Property Turkey Review

@Guest3948247 I don't come across them but I found a company called Antalya Homes Real Estate Agency.  Maybe you can try to contact them if you want to.

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Hello inografiker,

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@Guest3948247

i dealt with Property Turkey and I’m still in contact with them. It is a well established professional real estate company which can and will help you in many ways. From their head office in Istanbul they run a podcast called Straight Talk which is an excellent source of information about real estate market in Türkiye including legislation and other useful topics. Use them with confidence and you’ll be very well taken care of.

When we arrived at Istanbul, I had no idea of what to expect from a real estate firm. I thank my God for landing us in the hands of Property Turkey team members.   We visited many projects without any pressure until we selected an apartment of our desire. Our sales representative did a fantastic job supporting us with negotiation and were able to achieve steep discounts. When sale was finalized, we were introduced to the aftersales representative along with the legal team to obtain our citizenship.

We did not go to Alanya before, just internet research on Homes and Real Estate agents. Perhaps we overpaid, but the service was excellent, Ikamet, helping with Health Insurance, Driving License change, furniture, Telephone, ....

Bottom line a good agent will help you (perhaps a tip from time to time), money remains important for all (even for me).

Research upfront is important.

Comfort in life is important, without budget it will be difficult

@Guest3948247  Buyer beware...

@ahburak Not well established...

@inografiker well established and reputable...

What many people/potential clients do not know (and no estate agents will tell you) is that when you go to most housing projects there are two types of apartments you can get. Type one is what you get offered in the sales office - price is always higher due to many factors. Type two - these belong to the owner of the land on which the project is built (in most cases the project owners and land owner/owners are two different people/companies). The project owner will usually pay the land owner in apartments, not money. These apartments are exactly the same as the ones available in the sales office but with one difference - they are WAY cheaper. It is not easy to get hold of the land owners, however, there are ways. Should anyone want me to explain in  more detail - please PM.

“TurkeyExpert” is another big company. They all may be reputable and well known, but you may come across a curropt agent from this company too. A friend had a bad experience in kushadasi when used TurkeyExpert.

@Maksym Yavorskyi So many consderations if to buy, off plan we have never ever considered (only headache).

Of course (second hand property) when buying through a real estate agent you pay a lot (listing price can be easily 10% higher then what the owner wants.

But when being a foreigner you pay, we were quite lucky with our agent and they did everything for us (in principle for free, but of course we gave tips now and then (amazingly some of the employees strongly refuse).

They arranged for so many things (as a new foreigner it is almost impossible to do in a short time)

Just a few items for illustration

-Opening a bank account

-Automated debit (electricity and water)

-Having a seperate account (man and wife) is important for many items (eg Ikamet), for my wife water, for me electricty (utility bills in the proper name)

-Dealing with the electricity and water companies (easy with some direct support)

-Changing my driving license into a Turkish one (easy with support), I saw some bloggers forgot and had to take another course.

-Help with buying some furniture and huge TV (of course they get their commission, but with support is better then without and I must say prices are fine)

-Cleaning carpets and curtains good quality and in our view extremely cheap (they have their connections)

-Hospital support (in case of an emergency), I have to say I was impressed

-Arranging for phones (including automated debit)

-Internet provider and installation (the old one was not very stable (understatement), we are now quite happy

-Electricians (good I have to say)

-Small repairs (or help)

....

Bottom line of course the agent gets their commission (but in my view things are/were cheap). Perhaps we can arrange ourselves, but possibly we paid more. Comfort is important. People should considercomfort and price.

Interesting to see how people think on experiences (we were lucky I think)

When looking as these new malls (in Mahmutlar for example) are excessive expensive (I hate shopping and especially malls), I think I do better with other things

It's crucial to understand that not all companies are inherently unethical; the issues often arise from their partnerships. Many firms outsource essential services such as translation, legal assistance, and residency and citizenship guidance, but some third-party partners may not operate with integrity. Sometimes, real estate agents who work for large companies may not act with integrity or provide good customer service, but the company backs them creating further issues for the customer.

For example, a partner of a well-known (PT) company is under investigation for fraudulent practices, including bribery of clients and government officials. This partner reportedly delays processing citizenship applications for months or demands additional fees ranging from $6,000 to $10,000 to expedite the process to two months. Issues came to light after repetitive, generic communications were sent to multiple clients, who became friends meeting at their office leading to formal complaints.

Even established companies like Remax have encountered problems adhering to proper procedures. It's essential to substantiate any misconduct claims before taking punitive actions, as wrongful accusations could have serious legal repercussions, like the minimum penalty of five years of probation.

In Turkey, the government has taken steps to regulate the real estate market more rigorously, significantly affecting tourists and investors. Starting in March 2024, companies must provide valuation reports from only one company to prevent inflated property prices and ensure transaction transparency. For instance, if a property's market value is genuinely $130,000 but is listed at $250,000 to qualify for investment-based residency, this could lead to significant discrepancies in taxation and legal issues as per the written sales agreement, the example being the amount is $200,000. The government is actively fighting against it and has launched a new hotline in March and a table of fines for realtors, owners, and developers.

Many real estate agents target tourists and investors, particularly during peak seasons, drawing them into fraudulent schemes due to their lack of local market knowledge. These schemes often result in overpriced properties that do not meet citizenship or residency criteria or leave investors facing substantial taxes when they attempt to sell. This can be as high as 35% in capital gains tax.

Recent regulations also prevent combining multiple properties under separate sales contracts to meet residency or citizenship requirements. Previously, investors could stagger buying properties over some time to fast-track citizenship; this loophole has now been closed to curb misuse.

The real estate industry in Turkey is evolving, and while it offers significant profit opportunities, it also presents risks. Prospective buyers should conduct thorough due diligence—research property owners, consult with neighbors, and understand local amenities. Hiring a competent attorney is critical; they can manage negotiations, ensure the legality of your transactions, and safeguard your interests.

Ultimately, the same principles apply whether you're from mature markets like the USA or the UK. Employing an attorney ensures that sales contracts are legitimate and completed correctly. Attention to detail in your agreements, understanding property delays, warranties, and guarantees, and providing clarity before signing can mitigate risks and enhance the satisfaction of your investment.

Example:

A lady purchased a custom property from a developer which had a beautiful landscape. However, the property underwent a massive flood due to the contractor's negligence, which caused damages to the landscaping and home valued at over $50,000. The contract stated that the warranty and guarantees would ensure that the property was delivered to certain specifications, including the landscaping. Despite this, the developer refused to repair the landscaping. The lady sued the developer as her contract was legitimate, valid, and notarized. The developer lost the case and had to repair the damage. The court case lasted for two years, costing him over $80,000. This is just an example of how a contract can be enforced through legal means. If this contract hadn't been legalized, she would have lost her case and had to repair the damage. This was another highly regarded company (TH) contracted as the developer. This all started when her original sales agent left the company, and she was assigned a new agent who showed no interest in getting to know her or that she had recently purchased a property.

Example:

A company named RX sold two properties in Alanya to a young family, promising her that she would qualify for residency by investment while she was on holiday. The lady applied for residency and found out that her area was restricted, which meant she couldn't qualify for residency and retire. When she contacted the real estate company, they apologized and said they weren't aware of the restriction. However, everyone in Turkey knew which areas were restricted, as it was only a year later.

Later, she sold the properties to buy in a new area and discovered that she was taxed at 35% on 350,000 Euros. To make matters worse, she found that her TAPU was listed for 150,000 TRY, although her valuation report was correct. She was furious and suspected that the real estate agent, developer, and owner had collaborated to cheat her. However, she couldn't sue them as her contract wasn't Turkish, there were no wet stamps, no notary, and worst of all, she had paid cash of 350,000 EUROS, which left no trace of money. The owner of the real estate/investors tour agency in Sweden promoting Turkiye was the same company.

Consider hiring an attorney to represent your interests and protect your best interests. On average, these preventable incidents could have been avoided for $2000 to $5000 in most cases.

@d4zt7bsj Indeed, true stories unfold in Turkey's property market. XYZ intended to apply for citizenship when the investment threshold was $250K, with the rule clearly stating that A_Party cannot purchase property from a compatriot owner. However, the real estate agent failed to verify this, and upon applying for citizenship, authorities flagged the issue that property couldn't be bought from a fellow citizen, rendering the applicant ineligible. This situation caused immense stress. Meanwhile, Turkey increased the citizenship investment requirement to $400K, posing a significant setback. Selling before 5 years would incur heavy taxation, leading to a budget increase to $400K. Eventually, a different property was purchased after thorough legal scrutiny, ensuring a smooth transaction(hired a different attorney to verify the papers of the property this time to be 100% ensure that it was eligible for citizenship). However, additional expenses, trauma, stress for months, and different challenges faced by buyers due to some agents' greed for commission.

@Ali2397, exactly; I have lots of those stories as well. It's always best to do your due diligence and hire competent lawyers. That's another topic—competent lawyers in Turkey don't hold the same standards as those in most Western countries. I'm glad to hear that things eventually worked out for your friends. Real estate agents receive only a few hours of education in real estate before taking the exam, and online studies take 1 to 2 hours at most.

My mentor always said that lawyers and realtors are like snakes that slither along, printing money if they have bad intentions. However, some fresh out of law school may lack an understanding of the law. Listening to other expats or blogs who understand Turkiye from a foreigner's perspective is the best source since we can't speak the language, making it easier to shop for a competent lawyer.

I think you should be careful of [link moderated], as it has been on the rise lately. I had a bad experience that opened my eyes to the issue. Make sure to do your research and seek help if needed.

@MarybrownI do not need help (we moved from Netherland to the UK, then to Luxembourg, Hungary and Turkey)

Of course a good real eatate agent is essential, but you have internet, you have a phone, service was always excellent (not only Turkey).