Common Misconceptions About Property Investment in Turkey
Since our establishment in 2004, we have encountered many misconceptions about the Turkish real estate sector. In this article, we examined for you what is right and what is wrong about the real estate purchase process in Turkey.
The Facts About Real Estate Investment in Turkey
Misconception: “The property purchasing process in Turkey is hard because the legal transactions and procedures are complicated and time-consuming, as in many countries of the world.”
Fact: The Turkish government facilitated the process in favor of buyers in recent years. So buying a property in Turkey is much easier and faster compared to many countries in the world. For example, there is no waiting period after the title deed transfer applications, and you can complete the purchasing process within three days.
Misconception: “The Turkish Government gets to keep my property after my death.”
Fact: The properties you buy in Turkey are freehold. It means that the right of ownership belongs to the person who buys the property. When you die, your family gets the right to inherit your investment according to the laws.
Misconception: “I don't know if I can trust real estate agents because I have never purchased a property in Turkey before.”
Fact: Turkey is an investor-friendly country, and there are many regulations to protect the rights of buyers. There are many professional and reputable real estate consultancy companies in Turkey, which contribute to the success of the Turkish real estate sector. As Tekce Overseas Gayrimenkul AS, we are proud to be the leading real estate company in Turkey with the professionalism and values we have cared for in the sector since 2004. Click here to view our company profile.
Misconception: “I postpone buying a property in Turkey because I do not have time to go to Turkey to deal with legal procedures or touring.”
Fact: You can complete all legal proceedings in Turkey by power of attorney. Our TeleProperty service provides you a smooth and transparent process of buying a property over the phone. You can join our virtual tours of properties you are interested in and ask any questions about the property or the process. You may take a look at ourTeleProperty page to get detailed info.
Misconception: “The cost of living in Turkey is expensive.”
Fact: It is much cheaper in Turkey compared to many European countries. Also, the purchasing power parity results of the final consumption expenditure in 2019 announced by the Turkish Statistical Institute show that Turkey is the cheapest country in Europe to live in. You can reach our researches on The Cost of Living in Turkey and Why Turkey? Pages.
Misconception: “The majority of the population in Turkey is Muslim, so I'm not sure if I can get used to living in the country with my lifestyle.”
Fact: Turkey has been home to different religions, cultures, and lifestyles where everyone coexists peacefully and is protected by laws. Turkey’s diverse and heterogeneous structure will allow you to get used to the environment smoothly and live freely.
Misconception: “My children do not speak Turkish. I don't think they will get a proper education in Turkey because of the language barrier.”
Fact: There are lots of qualified international schools in Turkey. You can find a school whose official language of instruction is English, German, French, Italian, and goes on.
Misconception: “There will be a lot of taxes I have to pay every year after having a residence.”
Fact: The taxes in Turkey are much lower than in many countries of the world. The housing tax is 2 per thousand in towns and 4 per thousand in metropolitan cities.
Misconception: “The rate of return on the real estate market in Turkey is not satisfying.”
Fact: One of the most convincing reasons to buy property in Turkey is the rate of return on your investment. Take a look at properties in Turkey that you can get maximum efficiency from your investment.