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Are there any conditions for buying property in Istanbul by foreigners

Are there any conditions for buying property in Istanbul by foreigners

First: Restrictions on owning real estate in Istanbul by foreigners:


Although the suspension of the principle of reciprocity, according to which it became permissible for foreign investors to buy real estate in Istanbul, this did not mean giving them absolute freedom when it comes to buying a property in Istanbul, as there are a set of conditions that are still They must abide by:


* Property area in Istanbul:


There are restrictions imposed on foreigners wishing to buy a property in Istanbul when it comes to the area of ​​this property in Istanbul, as the area of ​​real estate in Istanbul that is owned by each foreigner separately should not exceed thirty hectares.


* Space of ​​the administrative area:


It is also required when foreign investors buy Istanbul real estate that the area of ​​these real estate in Istanbul owned by the foreigner within the boundaries of the administrative region does not exceed ten percent of the total area of ​​the administrative region to which these real estate belong in Istanbul.


* Necessity to obtain security approvals:


Any foreign investor who wants to buy a property in Istanbul or buy property in Turkey, whoever it is, must obtain the security and military approval from the competent military authorities in the area to which the property he wishes to purchase belongs.


Secondly: Procedures for transferring property ownership in Istanbul:


Fortunately for foreign investors, although there were some restrictions on the process of owning real estate in Istanbul before them, the procedures for transferring ownership of real estate in Istanbul are very easy and easy, and all that is required is for the foreign investor to follow a few specific steps as follows:


* Submission of the application :


The owner of the property in Istanbul must book an appointment at the Directorate of Land Registry in order to complete the entire procedures for the transfer of ownership of the property in Istanbul, and the initial appointment can be booked electronically before 12 noon in order to obtain a number Sequential and the appointment is booked by visiting the website of the Land Registry Directorate.


* Agency concluded outside the Republic of Turkey:


Such an agency can be concluded in the consulates and embassies of the Republic of Turkey or through an agency concluded with the notary public in the country of the foreign investor and in the official language used in that country, provided that this agency includes a personal photo of its owner


* Expenses for transferring ownership of the property in Istanbul:


One of the conditions to be followed is that the value of the property in the title deed shall not be less than the value that has been determined in the real estate value rate report in Istanbul, and the fees for the title deed procedures or the title deed in Istanbul must be paid, which is estimated to be two percent of the value of the property in Istanbul registered in the tabu.


Third: Notes to pay attention to when buying real estate in Istanbul by foreign investors:


* Before a foreign investor buys property in Istanbul, he must review the Directorate of Land Registry in order to ensure that this property in Istanbul is legally sound and free from any legal problems such as loans, seizure or inheritance problems .
* If the foreign investor cannot get an appointment to complete the procedures for transferring ownership of the property in Istanbul, he can make a direct visit to the Land Registry Directorate.

 

At Ramzy Real Estate Company, we are glad to accompany you on the journey of buying property in Turkey and to provide you with a range of services to make the process smooth and easy , as we are always keen to present a variety of options for residential and investment properties in addition to helping you obtain Turkish citizenship for those looking for it.
Our services:
- Legal advice .
- Property Management.
- After-sales services .
- Legal services and obtaining Turkish citizenship.
- Buying and selling real estate in Turkey.
- For more details, you can contact us via the communication platforms or via the WhatsApp attached on the site.

 

Editing by Ramzy Real Estate Team ©

 

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