It has become simpler to buy real estate in Turkey!

On the one hand, prices in some areas of the Mediterranean coast of Turkey are not only lower than in the capital, but also in many cities of other European countries. On the other – people from all over the world become full-fledged owners of not only property, but also the land under it. That’s right: by getting the small apartment for €40,000-50,000, you receive the TAPU – the document for share possession of the land under the house. We already talked about it in detail therefore we won't repeat ourselves. We will only add a small note about the role of TAPU in national folklore. In Turkey there is a set of sayings connected with TAPU, and all of them talk about reliability and confidence: “As reliable, as TAPU”, or “Strong like a TAPU”.

Certainly, we try to understand those people who have been let down by governments or money schemes and who look for a dirty trick in each step which is carried out upon purchase of the apartment in Turkey. However, we always provide all documents and we serve as your legal representative in any disputable case.

The appendix to "The law on TAPU" about an exception of the principle of reciprocity of 2008, lifted limits on acquisition of real estate objects for many countries. For citizens of Russia and Ukraine changes concerned the land plots – before they were able to only register them under a legal entity, now free registration is allowed for all. There were restrictions on objects near the Black Sea coast therefore it is necessary to be attentive upon real estate purchase in Istanbul. Popular among Russians and Ukrainians regions of the Mediterranean and Aegean Sea became even more available from the legal point of view.

One more pleasant change gradually comes into force – soon procedure of check of object necessary for receiving of TAPU will happen in Cadastral management department much quicker, as the uniform system of Cadastral cards has been introduced. Earlier all procedures took 2-2.5 months, the changes will allow to cut this by half. Many citizens of the European countries who have signed the contracts in Turkey in the summer and during early autumn were nervous as permissions took 2-3 months. But you shouldn't be afflicted – changes in the long-held bureaucratic system require a little time.

Inevitably, upon the simplification of the legislation demand increase is foreseen, after all changes were not only related to citizens of CIS countries, but also nationals of Iran, Arab Emirates, and Libya. Some experts talk about "dam break" from citizens of these states as demand for Turkish real estate was created a long time ago and it was only a matter of sorting out the formalities. Now we can observe the following picture: we choose the apartment, say, in a big complex near the sea. Tomorrow the whole block is sold. Who is the new owner? Some Arab sheikh decided to make investments in the developing market. Therefore it is worth treating a present situation more attentively: it is extremely favourable for real estate acquisition as the market is very brisk, but cardinal rise of prices didn't happen yet. Considering the tendency of large number of investors arriving from the Middle East, the rise in prices is inevitable. So it is an excellent opportunity to make favourable investments in the apartment or a villa in Turkey today!

Author: RestProperty

All materials and articles published www.restproperty.ru are protected by copyright. Full or partial copying, reprint and placement in mass media and the Internet, without consent of RestProperty is forbidden. After the consent is received, materials can be published on the Internet — and only with the active link to our website.

Published: 05.11.2012