Tips before buying a property under construction in Turkey
Some Turkish and foreign buyers tend to own under-construction properties for several residential and investment goals. If their goal is residential, they buy under-construction properties because their prices are much lower than the prices of ready-made properties and wait until the construction work is completed and the apartment is received.
As for buyers of Turkish real estate under construction with the aim of investing, they make an investment that is classified as a “short-term investment.” When the construction work is completed and the title deed is received, they sell the property directly or add modifications of decor and furnishing, then sell it at a higher price and obtain a profit difference that sometimes reaches 300% as a profit surplus. .
Therefore, owning real estate under construction is one of the most desirable types of ownership in Turkey, as it achieves many gains, whatever the purpose of the purchase, but you must take a moment and think carefully before signing the purchase contract. Here are a set of tips that you should read carefully before making a purchase decision.
1- Use a real estate advisor:
If we advise you when buying a real estate to use a real estate consultant once, then we advise you dozens of times and we assure you that a real estate consultant must be present. It is added to the price of the property, as some think. On the contrary, the real estate consultant works to collect the lowest possible price on the property and sometimes deduct his commission in order to complete the transaction.
Here, we recommend the presence of a real estate consultant to accurately inform you of the most prominent projects that are still under construction or have not started their construction yet, and show you the expected profit margin upon completion of the construction work for each project separately, and many advantages that you cannot obtain without the assistance of a real estate consultant.
2- Find the best construction companies in Turkey:
Some followers of Arab and local drama are interested in the name of the director of the work and do not watch the series or the movie if it is not for a strong and capable director. The same for real estate projects in Istanbul and Turkey in general must bear the signature of a strong construction and undertakings company in Turkey with a good reputation, known history, quality finishes and commitment to the date delivery.
3- Read the purchase contract carefully before signing:
Real estate purchase contracts in Turkey are usually written in Turkish and can be translated into English, Arabic or any language spoken by the customer by a sworn translator in Turkey, and a reliable translator can also be used to read the terms to the customer’s ears and the customer asks for an explanation of any item he does not understand or uses a real estate attorney to explain The customer and his rights and duties as a party to the contract, so do not sign the contract before fully and clearly understanding it, bearing in mind that the contract includes two parties, the seller is a first party (the construction company) and the buyer is a second party, and it contains items related to the location of the property, its total and net area, the number of rooms and the space Each of them, the electrical appliances that are delivered with the apartment (if any) and the smart home system, if any, as well as setting a date for delivery that may be after a year, two or three years from the date of signing the contract, but it must be clear and written in the solar calendar (Gregorian) and Turkish law allows With only 6 months delay in delivery, which may be delayed due to weather factors.
4-Take a real estate tour and stay away from remote areas:..
Even if the property is under construction or its construction is not far away, head towards the construction site and look at the land and the surrounding places and beware of remote areas far from transportation, traffic, health, educational and recreational centers and other aspects of life…
5- Make sure that the property you receive matches the plans and photos:
It is necessary for the construction company to adhere to the plans developed before starting the implementation work, and this leads us to the second advice, which is to choose a strong and credible construction company in all areas.
6- Ensure legal safety:
Not every project that begins to be built means that it is free of legal problems. Ask to see a copy of the building permit extracted from the municipality of the region and confirm it by reviewing the municipality. You can also request the easement tab once the foundations are laid and the construction of the first floor is completed.
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