Real estate projects guaranteed by the Turkish government
Real estate projects in Turkey are flourishing and growing, especially those projects that are backed by the guarantee of the Turkish government, and the great demand for them has begun by foreign investors in order to buy real estate in Turkey. Because the Turkish real estate sector has become a pillar of the Turkish economy and a platform that receives investment attention on its lands, it was the duty of the Turkish government to confirm the strength of real estate investment in it and the ability of construction companies to implement real estate projects in Turkey with quality and high standards and to complete projects on time for delivery through the government guarantee Turkey for these projects and to confirm the safety of investment in them.
ستتعرف في هذا المقال على :
What is meant by real estate projects guaranteed by the Turkish government?
The term real estate projects in Turkey with the guarantee of the Turkish government refers to projects that are built on the basis of partnership between the government sector represented by architectural departments and municipal councils and between private construction companies, as government companies provide the space on which the project will be built to the construction companies to start implementing The project is architecturally, and the image of real estate in Turkey is evident.
The government sector is tasked with ensuring that the specifications in the project’s pre-plan are in conformity with the project specifications after its implementation, and the government sector is also checking the construction standards and durability and supervising the progress of the project’s timeline as planned so that it is delivered on time according to what is established in the contracts project and sale.
Types of Turkish government guarantee in real estate projects
Full government guarantee
In it, government companies are unique in the entire real estate project, starting with owning the land allocated for building the project, through the entire construction and finishing process, to the marketing process, selling real estate and concluding contracts with buyers.
And often this type is in the new cities or the outskirts of the cities, because the state seeks at that time to rehabilitate the lands allocated to it and to establish housing units suitable for housing and living.
Partial government guarantee
The first case: government companies own the lands designated for – real estate projects in Turkey – and enter into agreements with private companies of good reputation and excellence in the field of real estate in Turkey for construction and finishing.
The second case: government companies own the lands designated for – real estate projects in Turkey – and they actually carry out the construction and finishing process, but another private company contributes with them and gives them a percentage of the profits in the project.
Turkish government guarantee procedures that guarantee the projects of its construction companies
The Turkish government guarantee protects the rights of the buyer at all stages of the project, starting from the pre-sale stage, a stage in which the Turkish government follows up on all the licenses provided by the construction company in order to implement this project. In addition to checking all promotional advertisements that are marketing the project. Visits are also held to the project by Turkish government experts to inspect the model apartments in the sales offices before showing the project for sale. The procedures also include the stage of sale, which guarantees the right of the foreign investor when buying real estate in Turkey
- Advantages of real estate projects guaranteed by the Turkish government
The safest and least risky investment process in the real estate sector in Turkey is the real estate with the guarantee of the Turkish government, due to the many advantages it offers, perhaps the most important of which are:
- The Turkish government guarantee projects are characterized by high quality and excellence in their elegant architectural designs.
- The companies responsible for creating real estate in Turkey with the guarantee of the Turkish government are highly credible and have the required equipment to deliver real estate projects in Turkey with the agreed specifications and deadline.
- The projects that are guaranteed by the Turkish government are supported by the necessary services from schools, hospitals, transportation and others.
- The real estate projects in Turkey that are backed by the Turkish government guarantee provide the investor wishing to own a payment method in installments that can reach up to 20 years.
- The signing of contracts is done directly with the Turkish government represented by the state guarantor company and is registered with the Notary Notary.
Types of contracts in real estate projects in Turkey with the guarantee of the Turkish government
- Direct Contract : These contracts are signed directly between foreign investors and government companies guarantor of real estate projects in Turkey. In this type of contract, the investor is not allowed to install long-term installments because the first owner of the property is a foreign citizen.
- Assignment contract : This type of contract is between the investor and the Turkish citizen who owns the property, as the purchase contract is waived by the Turkish citizen to the investor, and accordingly the installment plan is transferred to the foreign investor in full and may reach 10 or 20 years.
What is the way to buy a property in Turkey with a project of the Turkish government
The property buyer in Turkey inspects the property on the plans, location and view before making a purchase decision, then books the apartment and goes to the main office of the government company, and then the contract is signed between the property buyer in Turkey and the Turkish government, and the first payment is made, then the apartment is received and Follow up on the installments registered in the contract. The property owner in Turkey can also benefit from the discount offers available for real estate in Turkey.
Disadvantages of real estate projects guaranteed by the Turkish government
Unfortunately, there are some disadvantages to real estate projects in Turkey with the guarantee of the Turkish government in Turkey, examples of which are:
- The absence of the characteristics of sophistication and luxury, because such projects seek to create real estate with classic qualities without any distinction in finishing and design, or any highly high-quality standards.
- It can be said that the best in these projects is the partial Turkish government guarantee, as it combines the advantages of government companies that we mentioned earlier with the advantages of private companies in terms of the excellence and beauty of designs and finishes. The private company leaves a special imprint for it, which adds more luxury and luxury to the project and real estate in Turkey in terms of playgrounds, parks, cinemas, gyms, and others.
- Governmental companies may sometimes delay in the delivery of real estate projects in Turkey, due to the lack of support provided by the state or some other problems, but they guarantee that the project will be delivered in the end.
So the best advice for you if you want to buy real estate in Turkey; To buy in real estate projects with the guarantee of the Turkish government in cooperation with strong private companies, bringing all the advantages together.
Real estate projects guaranteed by the Turkish government – buying a property in Turkey
- Basaksehir Square Project : It is located in the heart of New Istanbul, specifically in the Basaksehir area, and is based in cooperation with several private companies. This project was established with the guarantee of the Turkish government, and this project will be delivered by the end of 2023. Accordingly, it is considered one of the projects suitable for investment and for family housing at the same time.
- Orsia Project : It is located in the famous Basaksehir area , opposite the Medical City, and one of its sections has two hotels, the first: investment, and the second: family.
- Gear Istanbul project : It is located near the Fatih district, combines the authenticity of history and luxury, and the project has a wonderful sea view.
- Buyuk Yali Project : It is located in Zeytinburnu, which combines stunning sea views, luxury and the fragrant history of history with modernity and excellence.
- Eberoli Project : An investment project close to important places in Istanbul, such as the new airport and Istanbul Water Canal .
- Towal Project : Enormity and excellence are the title of this project in the Bahcesehir district , on an area of 190,000 square meters, with a wonderful view of the famous Başakşehir Park and unique opportunities for real estate investment.
- Urpark Hayat project: In the Bahcesehir district of Başakşehir, this project is distinguished by its convenient installments of up to 5 years.
- Simit Bahcesehir Project : It is located in the Bahcesehir area and is one of the very convenient projects, as you can live in your apartment immediately after paying only 40% of the price of your apartment and the rest in installments over 9 years.
read more :
The real estate appraisal document in Turkey…its importance and criteria
