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FAQ

Are the sales prices same for foreign and Turkish citizenship ?

Yes.  There is a price list which is the same for both Turkish and foreign customer moreover, you can be sure that for all projects we are presenting, conditions are the same for all customers.

Is the taxation same for Turkish people and foreigners?

Yes, the taxation system is exactly same for everyone. Please check the answers for the “closing costs” in the useful info. The taxes indicated should be paid to the government or the municipality while purchasing a property.

How do I apply for residence permit in Turkey?

Foreign visitors can stay with a tourist visa in Turkey for maximum 90 days . After your property is registered with a title deed  for you . this gives you automatically one year residence permit. You need to do the application online through Foreigners Police website.

Is It possibe to get residence permit for my family too?

Yes , your husband/wife and your children  who are under 18 years old can also get residency permit .

What do we need to reserve the property that we like ?

You need to bring along to your passaport when we go for viewing the projects. 1% of the sales price should be paid as reservation fee either cash or credit card. This will reserve the apartment on your name, freeze the price for you and give you two weeks time for you to make the down payment. Surely this amount will be deducted from the down payment.

How can I open the bank account ?

In order to open a bank account you need to go to tax office with your passaport to get a  tax number.

What are the penal clauses if I cancel my contract with the developer ?

Generally, there  is a article related cancellation penal clause in sales contracts. This might change between 5% and 10% of the sales price, also will be deducted and the remaining amount will be paid to the buyer by the developer.

What are my rights if the developer does not complete the project on time?

According to the law, an extension period of 6 months will be granted to developers for the delivery of the project. After these 6 months, if the developer still does not deliver the apartment, the developer will pay a penalty monthly to the buyer which is stated in the contract.

What is the average of ROI (Return On Investment) in Istanbul?

In case, you get investment  at the begining stage of a project , the profit is very high in old city centers, the rental return will be 4-5%. However, this rate is able to go up to 7-8% in the developing areas of Istanbul. More over,  there will be appreciation for the sales price of your property which is around 15-20% yearly. When you take into account all these positive factors, you can easily get 100% profit on your investment in some years in Turkey.

What are the benefits of buying at early stages of a construction.

If your main aim that you would like to buy a property is to make maximum profit  from your investment we recommend you to buy your property at launching phase of it. There is a regular increase price from the begining stages of a project until the completion.

Where exactly is the center of Istanbul?

This is a common question that is being asked by foreigners .
Istanbul has a population of about 17 million is one of the biggest city all over the world. and there are 39 districts in the city. Many of these districts have a population more than five hundred thousand people living in and all these districts have their own centers.

Is the resevation fee refundable ?

All the reservation fees you will be paying are fully refundable during the reservation period which is two weeks. For any reason you have option to cancel.

Can I pay in installment payment plan?

Generally, there is an installment payment plan until the completion of the projects. Down payments will be changing between %20 and %50 depending on the project.

In some cases, there might a payment plan ending even after the completion of the projects. Again sometimes, there can be payment plans for completed project.

Is it possible to sell my property before the completion of the project ?

Depending on the project that you have bought. You are able to sell your property before delivery time of the project. There might be 2% or 3% commissions to be paid  to the developer company if stated in sales contract in some cases.

What do I need in order to get mortgage in Turkey?

In order to get mortgage in Turkey for buying property, İts necessary to have a regular income and collect required documents. We will support you in this issue as there can be privileges for some projects.

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