Turkey Real Estate: Fethiye Buyer Guide

Turkey Real Estate: Fethiye Buyer Guide

Fethiye is a popular destination for tourists in Turkey and has numerous top-rated beaches in the region. Every year, Fethiye welcomes more than four million visitors from all over the world. Fethiye people are friendly and hospitable to foreigners as it has been well-known as a vacation spot for many years. I bet you have been wondering about real estate in Turkey and if you should invest. You came to the right place. As a first step, you can read this post about why you invest in property in Turkey.

Why Invest In Property In Turkey

I have been reading a lot of articles about investing in Turkey, and I’ve learned that there are lots of reasons why you should invest in real estate in Fethiye:

• You can get good returns without taking risks; therefore, there is no need to pay high commission fees. You will be safe and secure with a local agent who knows the real estate market very well.
• The country has experienced economic growth over the last decades, which means developers have been able to develop their properties at a faster pace. The demand for properties, especially villas and apartments, is rising, which means prices are increasing every year.
• Turkey is one of the fastest-growing economies in the world.
• A booming tourism industry. The ever-increasing number of tourists increases the demand for real estate, which drives prices up every year.

Who Can Buy Property In Fethiye

Citizens of Turkey can purchase properties in Fethiye. Foreigners can also buy properties in Fethiye. You will be required to pay a commission fee to your agent when you buy real estate in Turkey.

But there is no need for you to do it alone; you can hire a local agent who is well informed about the market and has many years of experience in the real estate business. This will take off the pressure from your shoulders; the agent will guide you step by step. If you decide to go on this path, inquire about the fees before choosing an agent.

Fethiye Property Costs

If you are thinking about investing in real estate in Turkey, you should know the costs and what to expect. You can buy a one-bedroom villa in Fethiye for 80-100 thousand dollars. If you are looking larger property for sale in Fethiye, the price can be much higher. In urban areas, the prices of apartments and apartments can be as high as $1,300 per square meter. Villas with an area of ​​less than 100 meters cost between $100,000 – 150,000 depending on the location and services like beach access or balconies and whether it is new or old.

Proven Steps To Buy Property In Fethiye

The following steps will guide you to buying a property in Fethiye. The process of buying a property can be divided into the following steps:

• Find A Property You Want

You can find out which properties are available in your price range by visiting real estate agencies and offices. A real estate agent or office will meet you there in person or invite you to visit their office to get a list of their properties.

Before searching for a property, make sure that your money is ready because the real estate agency will need it as a down payment to start the process of drawing up an investment contract. Make sure that it is not just the monthly payment you have to think about, but everything from taxes and service charges to property management and so on.

• Choose Real Estate Agency To Draw Up A Contract And Negotiate Purchase Conditions

Choosing real estate agencies to draw up contracts and negotiate purchase conditions is a long process. As you approach an agency, be sure to do your research on it beforehand because it is possible that they might not be trustworthy or misrepresent their job as an agent.

• Make Security And Property Location Checks

Most of the time, the property’s location is not specified, and all you can do is rely on the description of the property and pictures. Keep in mind that it is easy to take photos of beautiful places and make them look exactly like what you want when the reality is truly different. Therefore, if possible, visit a place at least twice before purchasing it to ensure no unpleasant surprises.

• Pay Taxes And Charges

You have to pay lots of things to purchase a property. To name a few, you have to pay transfer taxes and deed taxes, and this is not something that the real estate agent can do for you. Also, you need to pay local taxes when you receive your TAPU because, by law, the municipal council has the right to charge tax on buying or selling a property.

• Receive Your TAPU And Register Your Property

The moment you receive your TAPU – a title deed, it is now time to register your property. If you are buying in a new location, you will have to register it with the local council. Any further actions will have to be registered with the Land Registry Office, which is also the ultimate authority on all land-related matters.

Registration of ownership is mandatory under Turkish law, and failure to do so may result in difficulties in any future sale of your property and may even lead to criminal proceedings if it has been used for illegal purposes.

The Bottom Line

You will probably be asking yourself if it is worth it to buy property in Turkey or not. The answer is yes. There are hundreds of places where you can go and buy a property with the right information and knowing what you want. Real estate agencies in Fethiye will help you, and as I said, they are well-known for their services here.

Guest Article.