HOW TO BUY A REAL ESTATE IN TURKEY?

Foreigners may buy a real estate in Turkey for purposes such as investment, obtaining a residence permit, or securing citizenship. To this end, foreign individuals are required to complete the relevant land registry transactions in compliance with applicable legal provisions. However, it is generally impractical for foreign buyers to fully comprehend the statutory limitations and independently carry out the necessary procedures without the guidance of a qualified professional.

This article provides a comprehensive overview of the key restrictions governing real estate acquisitions by foreigners in Turkey and the associated procedural requirements.

How to Buy a Real Estate in Turkey?

Purchasing a real estate in Turkey is a straightforward process when handled correctly. With proper guidance and preparation, foreign nationals can securely invest in the country’s dynamic property market.

Foreigners may buy a real estate in Turkey under certain conditions. These include compliance with statutory limitations, alignment with international relations and national interests, and ensuring that the total area of the acquired property does not exceed 10% of the district’s total surface area.

Additionally, the total area acquired by an individual must not exceed 30 hectares nationwide, and the property must not be located within a designated military security zone. Provided these criteria are met, foreign nationals from countries specified by the President are eligible to acquire various types of real estate in Turkey, including residential properties, commercial premises, plots of land, and agricultural fields.

Title Deed Procedures and Other Requirements for Foreigners to Buy a Real Estate in Turkey

Once the decision to purchase a property has been made, all relevant title deed procedures must be carried out at the Land Registry Office in the location where the property is situated. Before scheduling an appointment at the Land Registry Office for the transaction, the following documents must be collected:

• Notarized identity and passport translations of the foreign buyer,
• Identity/address declaration form for the foreign buyer,
• Property valuation report,
• Official document of the property’s market value obtained from the municipality,
• Compulsory earthquake insurance policy,
• Potential tax number issued for the foreign buyer,
• Foreign currency purchase certificate,
• Passport-sized photographs of the buyer and seller (taken within the last six months),
• Original power of attorney, if the transaction is to be conducted by proxy.

After gathering these documents, an appointment must be scheduled at the Land Registry Office where the property is located. This can be arranged by the buyer, the seller, or their legal representatives. Once the appointment is made, the Land Registry Office notifies the parties via SMS about the date and time of the transaction, the required title deed fees, and the revolving fund fee.

Currently, each party involved in the transaction is legally required to pay a title deed fee amounting to 2% of the property’s declared value. However, it is customary in Turkey for the buyer to bear the entire title deed fee. Additionally, the buyer is responsible for covering the revolving fund fee, which varies depending on the location of the property.

After completing all the procedures and payments, the parties must appear at the Land Registry Office on the designated date and time to sign the official sales contract. Following the execution of the contract, the transfer of the property is completed, and the title deed is immediately handed over to the buyer.

Key Considerations for Foreigners to Buy a Real Estate in Turkey

Foreigners intending to buy a real estate in Turkey should be aware of certain practical details from the application process and specific provisions outlined in relevant laws. Key considerations include:

• Formalization of Sales Contracts: Real estate sales contracts must be executed in an official capacity and carried out at Land Registry Offices or through notaries. Ownership rights are transferred to the foreign buyer only upon registration at the Land Registry Office.
• Verification of Encumbrances: It is crucial to check whether the property to be purchased, such as a house or land, is subject to restrictive encumbrances like liens or mortgages that could hinder its sale. This information can be obtained from the Land Registry and Cadastre Directorate or notaries.
• Zoning and Land Use Status: The zoning status of the property must be verified with the Land Registry and Cadastre Directorate or notaries to avoid future issues regarding its official classification or intended use.
• Verification of Location: Ensuring that the property is situated at the promised location is advisable. This can be verified online using the province, district, neighborhood/village, map sheet, and parcel details through the application provided by the General Directorate of Land Registry and Cadastre.
• Valid Power of Attorney: When sales are conducted by representatives, it is essential to confirm that the individuals involved have valid powers of attorney. Cases of fraud involving counterfeit powers of attorney often lead to significant losses for foreign buyers.
• Compliance with Legal Restrictions: The property must comply with statutory limitations. Non-compliance with legal requirements may result in the disposal of the property.

By addressing these points diligently, foreign buyers can avoid common pitfalls and ensure a smoother real estate acquisition process in Turkey.

An expert attorney specializing in this field can also carry out the entire process on behalf of the foreign buyer through a power of attorney. At Ongur & Partners, we have been providing safe and efficient assistance to our clients for years through our team of experienced, English-speaking attorneys.

A Comprehensive Guide for Foreign Nationals Buying Property in Turkey

Purchasing property abroad, especially in Turkey, can be a rewarding experience. However, the process may seem complex due to unfamiliar laws, potential risks, and language barriers. To ensure a smooth and secure transaction, we’ve prepared a step-by-step guide to help foreign nationals navigate the Turkish property market with confidence.

Why Buying Property Abroad Feels Challenging

Several factors make buying property overseas feel risky:

• Fear of fraud: Concerns about losing money and time.
• Legal differences: Varying laws and regulations in different countries.
• Legislative gaps: Perceived weaknesses in rules for foreign property buyers.
• Language barriers: Difficulty understanding legal jargon.
• Limited control: Feeling disconnected due to being outside the target country.

At Property Turkey, we recognize these challenges. With over two decades of experience, we’ve designed practical guidelines to minimize risks and simplify your property investment journey. Follow this 11-step process to turn your dream of owning a home in Turkey into a reality.

Step 1: Research the Market

The Turkish real estate market offers a wide range of properties, from coastal villas to city apartments, at various price points. Begin by identifying the regions that align with your lifestyle, budget, and preferences.

• Foreign nationals can purchase up to 30 hectares of land.

Use trusted resources and rely on seasoned real estate professionals to gather accurate market insights.

Step 2: Choose the Right Real Estate Agent

Your agent plays a crucial role in ensuring a seamless buying experience. Look for real estate in turkey:

• Established credibility through testimonials and reviews.
• Agents who understand your lifestyle needs.
• Professionals with in-depth knowledge of Turkey’s diverse regions and culture.

Avoid agents who push memorized sales pitches or prioritize their agenda over your requirements.

Step 3: Build Rapport with Your Agent

Open communication with your agent is essential for a successful property search. Share your preferences and expectations clearly, and allow them to guide you. A trustworthy agent will prioritize your satisfaction, ensuring the property aligns with your vision.

At Property Turkey, we focus on building lasting relationships with clients, helping you find the perfect home tailored to your needs.

Step 4: Visit Turkey

Familiarize yourself with the country, its regions, and the lifestyle before making any commitments. Explore neighborhoods, try local cuisine, and immerse yourself in the culture to determine if it feels like home.

Step 5: Join a Property Inspection Trip

A well-organized property inspection trip offers:

• Opportunities to view a variety of properties.
• A chance to understand the local lifestyle.
• Insights into real estate options across Turkey.

Avoid trips organized by single developers, as they often limit you to their properties and employ high-pressure sales tactics.

Step 6: Visit Properties for Sale

During your trip, ensure you view multiple property types within your budget. By comparing options, you can make an informed decision about what suits your needs best.

Step 7: Negotiate Price and Terms

Negotiation is key to securing the best deal.

• Leverage your agent’s expertise to negotiate favorable terms.
• Budget for additional costs like taxes and legal fees, which are lower in Turkey compared to other European destinations.

Step 8: Reserve Your Property

Once you’ve chosen your property, a reservation deposit is required to secure it. This non-refundable deposit is deducted from the purchase price.

To proceed with the purchase, you’ll also need:

• A Turkish tax identification number.
• A local bank account in Turkish Lira.

Step 9: Appoint a Solicitor

Granting power of attorney to a qualified solicitor simplifies the buying process. Your solicitor will handle all legal formalities, ensuring a smooth transaction while you focus on other priorities.

Step 10: Conduct Final Checks

Before completing the purchase, your solicitor will:

• Verify the property title.
• Conduct necessary checks with the municipality.

Since 2019, military clearance is no longer required, further streamlining the process.

Step 11: Finalize Ownership (TAPU)

The final step involves registering your property at the land registry office to receive your TAPU (title deed). Additional steps include:

• Obtaining a property valuation report.
• Securing earthquake insurance.

Congratulations! You are now the proud owner of a property in Turkey.

Step 12: After Purchasing Property in Turkey

After you’ve acquired your property in Turkey, there are a few post-purchase essentials to handle. As part of our after-sales service, we assist with:

• Setting up utilities (electricity, water, and gas) in your name.
• Purchasing furniture, appliances, or décor if needed.
• Arranging bill payments, including annual property tax.

If you won’t be staying in Turkey full-time, consider hiring a property management company or appointing a trusted keyholder to look after your property. Regular inspections and maintenance ensure your home remains in excellent condition, even when you’re abroad

Can I Buy Property in Turkey and Obtain Citizenship?

Yes, purchasing property in Turkey can lead to citizenship through the Turkish Citizenship by Investment Program. Here’s how it works:

1. Ensure you have a clean criminal record.
2. Purchase real estate meeting the program’s minimum investment threshold.
3. Apply for a residence permit as the first step.
4. Submit your application for Turkish citizenship and a Turkish passport via government-approved channels in Ankara.

Foreign investors can hold dual citizenship, making this an attractive option. For detailed guidelines, including legal documents and application steps, contact us for expert assistance.

Can Foreigners Buy Real Estate In Turkey

Yes, foreigners can buy real estate in Turkey, and the country has become a popular destination for international property buyers due to its favorable laws, attractive property prices, and growing market. However, there are specific rules and procedures that foreign buyers need to understand before making a purchase.

How Long Can You Stay in Turkey If You Own Property?

Property ownership in Turkey allows you to stay for 90 days within a 180-day period under the standard visa rules. If you wish to stay longer, apply for a residence permit.

• Many foreign buyers successfully obtain residency by meeting the minimum property investment requirements.
• You’ll also need to demonstrate sufficient income to support yourself while in Turkey.

Always check the residency regulations before purchasing property.

Risks of Buying Property In Turkey

Investing in Turkish real estate can be an exciting opportunity, but like any property market, it comes with potential risks. Understanding these risks and taking steps to minimize them will ensure a smooth and secure transaction.

Buying property in Turkey from UK

Turkey has become a favorite destination for UK buyers seeking vacation homes, investment opportunities, or retirement properties. Its beautiful coastlines, affordable property prices, and straightforward buying process make it an attractive option.

Buying Property in Turkey for Citizenship

Turkey offers an attractive Citizenship by Investment Program (CIP), allowing foreign nationals to gain Turkish citizenship through property investment. For those seeking a second passport and a foothold in a vibrant, strategically located country, this program is a popular choice. Below is everything you need to know about buying property in Turkey for citizenship.

Cost Of Buying Property In Turkey

Buying property in Turkey is generally more affordable than in many other countries, but it’s important to understand the associated costs to plan your budget effectively.

Is buying property in Turkey a good investment

Buying property in Turkey can be a highly rewarding investment, offering several advantages for both long-term returns and immediate benefits. However, like any investment, it comes with its own set of risks and considerations. Here’s a breakdown of why Turkey can be an excellent investment opportunity and what to consider before making the purchase.

Eligibility for Turkish Citizenship by Investment

To qualify for Turkish citizenship through real estate investment, applicants must:

1. Invest at Least $400,000:
   • Purchase one or more properties with a combined value of $400,000 or more.
   • The investment must be maintained for at least three years.
2. Have a Clean Criminal Record:
   • Applicants must demonstrate a clean criminal history.
3. Purchase Property from a Turkish Seller:
   • The property must be bought from a Turkish company or citizen (not a foreign-owned entity).

Can I Rent Out My Property in Turkey?

Yes, you can rent out your property for short-term or long-term rental income. Here’s what you need to know:

• Short-Term Rentals: Platforms like Airbnb are popular, but you must follow local rules, including obtaining a license and securing permission from your neighbors. Note the 100-day law, which limits short-term rentals to 100 days annually.
• Long-Term Rentals: Adhere to regulations and declare your income to pay rental tax.

If you’re interested in earning passive income, we can guide you to rental properties with guaranteed yields.

Can Foreigners Get a Mortgage in Turkey?

Yes, foreign nationals can obtain mortgages from certain Turkish banks. However, consider these key points:

• Mortgage rates may vary, so compare options carefully.
• Banks typically offer loans for a percentage of the property price, not the full amount.
• It may be more cost-effective to explore alternative funding options or make a cash purchase.

We can connect you with reputable lenders and offer advice on financing your dream home in Turkey.