Common questions

Alamany Group

Alamany real estate group is a leading Turkish Company known by a creative structure specializing in the fields of consultations, Developed investments, and real estate marketing.

Alamany real estate company was established in 2018.

The main headquarter of Alamany company is located in the center of Istanbul – Bagcilar.

Alamany company for real estate provides the latest projects and investment opportunities, Along with many reports and studies related to the news of the real estate market in Turkey in the purpose of helping you make the right decision to invest and own your dream property.

            What is more, we accompany you through all steps of the property purchase process, where we assist you and provide you as well with the needed, right, and appropriate consultancy, starting with looking for the right property for you until negotiating to get the best price for it, so as to make the purchase decision. Then, carrying out the registration as well as the ownership transfer procedures.

             Alamany company for real estate is more than just a real estate broker. Moreover, we offer a complete blueprint for purchasing real estate. Besides, our professional staff will assist you, provide ideal services, guide you through the purchase process, explaining the legal and administrative aspects of buying real estate in Turkey, as well as matters related to the rent of your property.

             Further, we have experts in all fields of real estate to guide you from the beginning to the end of your real estate journey with us.

  • Providing the required real estate consultation, Along with the right legal consultancy before purchasing.
  • Providing analysis studies for the real estate market in Turkey.
  • Extracting the tax number.
  • Opening a bank account in a Turkish bank.
  • Negotiating in order to get the best prices.
  • Reviewing and auditing the purchase contracts before signing.
  • Following up with you on monthly payments of installments.
  • Assistance in furnishing the property.
  • Extracting the title deed, Along with Obtaining gas, water and electricity licences.
  • Following up with you every step until the delivery of the property.

Alamany real estate group provides many services to meet all the needs of its customers from all over the world :

  • Real estate consultancy in Turkey
  • Real estate marketing in Turkey 
  • Real estate development and news in Turkey 
  • Real estate valuation in Turkey 
  • Management of real estate properties in Turkey
  • Reception from the airport and field tours of projects

Real estate investment in Turkey

  • Being, politically and socially, one of the most safe countries in the world.
  • Providing laws that guarantee and respect all foreigners’s rights, who are planing to live in Turkey as well as acquiring permanent residence in case they would own real estate property in Turkey.
  • A thriving economy: The gross domestic product has more tripled, reach 857 billion USD in 2016 after it reached 231 billion USD only in 2002 ‘’ Turk sat ‘’.
  • Stable economic growth through an annual rate of real GDP growth averaging 5.6% between 2002 and 2016, ‘’ Turkish Statistical institute ‘’.
  • A promising economy with a bright future, as it is expected to become one of the fastest growing economies among the members of the organization for economic cooperation and development ( OECD ) during the period from 2017-2020.
  • The thirteenth largest economy in the world and the fifth largest economy in the European Union in 2016.
  • The economy is mostly based on entreprises, Along with being supported by 145 $ billion from foreign direct investment, in the last ten years.
  • A vibrant and advanced private sector, with exports reached about more than 143 billion USD. In addition to being known by an increase of 300% between 2002 and 2016, “ Turkish Statistics Institute “ .
  • Real estate prices in Turkey are constantly rising thanks to the increase of the foreign demand.
  • Turkey is among the largest global markets concerning the growth of real estate prices, according to the “ Knight Frank “ international index.
  • Turkey is ranked the second among the most attractive real estate markets, according to “ Ernst & Young “.
  1.  Buying and displaying a property for rent : buying and renting a property result in guaranteeing a fixed monthly income. So, the average value of profit from rent is equivalent to 4% per annum of the property price.
  2. Buying and reselling the property : buying a property in a project under construction in one of the vital areas near by the means of transportation, which increases the price of the property and facilitates the fact of reselling it.
  3. Land purchase : the purchase of lands in strategic locations that may be included in the city organizational plans.
  4. Real estate development : by purchasing a land in a strategic location as well as developing a distinctive real estate project with integrated services that guarantee a high profit return.
  5. Urban transformation projects : by developing old buildings, that are prone to falling and not resisting earthquakes, into urban buildings that are resistant to earthquakes and natural disasters, while providing a large area for the con straction company in order to cover the project costs and achieve a distinct profit margin.

Indeed, the urban transformation law has been enacted in Turkey in order to develop all old buildings, that are prone to falling as well as not resisting earthquakes, into civilized buildings that are resistant to earthquakes and natural disasters such as torrents and floods, Along with taking into account the preservation of public services and the improvement of environmental conditions surrounding residential buildings. Besides, the Turkish government aims to develop approximately 15 million properties under the urban transformation law, with a budget of more than 400 billion USD.

           Moreover, the Turkish government encourages investors and real estate development companies to complete this huge project by providing many facilities, the most important of which is exempting construction companies from taxes, from the beginning of the project to its end.

           What is more, the law aims to develop the property with the agreement of the owners for a specific period of time with the same specifications and old space while keeping a large building area for the construction company in order to cover the project costs and achieve a distinct profit margin.

  1. Determine the building to be renovated.
  2. The construction company makes a specific offer to the property owner that includes the agreement on new spaces, finishing specifications, public services and facilities such as elevator, parking, guarding, security and gardens.
  3. The agreement is required to be signed between the construction company and all owners without exception.
  4. The construction company undertakes to pay rent to the owners of the property during the project period in order to find temporary housing until the completion of the project, which is from 18 to 24 months, depending on the size of the project as well as the costs of transporting the property owners to and from the property to be renovated.
  5. The state contributes 800 Turkish liras per month in exchange for rent and 1200 liras in exchange for a transfer for each real estate unit.
  6.  Registration of contracts in the real estate registry.
  7. Obtaining building permits, which are often larger areas than the previous area of the property, so that the company covers from these areas the construction costs and achieves the target profit margin, which ranges from 40% to 60%.
  8. Evacuation of the property within 3 to 4 weeks.
  9. The demolition process begins.
  10. Rebuild.
  11. Finishing and handing over of housing units to their owners.

Real estate ownership in turkey

Yes, foreign citizens have the right to own property inside the Turkish territory. Therefore, the Turkish Parliament issued a law granting the right to own real estate on any land of the Turkish Republic, canceling the principle of reciprocity, except for holders of passports from countries : Armenia-Cuba-North Korea-Nigeria.

             Law number 35 of the land registration law number 2644 and amended by law number 6302, which allows foreigners to own property in Turkey, which allows foreigners to own property in Turkey.

Yes, the Syrian has the right to own  property in Turkey, But in this case, he or she must own a company registered in his name in Turkey.

In fact, foreigners are allowed to own a maximum of 30 hectares, which equivalent to 300 thousand square meters in Turkey.

              Further, foreigners are not entitled to own or rent property within a range of 400 meters from all military barracks of the Turkish army and strategic and security sites such as airports, sea ports, oil and energy stations, and other cultural as well as religious center of the Turkish state.

              Furthermore, foreigner can buy real estate in a region or town with a maximum of 10% of the total land in this area or town.

 Foreigners have the right to own all types of real estate in Turkey : “ residential – commercial – lands – farms – factories – schools … etc ”.

  1. Choosing the right property.
  2. Ensure the following information :
  • The title deed “ Tabu “.
  • Site statement : A photo of the property’s location in the municipality’s plan.
  • Property number according to the municipality plan.
  • Making sure that there are no restrictions that hinder the sale of the property, such as mortgages or inheritance issues.
  1. Extracting the tax number.
  2. Translating  the passport into the Turkish language by a certified translator registered through the Translators Syndicate, along with its attestation by the notary.
  3. A contract of “ commitment of sale agreement “ is a preliminary sale contract  certified by a notary between the seller and the buyer in both languages, English and Turkish.
  4. Review the real estate registry “ Land Registry Department “ within 15 days of the approval being issued with the seller. Therefore, it is preferable to have a certified translator translator to ensure the correctness of the data, the property number and its area.  

Yes, your company can own real estate in Turkey.

The property purchase procedures can be completed within one to two days as a maximum.

  1. The title deed of the real estate property.
  2. A “ document indicating the value of the property “ obtained from the relevant municipality.
  3. A recent personal picture, size 4 x 6 cm, it must not be old more than 6 months.
  4. A copy of the project building permit and its registration document in the municipality.
  5. Copies of all the company’s documents, such as : the company’s establishment license, a copy of the commercial registration.
  6. Real estate insurance certificate against earthquakes.
  1. Obtaining a tax number.
  2. Passport translated to Turkish by a sworn certified by  the notary.
  3. Two recent personal photos size 4 x 6 cm, that must be ols more than 6 months.

Yes, according to the Turkish law related to foreign ownership, more than on person without any family relationship has the right to own the same property, and the title of the property is registered in the name of each person.

This term refers to the owner’s absolute rights to the property, which means that he or she can inert, trade or lease it whenever he or she wishes.

When buying a property in Turkey, this includes ownership of the land. What is more, the ownership of the property is automatically inherited from the foreigner to the husband or wife or children.

In fact, the title deed “ Tabu “ ia a legal document, which proves that you have ownership rights over your property in Turkey. All official title deeds are registered in the real estate registry office.

The procedures for obtaining the title deed can take from 4 to 6 weeks after purchasing the property.

Legal procedures

  • First of all, obtaining the tax number ( Vergi No ). In fact, it is a number given to every tourist or foreigner residing in Turkey in order to facilitate all his or her official transactions.
  • Second, Translating the passport and then certifying it by the notary.
  • Third Opening a bank account for the buyer in a Turkish bank to transfer the value of the property.
  • Fourth, providing 2 personal photos.
  • Fifth, signing the contract.
  • Sixth, in case of buying directly from the developer company of the project, the contract is signed between the buyer and the construction company that owns the project, along with that usually the contract is in English and Turkish, In addition to the presence of the lawyer of “ Prestige Istanbul for real estate ” to ensure the integrity of the contracts. 
  • Seventh, in case of purchasing from the owner of the house, a sales contract is signed between the buyer and owner, the contract is registred in the real estate registry as well as the procedures for transferring the title deed begin.
  • Eighth, in case that the buyer is the first foreign person who is buying the project, a military approval must be obtained for allowing foreigners to own ownership in that area, and it takes about one to two months so as to extract it, and the ownership transfer process is only after obtaining the approval.
  • Dealing with legally licensed intermediary real estate companies.
  • Choose companies with good reputation and credibility.
  • Not dealing with people without legal reference.
  • Visiting the project site in person as well as inspecting it on the ground.
  • Not to conclude any purchase contracts before examining the project on the ground, to verify the developer company and the project site, In addition to the the fact that to review the sales contracts.

Yes, by delegating a legal agency through the Turkish embassy or consulate in your home country, or through a public notary if you are in Turkey.

  • The lawyer will check the property purchase contract, which is in Turkish and English in general.
  • Through hiring a lawyer, he will be able to check your papers and sign them in case you may be absence to speed up the transactions and shorten the time.
  • The lawyer makes sure that the real estate seller has reviewed the relevant departments to obtain the military approval that is required from foreigners when buying real estate in Turkey.
  • When buying and completing the sale, the lawyers the trusted third person that preserves the rights of both seller and buyer.
  • The lawyer will take all necessary procedures that accompany the delivery of the property.
  • The lawyer you hire reviews all the responsible official authorities and resolves all problems related to your property, if they occur.
  • Granting a power of attorney for a lawyer relieves you of the burden of frequent travel for the purpose of finalizing the transactions related to the fact of buying and selling process.

Taxes and fees

The tax number is your own number that is sometimes asked for in legal and official transactions or to open a bank account in Turkey. Besides, this number can be obtained regardless of whether you have an official residence in Turkey or not.

So, it is obtained through ;

  • First, bringing a copy of the passport and your residence address information in Turkey. 
  • Go to the nearest tax department and  request this number.
  • The employee will provide you with a card that contains your tax number on it.

Mainly, real estate and land prices in Turkey vary to suit all budgets, but in general, real estate prices in istanbul are higher than other Turkish cities, of course, there are several factors that play a role in determining prices, for example; the building  age, region, area, its proximity to the means of transportation, and many more other factors.

Edditionaly, real estate prices vary according to the region in which you want to buy a property, however, there is no minimum or maximum prices requirement.

 

         Are government’s taxes equal for Turks and foreigners ?

         Yes, definitely, the tax system is the same for both. Consequently, it is paid by theTurkish as well as the foreign alike, without any discrimination.

So, the value of the property registration and transfer tax is 4% of the property price, which is only paid once by the buyer after completing the purchase process. Further, it is paid to the Turkish state in the real estate month.

Moreover, in case that the purchase is in a project under construction, this tax shall be paid after the completion and the delivery of the project as well.

Yes, there are limited annual taxes on residential real estate reach about 0.002% of the property’s value.

In fact, the buyer and the seller pay 3% of the property’s value to the broker.

The annual tax for renting the property is 15% of annual rent.

Capital gains tax is only paid for selling the property during the first 5 years from the date of purchase. Along with this, it is calculated at 35% of the difference between the current value of the property and its value when it was sold the first time.

Besides, if any property is sold after 5 years from the date of its purchase, tax exemption is obtained by law as well as it becomes on the seller.

It is a monthly fee paid to the management of the complex or real estate in exchange for cleaning, maintenance and guarding services. In addition to, the use of the complex’s facilities such as swimming pools, gyms, saunas, etc.

It worth approximately 3-4 liras per square meter of the property’s area.

Yes, there are  many local and international insurance companies.

Insurance against earthquakes and natural disasters, known as ‘’DASK’’, is a mandatory insurance and a legal condition that must be performed. What is more, insurance is made on the property after registering it and obtaining the title deed. Indeed, it is renewed annually and its value depends on the value of the property.

Yes, it is related to water, electricity, and gas subscription, and it is paid only once after receiving the property.

In addition to the monthly expenses related to electricity, gas, water, and internet bills, that concern the personal use.

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