Are you buying an apartment in Turkey and have already chosen an object?Let’s tell you how you can pay for real estate

A year ago, depositing money for a deal was easy: there were no restrictions and obstacles. Today, the situation has changed, but Russians are still buying housing in the Turkish Republic. Here are the ways they use.

1. Paying in cash is the most common way in Istanbul. Turks love the rustle of valuable papers in their hands, so they will be happy to give you discounts or make a special offer. We remind you that it is safer to pay for cash with the developer.

   You can bring money with you, the main thing is not to forget about the limit — 10 thousand dollars (in total in all currencies, including rubles) per person. If you are traveling with family or friends, then feel free to carry cash.

2. By transfer to a Turkish bank. To book an object, the buyer makes a deposit of 1-4 thousand dollars, and later pays the second part.

   After you have chosen an apartment, you enter into a purchase and sale agreement, in which you will receive the bank details of the developer, where you will need to transfer funds from your account. The commission is usually fixed from $40 to $300 per bank transfer.

3. Installments are a convenient option for a foreigner to deposit money in equal installments.

   The method is still working, installments in Turkey are issued with a 30% down payment, which, as we wrote above, can be paid in cash (see paragraph 1). The customer pays the remaining cost without interest in subsequent payments in accordance with the agreement.

4. Cryptocurrency. Yes, some developers have a crypto wallet where you can send the required amount without any problems.

   Recently, this method has been gaining popularity and even has advantages, such as speed, anonymity and small commissions. However, there are also disadvantages — not all objects in Turkey are sold for cryptocurrency, so specify the payment terms in advance. And there are also scammers, you should not forget about them. Trust trusted agencies.

   The procedure itself is simple: you buy a cryptocurrency (for example, USDT or other stablecoins) and transfer it to the developer’s crypto wallet or withdraw it to your Turkish lira account, from which you then pay for real estate.

5. Mortgages are not suitable for Russians now, such loans are practically not issued, and if you are lucky, the conditions will not please.

   Previously, the method was working, mortgages in Turkey were issued even in rubles. Since January 24, 2022, the Turkish Central Bank has obliged foreigners to exchange currency into lira, receive a certificate and submit it to the Cadastral Office. The amount should be equal to the cost of an apartment in TAPU, and this contradicts the rules of mortgage registration, since the client makes an initial payment.

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