The most frequently asked questions about buying a property in Turkey
Last Updated: 2023-07-27The most important questions about buying a property in Turkey
The real estate market in Turkey attracts foreign and Arab investors, and in recent years the percentage of foreign ownership of real estate in Turkey has increased significantly due to the boom of the Turkish real estate market and the high profitable returns it provides on an annual basis. In addition to being a safe and stable market.
There are many questions related to foreign ownership of real estate in Turkey , so we have collected them to provide you with accurate answers to your inquiries.
Is a foreigner entitled to buy more than one property in Turkey?
The Turkish government has made many amendments to the decisions of foreign ownership of real estate, as it lifted the ban on some Arab nationalities that were not entitled to own property in Turkey and facilitated investors the purchase process and the possibility of owning more than one property.
Can the property owner get a residence permit in Turkey under ownership?
The property owner in Turkey can obtain a two-year renewable residence under the purchase of a property in Turkey
What are the conditions for obtaining Turkish citizenship?
You have the right to obtain Turkish citizenship by buying apartments in Turkey worth $ 400,000, and you are not entitled to sell the property until after three years.
What are the taxes incurred when buying a property in Turkey? The value of the property
registration and transfer tax is 4% of the property price in Turkey and is paid only once and is often distributed equally between the seller and the buyer.
Is it possible to resell the property in Turkey?
The foreign property owner can sell his property at any time he wants, and we advise investors when they intend to sell their property to coordinate with one of the trusted real estate companies or offices.
Does a foreigner have the right to buy a property in any Turkish city?
Foreigners have the right to own real estate in all Turkish cities, and we advise our customers wishing to buy real estate and apartments in Turkey to choose Istanbul as it is the economic and tourist capital in Turkey and has the elements of successful investment.
What are the conditions for owning real estate for foreigners in Turkey? If the investor wants to buy
apartments in Istanbul, for example, he has the right to own more than one property, whether it is a residential or commercial property, without restrictions or any conditions, and if the investor wants to buy land and reclaim it, he must submit his project and reclaim the land within two years.
Can foreigners insure their property with Turkish insurance companies?
The foreign property owner in Turkey in Turkey can insure his property and there are many internationally recognized insurance companies and local Turkish institutions that provide property insurance services.
How can I subscribe to service institutions (gas, electricity, and water)?
When buying a property in Turkey, the value of insurance and connection of gas, electricity, and water services is paid for one time by visiting the concerned institutions.
Who manages the residential complex and what are the fees to be paid monthly?
Each residential complex has an administrative committee specialized in management whose task is to provide all services to the residents of the complex, maintain the security and cleanliness of the complex, and carry out maintenance and care for gardens and service facilities within the complex.
As for the monthly fees, they are simple fees paid for the services provided by the management of the complex and are determined according to the total area of the apartment, and it is worth mentioning that if the apartment is rented, the tenant bears the payment of the fees.
Editorial Mersat Real Estate Team©
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