The construction sector in Turkey is one of the most effective economic sectors that play a major role in the prosperity of the Turkish economy at the regional and global levels, due to the great demand for Turkey and the influx of foreign direct investment to the mega projects implemented by construction companies.
Many construction companies in Istanbul embarked on launching residential and commercial projects in partnership with Istanbul’s municipalities, and the principle of partnership with the government began to spread in the real estate sector, and this is due to the increasing demand for real estate guaranteed by the Turkish government (projects guaranteed by the Turkish government) What is meant by Turkish government projects and what are their advantages .
The Turkish government guarantee projects mean that the project is being established on the basis of partnership between the government sector represented by its construction institutions and the private sector represented by the construction companies, as the ownership of the land is affiliated with the Turkish government as it allocates the land to the construction company to in turn build and implement the project with government companies bearing the responsibility of marketing and Selling to projects executed with its guarantee.
How to buy a property in Turkey with a project of the Turkish government:
The real estate buyer in Turkey inspects the property on the plans, location and view before making the purchase decision, then he must reserve the apartment and go to the main office of the government company and when then a contract is signed between the property buyer in Turkey and the Turkish government and the first payment is made and then the apartment is received. Follow-up installments registered in the contract, and the property owner in Turkey can benefit from the available discounts offers.
What are the advantages of buying a property in Turkey with the Turkish government’s guarantee?
* The government guarantee includes ensuring the progress of the project, completing its construction completely, and handing over the title deed to the owner of the property in Turkey, and the Turkish government supports the area in which the project is located and provides it with all services and facilities from the educational sector such as schools, kindergartens, the health sector such as hospitals and many other services.
And do not forget the Turkish government’s follow-up to the project by visiting a special delegation to inspect the model apartments in the sales offices, as well as the government guarantee according to a contract that is signed upon purchase with a company directly affiliated with the state and registered with a notary.
Contracts in government projects are of two types:
1- A contract of assignment, and the contract is used when buying a property from a Turkish citizen, as he assigns the purchase contract to the investor and thus transfers the entire installment plan to the investor.
2- A direct contract between the foreign investor and the government sector directly, and he is the first owner of the property, but it is not always possible to obtain a long-term installment
When buying a property in Turkey, you must know some important tips that help you complete the purchase process easily and without making mistakes that you do not have to make, including:
1- One of the first advice is to consult a real estate expert who provides you with the investment advice you need when buying a property in Turkey
2- Make sure to have the real estate appraisal report.
3- It is important to complete all procedures for buying a property in Turkey in the Land Registry Department, as any unofficial contracts issued by a notary public are insufficient and do not prove that the property is legally and officially owned.
4- Ensure that there are no restrictions on the property, such as foreclosure or seizure signals that prevent the sale and purchase process
5- The property owner must verify that the real estate data recorded in the deed matches the real property.
6- It is necessary to ascertain the basic purpose of purchasing the property, and what is meant here is whether the property is commercial or residential.