Monday, November 21, 2022

Real Estate Market in Turkey


Foreigners started to increase their housing purchases in Turkey. In January-June 2022, foreigners bought 35 thousand
of houses in Turkey. This means more than 70% compared to the period of last year. The reasons for increased demand are due to various reasons, such as the military operation in Ukraine, the fluctuations in the Turkish lira, and the ability to obtain Turkish citizenship in the purchase of real estate. Turkey's most popular regions to buy housing are Istanbul, Antalya, and Ankara. While Istanbul meets almost half of this demand, Antalya comes right after it.

 

Why Foreigners Prefer Antalya

The warm climate of the Mediterranean region, the fact that life in Antalya is cheaper than in Istanbul, that it offers a pleasant life, and that there are many profitable options in terms of housing investment make Antalya among the most popular choices.

Real Estate Market in Alanya

The real estate market in Alanya has formed not so long ago, so most of the offers here are modern residential complexes or houses. The most popular purchases in Turkey are 1 or 2-bedroom apartments. However, there are enough luxury or ultra-luxury apartments in the market.
Alanya is one of the regions where the most housing purchases are preferred in the Antalya region. As in every part, there are risks in investments here, and it is necessary to research for the proper buy. We will give you information about the best investment areas in Alanya.

 

Oba - Tosmur - Cikcilli

These regions, which are among the areas that combine the dynamics of the city with the holiday resort, are the most popular and safe regions for housing purchase and investment.
There are many apartments where you can get a residence permit and citizenship by investing in the residences here.


Mahmutlar - Demirtas

Mahmutlar and Demirtaş, the regions most preferred by foreign investors, are among the areas constantly developing, and new projects are continually increasing. There are attractive offers for buyers who prefer new residences.

Okurcalar-Türkler-Konakli

These regions, slightly outside the city, are generally preferred by holidaymakers. These regions, where hotels are located, are typically selected by buyers who want to live away from the city's noise or for investment purposes. In these regions, many residences are suitable for residence permits and citizenship.



 

Wednesday, September 7, 2022

Summer Of 2022 - What You Need To Know About The Property Market!


Summer of 2022 - what you need to know about the property market!


Over the last year or so we have seen a favorable trend for properties in Alanya. Buyers are showing great interest in investing in the area in and around Alanya, and the sellers can now get prices that they could only dreamt of a few years back.

So there is definitely an upwards trend and good opportunities when it comes to properties in Alanya.

However, the situation also calls for a bit of caution because with upsides also comes possibly pitfalls for the inexperienced.

So let us take a look at how things stand now.


Why have prices gone up?

Since the spring of 2021 we started to see a positive inflow of new customers and interest from all parts of the world.

This positive trend continued into 2022 and the sad events in Ukraine only amplified this.

Currently prices and market interest have reached a peak level that we have not seen for years.

Be aware of low offers

Unfortunately, we see that some estate agents, caretakers and others try to take advantage of the situation by contacting homeowners and offering them prices that are way below market price.

They hope that you are not aware of the current spike in prices and will agree to selling 25 percent or more below market price so that they can resell for a quick and easy profit.
So always get a professional evaluation of your property if you consider selling.

Also you should never agree to a minimum price for yourself and then allow the estate agent to add what ever commission they want for themselves.

Always agree to pay the agent a percentage of the sales price and make sure that you control the asking price of the property.


Do not be too unrealistic

However, also it is important not to get too over optimistic and to expect an unrealistic high price for your property.

Then it will not be sold and the market might suddenly turn and you will end up having to sell for a lot less than you could have sold for.

We recommend always going for the sweet spot where you take advantage of the upwards pricing trend but also still set a realistic price that will get the property sold.


A volatile market

The current market is highly volatile. This means that there is a lot of movement, a lot of buyers and also many who wish to take advantage of the rising price and sell for a profit.

We also see that things can change very quickly.

For instance it was announces a few weeks back that additional resident permit will no longer be issued for foreigners in the areas of Mahmutlar, Kargicak, Kestel and Avsallar.

That has shifted a lot of potential buyers from these areas to other areas such as Cikcilli, Tosmur and Oba where resident permits are still issued to foreigners.



All in all things are moving in the right direction and there are definitely more positives than negatives.

So with a little bit of caution and guidance and assistance of professionals there are opportunities for both buyers and seller.


As you know 2Base is always ready to help and guide you no matter if you are a seller, buyer or just curious about knowing more.


So get in touch, we look forward to hearing from you!


Monday, August 8, 2022

Understand your Turkish title deed


 In Turkey, the title deed of a property is called "tapu senedi" or simply "tapu."

 

When purchasing a property, this is the most important document since it proves the ownership of the property.

 

We also want to point out very clearly that the printed version of the deed does not hold any other value than the paper it has been published on.

So the printed version of the title deed is more considered a diploma.

 

Even if someone you do not trust gets hold of the printed version of your title deed, you don't have to worry.

 

Recently the layout of the printed title deed has changed, and in this blog post, we will talk about these changes.

 

First of all, a QR code has been introduced. By scanning it, you can access the location and features of the property on a map.

 

Also, biometric photographs are now used on title deeds.

 

Let's go over the five sections of the new deed to make everything easier to understand.


 

1: Plot information

In this section, the location information of the property, such as province, district, neighborhood, and land register numbers, is located on the title deed.

 

2: Photograph

The section where the biometric photo of the deed owner will be added

 

3: Property information

Information such as the type of the real estate, sharing of the common areas, land size, floor number and apartment number, and other reference numbers.

 

4: Owner Section

Here you have information about owners and their shares.

5: Registration information

In the final section, you will find the QR code, internal registration of the land registry office, stamps, signatures from the land registry office, and the official sales price.

 

Should you have any questions about the information on your title deed - old or new version - please do not hesitate to contact 
us
 
                    

Tuesday, May 17, 2022

New & fresh online magazine is now available!


 

Hello everyone!

Welcome to another exciting edition of our online magazine.


Here at 2Base we have had a very busy year. The restrictions and interruptions of travel and vacation are finally over and we see that all of you have missed your vacations in Alanya.


It is so good to finally have you all back :-)


The real estate market in the entire region is soaring and after Istanbul, Antalya was the place with the most sales in Turkey.

This does not surprise us, after all our region is the perfect place for a holiday home with nature at its best, friendly people, sunny weather and crystal clear water.


For the past year we have gained many new customers and became friends with all of them. Our goal is always to be as helpful as possible before, during and after the sale.


Apart from that we have also expanded our office and new colleagues have joined our team.


Finally the current situation in the world has saddened us and we take a firm stand against any kind of violence, war and aggression.


We feel extremely sorry for everyone who is affected by this situation and our best wishes are with you.


As the founder of Turkey, Mustafa Kemal Atatürk, said:


"Peace at Home Peace in the World!"


I wish all of you good reading.


Ozan Demir

Editör

Monday, April 4, 2022

A quick hello from 2Base!



A few minor updates have recently been made to our website.

Many of them are not directly visible since they have to do with what goes on behind the scenes of the website, so to speak.


Luckily there are also a few changes that can be seen :-)


Among other things it is now possible to see only the units that have a video presentation. 

This is done by selecting "Properties with video" or "Complexes with video" in the main menu under "Search property".


Also our "About Us" page containing information about our history as 2Base and who we are has been updated.

Among other things, we have been searching our photo archive and found some nice, old photos.

So check out the updates and the photos starting from way back when our company was first founded.


With the situation in Ukraine in mind, we have also chosen to include a small text about our position on recent events.


It goes like this:


"In our company you will find people with a variety of backgrounds, nationalities, education, culture and beliefs.  

Together we act as a strong unit where we accept and support each other both at work and privately.


At 2Base we wish for and support a society and a world where differences and diversities thrive and where disagreements are solved via dialogue and understanding.

In short a future world where aggressivity, violence and threatful behavior is not accepted.


We therefor loud and clear say "no to war", violent behaviour, aggressivity and all other forms of destructive behaviour."


We have also started creating the next issue of our online magazine, which we hope will hit a computer screen near you by the end of April.


Finally, we would like to remind you that it is a really good idea to follow us on social media like Facebook, Instagram and Youtube.


So go ahead, visit our updated "About Us" page, see the funny pictures from the old days and  take the opportunity to jump on to our social channels.


Many greetings from 2Base.


Sunday, February 13, 2022

A new rule has seen the light of day!

A new rule regarding the purchase of real estate in Turkey has seen the light of day.


The rule means that buyer when applying for the title deed transfer must enclose a so-called “exchange certificate”, which documents that the public evaluation value of the property has been exchanged from foreign currency into Turkish lira.


The certificate is issued by the Turkish banks and must be handed in at the local land registry office along with all other required documents related to the transfer of the title deed.


In practical terms, this means that the buyer of a property in a Turkish bank account must exchange the registration value from foreign currency - typically Euro or Dollar - to Turkish lira.

The bank then issues the exchange certificate which is then submitted along with all other documents.


There are still some ambiguities about this process, but below we will explain the two most common scenarios for you as a buyer.


Likewise, we will answer some of the most frequently asked questions.


In the examples we will be using a property with a public evaluation TRL 750,000, corresponding to around 50,000 Euros.


- You have a Turkish bank account

Here you can send 50,000 Euros to your Turkish bank account, exchange for Turkish lira and get the certificate issued.

If the property must be paid in Euro, you can exchange back to Euro after the exchange certificate has been issued.


- You have no Turkish bank account

In that case a representative can do the exchange on your behalf. If you have given a 3rd party such as your real estate agent a power of attorney to be able to complete the transaction on your behalf, he or she can also complete the exchange.

In that case, you will send 50,000 Euros to your representative / broker who will complete the exchange and have the certificate issued on your behalf.


How much does this bill of exchange cost?

Once the exchange has taken place, the bank issues the certificate free of charge. In most cases, it will be necessary to exchange the Turkish lira back to Euro, as payment of the property usually takes place in Euro. 

Here there will be a loss due to different exchange rates on selling and buying foreign currency as well as a government exchange fee of 0.2 percent of the total sum.

Please note that the 0.2% government exchange fee is paid only when exchanging from Turkish lira to Euro, not when exchanging from Euro to Turkish lira.


Why has this exchange certificate been introduced?

Without drawing undocumented conclusions, it is clear to everyone that this is part of a series of measures taken by the Turkish government across all sectors in an attempt to strengthen the weak Turkish lira.


How long have you known about the introduction of this certificate?

This new regulation was introduced without prior notice on Monday 24th of January. Even the land registry office in Alanya knew nothing, and for several days it was not possible to apply for deeds, just as all ongoing title deed transaction processes were terminated.


Who does this new regulation apply to?

Currently only when a buyer is of foreign (none-Turkish) nationality the exchange certificate must be submitted.


I am thinking of investing in a holiday home in Alanya, how does this affect me?

The exchange certificate is just one of several required documents when buying a holiday home in Alanya.

At 2Base Estate Agency we are assist all of our buyers in completing the title deed transaction process from A to Z, and the exchange certificate will be issued with help from us in line with all other required documents and certificates required when purchasing a property in Turkey.


I'm in the process of buying a property in Turkey, what should I do?

There are many ongoing trades that have been affected by this new rule, and we are already in dialogue with our buyers and sellers about this.

In some cases, the buyer will already have a bank account in Turkey, and we can arrange an exchange via this account.

In other cases, we as the buyer's representative, will be able to carry out an exchange and thus have the certificate issued.


Like everyone else in the industry, we are annoyed that no notice was given before the introduction of this new requirement. 


However, we are used to and very experienced in solving small bumps along the way so that our sellers can have their home sold, and the buyer can take over their new holiday home to the benefit of themselves and their loved ones.


Tuesday, January 25, 2022

Hello from the year of 2022

A new year has gotten off to a good start and times flies all by itself.


The year has started just as busy as it ended.


Those who thought that the time around the month of Christmas and new year would be calm with time to eat cookies, relax and tie up loose ends where mistaken.


So yes, we were mistaken...


We thought that December would be the perfect month to do a smaller renovation of our office. As mentioned, it turned out not to be correct, and what was supposed to be 10 days of working from home while the office would be closed, turned out to be two weeks with customers in the messy of construction work.


In the end everything worked out just fine and customers, partners and our proficient staff all understood the situation.

Especially a big "thank you" goes out to the latter, who always do their absolute best and solve any issue that they encounter.


The reason we started a renovation at our office is working space. We are extending our team and that requires space for additional work stations.


So next time you pass by for a cup of coffee you will probably see some new faces. And all of the old ones are of course still here.


The coffee is also the same, so everything is more and less as it has always been.



Today it is raining cats and dogs and "sunny Alanya" is not available. But rain can also be cosy and has never hurt anyone.


We really look forward to seeing you all at some point this year. Several of you has not visited Alanya for several year and we hope that 2022 will provide you with an opportunity to visit, enjoy your holiday home, enjoy Alanya and pass by our office to say hello.


Traveling as things are today often leads to a lot of questions. We are reachable in a numerous ways and are happy to answer any question you might have.


Finally I would like to take the opportunity to thank the team of colleagues here at 2Base.


Neither the notary, banks, land registry office, tax office and other local authorities are easy to work and collaborate with.


And the same sometimes goes for our customers.


So a big praise goes out to my colleagues and there ability to handle this and they way they are constructive and always seek solutions is absolutely amazing.


With that - thank you for reading.


Bo Thygesen
2Base Estate Agency