lie. Data collected worldwide on real estate states that the season opens in the spring. Realtors are experiencing their busiest periods during these months. When the weather is warmest, you should seize this opportunity when the schools are on summer break. Of course, there are certain advantages and disadvantages to buying a house during the real estate season. We have listed these below to aid you in determining the best time for you.

Advantage: The number of properties for sale is extensive!
You may not believe it, but real estate advertisements constantly increase towards the end of March and the beginning of April. So why is this happening? The most straightforward reason is that the weather is neither hot nor cold in the spring. So it is much easier to visit Turkey to purchase a home, most sellers wait for spring for just this reason.

Disadvantage: Competition!
Yes, many houses are for sale in the real estate season, but nobody wants to buy them. Like you, many buyers who wait for the season are potential competitors for your favourite properties. Naturally, this can cause the prices to rise. Therefore, houses that are cheaper in winter start to increase in spring.

Advantage: Perfect time to move in is the summer months.
Moving a house is stressful, especially if there is rain and mud; this stress multiplies. Moving when schools are on holiday, and the weather permits is much easier. Therefore, to find your dream house, you should keep an eye on http://www.idealestates.com/. In the spring months to buy your home before summer.

Disadvantage: Don't make the wrong decision by thinking that you will miss the season!
If you obsess, "You need to buy property before schools close," this can be stressful, and you can make the wrong decision by rushing. So don't panic. IDEAL Estates has united thousands of people with their dream homes, and we can do the same for you. IDEAL Estates is always with you, no matter which season it is!

The HOW in 5W1H ?

How Can You Buy Property In Turkey?

First and foremost, research the agents thoroughly to ensure they are reputable and certified. As there have been cases of nonlicensed agents attempting to sell homes to foreigners. Once you can verify their legitimacy and have checked up on the agent through peer reviews, their website, and office address. Then make contact to describe your price point and requirements, as they may have more listings on hand than they post.
Homes in Turkey have three requirements: first, there must be a "tapu," which is a title deed, "imar," which is a building license, and "iskan," which is a habitation certificate.
It is highly advisable to check with the Land Registry Office (Tapu Dairesi) to make sure the property is legal for purchase. The Land Registry Office can confirm if the deed has any outstanding fines or debts connected to it. Such as an "ipotek," which is a lien (mortgage) on the property you would be liable for if purchased.
In new builds, ensure the title deed's name has been transferred to the contractor (if they are the seller) rather than the landowner. Do not relinquish any funds; only pay for the property in full after the deed has been officially issued in your name.
Having an "iskan," a habitation certificate, proves that the home is habitable and built according to the required standards and earthquake regulations. The habitation certificate will make getting loans or setting up a mortgage on the property possible. And is marked on the deed by having a check in the box for "kat mülkiyeti," which means property ownership. If the "kat irtifakı," box is checked it denotes ownership of a building that is not yet habitable.

There are several requirements for foreigners to buy property in Turkey;

If the property is being independently purchased by foreigners, they must obtain a foreign identification number (yabancı kimlik numarası) and arrange for a translator to provide notarized translations of their passports. However, it is also possible to fulfill these requirements by granting power of attorney, thereby bypassing the first two prerequisites.
There is also the rare situation that a military clearance, which could take up to a month, might be necessary based on proximity to military bases or strategic locations.
Foreigners intending to purchase land are also restricted to 30 hectares and keep in mind that there are strict regulations on building on land here in Turkey.
YourKeyTurkey is a wonderfully informative website prepared by Turkey's Ministry of Environment and Urban Planning General Directorate of Land Registry and Cadastre for foreign property buyers. Check it out at www.yourkeyturkey.gov.tr.