Home Things to Watch Out When Buying Property in Turkey 2

Things to Watch Out When Buying Property in Turkey 2

Property Purchase GuideYou want to buy a property, but you don’t know from what area, which project and what type of apartment you want.

Finding the right home for you and your family is very important. When making this sensitive decision you need carry out a thorough and careful research together with it. Let’s see what you need to watch out for.

Determining the needs

Personal needs and preferences need to be determined correctly. Will you be buying the property you have determined to live in or for investment purposes? If you are considering living there, the first set of criteria in your selection need to be the expectations for a social life, distance from your place of work and transport facilities, the close proximity of a school and how the other members of the family will reach the center. If it is for investment purposes, out of town projects will be more advantageous than those in the center.


If you are buying the home for investment purposes, your target needs to be ‘low cost, high return’. In this respect your interest should move to regions which are developing and which may become an opportunity. This means that during your selection you will also need to research the investments planned for the region in order to add value to it, such as hospitals, an airport, the metro and a university, in addition to the characteristics of the property itself.


The decorations of a show-home aim to take your imagination to the maximum level and display the optimum use features of the property. When buying a property, remember that you are not buying it together with demonstration furniture. Also, make your choice based on net square meter area rather than gross. Similarly, do not forget that advertising and notices are also vehicles. You need to research the construction company and examine the facilities presented together with the project in detail.

Compare rental prices

Compare the home you have chosen with the apartments in the surrounding area in terms of their sales and rental prices. When comparing the sales prices of properties, take the rental prices as your basis. Calculate – roughly – how many years it will take the property to pay for itself, by dividing the sales price into the rent. You can make the comparison according to this.


The experience and financial structure of the construction company are important for the quality of the property, the reliability of its infrastructure and its timely delivery. Making your selection from among well-known and reliable construction companies will ensure that you do not spend too much time on this criteria. If you are making your selection from an old building rather than a new project, support must be obtained from an expert. Its compliance with the earthquake regulations needs to be ascertained.

Is there anyone living in the property?

If the homeowner is living in the apartment you are planning to buy, find out how soon they will vacate the apartment, and if there is a tenant, find out when the contract is coming to an end. These also need to be among the criteria when making a decision.

The Title

You have found the property you want to buy. First of all, research the status of the title. Find out the land share and share amount of the real estate. Question whether the said apartment is the same apartment as on the title. Also research whether there are any tax obligations, attachments, liens, mortgages, enforcement orders or other similar claims on the title. If you are buying a property from a project with a loan, the title is even more important. Obtain definitive information from the land registry before making a decision. The titles of properties are of three different types – shared title, construction servitude and condominium title. Condominiums can be more advantageous as it makes the sale of it easier. Do not forget that banks do not accept properties which are not construction servitude or condominium title, and which are shared ownership or have mortgages on them and that they will not proceed with the loan transaction.

For a property mortgage

It will be easier to obtain a home loan from a bank of which you are already a client. Therefore, begin your research with the banks you already work with. Determine the amounts to be paid in cash before the purchase and the amount of the loan in advance. It will also be a good idea to determine the amounts you can borrow by making a preliminary application to the banks. The planned loan amounts and the amounts which can actually be obtained may differ. Also, do not forget that the bank will have a valuation carried out by an expert in order to determine the value, before determining the loan amount. It is also an important detail that you will need to pay a certain percentage of the amount of the loan determined by the bank, in cash. Examine the interest rates, loan expenses and the total amount to be paid to the bank in detail, and make comparisons. The amount of loan you will end up paying needs more care than the price of the property. When buying a home using a mortgage, if you take care to ensure that your loan installments do not exceed 30 percent of your monthly income in long-term loans, you will be able to go through the payment period comfortably.


When obtaining a mortgage, be aware that the banks have responsibilities to you, so ask for your rights. These are set out in the Consumer Protection Legislation for you to be able to examine. When searching for finance for the property you are going to buy, when it is still at the project stage, it will be appropriate to give priority the banks which the construction companies enter into agreements with. In this way, you will not be faced with situations such as the apartment not being delivered on time or ending up being different than what was expected. Only compulsory earthquake insurance is obligatory with a mortgage. Banks may offer you additional insurances, such as life or home insurance. We recommend that you evaluate these as additional security rather than additional cost. In this way, you will have both a safer credit repayment process and have taken additional measures for the home.

The Contract

If you are buying a property from a project, and it has yet to be completed, have the contract examined by an expert. Make sure that all of the conditions you want have been provided. Be aware of what you are signing.

You have determined your requirements, conducted your research and established your budget. When the time comes to move into action and view the properties, do so with a real estate consultant who is an expert in the region you have selected. In this way, you will be able to reach the correct information concerning the property and the other properties in the surrounding area, fast. Additionally, select one consultant as your consultant for each region. Remain in contact with him / her. If you work with more than one real estate consultant for one region, this can become confusing and the flow of information may become less efficient.