Life in Turkey
Turkey is a prosperous country located at the crossroads of Europe and Asia. Its flavour, traditions, unique attractions, mild climate, and comfortable resorts attract many foreign tourists every year.
Today living in the Republic of Turkey for many foreigners is more exciting than living in some EU countries.
There are obvious advantages of living in Turkey.
An actively developing economy will allow you to live in comfortable conditions and enjoy all the benefits of the Mediterranean climate, start your own business and invest in profitable industries, construction, and agriculture, get a high-paying job and ensure a bright future for your children.</p >
The relatively low cost of living in Turkey guarantees a comfortable life even with an average income. High-quality medicine, food, healthy environment will help you remain active and healthy at any age.
The Turkish government annually simplifies the procedure of real estate purchases for foreigners. The overwhelming majority of accommodation on the resort real estate market is well-known for its liquidity and quality of construction. Hence, the number of foreign buyers is constantly growing.
Buying an apartment in Turkey is a serious step that requires careful consideration before making a final decision. NEW TIME Investment will help you invest in Turkish real estate wisely!
The international company NewTime investment is a leader in providing qualified assistance in the real estate, construction, and investment sector.
NewTime Investment services include an effective solution to any issues related to the real estate purchase, assistance in adaptation, and ensuring your comfortable stay in Turkey.
We will do our best to save your time and effort to find the best deal!
A rather difficult task for the buyer is to choose an apartment among the variety of objects on the market. If you are willing to buy your dream home and make a profitable investment of your savings, you will need to consider the tiniest details (location, distance from the sea, area and layout, views from windows, infrastructure, quality of construction, etc.)
An inspection tour to Turkey for real estate selection is one of the most effective ways to make the right decision and buy liquid property.
NewTime Investment company invites you to join our inspection tour. Here you can check the apartments you like, ask questions, feel the city vibes, experience the life of foreigners in Alanya, learn plenty of handy information first-hand.
The duration of the inspection tour is 5-7 days.
You choose a convenient time for the trip and buy tickets, and we take care of the rest.
The introductory tour from NewTime investment includes:
- Pick up at the airport and transfer to Alanya
- Accommodation in a comfortable apartment or apart-hotel
- Viewing the real estate of your choice
- Professional consulting
- Sightseeing tour of Alanya and its districts
- Transfer to the airport
- Depending on the purchase price, a refund of the ticket price is liable
What if there is no opportunity or time to visit Turkey for an inspection tour? NewTime investment offers an alternative and convenient way to to view your favourite real estate properties without leaving the comfort of your home.</p >
Online viewing via platforms Skype, WhatsApp, Viber, Zoom, or other popular messengers will allow you to see the apartments of your choice in real-time. You submit an application then, you choose real estate options, and we arrange a virtual meeting.
Together with our specialist, you can carefully examine the internal layout, decoration, interior and walk along the street so that you can feel the Mediterranean atmosphere of the resort. We will show you the infrastructure of the residential building, walk around the area and even go down to the beach.
During the virtual viewing, we will give detailed answers to any questions you might have about the property and the conditions for its purchase. It is a great opportunity to assess possible investments without wasting your time or money!
In addition to the online tour, remote real estate purchase is available to all our buyers.
Housing on the shores of the Mediterranean sea in Turkey is a cherished dream for many foreign citizens. Thanks to the mortgage fulfilling this dream have become even more affordable for buyers today.
A Mortgage is a purchase of real estate where the property serves as collateral to secure the loan. Today it is one of the most popular ways of purchasing Turkish property for those foreigners who cannot cover the cost immediately. Any foreign citizen who is legally entitled to buy an apartment in Turkey can obtain a loan. Taking out a mortgage in Turkish banks has several advantages for buyers, including low fixed rates for the entire payoff period, availability, and simple paperwork. Loan rates vary from 5 to7% per annum in foreign currency and 13% in Turkish lira. The mortgage term is up to 10 years. The amount available for a mortgage is usually up to 50% of the assessed value of the real estate.
NewTime Investment knows knows how to take a mortgage with the most favourable terms in Turkey.
We are ready to help throughout the mortgage application process:
- choose the best loan offers among Turkish banks
- collect the required documents
- translate papers into Turkish and notarize them
- check the assessment of real estate and the validity of the application
Some concerns may arise after purchasing property abroad. How to adapt to a new place of residence easily? How to start life in a new country? Where to buy furniture and equipment for an apartment? Sometimes there is not enough time to do everything, or there is not enough energy. Sometimes, there is no basic knowledge of life in the Republic of Turkey.
The after-sales service department of NEW TIME Investment provides a wide range of services to all its clients.
We will help:
- Efficiently solve any household or technical issues.
- Manage real estate in your absence.
- Choose and buy furniture and household appliances for the apartment at a reasonable price.
- Promptly sign utility contracts.
- Choose a provider and connect to the Internet, landline phone.
- Obtain an individual technical passport for the object, pay taxes..
- Obtain medical and property insurance.
- Arrange transfer, car rental.
There are no difficult questions or impossible tasks for NewTime Investment team!
We are always ready to help clients.
It is no longer a secret that far-sighted foreign investors see the purchase of Turkish real estate as a profitable investment and an excellent opportunity to receive a stable income. One of the most popular ways to get a return on your investment is by Renting out an apartment.
Are you planning to come to Alanya on vacation once or twice a year? You do not wish your home to be deserted? Renting is an excellent way to use your property wisely when you are away. That will allow you to receive a stable income and cover the maintenance of the apartment on Aydat and utility costs. Profit from renting an apartment in Turkey accounts for about 5-8% per year.
Employees of the agency NewTime Investment:
- Will advise you on renting real estate in Alanya and various aspects of running a rental business
- Will offer a catalog of apartments that are interesting lease-wise and provide a high return on investment
- The rental department of our company will find clients and help you make a profit after you purchase an apartment,
Contact us. We know how to make renting out housing in Turkey profitable!
The Turkish government strongly encourages foreign investment in the economy, providing favourable and secure conditions for property purchase. One of the examples is the registration of TAPU and residence permit after the purchase of the real estate.
TAPU in Turkey is the prime document confirming the legal ownership of real estate, which cannot be disputed even in court. The certificate of ownership is issued by the only governmental agency the Cadastral Office after the deal is closed and full payment is made.
A residence permit in Turkey or Ikamet is mandatory for those foreigners who plan to permanently reside in the country for an extended period. Is it possible to obtain a residence permit in Turkey by purchasing real estate? Yes. All foreign investors can obtain a residence permit for 1-2 years and renew it an unlimited number of times.
NewTime Investment Agency provides legal assistance to its clients in purchasing, registering real estate, obtaining a residence permit, and Turkish citizenship.
You may need assistance and guidance from our professional staff in the process of document preparation: lawyers, financial consultants, a sworn translator. If you do not want to waste your time and effort, we will do everything for you with power of attorney!
The Turkish real estate and construction market are one of the most promising and actively developing in the world and they open up great opportunities for far-sighted investors to make good profits in a relatively short period.
One of the main goals of NewTime investment is continuous development.
We believe that there is no room for complacency and to expand the range of our services.
We believe that there is no room for complacency and to expand the range of our services.
In addition to renting and selling real estate, we are looking for new ways of mutually profitable collaboration with investors. The international company NewTime Investment is now ready to offer an individual investment plan for every client and the opportunity to work with us on the construction of their villas and small modern residential properties in Alanya.
On our behalf, we guarantee:
- Professionalism and competence in finding a solution to any business problems.
- Individual approach to every client.
- Responsibility when making decisions.
- Mutually beneficial terms of cooperation.
- Honesty and trusting professional relationship.
- Creative and unconventional approach.
Ikamet or a residence permit in Turkey is issued to foreigners if they plan to permanently reside in the country for more than 3 months. To obtain an ikamet, you must submit an online application on the Directorate General of the Migration Service of Turkey website.
After filling in the electronic form, you will be offered the date of the meeting. You will need to bring the following set of documents:
x Printed application form
x Original and colour copy of the passport
x Receipt of payment of the application for ikamet
x Biometric photos (4 pics.)
x Insurance for the entire period of stay in Turkey (as a rule, insurance is issued for a year)
x TAPU if you are a property owner or a lease agreement.
The decision to issue a residence permit in Turkey will be made within a few weeks.
The initial registration of a residence permit (ikamet) is approximately 150 euros per person. Renewing your residence permit in Turkey will cost you a little less. It all depends on your country of origin.
Since 2017, individuals in Turkey are not allowed to rent out apartments (short-term).
Alternatively, there are two other ways to rent out your apartment:
x long-term rental;
x guaranteed rent.
A long-term lease implies the renting of housing for one year. However, in this case, private owners will need to meet several mandatory requirements: to certify the concluded lease agreement at a notary office, to register the tenant at the address of temporary residence, if the tenant is not a citizen of Turkey, his TIN, issued in Turkey, will be needed.
Guaranteed rental — renting out real estate through a management company. In this case, the company will deal with all questions regarding finding tenants, preparing an apartment for rent, and any day-to-day problems. You get your interests and have the opportunity to relax by the sea in your apartment several times a year. Before buying accommodation, it is crucial to make your goals clear for realtors so they can choose apartments suitable for these purposes.
No, it is not needed. Buying real estate is available to almost all foreigners. Your international passport would be enough. You receive a residence permit in Turkey after purchasing real estate and registering TAPU.
Turkey is a country of contrasts and new opportunities. In the case of monthly living expenses, everything will depend on your personal preferences, habits, season, type of property, infrastructure, etc.
On average, to live in Alanya, a family of two will need about 2,500 - 3,500 Turkish lira, excluding unforeseen expenses.
The Turkish government has set the recommended monthly living expenses for foreigners at 4,000 Turkish lira ($ 500).
The video below shows an update on the estimated household budget as of December 2021.
Payment methods to purchase real estate in Turkey:
x Bank transfer from the buyer's account to the seller's account (this can be either a foreign account or a current account in a Turkish bank);
x Bank transfer from a legal entity;
x Payment by plastic card;
x Traveler's checks;
x Via international payment systems (for example, WesternUnion).
In Turkey, as in any other developed country, housing owners are required to cover the costs of housing maintenance, including the infrastructure of the residential building, security, caretaker services (kapyji), utility payment, etc. The Turkish word for the owner's monthly maintenance fee is called Aydat.
Maintenance and service costs are added up and divided between all residents. Aydat is equal for all apartment owners in the residential building. It does not depend on the type of apartments and their features, since the staff services and the infrastructure are provided to all dwellers on the same terms. The amount of the monthly maintenance fee and its currency are settled at the general meeting of the owners.
Aydat may vary depending on the tasks. Sometimes the owners take on some of the responsibilities to save money.
Aydat is a mandatory and constant payment and does not depend on whether someone lives in the apartment permanently. Before making a purchase, you should inquire about the amount of Aydat to avoid unpleasant monetary surprises.
On average, the size of Aydat is about € 10-50 per month for a large residential building with a lavish infrastructure it can reach up to € 100-150 per month.
Foreign citizens are eligible to apply for a Turkish passport in the following cases:
x By marriage;
x By naturalization;
x By owning a turquoise card;
x By origin;
x Based on birth in Turkey;
x Long-term employment contract (over five years);
x By significantly investing in the Turkish economy (real estate investments, opening a deposit account, buying securities, and other methods).
Many foreign investors today actively use the simplified scheme to become a citizen by purchasing real estate. According to the law, the cadastral value of the property (properties) must be at least 250,000 US dollars (or the equivalent of this amount in Turkish lira, euros).
After purchasing the property for the specified amount, you apply to the Main Cadastral Department in the area of real estate. Management staff checks the value of the property and the fact of full settlement with the seller. As soon as you receive the TAPU and apply for a residence permit, you can start collecting the required documents and apply for a Turkish passport at the Directorate General of Civil Registration and Nationality. Your application will be approved within one or two months.
The most popular districts of Alanya are the city centre, Avsallar, Tosmur, Kestel, Mahmutlar, Kargicak. Every district of Alanya has its flavor, and it is impossible to give a single answer to the question: what district of Alanya is better. Every one of them can provide comfortable living conditions. Therefore, it all comes to your preferences and purchase goals.
If the purpose of your purchase is profitable renting or resale, we recommend you to focus on the city center with the main attractions, entertainment, and good beaches. Other options to consider are Oba and Cikcilli, favored by Europeans.
If you are looking for luxury real estate, villas, penthouses, and spacious apartments in new enormous residential buildings, consider properties in the Kestel or Konakli districts.
We invite you to join our trip to the Tosmur region in Alanya.
We present a video instruction and a short description of what documents banks require to open an account. The first two documents required in all the banks are a passport and a tax number (TIN) obtained in Turkey. Below you will find the additional documents requested by different banks and more detailed information.
✅ Garanti Bank, Deniz Bank:
Receipts for water and electricity. If there are no receipts, then a certificate of residence in the country of origin, translated and certified by a Turkish notary. If there is no such certificate, then ikamet (residence permit).
✅ Kuveyt Bank:
Receipts for water and electricity. Belarus and Kazakhstan citizens can not open an account without a residence permit.
Receipts for water and electricity bills paid for the last three months. If receipts are not available, a certificate of registration from the administration/municipality (Beledie).
Receipts for water and electricity bills paid. If receipts are not available, a certificate of registration from the administration/municipality (Beledie). All foreigners without an ikamet (residence permit) can not open an account.
✅ Ziraat Bank:
Receipts for water and electricity. Foreigners without an ikamet (residence permit) can not open an account.
Do you want to buy real estate in Turkey, but do not have a sufficient amount of money? Then the right decision is to apply for a mortgage in Turkish banks!
In our video we answer the following questions:
✔️ What can happen if you do not pay off your mortgage in Turkey?
✔️ What is the interest rate for mortgages in Turkey?
✔️ Citizens of what countries can take out a mortgage to buy real estate in Turkey?
✔️ What documents are required to apply for a loan?
✔️ What are the additional costs?
✔️ What currency can I get a mortgage loan in?
After purchasing accommodation in Turkey, you will face the issue of getting all the utility services to run smoothly. In this video, we give step-by-step instructions for connecting electricity and water, as well as answer pressing questions on this topic:
✔️ How to issue water and electricity meters in Alanya?
✔️ What documents do I need for registration?
✔️ What methods can I use to pay for electricity and water in Alanya?
The after-sale service from NEW TIME Investment helps you adapt to a new place of residence, settle in and equip an apartment without any financial losses. Newly-made homeowners in Turkey may lack basic knowledge about life in the republic to deal with all everyday issues on their own.
NewTime Investment after-sales service department helps:
📍 Solve difficult household and technical issues.
📍 Manage real estate in the absence of the owner.
📍 Choose and buy furniture, household appliances for the apartment at a reasonable price.
📍 Sign utility contracts.
📍 Choose a provider and connect to the Internet, landline phone.
📍 Obtain an individual technical passport for the property, pay taxes.
📍 Obtain health and property insurance.
📍 Arrange transfer, car rental.
TAPU is a certificate that confirms the ownership of the purchased property in Turkey. Citizens of any state who own real estate in Turkey have equal rights to own real estate in the territory of the republic.
✔️ TAPU is registered and issued in the cadastral department at the location of the property.
✔️ When transferring ownership, a certificate (TAPU) in the name of the new owner is issued after the entry of the new owner is made in the register of real estate.
An important remark, the land or a part of the land located under the apartment building or a detached house (villa) is also considered the owner's property.
✔️ When transferring property rights, the personal presence of the seller and the buyer or their authorized representatives is required.
Types of ownership of a property in Turkey:
1️⃣ RED COLOUR - for owning a plot of land with real estate built on it.
2️⃣ BLUE - for owning land without any buildings.
As a rule, TAPU indicates the cadastral value of the object, not the market value, which is more beneficial when paying taxes on real estate. It is the officially accepted order in the Republic of Turkey.
IMPORTANT! The market price cannot be lower than the cadastral price determined by a special commission of the city municipality.
When buying real estate in Turkey, a certain list of documents is required, which proves the legal status of the purchased real estate. You will find all details in our new video tutorial:
Find the video here
In the video, we will tell you about the iskan (registration certificate of the object) - This document is as essential as the TAPU.
Iskan is a technical passport of an object, an act of putting it into operation, and permission to use real estate or its independent part. This document confirms the compliance of the real estate object (residential building, etc.) with the project, all construction standards and confirms that it is ready to move in.< /p>
Iskan in Turkish is called Yapi kullanma izin belgesi - permission to use real estate.
For those who prefer textual information, we have prepared a detailed article: https://telegra.ph/ISKAN-V-TURCII-09-10
In Turkey, the pharmacy chains provide the best service and are strictly regulated by law. The violation of the requirements of medical trade can lead to imprisonment. Many of you have already heard about the quality of Turkish pharmaceutical products and often bring Turkish medicines to your homeland, along with Turkish sweets.
More details, including useful links and a list of Turkish medicine, can be found in the thematic post on our Telegram channel: https://t.me/Alanya_newtime/349
We present our detailed video instruction on what documents are required when signing a buy-sell real estate agreement in the Republic of Turkey. It will help you feel more confident in the agreement process, which certainly can be nerve-racking. Let your dream of a house by the sea come true in the best possible way and within a legal framework!
We present our detailed video instruction on how foreigners can get a tax number and why they need it.
There are two ways foreigners can get a tax number in Turkey:
- Personal presence at any tax office (Vergi Dairesi) with the original international passport and its copy. TIN is free. After registration, the tax number will be displayed in the systems of all financial institutions in Turkey.
- Online on the official website of the tax office ivd.gib.gov.tr (İnteraktif Vergi Dairesi). Watch the video that covers all questions on the topic.
Watch the video and you will have no questions left on the designated topic.
Are you determined to buy real estate in Turkey by using modern technologies and make a purchase online? Then we have prepared a video instruction for you. In case, you have any further questions, we are always happy to help.
You can find our contacts on the website or in the description under this video.
Foreign owners of Turkish real estate pay the same amount of taxes as citizens of the republic:
- on real estate purchase
- on property
- on real estate rent
- on sale income
- on donation / inheritance
- on luxury
More information in our video tutorial or Telegram channel.