How can foreigners buy real estate in Bursa?
How can foreigners buy real estate in Bursa? Bursa has become one of the preferred destinations for foreign investors to establish their various investment projects and manage their businesses. Therefore, in this article from Ebla Real Estate, we will answer this question “How can foreigners buy real estate in Bursa?”.
Real estate ownership law in Türkiye for foreigners:
- The principle of reciprocity with regard to foreign ownership of real estate in Turkey has been abolished. Thus, foreigners have the right to own any type of real estate within the borders of the Turkish Republic except for five nationalities (including the Syrian nationality).
- The area of real estate in Turkey that a foreigner owns should not exceed 30 hectares.
- Real estate in Turkey that foreigners own must not exceed an area of 10% of the total area of the administrative region.
- The foreigner should obtain the security and military approval from the competent military authorities in the area in which the property is located.
- The possibility of obtaining Turkish citizenship in exchange for a real estate investment of $400,000.
- The possibility of obtaining residency in exchange for buying a property in Bursa worth $75.000.
How can foreigners buy real estate in Bursa?
Determine the purpose of buying a property in Bursa:
Determining the purpose of buying a property is the first step to reach your goal. Thus, when you want to purchase a property, you should know what type of property you are looking for to get one at a reasonable price.
Determine your budget:
You must accurately determine your budget. You should also look for the right options for you within your budget.
Deal with real estate companies:
You can contact real estate companies in Bursa to buy the right property. They can provide many options available and suitable for your needs.
Real estate tour:
You should see different areas of Bursa with an experienced real estate broker in the city. He can provide information about the areas and properties available in each area. He also helps you choose the property that suits you best.
Make sure of details and terms:
When you find the perfect property, you must ensure that you understand all terms and requirements before signing any contracts.
Study offers and choose the most suitable:
After communicating with an approved real estate company and doing multiple real estate tours, you should study these real estate projects to choose the perfect property. This is how can foreigners buy real estate in Bursa.
Procedures for transferring property ownership in Bursa for foreigners:
How can foreigners buy real estate in Bursa? The buyer of the property must come to Bursa to conclude the purchase contract transaction, or to appoint a trusted person to act on his behalf, through an official agency from the consulate of the country of origin, or the Turkish embassy located there.
After having gathered all the necessary documents for the application of the title deed which are:
- Buyer’s Tax Number (Vergi Numarası)
- Original and copy of the foreign buyer’s passport (a translated copy is also required).
- Appraisal report.
- Seller’s ID card or Passport.
- Rayic document.
- Earthquake insurance policy.
- Receipts for transferring the value of the property in Turkish lira from the buyer’s account to the seller’s account.
You have to submit them to the Land Registry and Cadastre Office. Then, an appointment will be given to you by this same office for the final signatures.
Then both parties sign the title deed conveyance agreement, and finally, the officer of the Land Registry and Cadastre Office gives the printed version of the title deed to the buyer.
The importance buying real estate in Bursa for foreigners:
- Bursa is among the most livable cities according to the world rankings because of its clean environment and mild weather.
- Moreover, Bursa city is characterized by safety and security.
- Each part of Bursa has natural or archaeological landmarks. In addition, Bursa is rich in historical heritage and green spaces. Therefore, Bursa real estate has strategic and typical locations and all apartments have wonderful views.
- The abundance of job opportunities in Bursa. That is because of the strong economy, advanced infrastructure and booming investment.
- The low cost of living in Bursa compared to major cities in Turkey.
- Furthermore, the real estate market in Bursa is one of the best real estate markets in Turkey.
- Bursa city includes many urban expansion projects built to excellent standards.
- Bursa also includes contemporary projects with the latest equipment and the best services.
Thus, we talked about how can foreigners buy real estate in Bursa. It is worth noting that Ebla Real Estate Company provides all services to the valued clients. Moreover, we offer our customers the best offers and the most suitable opportunities in the most Prestigious areas of Bursa.
Edited by: Ebla Group Real Estate
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