BUYING A HOUSE UNDER CONSTRUCTION FOR

TURKISH CITIZENSHIP PROGRAM

The Republic of Turkey Citizenship Program requires the applicant to invest in the country. The rapidly developing real estate market and the rapid appreciation of the real estate you will buy make the acquisition of Turkish citizenship through the purchase of real estate much more attractive.

Recently, the Turkish Government has taken steps to support foreigners to acquire Turkish citizenship by purchasing real estate in Turkey for many reasons.

Thus, foreign real estate investors (and their families) have been granted the privilege of obtaining Turkish citizenship if they purchase real estate worth at least $400,000 in Turkey.

You can read our article about obtaining Turkish citizenship and the advantages of buying real estate in Turkey by clicking here.

BUYING A HOUSE UNDER CONSTRUCTION

A property under construction is preferred because it costs less than ready-to-move properties and is also an investment opportunity considering the rapidly developing Turkish real estate market.

1. Transfer of The Property

Preliminary contracts for real estate, which are made in writing or arranged at the Notary, do not provide the transfer of real estate on their own. These contracts only serve as a commitment to transfer ownership.

If the immovable in question is not under construction and has a title deed, it should be ensured that there are no obligations such as mortgages, liens and similar encumbrances that may prevent its sale or reduce the value of the immovable. This is a situation that should be checked before starting the sales transactions at the land registry office.

2. Points To Consider When Buying A House Under Construction That Has Not Yet Been Completed:  

1. The construction company needs to be fully investigated.

2. The Building Permit document and the Zoning Plan must be checked.

3. Construction Servitude Deed and Land Registries should be examined. In order to avoid any problems in the settlement, the project approved by the municipality and the construction must be the same.

4. It will be in your best interest to write a detailed explanation on the receipt for all the money you have paid. You should definitely not pay by hand.

5. The Delivery Date (Turkey) and similar transactions should not be missed.

6. Remember to check the construction progress regularly.

7. It will be in your best interest to have the contract examined in detail by a lawyer.

It is often preferred to buy property under construction, especially to gain Turkish Citizenship. We can do all your citizenship procedures for you through our experienced lawyers, even without having to enter Turkey. You can reach us via e-mail at info@tealhukuk.com  or via Whatsapp.