Buying a House in Europe

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Buying a Home Abroad: A Guide for Turks

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Why Should You Buy a Home Abroad?

Owning a home abroad offers great advantages, both in terms of investment and in terms of improving the quality of life. Owning a property, especially in Europe, America or Asia, provides both a comfortable stay during the holidays and can offer the possibility of benefiting from future property value increases.

Advantages

• Return on Investment: The chance to receive rental income on a foreign exchange basis.
• Dual Citizenship Opportunities: Residence permit or citizenship in exchange for investment in real estate in some countries.
• Diversified Portfolio: An investment independent of economic fluctuations outside Turkey.

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Which Countries Should Be Preferred?

When buying a home abroad, it is necessary to take into account many factors, such as the economic and political stability of the country to be preferred, the real estate market, living conditions and tax advantages. Here are some popular countries.

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England:

• Investor Friendly Market: The UK property market is known for strong rental yields and long-term value growth.
• Various Zone Options: Cities such as London, Manchester, Liverpool offer different investment opportunities.

Spain:

• Affordable Properties: Home prices in Spain may be more affordable than in other European countries.
• Residence Permit Advantage: A residence permit is issued to those who invest in real estate over a certain amount.

Greece:

• Intimacy and Cultural Similarity: With its proximity to Turkey and similar lifestyle, Greece is an attractive option.
• Golden Visa Program: Residence permit for purchases of real estate over 250,000 euros.

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Things to Consider When Buying a Home Abroad

Legal Processes

Buying real estate abroad can be different from the processes in Turkey. Therefore, we recommend that you work with a local lawyer. Lawyers will guide and reassure you on local laws and regulations.

Taxation

Each country has different tax regulations regarding the purchase and ownership of real estate. Therefore, you should research in advance the tax policies of the country in which you intend to invest. The lawyer you will work with will also help you with taxation law.

Local Market Research

You should analyze well the real estate market in the region you want to buy, as well as the socio-economic conditions of that region. When conducting market research, resorting to the opinions of real estate agents and local consultants can help you reach more accurate results. It will also be quite useful to meet with people who have invested there before you.

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Steps to Follow When Buying a Home Abroad

1. Do Research: Determine in which country and region you want to buy a house.
2. Set a Budget: Determine the maximum budget you can invest.
3. Get Help from Local Experts: Find a trustworthy realtor and lawyer.
4. Inspect Real Estate: Decide by seeing the houses you are interested in on the spot.
5. Complete the Purchase Process: Carry out the purchase by completing the necessary paperwork and financial transactions.

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Renting Your Home Abroad

Advantages of Letting

Renting out real estate that you own abroad will provide a regular income stream and shorten the payback period of your investment.

How to Find a Tenant

• Local Realtors: You can find tenants through trusted local real estate agents.
• Online Platforms: You can rent short-term through online rental platforms such as Airbnb.com and Booking.com.

Rental Process

1. Post a Rental Listing: Post an advertisement, specifying in detail the characteristics of your home.
2. Tenant Selection: Carefully evaluate potential tenants and conduct reference checks.
3. Lease Agreement: Draw up and sign a lease agreement in accordance with local laws.
4. Deposit and Rent Payments: Take a deposit and ensure that rent payments are made regularly.
5. Maintenance and Repair: Maintain the value of your home by doing the maintenance and repairs your tenant needs in a timely manner.

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How to Rent a House Abroad in Turkey

With UPTION app It will be quite easy and quick to rent your house in Turkey. With a European Account that you will open as a member of Uption Europe IBANYou will have it. After you share this IBAN with your tenant in Europe, your tenant will be able to pay you their rent on a regular basis. Unlike traditional methods such as SWIFT, your money will be immediately transferred to your account during business hours and will be available directly in Turkey. You will be able to rent your house in Europe without having to deal with different intermediary apps/banks and without paying extra costs.

UPTION Trading Fees

Avr via UPTIONThe cost of receiving payment from upa is only 3€/£. Moreover, there is no upper limit. You can get your rent payments to Uption very quickly and easily every month, you only pay a flat fee of 3€/£ for this transaction.

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How to Become a Member of Uption

You can download the UPTION app from Play Store, App Store or Huawei App Gallery and complete your membership in 30 seconds. After verifying your account, you can activate your European Account by going to the “My Accounts” menu and get your unique UK IBAN.