Why Turkey is one of the Easiest Countries to Buy Property - Izmir Estate

Why Turkey is one of the Easiest Countries to Buy Property

1: Time Frame

Many buyers, especially those from the UK, are quite surprised at how quick a sale happens. The timeframe depends on circumstances i.e. whether finances are in place, and the type of home you purchase such as new build, off-plan, or a furnished resale, but some sales go through in as little as three weeks.

 

2: Financing your Purchase

One reason many people choose Turkey is low and affordable prices make it is easy to finance your purchase. Those who want to live here all year round often sell their house in the home country, while others have part re-mortgaged or used inheritance. At an average starting price of £65,000 for an apartment, It is easy to understand the lure for budget homebuyers.

 

3: Low Purchasing Costs and Affordability

In addition to your buying budget, also factor in, purchasing costs. These include lawyers’ fees, translator, notary office fees, stamp duty and other taxes. The good news is in Turkey, this is approximately 9% of the purchase price. 

 

4: What Language Barrier?

A big concern for any foreigner when they look at property for sale abroad is the language barrier. However, in most Turkish destinations, local Turks speak English. In places like Antalya, where there are many Russian and German expats, they will also speak those languages. Head to Cappadocia, which hosts many Chinese tourists and locals will speak those languages as well. So, arranging viewing trips Isn’t an issue. When it comes to legal papers like contracts and signing for the deeds, you must use an officially recognised translator by law, but overall, at every stage of buying a house, you are in control.

 

Easy Tips for Buying Property

Overseas property buyers and sellers don’t have to use a lawyer, but we recommend you do to safeguard your investment. The lawyer is responsible for contracts, handling of money, and checking legalities, the habitation certificate and title deeds details. Additionally, be wary of bargain properties where the price is too good to be true. Sometimes, sellers want a quick sale, so they drop their asking price. Estate agents usually snap these properties up In return for a same day cash purchase because they are flipping them. Hence if a really, cheap home has been on the market for a while, ask yourself why, and judge renovation costs.

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