Buying real estate abroad: how to avoid additional costs?


Purchase of real estate abroad. It is possible to make your dreams come true as never before!

Buying real estate abroad is a good investment in the future. People from all over the world purchase properties in Turkey and on the coast of Northern Cyprus.

How to buy a property and avoid overpaying? Everyone wants to have a safe deal without unnecessary hassle, material and time loss.

How to quickly buy real estate abroad and save money?

Use these tips, and buying a property in Turkey will become a pleasant and easy process!
  1. If you do not mind saving or do not plan to move in immediately - think about buying a property that is under construction. Developers usually offer very favourable conditions. In a couple of years, you are going to have a wonderful place of your own!
  2. We advise using the services of a certified agency for the sale and rental of real estate. It guarantees that you will not face fraud and other troubles.
  3. It is better to order the entire set of services (translator, lawyer, notary) from one company. It is simpler, cheaper, and more logical: there are no inconsistencies. The process is quick and smooth.
  4. It is possible to buy a house or an apartment abroad on credit, mortgage or even in instalments. In Turkey, the percentage is quite low. Monthly payments are affordable. Due to it, soon you become the owner of your property!
  5. It is possible to purchase real estate via the Internet. You will only need to arrive to receive the TAPU (for vacation, for example). You can shift all the troubles to the agent.
  6. If you do not plan to live in your property all the time, but you want to receive passive income, use the services of an agency that rents out housing. Also, the agency will look after the property.

What else do you need to know and remember?

The most affordable taxes when buying real estate abroad are in Turkey. It is only 4% of the cadastral value for foreigners and residents. The buyer pays this amount.
Besides, prepare for small additional expenses. For example, a buyer pays for the services of a notary if the client is unable to attend signing the agreement in person. A power of attorney helps, in this case, to receive documents in the name of the buyer. It costs about 200 euros. The client who arrives in person has to pay for the services of a sworn translator (100 euros).
There is also a stamp tax (0.5%) and other minor expenses in the cadastral office. Usually, the amount of costs for a TAPU is 1000 euros and more. Plus, you will have to have a registration of a technical passport for new buildings - about 1000 euros, and the connection of utilities - about 300 euros.
For everyone who wants to purchase housing in Turkey and North Cyprus, Profit Real Estate offers its services. We are always happy to help you!

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