How to obtain financing to purchase a property in Bursa

Purchasing real estate in Bursa, Turkey, can be a significant investment, requiring careful financial planning and access to adequate funding. Whether you’re buying a home, an investment property, or commercial real estate, understanding the process of obtaining financing is essential. In this article from Ebla Real Estate, we will talk about how to obtain financing to purchase a property in Bursa.

Table of Contents

Obtain financing to purchase a property in Bursa from Turkish banks:

Foreign citizens can obtain a real estate loan (mortgage) or real estate financing to buy a property in Bursa that is completely ready or ready at a minimum of 80%.

To obtain financing to buy a property 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 financing to purchase a property in Bursa 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 to buy a property 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 to buy a property in Bursa through partnership. It requires you to find reliable partners and establish joint real estate projects.