Things You Need to Know Before Buying an Apartment in Istanbul

Unlike in other countries, the Real Estate Agency Turkey should be governed by the law and not have a license to sell properties. The real estate agent should have the experience to deal with the legal issues that may arise in the transaction. Investment apartments are located in an advantageous location in the Pelitli neighborhood in Ortahisar. The well-located apartments are situated in a complex with sea views close to the airport.
Trusted for over 20 years, our portfolio of houses for sale in Turkey is the widest available with offices throughout the country constantly sourcing new and exciting opportunities. Before buying a property in Turkey, you should conduct due diligence to ensure that you are getting the best deal possible. There are dozens of real estate agents in Turkey and you should choose the one that is most experienced in helping foreigners to purchase property.

You may file a motion for the correction if the appraisal district appraised your non-residence homestead property at least one-third higher than its correct appraised value. You must file this motion and pay taxes on the portion of the property value not in dispute before the delinquency date. The appraisal roll cannot be corrected if the property was subject to a property value protest for that tax year.
The Silver Coast, which is situated between Lisbon and Porto, also has some pristine beaches and properties. If you want a beachfront property, but are unwilling to pay the Algarve’s high ticket prices, then areas on the Silver Coast such as Tomar, Peniche, Obidos, or Nazare are right for you. Like the rest of the world, Portugal suffered through many economic troubles in the past. The real estate market got its share of the 2008 global economic downturn. The average value of homes lost around 11% between 2011 and 2012.
Savings from currency brokers can vary from between 1 and 4 per cent on the exchange rate alone, and specialists do not typically charge any fees for transmitting the funds abroad, unlike banks which often levy expensive fees or charges. If you are emigrating and transferring a large sum of money – such as the proceeds of a property – a foreign exchange company could potentially save you thousands. You must register for a Tax Number before you are allowed to open a bank account in Turkey. Many banks demand a residency permit from applicants before they are allowed to open an account in the new Turkish Lira. However, some may make an exception, especially for customers with large investments. Even if you do not have a residency permit or fail to negotiate with the bank staff, do not give up because many banks will happily open up an account for you in other currencies including the US dollar, British Pound, or Euro.

Many people will not be comfortable with the idea of investing in Turkey. Recently, Turkey disclosed that they’re probably going to raise the price of the program. But they’d only be doing that if they felt they could comfortably get that. So, if you need a quick solution for accessing the US, a Turkish passport might be just the thing.
Menu icon A vertical stack of three evenly spaced horizontal lines. First settled around 4000 years ago by the Hurrians during the Bronze Age, the city has been ruled by, in order, the Assyrians, the Arameans, the Persians, the Greeks, the Romans, the Byzantines, and the Ottomans. Its 17th, 18th, and 19th-century architecture draws around 3 million tourists per year. More recently, an underground complex discovered under a Turkish house by looters in 2017 was found to be an Iron Age creation, reports Smithsonian’s Elizabeth Djinis.

The buyer and seller usually split the title deed fee of 4 percent of the sale price. The buyer also pays a value-added tax of 18 percent of the sale price, although the tax is reduced or eliminated in some situations. The buyer’s other closing costs are negligible, Mr. Gürkaynak said, and normally amount to less than $200. Mr. Deggin and other agents said Turkey’s increasingly autocratic government does not seem to have been a concern for many foreign buyers. Against a background of more than 20% annual inflation, the property market was generally buoyant in November, with overall sales surging 59% year-on-year to 178,814 properties, the Turkish Statistical Institute figures showed.
We make fully integrated campaigns; innovative social media and gaming activations; long-form videos and short, impactful social content. We create stories, not just social media posts, from a 12-month roadmap to real-time reactive conversations. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking — delivered daily to your inbox. Junior agents drove branded Minis but if they consistently smashed targets they were rewarded with an unbranded BMW.
In locations such as Akyaka, where the accommodation is saturated, homeowners don’t have to worry about not being able to rent their place out. So this year, I decided to do things differently and agreed immediately to see a flat on offer by a local real estate agent and needless to say, it was my dream come true. Somehow, this year the tides have turned and the first year-round flat available was exactly what I was looking for.

It’s not just bricks and mortar that you’ll be dealing with; the real estate agent you choose must understand the lifestyle you’re hoping to live in. Without an in-depth understanding of your requirements, you may end up in a property that’s not suitable for you. And Turkey is huge; it’s larger than France and four times bigger than the UK and with such a wide range of climate, landscape, and culture, it’s important to work with a real estate agent who knows the area and the market well.
They get you in on a ‘great deal,’ which isn’t a great deal at all. Expert translators are different from sworn translators at a notary. Only a few expert translators exist in the market, which makes them expensive. However, they are only needed if the foreign buyer wishes to attend the Land Registry himself and not via an attorney who has Power of Attorney. This is one of the peculiarities of Turkish real estate, so make sure you never buy a place without visiting it first. Lower priced and older properties carry lower VAT charges than newer and more expensive properties.

Portugal has an unusually high number of homeowners, standing at about 75 percent of the population. Some are expat professionals, some are retirees, while others are digital nomads. Many of them chose to invest in a second home in the Portugal real estate market.

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