Common questions about the terms of real estate investment in Istanbul

Created: 2022-05-18
Last Updated: 2024-04-20
Views: 1303

Content Index

Why investors buy real estate in Turkey:
Are there nationalities that are not allowed to invest or own property for the purpose of investment?
Are there certain conditions for real estate investment in Istanbul?
Is the foreign investor get the same treatment like the Turkish investor?
Does the foreign investor pay the same taxes as the Turkish investor?

Real estate investment is one of the most active investment sectors in Turkey, and one of the best investments among other types of investment such as import and export, food industries and agricultural investment, especially after the constantly rising of the real estate market and the constantly rising of real estate prices in Turkey, and according to supply and demand theory and with the increasing demand for buying real estate in Turkey, especially Istanbul, This reflected in a significant increase in real estate prices than it was two years ago, and with the increase in the demand for real estate purchases in Turkey by foreigners, the state has recently raised the minimum value for property ownership for those who want to obtain real estate residence or Turkish citizenship.

There are several common questions that investors constantly ask the real estate consultant about real estate investment in Istanbul. In this article, we will replay at the most important and most common questions about real estate investment and its conditions:

Why investors buy real estate in Turkey:

Real estate investment is profitable and has an increasing return in the long term, especially for those looking for a long-term investment, and it has the ability to provide a profitable return, whether in the short or long term.
Ease the process of real estate purchasing for investors and foreigners, as the Turkish government did not place restrictions at the purchase of real estate for the foreigner, but through a photo of the passport and the issuing a tax number. You can buy a property without been asked for the source of the money as some countries do.
Real estate prices in Turkey are cheap compared to other European cities, as you can get an apartment with an amazing view at a lower price than other European cities.
Turkish government's interest in real estate investment and pumping investments in the field of construction.
Diversity of types of houses in Turkey, as the real estate market in Turkey includes plenty of options that suit all tastes and social classes, thus ensuring that you will find what fits you.
Obtaining Turkish citizenship, especially after the Turkish government in 2018 modified the investment laws to obtain citizenship, including investing in real estate, so that everyone who buys a property worth 250 thousand dollars after it was one million dollars, but in May 2022 the state raised the value of citizenship to become 400 thousand dollars and therefore real estate investment, in Turkey in general and in Istanbul in particular, is considered one of the most successful investments.
Turkey has a huge investment portfolio. Over the past decade, Turkey has been able to have a strong reputation in real estate market and which has led to the strengthening of the real estate portfolio in Turkey.

Are there nationalities that are not allowed to invest or own property for the purpose of investment?

All nationalities are allowed to own real estate, whether the purpose of ownership is housing or investment, and Turkey is among the investment countries that offer many facilities to foreign investors wishing to own real estate in Turkey such as issuing real estate residence permits, and tax exemptions, to granting them Turkish citizenship on specific conditions, except for Four nationalities: Cuba, North Korea, Armenia and Syria. The Syrians are required to establish a company and then buy a property in the name of the that company.

Are there certain conditions for real estate investment in Istanbul?

• The real estate should get the official title deed (Tapu Mulkiyat).

• Choose the city according to the purpose of purchasing, whether it is housing or investment.

• There is a specific percentage of foreign ownership of real estate in the city, provided that the total real estate area does not exceed 30 hectares in all parts of Turkey in general, and also that does not exceed 10% in the same area.

• The property must not be located in military or security areas, according to Turkish law that prohibit the sale of real estate to foreigners.

• Availability of legal procedures for the investor that authorize him to own the property.

• Check out the condition of the property, whether it is old or new and the construction year of the property.

• The property should not be mortgaged or subject to procedures preventing its sale.

• Ensure that the property owner has the right to dispose of his property or not.

• Taking sufficient information from the directorates of real estate records before signing any contracts with legal obligations, and before paying the price.

• The investor’s nationality should be one of the countries that are allowed to own property (all nationalities are allowed except for the nationalities that mentioned before).

• Stateless persons are not allowed to own real estate in Turkey, such as the Bidoon from Kuwait.

• A proof of nationality must be submitted for nationals who hold passports that do not mention the nationality of the citizen as the Yemeni passport.

Is the foreign investor get the same treatment like the Turkish investor?

There is no difference in treatment between a foreign investor and a Turkish investor before Turkish law, as both are equal in terms of obligations, duties and rights.

Foreign investors in the real estate sector in Turkey have the opportunity to obtain Turkish citizenship, through the law of obtaining Turkish citizenship to foreign investors, which provides for the granting of Turkish citizenship to the foreigner who buys a property or several properties in Turkey worth 400 thousand dollars.

Does the foreign investor pay the same taxes as the Turkish investor?

All investors are equal in front of Turkish law in terms of the value and rates of taxes, whether the investor is a foreigner or a Turkish citizen, and the percentage of these taxes is determined annually by the Turkish government, and the foreign investor is treated according to Turkish law like the local investor in the rates of exemptions, and discounts on taxes.

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.

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