Best Ways to Get Financing for Real Estate Purchases in Bursa
Securing financing is a critical step for anyone looking to invest in real estate, particularly in dynamic markets like Bursa, Turkey. Whether you’re purchasing a residential property or exploring commercial opportunities, understanding the various financing options available can significantly impact your ability to make informed decisions and maximize investment returns. In this article from Ebla Real Estate, we will talk about the best ways to get financing for real estate purchases in Bursa.
Best Ways to Get Financing for Real Estate Purchases in Bursa:
Obtain financing to purchase real estate in Bursa from the Turkish banks:
Foreign citizens can obtain a real estate loan (mortgage) to purchase a property in Bursa that is completely ready or ready at a minimum of 80%.
To obtain financing for real estate purchases in Bursa from Turkish banks, you should meet the following conditions:
- Presenting a bank statement showing income for the last three months.
- Submit a real estate valuation report prepared by a bank expert.
- Payment installments are a minimum of 3 months to a maximum of 10 years.
- The age of the applicant for real estate financing in Bursa must not exceed 80 years.
- Furthermore, the construction completion percentage must not be less than 80% in order to obtain the mortgage.
- Besides, the bank makes insurance for accidents, death or emergency matters.
It is worth noting that the bank gives 70% of the property value as real estate financing. On the other hand, the interest rate on the amount is 4-7.5%.
Obtaining financing to purchase a property in Bursa from real estate development companies:
Foreigners can obtain it from real estate development companies according to some conditions that differ from one company. Moreover, the company may request an advance payment ranging between 30-50% of the total value of the property.
The procedures for obtaining financing for real estate purchases in Bursa from real estate development companies are easy after agreeing on the terms and time period.
Obtaining financing to purchase a property in Bursa through partnership:
It is possible to overcome the problem of supporting your investment project by obtaining financing for real estate purchases in Bursa through partnership. It requires you to find reliable partners and establish joint real estate projects.
This was the most important information about the best ways to get financing for real estate purchases in Bursa.
Edited by: Ebla Group Real Estate
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