Leyla İLHAN
It is stated that the model is used especially by foreigners in house purchases for citizenship purposes today. In addition, it is predicted that share sales will increase even more after the law allowing the conversion of hotels and apartments into residences.
Speaking on the subject, Demir İnşaat Chairman of the Board Hamit Demir said, “The purchase of shared housing and land in the sector is a system that has been used for a very long time. Share sales have been in question for 40 years. Share sale was given in the houses where license and construction servitude could not be established before. In the 80’s, most of the housing is share sale. With the continuation of the share sale, if foreigners buy a house and acquire citizenship in the purchase of a house, 2-3 people become partners in a house worth 1-2 million dollars by buying a house with shares. There is no problem with it,” he said.
“The floor alliance and they don’t get stuck in the settlement”
“There is a price cut for citizenship. They can deposit this price, make a change in banks and realize it as part of the share sale,” said Hamit Demir, adding, “Foreigners generally look more favorably to the share sale since they are not too obsessed with construction servitude and resettlement issues. On the contrary, local citizens do not look very favorably on share sales, because obtaining title deeds and construction servitude are generally a priority for our citizens,” he said. Noting that with the enactment of the law to convert hotels and apartments into residences, old hotels were offered for sale as houses, Demir stated that this led to an increase in share sales. For this reason, Demir predicted that the share sales will increase in the coming days.
Istanbul Real estate Ulvi Özcan, Chairman of the Brokers Club Business Cooperative (İSTEBKoop), said that TOKİ will implement the share sales system on the lands within the scope of the new social housing. Noting that the people who bought the land from here would then go to the contractor to build a house by giving them these, Özcan interpreted it as a correct business model in this respect.
Sales of flats by square meters are in demand
Figen Akar, Chairman of the Board of Directors of Akar Yapı, who said that the sale of flats in square meters is becoming more widespread due to the rising costs, said, “Those who have a budget and can take out loans invest in housing. A certain portfolio of investors buys square meters from the projects. The practice of buying flats or shares with square meters has started to attract serious attention as a financial solution in real estate trade.
Points to consider in the model
Hamit Demir also draws attention to the issues that need attention about the model. Demir said, “If you are buying a house from the project with a share sale, since it is not clear on which floor it is in the project, it is absolutely necessary to make a sales contract from the notary public from the company purchased,” Demir said, “For example; If they write that they have an apartment with the qualifications specified, at least by operating it on their title deeds, if they can make a copy of it by making a copy of it by notary public, by specifying which floor, how many numbers, which facade it is facing, how many square meters it is, and I am buying from X person as a shareholding. In a bad scenario, he would have secured himself.” Pointing out that most of the problems are experienced in the sale of shares, such as land, land, field sales or the conversion of the hotel into a residence, Demir said, “If they do not specify which parcel it is, they get their right from any parcel. Since there is no commitment, it is up to their luck whether they will be in the front or the back and which side they will face. The reason for this is that the state will take the share of 35-45 percent of the land and build schools, parks, gardens and roads because there will one day be development on each purchased land. For this reason, the land shrinks and it is not clear from where the buyer got his parcel. If the buyer receives a commitment on which island, parcel or map he has purchased, these problems will be prevented.