Top 3 Risks When Buying a Property Under Construction in Turkey: Avoid Pitfalls

Real estate in Turkey has long been one of the most reliable investments for Europeans and for many people from the CIS countries: proximity to the sea, mild climate, long beach season and a harmonious combination of oriental flavor with a measured European lifestyle - all this encourages thousands of investors to invest in an apartment or house on the Turkish coast. Cherished square meters are leased and resold.

And, as in most countries, the cost per square meter at the stage of excavation is much lower than when buying finished housing: the difference in price can be 25...45%.

Real estate in Turkey has long been one of the most reliable investments for Europeans and for many people from the CIS countries: proximity to the sea, mild climate, long beach season and a harmonious combination of oriental flavor with a measured European lifestyle - all this encourages thousands of investors to invest in an apartment or house on the Turkish coast. Cherished square meters are leased and resold.

And, as in most countries, the cost per square meter at the stage of excavation is much lower than when buying finished housing: the difference in price can be 25...45%.

Risk No. 1. Real estate commissioning late or of inadequate quality.

In Turkey, especially in resort regions, there are practically no long-term construction projects: here, untimely delivery of a house will cause large fines for the developer, and poor quality of construction work will cause the loss of a license, but, of course, there are occasional cases.

Solution: buying real estate only from trusted developers and cooperation with a reliable real estate agency. Employees, knowing Turkish and English and the nuances of the law, will make sure that the sale and purchase agreement illustrates the start and end dates of construction work, intermediate stages, and also provides for compensation in case of their violation.

Risk No. 2. Not getting TAPU from the real estate developer

Even in the early stages of construction, with 100% payment for the apartment, the client is issued a TAPU from the Cadastral Administration - the only document confirming the ownership of the apartment and legal protection of interests.

According to the law, the conclusion of an agreement with a foreigner must be carried out in the presence of an interpreter. Unscrupulous developers invite their own person who translates the purchase and sale agreement verbally, missing important points. The client receives instead of TAPU (property rights) an ordinary notarized power of attorney for real estate. This significantly limits the ability to dispose of property.

Next, the client must be given an ISKAN (technical passport) - a document that confirms that the housing is suitable for living. Without it, the owner of the property cannot either live in the house himself or rent it out.

Solution: after full payment for real estate in Turkey, be sure to get TAPU and ISKAN, because if they are not there, most likely, there is some kind of catch.

Also, do not follow the developer's lead by agreeing to his translator. Film the interpretation (with the permission of the participants in the transaction). The complete security of a business transaction is guaranteed by contacting a reputable real estate agency. Employees conduct a thorough check of all documents for the selected apartment.

Risk number 3. In fact, get an apartment of a smaller area

In Turkey, the area of ​​an object is calculated specially along the outer perimeter of the building, considering balconies, loggias, landings, etc. On the layouts, two values ​​\u200b\u200bof the area are often shown: gross and net.

Solution: carefully check all the parameters of the purchased apartment yourself or entrust it to an experienced realtor.

The team of the international real estate agency HAYAT ESTATE will be happy to help you avoid all the risks associated with acquiring real estate in Turkey from a developer during the construction phase. We:

• We know the market like the back of our hand. Since 2012, we have helped over 700 clients to profitably invest in real estate in Turkey. Their positive feedback testifies to the professionalism of our team. We perfectly know the Turkish legislation in real estate and construction and are ready to apply all our experience and knowledge to increase the well-being of your family;
• We work with reliable and trusted developers in Turkey, who flawlessly fulfill their obligations under contracts for the sale of housing. We will select for you the most profitable option for investing in real estate, based on your budget and financial goals;
• We carry out a three-level examination of the transaction for legal purity. With us, you will be absolutely sure of the safety of your funds.
• We will offer real estate prices the same as directly from the developer. When buying a commission, the agency is paid not by the buyer of the apartment, but by the construction company as its sales department.
• We take care of all the paperwork. You only need to make an important decision - to invest in Turkish real estate!

With HAYAT ESTATE, the purchase of real estate in Turkey will be a safe and highly profitable investment. Look to the future with confidence!