The procedures and steps to buy a property in Turkey are easy and simple and take a short time to complete.
On the other hand, it is important for an investor who wants to buy an apartment in Istanbul or in any other Turkish city to be aware of the important details related to the real estate market in Turkey.
Today we will talk about "housing bond" and how to get it?
Construction is carried out according to a specific construction plan, which is confirmed by the municipal government departments where the buildings are constructed.
The municipality is responsible for checking these buildings before they are filled.
They review the technical status of the building, and also review the payment of fees and taxes. After completing this check, they are given permission to fill the building.
What does Housing Bond mean?
It is a permit from the municipality for buildings constructed according to specified criteria. When a building should be built according to the confirmed project, it is also important to adhere to the standards required by the government for obtaining a housing permit, for example (the building must have emergency exits and earthquake resistance).
It is also necessary for the construction company carrying out the project to obtain a residence permit, and to grant those who purchased an apartment in this project full ownership contracts after obtaining a residence permit for the building.
It is important for the owner of the apartment to obtain a "housing bond" to ensure his right as the owner of the property in the building.
The title housing bond with the title deed are a strong guarantee that the owner of the apartment in the building owns the area of land that has the same area as his apartment regardless of the number of floors of the building.
It is important for you as a foreign investor to turn to a reputable real estate consultancy and professional team to be aware of such legal issues before you buy any property in Turkey in order to avoid being a victim of fraud.