The installment system has recently spread for buying a property in Turkey, so what is the installment system in Turkey and how can you benefit from it as much as possible?
Construction companies started providing interest-free installment offers when setting up the real estate project, where the installments are long-term, up to 60 months, or it may be through a bank that buys the property for the investor, and the property remains in the name of the bank until all installments are paid, then the bank transfers the property to the name of the buyer, and this Installments include bank interest.
It is noteworthy that 90% of installment offers in Turkey are without interest.
On the other hand, construction companies set plans for installments without the need for banks, so Muslim investors prefer this method to stay away from the usury system.
Another advantage of buying in installments is the stability of the property price even when the exchange rate of the Turkish lira changes, and this is often beneficial to the investor.
Is it better to buy in installments or in cash for foreign investors?
It is known that the cash payment has a distinct discount that exceeds the premiums discount, so it is recommended when investing in real estate in Turkey to use cash when there is the required amount without the need for installments, knowing that the installment system offers the same profit for the investor.
