Experts have issued warnings regarding issues to consider in order not to be victimized when investing in a house abroad.

Bayram Tekçe, Chairman of the Board of Directors of the Real Estate Service Exporters Association (GİGDER), stated to AA correspondent that the number of houses purchased from abroad by citizens residing in Türkiye has increased recently, and that some European countries such as Greece and Spain and Dubai are leading the way.

Reminding that house purchases from abroad broke a record with approximately 2.5 billion dollars last year, Tekçe explained that a similar figure is expected this year.

Tekçe noted that everyone in Türkiye can easily buy a house in terms of legal regulations, and said that investors may think that the same system is applied abroad, but that may not be the case.

Tekçe, who stated that there is a constitutional right called "right to shelter" in some countries such as Spain, the Netherlands and England, and that people without homes can enter empty real estate, continued his words as follows:

"If a simple alarm system is installed, the house can be prevented from being occupied. However, if someone entered without your knowledge and you find out months later, the approach is 'you don't really need this house' and that person continues to stay inside until a house is provided. Because they are exercising their right to shelter. Here, it is more correct to rent the real estate rather than keep it empty, but if you say 'no, I live here, I don't want to rent it', you should first have an alarm system installed in countries such as Spain, the Netherlands and England."

"Lawyers and consultants should be worked with"

Bayram Tekçe noted that it is not very difficult to make a real estate investment abroad and drew attention to the importance of correct guidance in this process.

Tekçe, who emphasized that companies with offices in Türkiye and the country where the house will be purchased should be preferred, made the following warnings:

"The first rule of trade is 'doing business with the right interlocutor'. The name written on the title deed should be checked, and it should be checked whether the person who will receive the money is really the owner. Investments are generally made through lawyers in Europe and other countries. If you do not have legal knowledge, buying real estate from Türkiye with brokers or lawyers for low fees protects your investment. One of the things we need to look at is that everyone in Türkiye buys with a share of the land. Share of the land deed is common in the world, but it is not available everywhere. For example, it is not available in England, Thailand or Dubai. When you buy an apartment, you get the ownership of the floor, but you do not have the right to the land. Therefore, when the life of the building expires, the land can be transferred to another state or institution. The institution only grants the right to use that apartment." Tekçe stated that in some countries, the source of the money is requested to be disclosed, and that a tax return may be required.

"If the house is going to be rented, property management companies should be preferred"

GİGDER Board Chairman Tekçe stated that if the house to be purchased from abroad is going to be rented, property management companies should be preferred and said, "We have seen many of our customers lose their earnings due to models such as 'I left the key to you, you send the rent as long as you have customers'." Emphasizing that it is important to pay attention to the depreciation period of the apartment, Tekçe said that obtaining rights such as residence permit and golden visa varies from country to country.

Tekçe noted that Turks are currently showing the most interest in Dubai and Greece and said, "The needle has turned to Hungary in terms of the golden visa. It first started with Cyprus and Malta, they closed them, Spain and Portugal had them. Now they have closed them too. It started in Hungary and one or two of the Baltic countries will start it. I heard that Lithuania will also announce it." "Legislation should be read well"

International real estate expert Özden Çimen also stated that Turkish citizens are currently showing an increasing interest in buying housing abroad and that countries such as Dubai, Greece, Saudi Arabia and Spain stand out in this area.

Çimen, who stated that there are many criteria to be evaluated when making an investment, explained that countries with economic stability and high demand for housing should be preferred.

Çimen noted that regions that receive tourism or immigration are advantageous in overseas investments and commented, "Selling property to foreigners may differ in each country. The legislation for this should be evaluated very well. Investing in countries with good tax advantages shortens the amortization period. Some countries grant residence and residence permits after making the investment. This is also an additional advantage of the investment."

"Countries where housing can be sold easily should be preferred"

Özden Çimen, pointing out the importance of professional real estate consultants, said, "In order to avoid negative situations, it is very important to get support from professionals. You are investing abroad, even the slightest protocol you miss can cost you a lot. Therefore, it is definitely professional to "You need to get consultancy from the companies." Çimen, who noted that applications can also be made to official institutions in the target country, concluded his words as follows:

"If you are going to invest abroad, how will you sell your house after you buy it? It is very important to get consultancy on this and especially that the company in the country you are investing in has been operating for a while. Investing in countries where housing demand is high will be very important for the exit strategy. The fact that demand continues means that you can easily sell your real estate. I can say that this is a safe point for your international investment."