Russians began to actively buy apartments in Turkey

What pitfalls arise when drawing up purchase and sale agreements?

Russians are the leaders in purchasing real estate in Turkey. In February alone, Russian citizens purchased 395 houses and apartments. The top ranking also includes Iranians, Iraqis, Ukrainians and Germans. The most popular cities among property buyers are Istanbul, Antalya and Mersin. About the intricacies of purchasing housing in Turkey, in the material “MK”

The process of choosing housing is similar to how it happens in Russia. In Turkey, there are large online aggregators of offers for renting or selling real estate. One of the most popular sites is called Sahibinden.

However, without knowledge of the Turkish language and the laws of the country, buying an apartment will be quite difficult. For this reason, many foreigners turn to realtors who can explain all the nuances in their native language. Agencies can help you avoid many problems and surprises. However, of course, no one can give guarantees that everything will go perfectly.

The cost of such services is usually 1-2% of the amount of the property. The commission is taken from both the buyer and the seller. For example, when buying an apartment worth 100 thousand euros, realtors should prepare an additional thousand. However, this rule is not necessary; you can bargain and negotiate.

The transaction can take place in lira, dollars and euros. Most often, foreigners are quoted the cost in American or European currencies – the lira is subject to high inflation, and it is quite difficult to understand its real value at the moment.

The most important document confirming ownership of real estate in Turkey is called TAPU. The name indicated on this document with the address and details of the apartment indicates the owner. When the name on the document changes, the owner also changes – everything is quite simple here. The registration process is very different from what happens in Russia. Buying an apartment and completing all the documents can happen literally in one day.

The TAPU also indicates the purchase amount. Most often, the buyer and seller agree to indicate a value less than the actual market value, since the Republic of Turkey imposes an additional tax on such transactions – 4% of the amount.

Today, when purchasing real estate for over 200 thousand dollars, the buyer can apply for a special type of residence permit, which gives the right to apply for Turkish citizenship in 5-8 years. At the same time, you can stay in the country for up to 90 days without any additional documents, and the fine for overstaying (staying longer than allowed) is very small and most often does not lead to problems with entering the country in the future.

In Turkey, unlike many countries, there is a registration system – a local resident or foreigner must register at their place of residence within two months after purchasing real estate. This happens at the migration center, where documents for obtaining a residence permit are also submitted.

If an apartment is purchased for the purpose of renting out, then many realtors strongly advise drawing up a high-quality contract and not sparing money on lawyers who understand both Turkish and the landlord’s native language. This can reduce risks and protect owners, for example, by fixing or removing a ceiling on the rental price. Recently, the Turkish authorities have only allowed long-term rentals of six months or more. If you want to rent out an apartment for a shorter period, you will need to obtain written consent from your neighbors.

Turkey remains one of the countries where it is quite easy for Russians to buy an apartment, transfer money and use the infrastructure: open accounts and cards, draw up all the necessary documents. In addition, the price of an apartment in a region with a similar climate remains one of the cheapest in the world. For 4-6 million rubles, for example, you can buy a decent two-room apartment 20 minutes from the beach in Antalya.

Taking into account the incredibly increased prices for hotels and the relatively low prices for air tickets to Antalya or Istanbul, having an apartment will allow you to enjoy a holiday at sea for at least 90 days a year and even longer if you complete the necessary documents.