All that you care about property returns in Turkey
The real estate market in Turkey has succeeded in having a great impact on the Turkish economy and has had a prominent role in preserving it and preventing its deterioration, especially in the context of the great changes that are taking place in the region and in the world and the new data that there must be great flexibility in dealing with and But despite all these challenges, Turkey was able to stand steadfast and even achieve great successes at all levels, and the real estate sector in Turkey had the largest share in that, due to the many laws and legislations issued by the Turkish government that contributed to attracting Arab and foreign investors. From all over the world and pushing them to invest in real estate in Turkey in a way that benefits both parties. On the one hand, the investor usually wants to obtain the many advantages that Turkey offers him, especially Turkish citizenship through real estate investment at an amount of more than 250 thousand dollars, and on the other hand, the Turkish economy thrives. Thanks to outside capital.
Within the real estate market in Turkey, there are many terms that you should be familiar with if you choose this field, so we often hear the term real estate returns, but what does it mean? How is it paid? All this and more, we will talk about it in detail in our article for today, so follow up with us ..
Definition of returns on real estate:
Real estate returns are a sum of money paid monthly by the owner of the property who lives within a residential complex in exchange for many of the services provided by the residential complex to him, and in the following we will detail more about the services that are provided by the residential complexes.
• Services that are provided in the residential complexes:
- Protection and safety services: Perhaps the most important reason for a person to buy a property within a residential complex is the desire to take advantage of the high degree of safety and reassurance provided by the residential complex, as there are surveillance cameras in all parts of the complex that work 24 hours a day and there are guards on The compound door, their primary function is to verify the identity of all persons entering the housing complex, in order to prevent the entry of strangers, and in the event of a desire to visit, they are informed of the name of the property owner and to verify this personally to prevent accidents.
- Maintenance and cleaning services: There are special cadres in residential complexes who clean the residential complex and ensure that it appears in the most beautiful manner, in addition to contracting with maintenance workers to carry out all tasks in the event that any device or tool in any property within the residential complex breaks down, and this certainly reduces a lot of The burdens on the head of the family, there is no need to search for a mechanic, for example, but simply inform the competent authorities within the housing complex to provide the appropriate person for the task.
Entertainment and sports services: Within the residential complexes there are special fitness halls that are equipped with the latest sports equipment to do exercises and this reduces the time, effort and money for the property owner, so he does not need to go to any gym, and some residential complexes have closed swimming pools and Open with times for families, women and children, and there are also green spaces and gardens for hiking and breathing the open air, and some residential complexes are equipped with restaurants and cafes and may contain offices where you can spend your work without the need to leave the complex, as it is more like a small city .
The method by which revenues are calculated according to Turkish law:
According to Article 20 of the Floor Property Law within the Turkish law, the revenues within the property are divided according to the following:
It is determined that 50% of the proceeds will be given to the workers.
And it is determined that 25% of the proceeds will be given to all maintenance and repairs.
And 25% of the revenues will be determined to be given to the management of the residential complex, which is responsible for all these tasks.
And here we must note that these percentages remain constant, whether the size of the complex is large or small, and whatever the services it provides, such as swimming pools, maintenance services, car garages, etc.
Penalties for non-compliance with the payment of proceeds:
As it is known, the revenues must be paid on a monthly basis, except in the event that another agreement is reached by the Board of Directors, and it is imperative that these obligations not be defaulted on, but in the event of a delay in payment, the board of directors has the right to impose penalties and Fines for delay, as a percentage added to the value of the proceeds, and may reach up to 5% of the value of the returns on the property on a monthly basis, according to Law 5711, which was issued in 2007, and if the amount is not paid, matters may reach the necessary court The property owner must pay the money and return the rights to their owners, otherwise the property is seized, or even the property can be sold to pay off the debts owed by the owner.
There is no doubt that housing within residential complexes in Turkey has many advantages and provides its residents with a high degree of luxury that justifies the value of these returns.