In most countries of the world, governments help people to own a home by providing different facilities. In most countries, a large number of people have been able to use this facility to buy the property they want.
One of the most important ones is lending through banks. Loans with low repayment rates and high repayment periods may be the best opportunity for buyers. The Turkish government, like other countries, lends property to its citizens and foreign nationals. Recently, many property buyers have been able to purchase their desired property by taking advantage of a mortgage.
The Turkish government has facilitated this process by requiring some banks to pay loans to Turkish citizens and foreign nationals. On the other hand, it has helped turnover and liquidity into the country’s economy, create added value, and ultimately contribute to economic stability. In the following, we will describe the methods of buying property in Turkey.

How to Buy a Property in Turkey:

If you do not have enough money to buy a property in Turkey, you can choose one of the following ways:

A)Get a Bank Loan:

     Foreign nationals can apply for a loan to buy real estate in Turkey by referring to the reference banks. Like all other types of loans, the mortgage has a minimum interest rate of 8%. It is variable. By purchasing in this way, the property document (Tapu) is transferred to the buyer’s name and the bank mortgages the property by placing a condition or mortgage on the property until it is settled.
The repayment period of these loans for foreign nationals is between 10 and 15 years. Banks pay between 50 and 70% of the property price through loans. To determine the value of the property, the experts of the property bank set the price.

In general, the following documents are required to receive a loan.
1. Completed bank forms related to the desired loan
2. Original and passport image
3. Tax number or the same (vergi numarası) which is obtained from the tax office in Turkey.
4. Copy of the document (Tapu) of the traded property along with the confirmation of its address
5. Certificate of no bank debt from Iran that has been approved by the embassy.
6. Print account turnover in one of the Iranian banks
7. If you are an employee or retired, provide a valid salary slip
8. Valid report of assets ‌ in the country
9. Valid report on the amount of monthly income if you have a freelance job in Iran
10. Sample of its confirmation signature

       It should be noted that the above documents are requested jointly in most reference banks. Other banks may request additional documents.
All the above documents must be officially translated and submitted to the Turkish Embassy in Iran.
After reviewing the above documents, confirming them and obtaining the pricing report by the bank representative, the desired loan will be granted to the buyer.
1% of the total loan amount as a penalty – if less than 36 installments remain.
2% of the total loan amount as a penalty – if more than 36 installments remain.
Also, sometimes the bank in question may repay the loan amount in foreign currency (other than the Turkish lira such as the dollar), which will have its own special conditions.

B)Pay in Installment: 

     Another way to buy a property in Turkey is to pay in installments. Due to the increase in acceptance and many requests by foreigners, banks have set up contracts with real estate companies to facilitate the purchase conditions for foreigners so that applicants can refer to these companies from these facilities. Benefit.
According to the contracts concluded between banks and construction companies, residential project sales offices can sell in installments. That is, they sell their property in installments to foreign nationals and Turkish citizens. Construction companies are required to enter into a formal and legal contract of sale to the buyer How to sell in installments The method of installment in different projects with different manufacturers is different. Settlement time is usually considered between 1 to 5 years, but in different projects this time can be longer.
After complete settlement, the builders transfer the document (tapu) of the desired property to the buyer. During this period, the buyer can easily live on his property. It should be noted that some construction companies, depending on the type of project and its location, make a conditional sale (mortgage), ie the transfer of the conditional document is done in the name of the buyer; In both cases, it is not necessary for the buyer to go to the bank, but the contract between the owner and the buyer must be thoroughly and thoroughly reviewed by experts and approved by the Turkish Notary Public (NOTER). It should be noted that in this method, the manufacturer usually does not have a request for interest and profit, and this is very beneficial to the buyer.

In Buying in Installments, Two Types of Property are Traded:

Type 1) Residential project under construction: For applicants who are only looking to invest in Turkey, the best and most profitable method is shopping malls under construction. Delivery times for projects under construction are different, but we must keep in mind that we can not live in them soon. The prices of houses under construction are usually lower than ready-made houses, but when the project is completed, the cost is relatively higher and they are very profitable when they are sold.

This type of purchase should be very carefully examined and inquired. Whether the construction company is reputable or not, whether other outsiders have made a purchase from this project or not, whether the value of the property in Tapu is fully considered or not … .. You should pay close attention to all these points. To inquire about some of this information, you can refer to the Tapu office of the city.

Type 2) Buying a ready-made residential property: If you are looking to stay and live in Turkey but do not have enough capital to buy a residential property, this type of installment purchase is the best way to achieve your goal. In fact, you use loans indirectly in this way. Construction companies sell their properties in installments under the agreement of the banks. They are the guarantor of the purchase and remain in the mortgage of the bank until the end of the settlement. Usually, the buyer has to pay between 30 and 50% of the total house price in advance and the rest must be paid in installments. In this method, because the loan is received from the bank, the interest and interest of the loan must be paid.