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August 28, 2020

10 points you have to read well before singing a property sales contract in Turkey

The sales contract is an agreement to buy a specific property for an agreed amount of money in return for ownership of the property, usually sales contract has 2 parties the buyer and the seller (which is usually the construction company )
Singing the sales contract of the property you want to buy in Turkey is the starting point of owning it , it’s not the final step like the title deed but the contract is very important to avoid any possible future risks
We in Taksim real estate advice all customers to have a draft copy of the contract before signing it, in order to read it well , translate it to their language in case the contract is in Turkish language .

And here are 10 points you should read well before signing your contract :

1 - Title deed cost:

Title deed is the real proof of owning a property in Turkey, construction companies in Turkey usually transfer the ownership of property after finishing all payments by customer.
Title deed cost in turkey is usually 4 %.
Usually the cost is divided equally between two parties 2 % from buyer, 2 % from seller.
But sometimes construction companies put the whole cost to be paid by customer. So, the customer should be careful about this point and ask about it in case it was not mentioned clearly

2 - Number and area of property:

In Turkey, they usually number all the apartments, shops of a compound even if its still under construction. So, the number of property should be written in the contract
Also, the square meters of the property (apartment, shop …etc) should be written in the contract for both gross and net area.
Even the floor plan of property should be attached with the contract and signed by both parties.

3 - Floor and block:

In case you are buying an apartment, floor of apartment and block number should be written clearly in the sales contract , Even if you are buying a shop, the block number where the shop is located should be written as well

4 - Direction:

Direction of the apartment is important to be written in sales contract to avoid any mistakes or scam connected to the numbering of apartments specially if you are buying an under construction property.

5 - Date of delivery:

In case the property is under construction, so the Date of delivery should be written in a clear way in the contract , If the property is ready to be delivered, so no need to be mentioned.

6 - Payment methods and installments :

The price agreed between two parties should be written in the contract along with the date and amount of all payments (deposit, down payment, installments) as agreed.

7 - Terms of cancellations:

All contracts should have a subject about what will happen in case the customer (buyer) wants to cancel the deal.
Usually in Turkey, in case the customer wants to cancel the deal after signing the contract and paying an amount of the money or total amount, they subtract 3 % from the total amount and refund the rest to him.
But this is changeable from company to another, so you should read the point well.

8 - Penalties for both parties:

♦ Penalty for the delay of buyer: In Turkey, they usually add an interest on buyers when they delay their payments. So, this point should be added clearly in the contract and buyer should be aware of this point and the interest rate which the company may apply it when payments are delayed.

♦ Penalty for the delay of developer (construction company): The sales contract must contain a penalty clause on the construction company if it delays in delivering the property on the specified deadline agreed in the contract.
The penalty which should be paid by developers usually is the market value of monthly rent for property for each month’s delay.

Note: the law in Turkey give all construction companies a right to delay for only 6 months after the date agreed in the contract. So, any penalty on developers should be calculated after these 6 months.

9 - Bank account of the owner:

The bank account of the construction company must be clearly mentioned in the contract and be signed by both parties.

10 - Specification of the property:

All the specifications of the property and how it will be delivered should be written clearly in the contract as kitchen specification, floor of apartment, windows brands …etc.
In Turkey, if you are buying an under construction apartment for example, they usually show you the sample apartment and all the Specification you see (except for furniture which is only for show) in sample apartment should be the same when you receive your apartment

We as Taksim real estate consultancy read the contract well on behalf of our customer (in case our customers want that) to make sure that everything is alright and all points are mentioned and true.

Note: these points for those who are buying from developers (construction companies), in case you are buying a second hand apartment directly from its owner for example. the procedures are different

July 15, 2020

Do I need to have a residence permit to buy a property in Turkey ?

No, you do not

The only requirement document you need to make the deal with construction company is your passport.
After buying the property in Turkey you will get automatic residence permit for a year instead of 3 months which was issued in your visa, even renewing it in the future will be easier since you are a property owner.
Buying a property in turkey may allow you to get the Turkish citizenship as well if you fulfil the requirements.

July 15, 2020

Can I get Turkish citizenship If I buy a property in Turkey ?

Up to the new law which was released in 19/09/2018, if you buy a property in Turkey or many properties which their values are 250.000 $ or more and keep them for 3 years, you can apply for Turkish citizenship.

So, the answer is yes, if your property is bought after the new law date and equal to the amount of 250.000 $ or more.

July 14, 2020

Can I get a residence permit in Turkey If I buy a property ?

Applying for residence permit in turkey does not need to buy a property in Turkey, in other words, all people can apply for residence permit even if they live in a rented apartment
So, all people can apply and get residence permit in Turkey whether they own a property or not
But it is easier for owners of properties to get residence permit and easier when they renew it in the future.

July 14, 2020

Can foreigners buy a property in Turkey ?

Before 2012, Turkey has a strict for a lot of nationalities to buy properties in Turkey.
However, in May 2012, new law was released to allow people from 129 countries to buy all kind of properties in Turkey ( lands , shops , apartments , offices , villas …etc )

So nowadays, all nationalities can buy properties in turkey including Americans, Canadians, Europeans, middle eastern, … etc.
Except the people who are from the following countries : Syria, Armenia, North Korea, Cuba.

If you are not sure whether you are allowed to buy a property in Turkey or not, please do not hesitate to contact us. we will be happy to answer all your questions

April 07, 2020

How to buy a property in Turkey in 10 steps

Whether you are looking to buy an apartment, villa, shop or an office in Turkey, all these kinds of properties have the same 10 steps.
Generally, buying a property in turkey will be very simple and clear for you with the following 10 steps:

Step 1. Research about a real estate company

Start the first step by searching and reviewing the website / YouTube / Facebook …. etc. for real estate companies in Turkey in order to choose one of them to contact and to review their properties later in the field.

Step 2. Getting a visa

Getting a visa to Turkey is very easy for a lot of countries , you can get it online for some countries and some other countries are exempted from visa for 90 days , and there are countries that need to visit the Turkish embassy in their countries You can check your country status from the following link :
https://www.evisa.gov.tr/en/apply/

Step 3. Travel to Turkey

Its very important to know more about the country before buying a property, so it’s very necessary to visit and check the areas and streets, in order to love an area which you may buy a property in later.
There are some customers who prefer to buy a property without coming, we in TAKSIM REAL ESTATE don’t recommend our customer to do so, it’s very important to see the property and area before buying.

Step 4. A tour to field

After coming to turkey and choosing the agency which will show you properties , here you start to see properties on the field , we in TAKSIM REAL ESTATE usually offer our customers a free tour to explore and show the properties in order to get a great image about the market and properties before any decisions

Step 5. Choosing the location and a property

This is the most important step of all , we in TAKSIM REAL ESTATE highly recommend our customers to concentrate about location , location and location.
Usually choosing a good location will make it easier for you later to rent it if you prefer, and it will be even more profitable as an investment property in the long run if you would like to resell it.

Tips for choosing a location when you want to buy an apartment :

• Determine your main purpose of the property .. is it for living or investment ?! Determining the goal of buying a property will play an important role in choosing the most appropriate location

• Should be Close to main streets

• Should be close to public transportation like metrobus or a metro station

• Should be close to universities

• Should be close to shopping malls

Tips for choosing an apartment :

• Direction is very important ( in Istanbul for example : north is cold in winter, south is hot in summer )

• If you prefer landscapes view so we recommend you to choose low floors

• Should be sunny

• Should have at least 2 bathrooms

Step 6. Negotiating and paying deposit

After choosing a property you like, here it comes the negotiating step in order to get best discount for the payment method you selected, we in TAKSIM REAL ESTATE usually get the best prices for our customers.
Paying a deposit is very important after both sides agree about a price even if you don’t want to continue the procedures directly because it stops the developers from showing this property to other customers and to fix the price.
Note: all developers in Turkey give you a 15 days period for your deposit to be refundable in case you changed your mind, or you find another proper property or what ever reason its.

Step 7. Hire a lawyer

After completing the negotiation process and paying the deposit, it is preferable to obtain an draft copy of the sales contract and present it to a legal advisor
This step is to make sure that all the procedures are legal with no scam or any kind of fraud.

Usually the lawyer should do the following:

• Check the contract and read it well

• Check the developer status in the market , financial situation and the actual ownership of the property

• Check the status of the title deed and the absence of any mortgages or seizures on the property

we usually don’t offer our customers any properties from low reputation developing companies or Financially unstable , but making a double check by customer is better

Step 8. Signing the contract

After making sure that every thing is legal by your lawyer , here you can sign the agreement between you and the seller (developer) which contains all the required info about the property , space , price , date of delivery , payment method and day of payments … etc.

Step 9. Completing the rest of the payment as agreed

In this step, developers usually give customers a period time to go back to their countries and transfer the rest of money, usually up to 30 days

Step 10. Receiving the title deed

After paying the whole amount of the price , here you can get the title deed which is the proof of owning this property in turkey , and usually this step cost about 4 % of the property value , usually its paid equally between seller and buyer.

Here we finish the 10 steps, in case you have any further questions about procedures of buying a property in turkey You may contact us .

July 30, 2019

Istanbul Airport .. Part of the "Century Project" Turkey dream for 2023

On October 29, 2018, Turkish President Recep Tayyip Erdoğan opened the new Istanbul airport, which named for the city (Istanbul airport). The airport work began partially (40% of the final plan) beginning in April 2019, coinciding with the suspension of Ataturk Airport. Istanbul airport will be fully operational by 2025, which is expected to be the largest airport in the world.

♦ The airport is part of several economic projects in Turkey called the "Century Project", which will contribute to bringing Turkey to the list of the 10 most powerful economies in the world, in order to achieve the most important goals of the 2023 plan.
♦ The new airport planned to be built because the two airport of Istanbul: "Atatürk" in the european side (37 million passengers annually), and "Sabiha Gökçen" in the anatolian side (13 million passengers annually) are no longer able to accommodate the volume of passengers through Istanbul.
♦ The total area of the airport is estimated at 76.5 million square meters and will be built in three stages.
♦ With the opening of the first phase, the capacity of Istanbul airport will reach 90 million passengers annually, which in 2025 will reach about 200 million passengers annually. With the completion of the three phases, the airport is expected to accommodate 3500 flights a day from around 350 destinations around the world, with 150 airlines operating. This large number of aircraft has allocated 6.5 million square meters to accommodate 500 aircraft at the same time.
♦ Air traffic control at the airport is monitored through 3 electronic control towers and 8 ground control towers.
♦ In its first phase, the airport will include two separate runways, which will be raised to 6 runways by 2025.
♦ The airport currently has 88 bridges for the passage of passengers, will reach 165 bridges at the completion of the third phase by 2025.
♦ The airport has four separate passenger halls, linked by railways and internal trains:

- A main terminal hall with a total passenger capacity of 90 million passengers, with an area of 680,000 square meters

- The second hall with an area of 170,000 square meters

- A passenger lounge with a capacity of 30 million passengers, overlooking the sea and built on an area of 500,000 square meters (by the end of the third phase)

- A passenger lounge with a capacity of 30 million passengers, built on an area of 340,000 square meters (by the end of the third phase).

♦ The area of free zone and shops within the airport is 100,000 square meters.
♦ With the opening of the first phase, the airport will provide 100,000 jobs and will increase to 223,000 jobs by full operation.
♦ The Turkish government estimates the total cost of Istanbul airport at 23.4 billion euros, of which 10.3 billion euros are construction costs without operating.
♦ According to Turkish officials, the new airport will contribute about 73 billion Turkish liras annually in the Turkish economy by 2025, equivalent to 4.9% of the Turkish GDP.
♦ By the end of the third phase by 2025, the airport will have several service facilities:

- VIP lounges

- Shipping and general aviation stations

- Presidential Palace

- Indoor and outdoor parking with a capacity of about 70,000 cars

- Medical Center

- Rescue aircraft and fire fighting stations

- Hotels

- Conference Centers

- Power plants

- Water treatment and waste facilities

♦ For full information about the airport, available services and flight schedules, please visit the official website of Istanbul Airport through the following link: Istanbul Airport

Location :
Istanbul Airport is located in the european side of the city in the Arnavutköy district, and is 34 km from the center of Istanbul.
The choice of a far location was one of the reasons for the suspension of the Atatürk airport, with the expandeing of Istanbul, Atatürk airport has been within the city after it was out of it when it established in 1953.
Istanbul Airport location on the map: here

How do I get to Istanbul Airport?
♦ Currently the fastest and least expensive way is the "Havaist" Airport bus. The new airport bus network has 48 points spread over all areas of Istanbul. You can know the timetable of departure from and to the airport and the cost of delivery through the following link: Havaist

♦ M11 metro line:
It is the metro line that will connect Istanbul Airport with the Istanbul Metro network. This line will extend from "Şişli" district to Istanbul Airport and continue to the "Halkalı" district. The metro line will be operational from the beginning of 2020.
It is worth mentioning that "Halkalı" marmaray station is the starting point of the Marmaray line, which reaches "Gebze" district in the Anatolian side of Istanbul.
The following link to the metro lines that are still under construction, including the line M11: Metro.Istanbul

Sources:
Istairport.com
Aljazeera.net
wikipedia

July 25, 2019

Bahcesehir area in Istanbul .. The City of gardens

• (Bahçeşehir).. or as can be translated "the city of gardens", is one of the modern suburbs in Istanbul. It is located on the northwest side of 'küçükçekmece' Lake , west of Istanbul.
• Bahçeşehir administratively linked to municipality of Başakşehir, it's 12 km away from its center, and about 26 km away from Istanbul's city center.
• Bahçeşehir Divided into two administrative regions:
Bahçeşehir 1. Kısım: see it on map
Bahçeşehir 2. Kısım: see it on map
• Bahçeşehir is characterized by its fresh air, especially because of its relative height (105 m above sea level), as well as the spread of parks between neighborhoods. also modernity of the building and the way of organization, which gives the residents comfort and calmness.

Government Mega projects:
Bahçeşehir is located next to several infrastructure and transport projects which are the largest in Turkey.
♦ Canal Istanbul project: Which is scheduled to open in 2023, The President of the Republic of Turkey called him "Crazy Project". This canal will connect the Black Sea to the north by the Sea of Marmara to the south, which will be an industrial "Bosphorus".
The canal project is not only a waterway but also includes a huge regulatory area located on both sides of the canal, this area will include high-end housing projects, as well as many other service and leisure projects.
Parts of the Bahçeşehir area will be included in this regulatory area of the canal project, as the center of the Bahçeşehir area is not far from the supposed estuary of the canal more than 2 km.
♦ The biggest airport in the world: the new Istanbul airport, which its first section has been opened in early April 2019. The airport is part of several economic projects in Turkey called the "Century Project", this project will contributes to Turkey's entry into the list of the 10 most powerful economies in the world, in order to achieve the most important objectives of the 2023 Plan.
Bahçeşehir is just 20 km away from the airport, which is easily accessible by airport buses 'Havaist ' which connect the airport with all over Istanbul.
♦ E80 Highway: Which passes directly along Bahçeşehir from the south, This highway is one of the main axis in international road transport, extending to Europe in the west, and cutting Turkish territory to Ankara in the east.
♦ Yavuz Sultan Selim Bridge: The bridge opened at the end of August 2016, connecting the two parts of the city and passing over the Bosphorus.
The width of the bridge is 59 meters and contains 10 tracks, including two tracks for railway trains. The bridge is the longest suspension bridge with railway tracks in the world, with a length of 2164 meters, and its pillars are among the highest in the world with a height of 322 meters.
In fact, the Sultan Selim Bridge is not close to Bahçeşehir, but we have mentioned it as part of the mega projects surrounding Bahçeşehir because of easy access to it from Bahçeşehir by the highways E80, O7 and O4.

Transportation:
In terms of public transport, there are several modes of transport that connects Bahçeşehir with the other parts of Istanbul, in addition to the E80 highway which passes through the south of the Bahçeşehir district as mentioned, we have:
♦ M7 metro line: Which will be in operation at the beginning of 2020, and will connect between Kabtaş in the center of Istanbul and Esenyurt, through Bahçeşehir and Ispartakule.
The following link to the last update of the Istanbul Transportation network (the uncolored lines are under construction), the line connecting Bahçeşehir is the M7 line, will be in operation at the beginning of 2020: https://www.metro.istanbul/YolcuHizmetleri/AgHaritalari
♦ The bus lines: which connect Bahçeşehir with all over Istanbul, and connect the neighborhoods of Bahçeşehir with each other:

• 76D / 76E To Taksim

• 144M To Mahmutbey metro station In Bağcılar

• 146 / E-57 To Bakırköy

• 146BA To Avcılar

• 146T To Yenıkapı

• E-58 To Mecidiyeköy

• MR51 To Halkalı

Integrated service facilities:
There are many service facilities that cater to all family requirements Spread in all over of Bahçeşehir . Universities, schools, hospitals, police stations, commercial markets, gardens and mosques.
Among them, we mention:
♦ Universities: (İbn Haldun Üniversitesi) in Başakşehir, (Üniversitesi-Cerrahpaşa Teknik Bilimler MYO Büyükçekmece Hadımköy Yerleşkesi) and (Beykent University Campus Hadimkoy).
♦ Hospitals : (Acıbadem Bahçeşehir Tıp Merkezi) , (İstinye Üniversite Hospital) , (Bahçeşehir Semt Polikliniği).
♦ shopping centers: There are several shopping centers in the city, including traditional ones such as popular markets or malls, Perhaps the most famous and largest is the Mall of AKBATI AVM , which is considered one of the most famous shopping centers in Istanbul and not only in Bahçeşehir. Its extensive construction, with branches of world-renowned brands, made it a destination for visitors from various parts of Istanbul, making the surrounding area one of the liveliest areas of Bahçeşehir.
♦ Gardens: as we mentioned that the name "Bahçeşehir" means the Garden City, so the gardens spread all over it , like the waterfall Park (Şelale Park), ( Turgut Özal Park) and the most famous garden is the lake garden (Bahçeşehir Gölet Park):
This park has the largest industrial lake in Turkey with an area of 26,000 square meters. The park covers an area of 300,000 square meters and includes various types of leisure facilities including restaurants, cafés and children's play areas, as well as a dedicated venue for art exhibitions and handicraft markets during the holidays.

Taksim Real Estate advice:
Bahçeşehir is one of the best residential areas in Istanbul. In addition to the services available there, the area has a strong and modern infrastructure, and has been given special attention by Istanbul Municipality.
It is also an appropriate area for real estate investment, according to government reports. Property prices in Bahçeşehir region have increased by 71.8% over the last five years. Property rental rates have also increased by 45% over the last five years. This in turn gives real estate investors a good return on investment either by leasing the property or by buying and reselling.

Check our listed properties in the area of bahcesehir with a huge selection of apartments for sale in Bahcesehir:

Apartments For Sale In Bahcesehir Istanbul