What is meant by projects guaranteed by the Turkish government?
We will explore the details of projects guaranteed by the Turkish government and the economic and investment benefits they provide to foreign and local investors and we will shed light on the mechanisms of purchase and ownership, the opportunities available to benefit from these pioneering projects, and how to benefit from those guarantees provided by the Turkish government to guarantee the rights of buyers and investors in this vital sector.
What is meant by projects guaranteed by the Turkish government?
The term "real estate projects guaranteed by the Turkish government" refers to projects that are implemented in cooperation between the government sector and private construction companies in Turkey and the subscription is where the government sector provides the area on which the project will be built to the construction companies to implement the project from the architectural point of view.
The government sector is tasked with ensuring that the specifications of the pre-project plan are matched with the final specifications after implementation and he also monitors construction and durability standards and supervises implementation scheduling so that the project is delivered on time as per project contracts and agreements.
These government-guaranteed real estate projects are part of the government's efforts to develop infrastructure and boost the real estate sector in Turkey and these projects are attractive investment opportunities for investors who are looking for projects with guarantee and stability and these projects include residential, commercial, tourism and other infrastructure projects that contribute to the economic and social development of the urban areas in Turkey
What are the types of Turkish government guarantee in real estate projects?
There are two types of Turkish government guarantee in real estate projects, get to know them:
Full government guarantee:
It is characterized by the fact that government companies implement the entire real estate project, as they own the land allocated for construction and carry out all construction, finishing, marketing, selling real estate and concluding contracts with buyers and this type of project is common in new cities or on the outskirts of cities, where the government seeks to develop lands and construct habitable housing units.
Partial government guarantee:
It can be done in two different ways:
1. Government companies own the lands allocated for the project and conclude agreements with reputable private companies in the field of real estate to carry out construction and finishing operations.
2. Government companies actually carry out the construction and finishing process, but they cooperate with another private company that contributes to the project and gets a percentage of the profits.
These projects provide distinct investment opportunities and reflect the government's keenness to develop the real estate sector in Turkey and provide quality housing for citizens and these projects also contribute to promoting economic growth and improving the physical infrastructure of areas that are witnessing urban transformation and continuous development.
What are the types of project contracts guaranteed by the Turkish government?
1. Direct ownership contract: These contracts are signed directly between foreign investors and government companies guarantors of real estate projects in Turkey and in this type of contract, the investor is not allowed to pay installments over a long term because the first owner of the property is a foreign citizen.
2. Assignment contract: This type of contract is between the investor and the Turkish citizen who owns the property, where the purchase contract is assigned by the Turkish citizen to the investor and accordingly, the installment plan is transferred to the foreign investor completely and may reach a period of up to 10 or 20 years and this type of contract gives the foreign investor the opportunity to pay installments in the long term and contributes to increasing the investment attractiveness of real estate projects in Turkey.
The importance of projects guaranteed by the Turkish government:
The guarantee of the Turkish government guarantees the rights of the buyer at all stages of the project, starting from the pre-sale stage, where the government follows up all the necessary licenses for the implementation of the project provided by the construction company, and it also checks all promotional advertisements used to market the project to ensure their validity and accuracy.
The procedures also include visits by Turkish government experts to the project to inspect the typical apartments in the sales offices before offering the project for sale and this aims to verify the quality of the property and its conformity with the approved specifications.
In the sale phase, the guarantee ensures the right of the foreign investor when buying real estate in Turkey, as it ensures that he obtains all legal documents and permits necessary for real estate ownership in a safe and legal manner.
With these procedures and periodic audits, the Turkish government guarantee is an important mechanism for protecting the rights of the buyer and ensuring the quality of real estate projects in Turkey and this guarantee enhances confidence in the real estate market in Turkey and attracts foreign investors to invest in this developed and reliable sector.
Advantages of projects guaranteed by the Turkish government:
1. The Turkish government guarantees projects are characterized by high quality and elegant architectural designs.
2. The companies responsible for the construction of real estate with the guarantee of the Turkish government are of high credibility and possess the necessary equipment to deliver real estate projects according to the agreed specifications and on the specified date.
3. Projects that are guaranteed by the Turkish government are supported by necessary services such as schools, hospitals, transportation, and others.
4. Real estate projects in Turkey backed by a government guarantee provide investors with payment methods in installments, and the repayment period can reach 20 years.
5. The process of signing contracts takes place directly with the Turkish government through the government guarantor company and is registered with the Notary Public, which enhances the investor's confidence and fully protects his rights.
The mechanism of buying a property in Turkey with a project guaranteed by the Turkish government:
When buying a property in Turkey, the buyer inspects the property on the plans, location, and view before making a purchase decision and after that, he books the apartment and goes to the government company's head office and at that moment, the contract is signed between the buyer of the property in Turkey and the Turkish government, and the first payment is made, after that the apartment is received and the installments recorded in the contract are followed up, and the real estate owner in Turkey can benefit from the offers of discounts available for real estate in Turkey.
Common questions:
What are the advantages offered by projects guaranteed by the Turkish government?
Projects guaranteed by the Turkish government enjoy high quality in design and construction, and contain the necessary equipment such as schools, hospitals and means of transportation and it also provides flexible payment methods and installment facilities for investors.
What are the companies responsible for establishing projects with the guarantee of the Turkish government?
The companies responsible for constructing projects with the guarantee of the Turkish government are of high credibility and have the necessary equipment to deliver real estate projects with the agreed specifications and on time.
What is the role of the Turkish government in projects with its guarantee?
The government sector undertakes the task of ensuring that the specifications in the project's pre-plan are compatible with the project's specifications after its implementation, as well as supervising the progress of the project's timeline and its implementation in the agreed manner.
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