Islamic Finance
Buying a Home in Turkey Through Savings-Based Finance (Eminevim, Fuzul Ev): How Our Advisory Works for Citizens Abroad
Turkey's interest-free savings-based finance companies let members save toward a home and receive funding when their turn comes. The hard part is finding a property the company will approve. Here is where the process breaks, what we do, and what we deliberately do not do.
Savings-based housing finance, tasarruf finansmanı in Turkish, is a licensed, interest-free system in which members make regular payments into a shared pool and, when their turn arrives, the company pays the purchase price directly to the seller. Companies such as Eminevim, Fuzul Ev and Katılımevim operate under Banking Regulation and Supervision Agency licences, and several of them serve Turkish citizens living abroad who want to buy in Türkiye. For many of our clients in Europe and the Gulf this is the route they already chose. Our role begins after that choice.
Where the process breaks
Three points. The first is property eligibility. Because the company pays the seller and wants a transferable title in return, the apartment must hold a condominium or construction servitude title, have an occupancy permit and be free of liens, mortgages and annotations. Off-plan projects fail this test, since their titles transfer only after the occupancy permit is issued. The second is time: from paperwork to payment typically takes one to two months, and the seller must accept that. The third is the appraisal: the company sends its own valuer, and if the figure comes in below the agreed price the buyer covers the gap.
What we do, in five steps
One, an intake conversation. We ask for the financing amount in your contract, the date your turn is due, and whether you intend to live in the home or rent it out. We do not advise on which company to join, because that contract is already signed and the choice is yours.
Two, we filter the portfolio. Fifty-six of our domestic projects are completed and ready to move into, forty-nine of them in Istanbul. Those are the only ones we show, because a transferable title is the first and most decisive requirement. Projects under construction are excluded from the shortlist entirely.
Three, we pre-check the documents. We obtain the title record, the occupancy permit and the service charge and property tax statements from the seller and screen for encumbrances before the company's valuer is even booked.
Four, we manage the seller. We explain in writing that payment will come from the finance company by bank transfer on a one-to-two-month timeline, and we put that timeline and any deposit arrangement into the agreement. Sellers who expected cash and walk away at the last moment are the most common failure we see, and this step prevents it.
Five, we run the registry day. We prepare the document set in the format the company requires, coordinate the appraisal visit, and follow the payment and the title transfer through to completion, by power of attorney if you are abroad.
What we do not do
We have no partnership, agency or commercial arrangement with Eminevim, Fuzul Ev, Katılımevim or any other savings-based finance company. We do not recommend one company over another. We do not guarantee that a property will be approved, because the final decision rests with the company's own appraisal and criteria. What we do is remove the reasons a file usually fails before it starts, and manage the seller side so the timeline holds.
Buying from abroad
The process is the same from abroad. The difference is paperwork: a consular power of attorney, a Turkish tax number and a Turkish bank account need to be in place early. We list those in advance, run the property selection through video walkthroughs and written reports, and complete the registry transfer by proxy. If you are comparing this system with participation banking products such as murabaha or ijara, our Islamic finance page sets out the differences.
To start, send us the financing amount and the due date from your contract and we will map the rest together. Contact us or browse our completed projects.
This article is for information only and is not investment or financing advice. Realty Galaxy Global has no partnership, agency or commercial arrangement with the savings-based finance companies named here. Their current terms, payment plans and delivery rules change by campaign, so confirm binding information through the company's own official channels. Eligibility for non-Turkish nationals is decided by each company individually.
Frequently Asked Questions
- Is Realty Galaxy Global an agent for Eminevim or Fuzul Ev?
- No. We have no partnership or agency arrangement with any savings-based finance company. We are an independent property advisory working on the stretch between property selection and title transfer.
- Can I use savings-based finance while living abroad?
- Several licensed companies serve Turkish citizens living abroad. Eligibility, including for non-Turkish nationals, is decided by each company. We handle the property and registry side by power of attorney.
- Will the company approve the apartment you select?
- The company decides through its own appraisal and criteria, so we do not guarantee approval. We pre-check title, occupancy permit and encumbrances to remove the most common reasons a file fails.
- Can I buy an off-plan unit this way?
- Usually not. The company needs a transferable title, and off-plan units only transfer after the occupancy permit. That is why we shortlist completed projects only.