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Over the last 15 years, Turkey has been a popular destination for foreigners looking to purchase a property or start a business. The reason for the rush to buy property in Turkey was that it provided extremely cheap property choices compared to several European nations. Even in 2021, you may still get decent or even better offers because the country guarantees a safe and comfortable lifestyle accompanied by excellent climatic conditions at affordable pricing. There were a few real estate horror stories of people who acquired properties in Turkey, especially in the early years of the real estate boom. After purchase, some customers learned that they did not receive what they expected or that the owner had sold the property to other buyers. There were even reports of people being scammed and receiving nothing in return for their so-called "investment." The huge majority of property purchase transactions in Turkey were completed smoothly, and the majority of customers were pleased with their investment; however, these rare situations in which things did not go as planned were emphasized in internet forums, etc. As a result, they affected negatively the whole Turkish housing market and real estate agents. Fortunately, rising foreign investment has forced the government to strengthen controls and enhance penalties to prevent real estate fraud. These issues have largely been eliminated as required procedures have been adopted. However, this does not mean that everything is secured or that the purchasing procedure is simple. Purchasing property in Turkey is fairly safe and simple if you do things correctly and deal with a competent real estate company that understands what they are doing. The first and most important step is to find a qualified company with reputable lawyers. A competent real estate company provides purchasers with a greater sense of security, which is particularly important when buying a property abroad. A title deed, for example, is the most important component of this procedure. Before promoting the property, your real estate agent should verify the title document to see if the seller is the original owner. They should also look into whether the title deeds are collateral for any loans or if the owner has any outstanding debts that you may be responsible for if you acquire the property. In brief, you should conduct research on the company for which you will be working to make sure that they are trustworthy. There are several questions you must ask. How long have they been in this sector? Do you know anybody who purchased a property from them? Do they have a physical location and a website? You should also deal with a local real estate agent who speaks your language well or with whom you can communicate effectively if you share English as a second language, for example. So we know that language is vital in order to avoid buyer confusion. If you do these things correctly, it is just as safe to buy property in Turkey as it is in any other country with high professional standards.

Guide to Buying Property in Turkey

By

Hamza Laalioui

Posted in Real Estate On

Buying Property in Turkey: A Comprehensive Guide

Turkey’s Appeal in Real Estate Over the Last 15 Years

Over the past 15 years, Turkey has emerged as a go-to destination for property investments. Its competitive edge? Properties far more affordable than most European countries, coupled with a promise of a serene lifestyle and favorable climate. That is why several investors decides buying property in Turkey.

The Early Real Estate Hurdles

Initial phases of this boom were not without issues. Some investors found their properties resold, or worse, they fell prey to scams, leaving them with no property post-investment. However, it’s crucial to note that such cases were few. Most transactions were seamless, but the negative stories gained traction online, casting a shadow on the Turkish real estate scene.

Government Interventions and Real Estate Security

With foreign investments pouring in, the Turkish government stepped in, tightening regulations and meting out stricter penalties for fraud. This proactive approach has virtually erased major property scams. Yet, caution is a traveler’s best companion. Aligning with a knowledgeable real estate company ensures a secure transaction.

Finding the Right Real Estate Partner

Choosing a seasoned real estate company is paramount. They offer the much-needed assurance, especially when investing overseas. Key elements like the title deed require meticulous verification. Your chosen company should be adept at this, ensuring the property isn’t collateral against loans or carrying undisclosed debts.

Researching your prospective company is vital. Ascertain their market standing, seek testimonials, and confirm their physical presence and online footprint.

Communication is Key

Engaging with an agent fluent in your language or a common language ensures clarity. This negates potential misunderstandings, guaranteeing a smooth property acquisition journey.

In Conclusion

With the right precautions, buying property in Turkey is as safe as any other professionally regulated country.

For more insights on real estate investments and market trends, visit our blog page. Ready to make an informed property investment in Turkey? Contact Prestij Consulting today!

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