Buying a House in Turkey

@d4zt7bsj To buy a second house in Turkey with a mortgage, a no go, just bring your money, but do not do stupid things,

@Maksym Yavorskyi hii i dont think is good idea sharing my phone number here

I think you need a permanent resident permit for a mortgage. The best is to ask several local banks. However, you won't get passport if you buy with a mortgage. 🤷‍♀️

@evelinfree25 PM the number to me please

There are no mortgages in Turkey for foreigners. Even Turkish citizens struggle to get a mortgage/loan these days. Foreigners looking to buy a resale property (second hand) should pay in cash (via bank transfer). Those wanting to buy a new propperty from developers are usually given an installment option where between 30-50% down payment is made and the rest is paid over 12 to 24 months (depending on the construction stage).

@Istanbul2023 that is not correct. Mortgages are not available to foreigners. And in case of citizenship, there are several ways through developers, including installment options. I have been in this sector for 7 years and have closed citizenship deals.

@Maksym Yavorskyi Congratulations on your success, but honestly Turkey needs people who have cash, not mortgages, foreigners should spend cash to the economy.

@cdw057 well, not everyone has got $400,000 to splash out on a 1+1 apartment in istanbul. A 1+1 apartment is simply 1 living room and  1 bedroom. This is ow much it will cost you in a decent residential complex in a sought after location. There are many other pros and cons, like in every country, but in my strong opinion everyone should be given a chance to get on the property ladder, and without different payment options it is very difficult

@Maksym Yavorskyi Thanks for your reply, please do not get me wrong, I love Turkey so far, but with limited budget, you have a limited life. I have posted some items on budget and for REAL comfortable life EUR 3.000 is needed (and that is without rent). But with alcohol, smoking and restaurants (and good health insurance for elderly people (like me and to a certain extent to my wife)

We own, so that is fine and we got our Ikamet (which people should really consider (we know a few Russians who want to go to Thailand (which for me is in a way a good thing and Turkey wants to get closer to the EU))

What I hear even Ukraine people are being challenged (but not rejected so far).

Interesting posts from you would be good, just a few suggestions

-What is life for local people, how they spend their money, how can they survive?

-Interesting article I read to NOT to got to restaurants this weekend (high prices and smaller portions)

-An article on too low Aidat would be interesting (I would be intesrested why (foreign) people do not want to maintain their property to high standards)

-Income (I have none by the way) and capital gain taxes

-Deficits in budget and how to deal with this (I live in Alanya/Mahmutlar)

-A personal topic, I seem not been allowed to purchase 300 packages of Marlboro (too much??), I smoke 3 packages per day and I would like to be covered for 3 months (alcohol seems to be fine, but it just not fit)

-A regular update on minimum prices (public transport, cigarettes, ...) would also be useful.

-Many other topics and I can give suggestions

@cdw057 Hi there! Yes, Turkey can be a good place to live if you own your home. A budget of 3,000 Euro is a bit high (well, depending on how many people there are in your family).

You have mentioned that you live in Mahmutlar, it is a nice place to live but it is a touristic area, so everything is overpriced. It is always advised to shop where locals do, i.e local markets, butchers, etc...

Cigarettes have gone up in price tremendously, that is right. You can probably buy your cigarettes from different places if they do not want to sell 300 packs in one. Or, there are 'smokers centers'. Some people have switched to roll ups, as in tobacco.

When it comes to aidat, not every property management company provides adequate services, and in many cases monthly charges are put in place off the top of their heads. I personally pay 1,800 TL per month for a studio apartment within a complex with 2 swimming pools, a gym, hamam and security.

Overall, it all depends on your lifestyle. For me personally, I like to cook, and to be honest I am not that fond of Turkish cuisine. It lacks spices and taste (personal opinion). Sometimes eating out for a change can be good. Alchohol is ridiculously priced here but again, I prefer to have a drink at home (sometimes I will go to a pub depending on my mood).

With residence permits it is a continuous gamble, however, my residence is based on real estate ownership. Ukrainian citizens can get humanitarian residence permits (because of the war).

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Where can I find a list of cities restricted to foreigners buying homes?

Thank you!

@GlobeTrotter427

Seems like the list may be dated or there may not be any additional restrictions.  This website directs you to the official Turkish website listing the restricted neighborhoods.

BTW, most visitors do get enthralled with Turkey when they visit.  I've got two college buddies who visited as well as some of my wife's friends who loved their visit and intend to go back. 

Best regards 😁

@Gino_C Thank you!