All posts by : iltizam

* With recent changes to Turkey’s property ownership law, it has become easier for foreigners to own property. Questions have increased as to what the status of real estate in Turkey will be in the event of the death, exit or withdrawal of Turkish nationality from foreign nationals.

We will briefly and clearly clarify the most important points regarding the inheritance law for foreigners in Turkey.

Inheritance according to Turkish law

* In accordance with Article 20/2 of Law No. 5718, the provisions relating to inheritance, possession and division are subject to Turkish state law.
Also in article 20/1 of the Turkish Inheritance Act, inheritance is subject to national law, which means that Turkish law will be applied in relation to the property of the deceased in Turkey without regard to the nationality of the mother he holds.

In other words, the law of the country of nationality of the deceased person will not be applied, but the Turkish Inheritance Act will be applied with regard to his or her property in Turkey.

How do foreign national heirs enjoy their rights in Turkish inheritance law?

* After the death of a foreign person who owns real estate in Turkey and regardless of whether that person or his heirs are Turkish citizens or not, foreign nationals benefit from all legal rights relating to that property.
For this reason, it requires the extraction of the inheritance inventory document extracted from the Turkish courts in order to carry out the transfer of real estate in Turkey to the legal heirs.

This means that a legacy inventory document must be obtained from a Turkish court because the transfer of real estate in Turkey will not be carried out with a legacy inventory document issued by a foreign country, “i.e. the mother state of the deceased person.”

How to get a legacy inventory document in Turkey

* The legal heir of the deceased foreigner must translate the document of the inventory of inheritance or restrict souls into Turkish and ratify it from the notary and apply to the Magistrate’s Court in the area where the property is located to issue a document limiting a legacy used within Turkish territory and institutions. 
Because the issuance of the inheritance inventory document is an urgent procedure, this document will be secured by the court within a short period of time.
After obtaining the inheritance inventory document, the Directorate of Real Estate Records is approached and the transfer of the property register to the legal heirs is carried out with ease.

The papers that are briefly required are:

1. Translation of the inheritance accounting document issued by the foreign state and the certificate of death of the deceased person into Turkish and its ratification by the notary
2. Go to the Magistrate’s Court in the area where the property is located to issue a inheritance inventory document.
3. Go to the Directorate of Real Estate Records and you have a inheritance inventory document issued by the Turkish Court to carry out the transfer of property ownership

Who are the legal heirs to Turkish law?

1.  If the deceased has a husband and children who live regardless of their gender, are males or females entitled to 1/4 inheritance to the wife and 3/4 inheritance to the children.
2. If only children lived, the entire inheritance is divided equally between children regardless of their gender, male or female.
3. If there are no children of the deceased person, the inheritance is divided between the wife and the parents, in which case the half is entitled to 1/2 of the inheritance to the wife and the other half to the parents.

These are the inheritance rights in Turkish inheritance law, this case varies according to the relatives of the deceased living (children, mother, father, grandmother, grandfather, brothers and others) and if the deceased has no legal heirs and if he does not have a will liberated in accordance with Turkish law, the entire funds remain for the government treasury of the Turkish Republic.

In recent years, Turkey’s real estate sector has become one of the most developed real estate markets in the world, with Istanbul becoming more developed and real estate projects in it constantly expanding, and the development wheel in Turkey is moving very quickly and in strides. Fixed Wherever you wonder Istanbul or other Turkish cities, you will inevitably be impressed by the unique style of its buildings, which blends the history of the past with the evolution of the present with the combination of the beauty of nature that God has distinguished this wonderful country with.

What distinguishes Turkey?

• In Turkey the real estate market is racing its counterpart from the European and Arab markets, but it has become the best choice for investors and those wishing to settle in Turkey due to its characterization Turkey has a strategic location connecting the continents of the world, and for the amazing beauty of Istanbul and all of Turkey
  
  
  
• Turkey also distinguishes it from combining European cultural development while preserving the values and principles of Islamic religion and general customs.
• Turkey is the preferred destination for families looking for stability and raising their children in an advanced developed country while preserving the cultural or moral problems that some residents of Europe may experience

What are the reasons for the high value of real estate in Turkey?

The value of real estate investments in Turkey increases periodically for the following reasons:

• Turkish state permanently improves infrastructure.
•  Transformations and growth in general in the Turkish economy.
• Increase cash flows from real estate. Property in Turkey
• Impact of large demand in Turkish real estate market.
• Announcement of new renovations and benefits.

What are the reasons why the property may be decreased in Turkey?

What is meant here is the reasons that if they occur in any property in any country they may lead to a decrease in its value and we will mention the most prominent reasons in brief and clear points as follows:

• Forced sale of the property
• Lack of maintenance and ongoing renovations of the property
• Demand and supply conditions in the real estate market
• Change government’s real estate investment laws
• The reverse impact of deteriorating infrastructure and social services

What types of real estate investment in Turkey?

Real estate investment in Turkey is divided into two parts 

• Residential real estate investment real estate investment in Turkey
• Commercial real estate investment

What is residential real estate investment?

Is to invest in real estate that is used for residential purposes only.

What is commercial real estate investment?

Is to invest in properties that do not include housing by a family such as investment in (offices, shops, industrial properties, retail properties, hotels and student housing).)

A comparison between residential real estate investment and commercial real estate investment in terms of pros and cons?

1- The advantages and pros of commercial real estate investment in Turkey

• Monthly income and investment returns from real estate are relatively high.
• The owner of the property does not have to deal with expenses related to the repair and maintenance of the property or its development because often it is the tenant authorized to deal with the property in a way that suits his work and the purpose of renting it.
• Tenants have money well because they’re commercial, so you won’t have a problem paying them for rent on a regular basis.

Disadvantages and disadvantages of commercial real estate investment in Turkey

• The difficulty of finding tenants is sometimes a drawback of this type of real estate investment.
• Influenced by general economic conditions, which may sometimes make the investment property rent-free.
• It can also be a little difficult to sell property because the demand for commercial real estate as buying or owning is not as heavy as investing in residential real estate. 

2- Advantages of residential real estate investment in Turkey

• Easy to find a tenant.
• The place won’t be empty at any time, whether there are difficult economic conditions or not.
• Easy sale of residential properties, especially if they are in a privileged area.

Negative housing real estate investment in Turkey

• You will have to deal directly with tenants and find solutions to their problems yourself, but this problem has been solved with our company commitment real estate to establish the department of real estate management in Turkey
• You may have problems like not paying rent on a regular basis.
  
  
  

Where is the best place to own a property in Turkey?

According to the desire and need of each person varies the preferred place for investment, in terms of the beauty of nature picturesque most Turkish cities are touristy and have spectacular views par excellence, as some Turkish cities are characterized by some industries or agriculture and some cities are characterized by their views on the coast of a sea such as the Black Sea or the Mediterranean Sea.

Istanbul in particular is the preferred destination for most Arab investors because of its huge commercial and tourism activity, followed by owning a property in Antalya, Bursa or Yalova.

Real estate prices in Turkey?

The price of the property varies from location to location in Turkey, as there are several factors such as the area of the property, the date of its construction, its location and the public services nearby. Is the property still in construction or ready for housing? All these factors contribute to determining the price of the property.
If the property is still under construction, the price is slightly low, leaving a good profit margin in the future for those wishing to own a commercial real estate investment.

For us at  Iltizam Real Estate Company in Istanbul, our prices are divided into three sections by region as follows.:

1. Besiktas, Sisli, Atashehir.
   These areas, which are preferred by the elite of Turkish society and can be called the center of the city and are among the archaeological sites in Istanbul as well as overlooking the Bosphorus Strait and near the area of Fatih and Sultan Ahmed and Taksim area and Ayoub area and these areas are very crowded with buildings and there is rare land suitable for construction and thus the establishment of new projects in it is not available in a small percentage.
   Prices in this area start at $3,000, 000 to $6,000, 000 per meter..
2. BashakSehir, , Mahmoud Bey, Bahcelievler.
   These areas are preferred by the majority of Turks as well as preferred by foreigners who are considering investing in Istanbul because prices are medium and can be purchased in installments from private or government projects.
   Prices in this area start at $800 to $1,300..
3. Beylikdozu, Essenyurt, Arnavutkoy, Avcilar
   Real estate prices in these areas start at $400 to $700 per meter, noting that some properties overlooking the lakes scattered in this area are higher..

To consult and obtain investment real estate offers, you can contact one of our contact advisors or WhatsApp after clicking on the following number: 00905444333589

1. What are the reasons for the high value of real estate in Turkey?

The value of real estate investments in Turkey increases periodically for the following reasons:
Turkish state permanently improves infrastructure.
 Transformations and growth in general in the Turkish economy.
Increased cash flows from real estate.
Impact of large demand in Turkish real estate market.
Announcement of new renovations and benefits.

• What is residential real estate investment?

Residential real estate investment is investment in real estate used for residential purposes only.

• Where is the best place to own a property in Turkey?

Istanbul in particular, where it is considered the preferred destination of most Arab investors because of its huge commercial and tourism activity followed by investment in Antalya, Bursa or Yalova.

Turkey Real Estate | In recent times, turkey’s real estate market has been growing dramatically and the Turkish government has made several amendments to turkey’s foreign ownership law, attracting the attention of many foreign investors, especially Arabs.

In this article we will talk about some of the advantages and disadvantages of investing in a property under construction in Turkey

Non-ready investment projects or under construction in Turkey are an investment target for many investors, because of the high returns and profits that investors earn later but attention must be paid to the risks and disadvantages of this aspect of real estate investment To be able to know these defects and the ways of safety from them and how to get a successful opportunity to invest in real estate in Turkey, we will start by mentioning the disadvantages of this aspect. Real Estate Turkey Real Estate Investment

Defects in investing in a property still under construction:

• There may be some disruption to the construction company implementing the project, resulting in the project not being completed or delayed in delivery.
• If you buy a property in Turkey in installments, you may have some stumbles, resulting in you not being able to pay the rest of the installments.
• After the completion of the sale of the entire project may open many doors to speculation which may force investors to sell at a lower price than expected Turkey real estate

Features and tips to pay attention to when purchasing a property under construction:

• Be sure to buy the property at the beginning of the offers launched by the established company, as prices in the beginning are encouraging and distinctive, which provides a significant reduction in the first installment and in installments
• Make sure you pay as much as possible as you can as a down payment, to ensure reduced premiums, which reduces the likelihood that you will be unable to pay the rest of your dues later.
• Make sure that you agree with the construction company on the right installments for you and you can use one of the consultants of Iltizam Real Estate Consulting Company in Turkey to provide studies and offers that suit you and suit your estimated budget for real estate investment in Turkey
• Make sure that the location of the property is distinctive and close to public services and that the apartment is in modern designs and modern and with a good view, ensuring strength during the sale of the apartment later
• Be sure to deal with companies with confidence in the Turkish market
• Avoid speculating on prices that start immediately after delivery and don’t rush to sell your apartment, because the wheel of sale may lose you a lot of expected profits.
• After purchasing the property you can benefit from the after-sales services provided to you by Iltizam Real Estate Consulting Turkey Real Estate

Services provided to you by Iltizam Real Estate: Turkey Real Estate || Real estate investment

We at Iltizam Real Estate in Istanbul pay great attention to our valued customers in the study phase to choose the appropriate projects and then the stage of field tours and selection on the ground but the greatest interest in the post-purchase phase, which is a stage where we pay great attention where it is the stage where our valued customers will reap what has been built and targeted so we provide the service of managing real estate property such as follow-up and rental of residential apartments in which our customers want to invest in. As well as commercial and tourism projects and so on until we reach the degree of trust and commitment with our valued customers

To contact one of The Iltizam Real Estate Company’s consultants, you can call:
00905444333587
00905426792293

Turkey’s real estate market where is it headed?!

⊗In an interview with Al Arabi 21 with Professor AbdulMutallab Arba, head of the Islamic Economics Department at Istanbul University, the leader of several questions, including: 

Q: Where will we see the real estate sector in Turkey in the coming period?
Is he still attractive to foreign investment?
Or will he back down in the future?

Professor AbdulMutallab’s answer was as follows: 

A: The real estate sector in Turkey enjoys great attraction due to the relative and competitive advantages that always make it the leading country in the world attracting real estate investment, where this has been proven for years and continued in an upward curve that achieves profit and profitable investment returns for all members of this promising sector.

Turkey enjoys growing population growth annually, jumping from 1.3% to 1.6%, and continues to increase in average per capita income, which is driven by ambitions to acquire better housing. In terms of buying foreigners, let’s not forget the impact of Turkey’s unique position and resources on attracting investors.

We expect a jump in the real estate sector during and after the COV crisis, and it is enough to announce that real estate sales in January 2020 increased year-on-year by 56%, and the reduction in bank returns pushed accumulated and deferred demand to the completion stage of transactions .

Turkey returns to normal life

Thanks to the good and distinctive preventive measures taken by the Turkish government, Turkish President Recep Tayyip Erdogan announced a series of measures to restore normalcy in Turkey, after successfully curbing and controlling the spread of the CORONA virus

When to open flights to Turkey 

The Turkish Airlines administration has announced the date of the return of flights in Turkey internal and foreign, and indeed the internal air traffic between the cities of Turkey began on June 4 this month, as for foreign flights to and from Turkey, the Turkish Ministry of Health issued a circular announcing the easing of preventive measures, and the lifting of the restrictions imposed on the reception of medical tourism wishers from outside Turkey, This circular included allowing patients from 31 countries to travel to Turkey and these countries as follows: :

Iraq, Libya, Kuwait, Qatar, Bahrain, Oman, Algeria, Azerbaijan, Georgia, Turkmenistan, Uzbekistan, Kazakhstan, Greece, Ukraine, Russia, Djibouti, Kosovo, northern Macedonia, Albania, Bosnia-Herzegovina, Romania, Serbia, Bulgaria, Moldova, Somalia, Germany, England, Netherlands, Pakistan, Kyrgyzstan, Cyprus, Northern Cyprus, Turkish Cyprus.

As for the date of the full opening of the flight and the return of tourism activity, it is expected to be in the middle of this month 15 June.

There has been much talk in recent days about amendments to the Exceptional Turkish Citizenship Law and the mechanisms for obtaining them, which has raised concerns among many investors and entrepreneurs wishing to invest in Turkey or obtain Turkish citizenship.

By fact-finding, we can assure all those aspiring to reside or invest in Turkey that the new amendments are not concerned about them, but are in their interest and that of the Turkish state as well.

In 2018, the Turkish state introduced laws to obtain Turkish exceptional citizenship by purchasing a property worth more than US$400,000, but only on condition that the property was not sold three years before the date of purchase. She also acknowledged that exceptional Turkish citizenship could be obtained by depositing US$500,000 in a Turkish bank.

However, in the new amendments, the buyer, investor or person who will make the purchase or deposit must sell these amounts to the Central Bank of Turkey through one of the active banks in the country. This is a strategic decision as the state seeks through this decision to accumulate as much of the U.S. dollar as possible in the central bank and thus increase the monetary cover in banks of foreign currencies, which helps to improve the economy and raise the price of the Turkish lira against foreign currencies. The Turkish lira suffered a sharp collapse during the past period against the US dollar and other foreign currencies as a result of decisions to lower the interest rate in Turkey, which reached 14%, which made a lot of hot money leave the banks and citizens lost confidence in the local currency. These factors combined and caused the collapse of the Turkish lira.

The Turkish state and Turkish President Recep Tayyip Erdogan have tried to overcome these obstacles by developing a package of economic decisions that will help citizens restore confidence in the currency and put their savings from the US dollar and other foreign currencies as well as gold and silver in central banks. These decisions resulted in a unique situation in the economy that was admired by all economists worldwide, where the Turks pumped large amounts of foreign currency into banks, which made the value of the U.S. dollar against the Turkish lira fall from 18 lira per dollar to 10 lira per dollar in a day, which was a historic event in the history of the Turkish economy and even the world economy in general.

Going back to talking about Turkish citizenship, the Turkish state is one of the easiest countries in its citizenship procedures where Turkish citizenship can be obtained through some procedures, some of which may seem very simple, and we will mention four of these measures that may be easy for aspirants to obtain Turkish citizenship.

1- Buy a property worth US$400,000 and not sell it for three years.

2- Deposit 500,000 U.S. dollars in Turkish banks.

3- Establishing a company that employs more than 50 Turkish workers.

4- Working in the Turkish State by establishing a five-year employment.

Turkish citizenship is one of the strongest nationalities in the world, allowing its holder access to 110 countries around the world without the need for a visa.

When you acquire Turkish citizenship you can enjoy many of the advantages enjoyed by the Turkish citizen in the Turkish country and we will now mention some of these advantages

1- Enjoying the full rights of Turkish citizens such as free health insurance, free education in universities and running for election.

2- Ensuring Turkish citizenship for children under the age of 18 and wife.

3- Ease of the procedures of establishing companies, investing, reducing taxes and many other advantages.

Obtaining Turkish citizenship through real estate ownership is one of the easiest and surest ways in the period of confusion and is resorted to by many who want to settle or invest in Turkey, which is considered one of the best countries in living and stability in the recent period due to the low cost of living compared to the rest of the countries, especially the Arab countries, which made it a strategic choice for expatriates in the Gulf countries in particular.

Iltizam Real Estate is one of the most powerful real estate companies in Turkey in the field of real estate investment and has more than 500 projects in many provinces in Turkey. There are many models suitable for all tastes where you can choose the best property for you and your family. We have a large number of experienced real estate consultants in the Turkish real estate market for seven years where the advisory team responds to all your inquiries and nominates the property that is best suited to you and your family through the information you provide them.

Iltizam Real Estate guarantees you the best service in the field of real estate in Turkey

It is one of the provinces of Turkey where it is located in the Black Sea region and has ancient Greek ruins, it is one of the cities of northern Anatolia.

The city of Duzce enjoys its strategic location, located between the capital Ankara and Istanbul.

Located in northwestern Turkey, Duzce is about 215 km from Istanbul..

The city of Duzce is characterized by its unspeakable beauty, the greenery of its plains, waterfalls and mountains covered with diverse green trees, rare plants, its mild climate and the nature of its beaches with distinctive beaches made it a tourist destination worth visiting, so the city of Duzce is named after the city of “Waterfalls and Lakes””

The city of Dozge consists of seven villages: Gomiari- Chlemli, Akchakoga, Yekelga, Gomoshova, Qalaka and Kainashali.

The city has many natural attractions from green plains such as Tobok Plain and Burenley.

And many waterfalls such as Aidan Pinar, Samandra, and Quzal Dra, which rises about 630 meters above sea level.

Duzce is one of the fastest growing destinations for rubber boat rowing in the world, adventure and water mathematics on the slopes of the Melan River..

Top attractions in the Turkish city of Duzce

Quzal Dra Waterfall

This waterfall is characterized by the beauty of its waters descending from the high mountains, where tourists and many lovers of adventures and mountain ascent, and ends this waterfall at the last point, the top of the mountain, where there are huts, restaurants and markets..

Eden Pinar Falls

Aidan Pinar Falls is 10 km from Duzce city center.

These waterfalls feature famous restaurants, especially in fish cooking..

Eden Pinar Falls is calm, wonderful and natural..

Milan River

A very suitable area for camping and rubber boat rowing, which is the best for water sports enthusiasts.

Vakeli Cave

It is about 30 km from The City of Duzce, located in the town of Akchakoga, and is 1017 meters long..

The Vakili Cave is a very important tourist kiss for tourists, especially historians and researchers, as it contains archaeological and historical inscriptions adorning the cave..

Jennifer Beach and Castle

About 40 km from Duzce, It is located in Akshakoga.

It is one of the most suitable places to camp out and do barbecues because of the beauty of its water.

Jennifer Castle is characterized by its Ottoman-era heritage and huge walls..

All of this has enhanced the status and importance of Duzce, as it is ranked one of the best tourist trips in Turkey.

Visa

It is highly recommended to review Turkey’s visa information before visiting foreigners who wish to visit, whatever the reason for the visit. Tourist and commercial visa procedures may differ from work and study visa procedures in any country, and Turkish visa policies also vary from country to country according to inter-country agreements.

Some visa applicants may be exempted if the reason for the visit is tourist or commercial or they can obtain an e-visa, but other applicants who want a work visa or study visa must apply through the Turkish Embassy in their country.

Passport duration

Foreigners wishing to enter Turkey must have a visa, visa exemption or residence granted to them with a passport or documents proving that the passport is valid for at least 60 days

Housing in Turkey

Many universities in Turkey offer campus accommodation to all international students who wish to stay on campus or in state-owned housing, and some students prefer to live in private outdoor accommodation.

The price of meals is not generally added in fees, but there are restaurants where students can eat breakfast and other meals at a relatively low nominal cost of “all fees in Turkish lira” regardless of their nationality.

All foreign students must pay the same amount as Turkish students, in addition to the fact that most Turkish dwellings are separated male and female.

Health

All foreign students receiving their education in Turkey can benefit from public health insurance coverage in Turkey. All government hospitals are used at no charge and can also use private hospitals by paying moderate fees. To take advantage of Turkey’s public health insurance system, you can go to your university’s foreign student office for more information.

Students can go to the Social Security Foundation to apply and when you complete your application, you will pay your public health insurance fees, which are determined on an annual basis within one month of the date of your Social Security records.

If you do not apply for a public health insurance system within the “3 months” time period, you cannot benefit from the state’s public health insurance services. But if students have international health insurance they can use it or can benefit from private health insurance in Turkey. Some universities may also offer a special health insurance policy to their foreign students.

Please also bear in mind that Turkey is known for providing high quality health services at low cost for this reason, many patients from neighbour countries as well as from developed Western countries prefer to come to Turkey for cheaper health treatments for surgery, dental and eye examinations.

Students can benefit from their health insurance in Turkey, and in order not to face any problems we recommend students to conduct regular medical examinations

Climate and temperature in Turkey

Turkey is home to the oldest civilizations in the world and many societies to turkey’s greatest empires and is the cradle of cultures and civilizations connecting Europe and Asia. It is also the capital of civilizations that have ruled Anatolia for centuries.

The climate and weather in Turkey along the Black Sea coast is continental, in Turkey humidity levels can be very high. During winter, especially in December and January, the weather is very cold as temperatures can drop below zero. Weather in Turkey’s capital, Ankara, as well as central Anatolia, cold in winter and dry hot during summer

Turkish currency

The currency is the Turkish lira “TL” can be found ATMs even in the smallest towns of Turkey, most ATMs are accepted with international credit cards or bank cards “usually the brand bar is displayed above the ATM” almost all ATMs have a language key to enable you to read instructions in English or Arabic most businesses accept international credit cards such as Visa and Master Card and American Express.

Turkey Bridge of the World

You have many reasons to come to Turkey because each place has its own spiritual and geographical features that attract a lot of people from all over the world, for example Istanbul is the only city in the world that connects the continents Asia and Europe it is a city located in both Asia and Europe, the capital of many civilizations for thousands of years throughout its history Turkey is more than just a bridge between two continents. In fact, Turkey is a country where East and West meet on a large scale. Turkey has succeeded in blending these two cultures as home to cultural and historical heritage for thousands of years.

Cost of living and study in Turkey

Study and living abroad are another factor to consider as you decide to study abroad. According to Mercer’s global cost of living rankings, Turkey’s major cities are at the bottom of the list of the most expensive cities in the world.

Turkey is the door to the job of your dreams

One of the key questions you’ll ask yourself after graduation is what happens next? Foreign students who graduate from Turkish universities have a lot of options, for example students can choose to continue their education by obtaining a master’s degree and then returning home with a widely accepted certificate that will make it easier for them to find a job either inside or outside Turkey. In addition, foreign students can work part-time on campus while teaching

Turkey is moving towards being one of the world’s leading economies through its developing and developed economy. The number of international brands operating in Turkey with Turkish brands is increasing. The number of international companies operating in Turkey reached 34,000, 50% of these companies from EU countries since Turkey is a favorite country of foreign investors, you can also get the opportunity to work in one of these international companies

Quality of education in Turkey

In the past 10 years, Turkey’s higher education system has developed significantly in terms of quality and quantity and Turkish universities now offer a wide range of options for foreign students and this quality is reflected in the international classification list system according to Times of higher education BRICS and emerging economies.

In addition, 9 Turkish universities have been placed in the top 800 by Quacquarelli Symonds in the UK. English, these programs include medicine, engineering, humanities, business and finance all students can continue their education in other countries through the ECTS system (European balance transfer system) and they can obtain their certificates recognized by other countries

Turkish language

In Turkey, the most common languages used in higher education institutions are: Turkish, English and Arabic there are also some higher education institutions where the language of teaching is German or French but if you apply for an academic program taught in Turkish, you are expected to learn Turkish. Turkish is one of the most popular languages in the world, for foreign students who want to improve their Turkish language, of course Turkey is the best place to do so.