Purchasing A Real Estate for Foreigners in Turkey 2023
Last Updated: 2023-09-21The comprehensive legal guide to buying a property in Turkey for foreigners
We offer you the best price offers for apartments in Istanbul and obtain the facilities required to obtain Turkish citizenship through real estate investment and choosing the right property in the evaluation to obtain it.
This guide was arranged by the legal team of Mersat Real Estate Company to help foreigners wishing to own real estate in Turkey (buying a property in Turkey ), after removing the legal barrier that prevents citizens of 89 countries from buying real estate or apartments in Turkey according to the reciprocity protocol, which encouraged attracting more investments and doubling the volume of sales of Turkish real estate units, especially that Turkey grants citizenship and a range of other privileges to investors.
In this article you will read:
The legal basis for real estate ownership in Turkey:
According to the government amendment to Article 35 of the Real Estate Law No. 2644 issued on March 18, 2012, the principle of reciprocity with regard to foreign ownership of real estate in Turkey has been abolished, according to which foreigners have the right to own any type of real estate within the borders of the Republic of Turkey. According to the laws and regulations in force in Turkey, the transfer of real estate ownership takes place through an official deed called "Tapu" that is signed and duly registered in the directorates of the real estate registry, thus transferring the legal ownership to the new owner.
Restrictions on real estate ownership in Turkey for foreigners:
The abolition of the reciprocity protocol on real estate ownership for foreigners does not mean giving them these rights absolutely, but there are a number of conditions that must be taken into account, namely:
- The area of real estate in Turkey owned by a foreigner should not exceed an area of 30 hectares.
- Real estate in Turkey owned by foreigners within the boundaries of the administrative region should not exceed 10% of the total area of the administrative area.
- Obtaining security and military approval from the competent military authorities in the area where the property is located.
Real estate in Turkey is easy and fast according to the following steps: Apply: The owner of the property in Turkey books an appointment at the Land Registry Directorate to complete the ownership transfer procedures.
(The initial appointment is booked electronically, before 12 noon, to obtain a serial number) Also, the appointment can be booked through the website of the Land Registry Directorate. https://randevu.tkgm.gov.tr
Real estate transfer procedures in Turkey
Documents required for the transfer of ownership of the property:
- Book an appointment at the Land Registry Directorate to complete the procedures for transferring ownership.
- The title deed of the property in Turkey, which includes (the detailed address of the property).
- Passport plus translation.
- Report of the average values of real estate in the region and this report is issued by the municipality.
- Property Appraisal Report in Turkey ,
- Earthquake insurance policy for real estate in Turkey.
- A personal photo of the seller in addition to two photos of the buyer.
- A sworn translator if one of the parties is not fluent in Turkish.
- In the event that the purchase is made through a power of attorney concluded outside Turkey, at the consulate or embassy, the buyer needs a translation certified by a sworn translator, accompanied by the original copy of the agency.
- In the event that the buyer of the property is a foreigner, a stamped bank receipt must be presented with the exchange of the value of the property from foreign currency to Turkish lira within the official Turkish banks.
Power of attorney concluded outside the Republic of Turkey:
- Power of attorney concluded in consulates and embassies of the Republic of Turkey.
- A power of attorney concluded at the notary public in the foreigner's country and in the official language of that country, and includes a personal photo of the owner of the agency.
It must be translated into Turkish and certified by the Turkish consulate or embassy in that country if this country is not a signatory to the Hague Convention on October 5, 1961, but if it is a signatory to this charter, the agency does not need to be certified by the Turkish consulates, provided that the explanation includes the phrase (Convention de la Haye du Octobre 1961).
Title deed transfer expenses:
- The value of the property in the title deed is not less than the value specified in the report of the average value of real estate values in the region.- The fees for title deed procedures are estimated at 4% of the value of the property registered in the title deed.
- Döner Sermaye working capital tax is estimated from 700 to 2000 TL
- Value Added Tax (KDV) which is 3 tranches 1%, 10% or 20%
Notes that foreigners should pay attention to when buying a property in Turkey.
- Before buying the property in Turkey, the buyer must review the real estate registry to ensure the legal integrity of the property, and that it is free from any legal problems such as loans, reservation or inheritance problems.- In the event that he is unable to obtain an appointment to conduct the transfer of ownership, you can review the Land Registry Directorate directly.- It is recommended after relying on unreliable real estate brokers, whether they are a company or people.- The buyer is not required to obtain a residence permit in Turkey In order to transfer the ownership of the property in Turkey, in the event of any dispute between the parties to the contract, you must refer to the relevant Turkish judicial bodies.
• In the event that the buyer is a foreign company with foreign capital: you must visit the Directorate of Commercial Registry to obtain a document specifying the capital ratios, and then visit the Directorate of Planning in the governorate building in the concerned state to obtain permission from it.
What are the cases under which real estate ownership contracts for foreigners in Turkey are canceled:
First, the contract for the purchase of the property in Turkey for the foreigner is canceled in the event that the purpose or purpose of the property is violated when buying it at the beginning of the subject, for example, if the property was purchased in Turkey with the aim of housing and stability and was used for business, the competent authorities will cancel the sale contract and consider it as if it was not, and the contracts for owning real estate in Turkey It is considered null and void if it is purchased in crooked ways far from the laws and regulations set in the country , in addition to that in the event that the period specified for the start of the project has expired and nothing of it has been implemented on the ground, the sales and purchase contracts for real estate in Turkey do not exist at all.
Ensure the specifications of the property in Turkey before buying it:
In order not to betray the price of the apartment, you have to compare the price required for it and its conformity with the specifications on the ground, and the factors that determine its price are, for example, close to the coast, although it is located near the public transportation network, which is a factor that everyone is looking for, and as we mentioned earlier that the apartment within the residential complex is more expensive than the regular apartment and this is a clear element for everyone, in addition to the view that the apartment enjoys plays a role It is important to give it its real price, moreover, the construction foot of its modernity works to determine the price of the real estate apartment in Turkey, the construction with a modern age is more expensive than the old one because it is less consuming, and finally there is an important factor that plays a role in determining the price of the apartment, which is the furnished apartment whose price is more than the empty apartment.
The problem of title deeds when owning real estate in Turkey for foreigners:
There is a problem faced by the buyer of real estate in Turkey and often does not pay attention to it until late and it is too late, which is the subject of the agricultural and residential title deed, or as they are called the red and blue title deed, the blue color is for the agricultural project and the red color for the real estate project, the blue title deed is given to those who want to buy agricultural land, and when the owner of the land wants to sell his land to an investor to build it, for example, real estate in Turkey or residential complexes This investor faces many problems caused by this bond, because whoever builds or buys residential real estate must have a red title deed and not a blue one, because red is responsible for residential real estate, so the seller of the land had to convert the title deed from blue to red, so we must pay attention to such a matter because you will ask how to build a property on land intended for agriculture mainly, so the first owner of the land had to make a change to the title deed from Agricultural to residential, in this way the buyer avoids falling into this problem that he has nothing to do with.
Vigilance when buying real estate in Turkey by foreigners:
But there are things that you should pay attention to as a person who is about to buy real estate in Turkey, so caution is required, for example, when buying apartments in Turkey for sale, you must take care about signing the purchase contract, you must be within a special legal department in this matter, as every contract signed outside it is null and void as if it did not take place, and you must be careful of buying a property on the plans without being present in person, this step can be easily cheated, and if it is signed What distinguishes real estate in Turkey from other real estate in other countries? * The real estate in Turkey competes strongly with many Arab and foreign countries, we find that Turkey is full of real estate projects that attract real estate investors from outside Turkey, and it is worth noting that Turkey's real estate and apartments are built by the most important engineers and specialists with the best building materials, and the appearance of Turkey real estate has a major role in attracting all those wishing to buy a property in Turkey with a bayonet view or a view of green areas
* Many real estate experts talk about the modernity and sophistication enjoyed by Turkey real estate in general and Turkey's apartments in particular, in addition to the application of seismic safety standards in their properties, all of this will not affect real estate prices in Turkey, as it is considered a competition for many real estate in European countries
* The laws issued by the Turkish government supporting real estate investment were the reason for the demand of many investors to buy real estate in Turkey, and these laws include the naturalization law in Turkey, which stipulated To grant Turkish citizenship to everyone who invests in Turkey with one of the types of investment, such as buying real estate in Turkey with a minimum value of 400,000 US dollars, or depositing the equivalent of 500,000 US dollars as a minimum in a Turkish bank, in addition to employing at least 50 Turkish employees.
* The Turkish government reduces taxes when investing real estate in Turkey, so the real estate taxes paid by any Turkish investor are equal to the real estate taxes paid by foreign investors in Turkey.
* Political and security stability, which in turn leads to political stability, and all this leads to the success of real estate investment.
* Real estate investment options in Turkey such as buying a property in a project under construction in a vital area and then selling the property after the end of the project at a higher price, and you can also buy an apartment in Turkey and rent it and thus guarantee a fixed return for you, and one of the real estate investment options in Turkey is to buy an old property and make improvements to it and then sell it at a higher price.
See the steps to buy a property in Turkey:
Before you make a decision to buy a property in Turkey, there are many steps that you must take to reach the ideal option suitable for you and suitable for your goals, and this is what we will be keen to inform you of in detail through the following paragraph:
First: Determine the goal you seek to achieve:
According to the goal that you hope to achieve, the choice is made, so you have to determine your goal accurately so as not to fall into the wrong choice.Often a foreigner hopes to get a profitable and distinctive real estate investment and therefore must search for areas and real estate suitable for the conditions of successful and distinguished investment.A wide category chooses to live and reside in real estate in Turkey and therefore they must look for real estate and options that suit them and provide them with comfort and independence.According to some statistics, more than 40% of those who bought real estate in Turkey During the past year, their goal was to obtain Turkish citizenship, and therefore you should look for a property that matches the conditions for obtaining it.
Second: You have to determine the available budget:
One of the important steps that must be bought or done when buying real estate in Turkey is to monitor the material budget available to you and you must check whether it is really sufficient to cover the expenses of real estate ownership or not or you will have to borrow.
Third: Using a real estate company:
It is necessary to seek help from one of the famous real estate companies in Turkey, starting from its experience and study of all dimensions of the real estate market, it can provide its customers with the best available and distinctive opportunities.
Also, among the steps that you should take are field tours within the real estate market in Turkey to see the available specifications, models, many options, and prices as well.
Fourth: Avoid real estate fraud:
When you start the process of buying a property in Turkey, you must be aware of all the small details that occur during this process, because it is possible for any detail to give you a signal that you are a victim of real estate fraud, God forbid, and through these signals you can distinguish between the fraudster and his doubtful property and the good person and his impeccable advertisement, and among these points and signs that you should pay attention to:
- The price of the property is lower than its real price
- Refusal to inspect the property from the owner of the advertisement
- Claiming that the landlord is outside the country
- Urgency to request a material advance, whether small or large
- The real estate agent is not officially authorized to work
Avoid real estate fraud in Turkey through:
- Insist on inspecting and inspecting the property in all its details
- Not to succumb to claims to pay material advances before making sure that everything is legal
- Not signing any contract between you and the seller before inspecting the property
- Verify the identity of the person you are dealing with
- Make sure that the real estate agent is officially authorized to work
- Keep your personal information and do not give it to anyone, and this information includes: personal documents, bank information, your financial means.
- Search for properties for sale by reliable real estate companies
When you decide to invest in Turkey, there are many privileges that you may get, the lowest of which is exemption from taxes or reduction, and the highest is obtaining Turkish citizenship within only 90 days, but due to the great diversity of the cultural and real estate map in Turkey, you may fall victim to one of the real estate fraudsters, and so that you are not in this location, you can communicate with the Mersat real estate team to benefit from many of the services provided by the team, from our free services " Property Appraisal"Any property you want to buy, you can send its details to our team and they estimate the price for you, and one of the competencies of our professional team is to choose the best investment opportunities with feasible financial returns, manage investments, supervise buying and selling, and provide all legal advice to our customers to reach the best result, and obtain Turkish citizenship and conduct transactions for real estate residence.
Edit By Mersat Real Estate Team ©
Tags
Buying Property in Turkey | Real Estate in Turkey | Property Turkey | Property in Turkey | Buying an Apartment in Turkey | Real Estate Ownership in Turkey | Buying a House in Turkey | Conditions for Buying a House in Turkey | Foreign Ownership in Turkey | Buying Property in Turkey | Problems of Buying Property in Turkey | Buying Property in Istanbul | Real Estate in Turkey | Buying Property in Turkey | Buying an Apartment in Turkey | Buying a House in Turkey | Ownership Law in Turkey | Owning a Property in Turkey | Buying a Property In Turkey for Foreigners | Property Turkey | Property in Turkey | Own a property in Turkey | Own in Turkey | Buy Land in Trabzon | Turkish citizenship
Real estate Articles
Real estate News
