Real estate terminologies that investors should know before buying a property in Turkey 

Every investor, financier, and businessman should be familiar with the many words associated with the Turkish real estate market, especially if they want to purchase an apartment with the goal of relocating there or getting Turkish citizenship.

In this article, we will address a number of queries and explain the definitions of the most crucial of these terms and terminologies.

What is meant by the transfer of property ownership?

It is a procedure by which the ownership of real estate and land is transferred from the owner of the property, whether an apartment or a building, to a new buyer. This process takes place in accordance with official papers such as contracts and the procedures that follow.

 It is the process of assigning ownership of the property from the owner to the buyer in exchange for a financial allowance equal to the value of the property. It is also one of the measures taken by the relevant authorities, under the direction of the Real Estate Registry Department, to prevent the buyer or owner from becoming embroiled in a property dispute regarding the title deed document, which is organized by the Real Estate Registry Directorate of the Turkish Ministry of Environment and Cities.

What is Tapu?

The title deed document, which is the document organized for a specific property and certifies the ownership of the property to the person specified in the document, is organized by the Real Estate Registry Directorate of the Ministry of Environment, Urbanization, and Climate Change. Additionally, it includes details on the property, real estate survey numbers, and the address of the property.

Who is the real estate broker?

A real estate agent is the individual designated by the official authorities to work to streamline the processes for everyone involved, including both purchasers and sellers of Turkish real estate.

Who is the real estate developer?

It is a company that specializes in developing ideas for developing a residential or commercial project or modernizing, developing, or rebuilding old real estate, and the real estate developer bears the full responsibility of the real estate project. The real estate developer may be the project financier and owner of the trademark, or the supervisor of project management and its complete success.

Who is the real estate agent?

For the purpose of handling the sale and marketing of these assets, a real estate agent is the one who obtains a power of attorney from real estate owners, real estate development firms, or corporations in order to purchase real estate on their behalf at the most competitive price.

What is meant by a real estate consultant?

The real estate consultant is the one who advises and consults people and businesses on buying and investing in real estate in Turkey. Also the real estate consultant evaluates if it is reasonable to invest in the needed property in light of the investor’s preferences.

What does real estate investment mean?

It is the process of earning and developing money in the field of real estate, and real estate investment is carried out either by renting the property and ensuring a fixed monthly return, or buying the house and selling it after a period with an increase in profitability acceptable to the investor.

What is meant by real estate marketing?

An integrated science that examines the wants and aspirations of consumers in the Turkish real estate market both now and in the future, so that businesses may work to meet them in exchange for a fair profit. This is done through research, inquiry, and customer surveys.

What is meant by the term real estate appraisal?

In order to reach the market value, which in most circumstances necessitates knowledge, art, and experience, it is science that seeks to appraise real estate in all of its forms (land, dwellings, stores, industries, and farms).

What do returns mean?

Since maintaining the security, cleanliness, and maintenance of residential complexes necessitates the employment of particular resources, energies, tools, and contracts, these are costs determined by the administration of the residential complexes. Of course, providing for these needs implies ongoing costs, and these costs rise if the complex’s members decide to include any luxuries.

What is meant by real estate swap?

It is the practice of swapping or purchasing real estate in exchange for donating another piece of property, doing so with cash and property, or doing so with bonds of value.

What is the deposit?

It is the process of indirectly reserving the property, in which the client or customer pays a sum of money as a down payment in exchange for the property to be purchased. It should be noted that this amount cannot be recouped in the event that the decision to buy the property is changed, for any reason.

What does a mortgage mean?

When you purchase a home with a mortgage, a loan is obtained from the bank and repaid over time; the property is then mortgaged to the bank until the entire price is paid.

What does the term finishes mean?

The structure’s walls, floors, ceilings, and roofs are all involved in this final stage of construction, and the importance of the finishes comes from the fact that they will subsequently appear as an apparent surface for all building components, whether internal or exterior.

What are studio apartments?

It is a compact open-plan apartment with a hallway, a living room, a kitchen, a bedroom, and a bathroom. For newlyweds, students, and employees, a studio is the most practical choice, especially if it is close to important locations and places of employment.

What are duplexes?

These flats have two levels that are completely independent of one another and are connected to one another by an internal stairway inside. There are utilities and a sitting area on each story, making it unnecessary to travel down to the lower floor. The owner can choose to use the lower floor for living and the upper floor for bedrooms and other purposes.

What is the land registry?

Cadastre is the term used to describe the procedure by which the state determines and records the boundaries and value of all lands located within its limits. Financial, legal, and engineering land registry are the three different types of land registries. The value of the land is recorded in the land register, as well as the legal rights to the property; the engineering cadastre records the borders and structure of the land; and the legal land registry records the value of the land.

What does usufruct mean?

Cadastre is the term used to describe the procedure by which the state determines and records the boundaries and value of all lands located within its limits. Financial, legal, and engineering land registry are the three different types of land registries. The value of the land is recorded in the land register, as well as the legal rights to the property; the engineering cadastre records the borders and structure of the land; and the legal land registry records the value of the land.

What is title insurance?

A type of insurance known as property insurance covers risks associated with real estate, defends the legal rights of the property owner, and compensates the covered property owner for insurance coverage losses.

What is the compound?

It is a residential complex enclosed in walls and gates guarded by private security personnel. The compound contains all the services a resident might require, such as recreation areas and shops, the size of the provided services varies from compound to compound depending on how many buildings are present and the capacity of the coumpund.

What is a penthouse?

a particular kind of apartment that is typically found on skyscrapers’ top floors. The penthouse apartment occupies the entire floor and boasts a 360-degree outlook with glass facades. It is regarded as one of the most comprehensible varieties of apartments overall.

What does the term real estate speculation mean?

It is an investment with a large percentage of risk, because the speculator buys the property during price fluctuations, not caring about the current price of the property, but depends on its price in the future.

What does common property mean?

It is the real estate that is co-owned by more than one individual and has one real estate number.

What is a housing document?

It is the document that is received following the building’s construction in order to use it for residential purposes.

What is a real estate statement?

It is the document required by a person or institution to prove ownership of the property, and it is obtained from the municipality of the area in which the property is located in exchange for a financial receipt.

Compare listings

Compare