Turkey's economy and real estate is strong and described as one of the fastest-growing economies in Europe and also in the world. The economic growth has slowed down a little bit in the last years, but the property market in Turkey is still one of the best in Europe.
While buying a property abroad, you need to know all the information about the country's systems, economy, real estate market, and later the possibilities of payment, mortgage or instalment plan.
Summer Home Real Estate Agency in Turkey works together with all of the famous construction companies and can offer a unique opportunity to pay in cash or by taking a loan from Garanti Bank, Deniz bank and Kuveytturk bank.
You get a fixed interest rate on the loan for up to 10 years of mortgage payments.
The Mortgage:
- These bank mortgages are extended for the purchase of newly built properties in foreign currencies such as USD or EUR and the mortgage can be up to 20 years.
- The warranty will be your property as required in connection with the mortgage and this means that nothing is at risk of your own home in your country in case there is trouble paying off the loan arises.
- Fixed-rate over 20 years of the loan application.
- Depending on the bank, they can pay up to %80 of the cost of the property.
Documents needed for applying for a Mortgage:
- The client's tax number in their country.
- A copy of the client's Passport.
- Residency (İkamet kart)
- Documents regarding the client's income or the transactions made the last 3 months.
- A foreign residency card with a home address
- A credit status from the client's bank
- A report of the appraisers inspection of the property.
