Details of buying a property in Turkey for foreigners

Created: 2022-04-27
Last Updated: 2024-04-23
Views: 1817

Content Index

Do foreigners have the right to buy a property in Turkey?
Some restrictions on foreign ownership of real estate:
The most prominent documents for real estate ownership in Turkey:
How to buy a property in Turkey?
Costs of buying real estate in Turkey:
What you should pay attention to when buying a property in Turkey:
Foreigners’ ownership of real estate in Turkey can be revoked:

With the many privileges offered by the Turkish government to real estate owners in Turkey, the demand for buying real estate in that country has increased significantly, and there are many questions about this issue.

If you would like to know some important details about buying real estate in Turkey, we at Ramzy Real Estate have chosen to talk about it in the following article.

We wish you an enjoyable and useful reading, and we hope to answer all your questions.

Do foreigners have the right to buy a property in Turkey?

Law No. 35 of Land Registration Law No. 2644, as amended by Law No. 6302, which took effect on May 18, 2012, is the legal basis for real estate investment in Turkey, which allows foreigners to own real estate in Turkey.

But did this decision allow all foreigners to own property in Turkey without exception? Certainly not, as there are five nationalities prohibited from owning real estate - Cuba - Armenia - Syria - North Korea - Greek Cyprus).

What should be noted here is that a foreigner has the right to purchase any type of real estate without any restrictions, whether it is residential - commercial - tourist - agricultural - industrial.

Some restrictions on foreign ownership of real estate:

Despite all the facilities that have been provided, there are some controls stipulated in the constitution and they are as follows.

1 - A foreigner is not entitled to buy a property located within a security or military zone.

2 - He must obtain a security approval to confirm that the property is located within a military area.

3 - He cannot own more than thirty hectares in different parts of the country.

4 - If the property of foreigners in an area exceeds ten percent of its total area, the Land Registry Directorate stops granting licenses.

The most prominent documents for real estate ownership in Turkey:

- The tax number can be extracted from the tax department in Turkey easily.

- Real estate valuation report (determines the value of the property and adjusts prices).

- The buyer's passport + a copy of it translated into the Turkish language and certified by the notary public.

- Personal Photos.

- Earthquake insurance policy.

How to buy a property in Turkey?

Among the facilities offered by Turkey to foreigners wishing to buy real estate on its land is that it gave them many options to buy real estate.

The first method: buying through cash payment, when the price of the property is available to you and saved for it at an earlier time.

The second method: by taking a loan from a bank in Turkey, and the bank will place a mortgage sign on the property until the full price is paid.

The third method: buying a property in installments, directly from the construction company. The sales contract is signed between the two parties, and then the first payment is paid, which is usually 35% to 50% of its total value.

Costs of buying real estate in Turkey:

Before you start searching for real estate for sale in Turkey, you should know all the information and details related to this topic, most notably the costs and taxes.

1 - The cost of extracting the title deed of the property, which is 4% of the total value, to be paid equally by the buyer and seller.

*Important note: Sometimes the foreigner pays it in full.

2 - Issuance of a real estate appraisal document, which amounts to a maximum of two hundred US dollars.

3 - Earthquake insurance policy.

4 - Real estate broker's commission.

What you should pay attention to when buying a property in Turkey:

There is a set of important tips and notes that we are keen to provide and provide to our clients so that they are not a victim of fraud or lose their money as a result of their lack of experience and knowledge in the field of real estate, the most important of which is.

First: After you have liked a property before you sign the contract of sale, you must investigate its legal status, as there may be some problems associated with it, such as mortgage or real estate seizure.

Second: Beware of dealing with an unreliable or a non famous real estate broker, so that you do not face financial losses that you are not aware of.

Third: You have to make real estate tours and visit the most important real estate projects available and look at their features, specifications and prices to choose what suits you and matches your financial budget.

Fourth: Determine the goal that you hope to achieve from the property so that your search is not random. Do you want housing? Real Estate Investment? Obtaining Turkish citizenship?

Fifth: Is your financial balance sufficient to cover all purchase costs, or will you have to borrow? You should pay attention to this aspect so as not to be surprised by expenses that were not included in your accounts.

Sixth: Make sure that the information mentioned in the title deed about the property is available on the ground.

Seventh: Verify the identity of the real property owner by returning to the Land Registry Directorate or through the title deed in order to avoid becoming a victim of fraud and deception.

Foreigners’ ownership of real estate in Turkey can be revoked:

Did you know that it is possible that foreigners’ ownership of the properties they own in Turkey will be revoked in some cases, namely:

1 - The contract will be canceled if the purpose for which you purchased the property is violated (for example, if you purchased it for housing and residence and then used it for investment and business).

2 - It is also canceled if the property was purchased using illegal or devious methods.

3 - In the event that the period specified for starting the project has expired and its implementation has not been initiated.

If you have any inquiry or question about the topic of foreigners buying real estate in Turkey, you can contact us to communicate with the real estate experts and consultants in our company to provide you with the help and advice you need to buy your property safely and in thoughtful steps.

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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