For many international citizens, the dream of owning real estate in Turkey has become an affordable reality. One of the most appealing aspects for foreign investors is the opportunity to obtain a residence permit after acquiring real estate.
If you don’t have the full amount required for a property purchase upfront, there are two viable options available to you:
The first option is securing a mortgage loan, which can be obtained from Turkish banks by any foreign national unable to provide the entire purchase amount immediately.
Mortgage loans in Turkey, similar to other countries, are loans in which real estate serves as collateral for the purchase. Once the loan is approved, it becomes the property of the buyer with a lien, which is released upon full repayment.
This innovation has significantly boosted demand, enabling foreign investors to acquire not only budget-friendly apartments but also high-value properties, paying for them over several years. Real estate loans in Turkey are available for both completed apartments and properties under construction (up to 80% completion), giving buyers flexibility in choosing the best option based on their preferences, whether it be cost, size, layout, or location.
The second option is to take advantage of installment plans offered by construction companies. These plans are interest-free until construction completion.
Regardless of the construction stage, when buying an apartment in an ongoing project, the installment plan remains valid until the project’s completion. Buyers typically make a down payment ranging from 30% to 50% and then split the remaining payments into monthly or quarterly installments (terms may vary by construction company). This approach ensures buyers pay only what’s due, and at the end of construction, they receive their dream apartment.
It’s important to note that installment plans are not applicable to completed properties, unlike mortgage loans.