Property in instalments

Purchasing property in Turkey in installments

Turkey is a beautiful, colorful and very friendly country. Today it enjoys, without exaggeration, great popularity among foreigners. Throughout the season, the streets are filled with groups of joyful tourists, and every year the number of visitors increases, as the state can offer not only affordable prices, a good climate and bewitching beauties of nature, but also really high-quality service. Many foreign citizens tend to become owners of apartments in Turkey in order to have their own cozy place to relax and live. When buying an apartment, the owner automatically receives a residence permit, and can also apply for citizenship. Some owners rent out their living space, receiving a stable income and fully paying off all the costs of maintaining the house.

Property prices in Turkey are very loyal, and a large selection allows you to find the most interesting option in all respects. The cost of modern housing in the resort consists of several factors: location, floor space, layout, new or old housing stock, stage of readiness, and others. Is it possible to buy an apartment in Turkey inexpensively? Certainly yes. There are several options for this: the secondary market, purchase under construction and installment.

Peculiarities of buying property in Turkey on credit

In the Republic of Turkey, the practice of acquiring property on credit using installment payments is very popular. Such a scheme has been working for a long time and has been worked out "from" and "before". In the state, in fact, more than half of the square meters are sold in this way. As a rule, at this moment the houses are under construction, which is very convenient for the buyer: while the house is being built, he pays the agreed amount in installments, and by the time of commissioning, the amount has been paid almost one hundred percent.

What is an installment plan? This is an opportunity to pay the owner in installments. Unlike a bank loan, there is no interest on the loan. This method of acquisition can be issued in any locality of the resort republic, whether it be Alanya, Antalya or other cities that are interesting in terms of capital investment. Development companies are happy to make an installment deal with foreign citizens, as for them it is money that they can immediately use for the same construction and not worry that the apartments will not be sold out. Although, at this stage of the growth of the power's popularity, it is almost impossible to assume such a situation.

Depending on the company on property from the developer, the payment period is also limited. As a rule, it can be from six months to five years. In complexes at the stage of construction, it is easier to agree on a longer payment time than in an already finished building. There is also the concept of down payment. The average amount is about 30% of the total price. Legally, the whole process is supported by the signing of a preliminary contract in the presence of a notary, where all the conditions are prescribed. It is important to comply with the requirements of the agreement so that you do not have to pay interest and other penalties provided for. The main document confirming the ownership of – TAPU – issued mainly after the full repayment of the debt. However, many developers are putting into practice a variant in which a TAPU with an encumbrance is issued after 60% of the repaid payments. For them, foreign investors are more interesting, so it is almost always possible to agree on mutually beneficial terms. Money is deposited from anywhere in the world to the specified details.

Installment in Turkey and main benefits:

• Simplicity. To conclude a preliminary contract, you only need a passport.
• No big restrictions. So, any adult citizen of another country from the list of officially allowed powers can get an installment plan.
• During the registration process, the dates of contributions are negotiated, which are convenient for the payer.
• No interest charged.
• Possibility to agree on the duration of interest-free payment for housing, as well as on the amount of the down payment.

If you want to buy an apartment in Turkey in installments, please contact our Status Property agency. We own not only a large and up-to-date database of Turkish real estate, but also have personal agreements with trusted development companies in the most popular resort areas of the state. Status Property employees are ready to provide comprehensive qualified consulting assistance to their clients, provide a free introductory tour, complete the transaction and obtain the best conditions from the developer. Contact us and together we will select the best apartments for you.