Yes, foreigners have the right to own property in Turkey, the law 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
Foreign nationals must belong to those countries that Turkey clears for property acquisition. You can't acquire properties in Security Zones and Military Forbidden Zones. You're only allowed to acquire a maximum of 30 hectares.
Foreigners are also prohibited from buying real estate in some areas, such as lands that are strategically important in terms of energy, agriculture, mining, history, cultural values, biological plants and national security.
Yes, of course. All the prices and conditions are same for foreigner and Turks.
Citizens of just about every country in the world can buy property in Turkey. That includes buyers from the United Kingdom, Europe, the US and the Middle East. In fact, buying property in Turkey is out of bounds for the citizens of just five countries: Syria, Armenia, North Korea, Nigeria and Cuba.
The purchase of the property does not need to obtain a residence permit in Turkey. However, by purchasing a residential property over 75,000 USD (Special Conditions Applies) you can apply for Residency permit.
Foreign citizens by purchasing a residential property over 75,000 USD (Special Conditions Applies) can obtain a residence permit for a period of 1 year and have the opportunity to renew it as long as you own the property.
The value of the registration tax and the transfer of ownership of the property is 4% of the property purchasing price. Paid only once by the buyer after the completion of the purchase and paid to the Turkish state. In addition, 15% to 35% of the net profits goes to the tax authority also if the property is sold before 5yrs of the date of purchase.
The title deed of real estate in Turkey is called “tapu” and all real estate transactions for foreigners are carried out only through the Land Registry Directorate of the relevant area in which the property is located.
Ownership in Turkey is for life-time ownership and not as is the case in some countries where ownership is for a period of 99 years, and foreigners have the right to inherit the property for their families and register the heirs’ file in the housing department in the city in which the property is located and the inheritance system is according to the applicable law.
For many countries, the number is not specified, and also more than one person can share in the same property.
1 - Turkey’s strategic location: Turkey is located on the connecting road between Europe and the Middle East, and thus it has attracted European and Arab investors to invest in real estate on its territory.
2 - Facilities provided by the Turkish government: This is through the laws and legislation, such as the law abolishing the principle of reciprocity in 2012, which was considered a turning point in the Turkish real estate sector. Turkish laws are also characterized by flexibility, simplicity and without complications.
3 - Turkish citizenship law: The government approved a law allowing those who owned one or several properties 400.000 $ to apply for Turkish citizenship.
4 - The fertile investment environment: The Turkish government is urging the creation of fertile investment grounds, such as the construction of the Istanbul Canal, the Istanbul Airport project, metro networks and lines, transportation, public squares, botanical gardens, hospitals, and much more in all major cities such as Izmir, Antalya and Bodrum, Also Izmir municipality has amazing development plan which has started and will be over by year 2030.
5 - The low value of taxes in Turkey compared to others. Taxes in Turkey are relatively low, as the annual real estate tax ranges between 1 – 2 per thousand in Turkey.
6 - Real estate investment was positively affected by the fluctuations of the Turkish lira exchange rate: The lower the value of the Turkish lira, the higher the value of the property.
7 - Real estate investment is the most appropriate solution to avoid inflation problems: It is worth noting that buying real estate is safer and more secure than buying foreign currencies, as the lower the currency’s value, the higher the property’s value.
8- The 2022 Europe Prize – the highest level of the Prize which is awarded each year by the Parliamentary Assembly of the Council of Europe (PACE) to the town most active in promoting the European ideal – has been awarded to İzmir in Turkey. Izmir received the reward for the values advocated by the European Union, namely freedom, equality, the rule of law, human dignity and rights.
Yes. The tax system is the same for everyone. Taxes must be paid to the Turkish government when completing the purchase.
Real estate prices vary according to the region in which you want to buy a property, and there is no minimum or maximum requirement for buying real estate in Turkey. However, for Residency 75.000 $ and for Citizenship 400.000 $ min investment is required.
Yes, it is possible, based on the Turkish law regarding foreign ownership; Any two or more persons who do not have any family relationship have the right to share the same property, and the title deed of the property is registered in the name of all persons. However, for residency its not possible two families apply on one property and for Citizenship program each family need to invest min of 400.000 $ to be able to apply for citizenship program (for example two families can apply for citizenship if they purchase the property worth min of 800.000 $.)
Yes, the owner has the right to do so, as for the tax, it is varying depends on the rental income which the property owner in Turkey needs to pay to the Department of Finance, and this tax is forfeited if the property owner wants to obtain the monthly return in cash, not through the bank.
Yes, foreigners can inherit real estate in Turkey, as Turkish law allows foreigners in Turkey to own real estate of all kinds, such as lands, apartments, villas, offices, etc. Ownership of real estate in Turkey from the owner after his death.
The Turkish government gives a period of 10 years to review the heir in Turkey, and in the event of review and confirmation of this, the taboo will be transferred in his name without any complications. But in the event that the 10-year period is spent and no one has ever come forward, the Turkish government will issue the Turkish endowment.
A family statement from the Civil Affairs Department in his country (inheritance inventory) showing who the heirs are and the quality of kinship, certified and translated into Turkish
Registration in the tax register in Turkey and obtaining tax numbers for all heirs
A valid passport for six months, at least, and translated into Turkish
2 personal photos for each person
It is the same purchase costs estimated at 4 percent of the inheritance value, in addition to the fees and fees of the lawyer.
It is a tax imposed by the Turkish state when the ownership is transferred from the deceased to the ownership of his immediate relatives, and the value of this tax is relatively low compared to the taxes of the European Union countries, which encouraged foreigners to search and buy real estate inside Turkey to save their money and dues in the future.
The value of the inheritance tax is estimated according to the value of the property, as the value of the tax is calculated depending on the price of the property, but the value generally ranges from 1% to 10% only, and according to Turkish law, the payment of this tax due is within a maximum period of three years, and is paid in the months of May and November of each year.
Important to note that the tax depends on two types of properties and each of them has a certain value. There are properties that the investor acquired after putting his money in it or inheriting it from a relative, and there are properties that were transferred to the owner without return, such as gifts, prizes, donations, etc.
All the data written in the title deed (Tapu) of the property is in Turkish, as there is no other official language approved in the Turkish Republic. Upon delivery of the bond, some important points are translated to the foreign buyer by a sworn translator at the Land Department and Cadastre in the city in which the purchase was made in Turkey.
Yes, it is available in many projects that give an opportunity to buy in installments, without any bank guarantees.
Yes, the owner of the property has the right to sell his property whenever he wants, and he can sell his property to a Turkish citizen or another foreigner. There is no tax payable by the seller at the time.
After completing all official transactions and receiving the property title deed from the Land Department and Land Registry in the city in which the purchase was made in Turkey, it is possible to apply for a real estate residence permit for all family members (meaning family members here: father, mother, wife or husband and children from different Ages). Please take note, to apply for residency you need to invest min of 75.000 $ (Certain criteria Applies). The Public Security Directorate in the same city has a requirement that all people come to Turkey in person when applying. This permit authorizes the property owner to live and move in Turkey and enter and exit Turkey. With this residence permit, he can open a company in Turkey and learn the Turkish language in a language school. As for practicing a certain profession under the framework of obtaining a job in the private sector, it is necessary to review the Ministry of Labor in the capital. Ankara to obtain a work permit.
Yes. Your company can own real estate in Turkey if your country has a reciprocal agreement between Turkey.
Yes, unless it is near security or military areas, or the percentage of ownership by foreigners has been met.
The property can be sold at any time, and it is best to coordinate with one of the real estate services offices or find a buyer for the property.
You must easily visit the gas, water and electricity companies to register the meters in your name and pay a nominal security amount, and we can also help you through the property management service.
Each of these properties has its own benefits , but if we talk about it in general , depends on your plan you can decide which type of property you would be able to invest in , ready to move in properties is suitable for residency and rental income but less growth in term of property value added, as for under-construction options , you might be able to enjoy the payment plan which some of developers provide and much as huge increase in term of property value added which is way more than rental income.
Depending on the project that you purchased from, you can sell your property during the construction phase. However is advisable that if you invest in the under-construction project , wait till the project is finish and take the advantage of the maximum value added to the price of the property.
Each housing complex has an administrative committee of the construction company (the developer) specialized in management and operation matters. If the size of the complex is very large, a highly experienced administrative company is called in and is completely independent of the construction company to carry out these tasks and the goal of the administrative company is to provide the necessary amenities and services for the population such as: protecting the population and property, maintaining the cleanliness of the complex, Carrying out maintenance affairs for apartments in Turkey and buildings in general, bringing monthly fees from the residents, caring for gardens and swimming pools, handling problems that may occur in the complex, carrying out rental and reselling services for apartments, organizing entertainment programs on an ongoing basis, etc.
As for the monthly fees, they are determined. Depending on the size of the total apartment. It is possible to pay these fees once every year in advance, and it is worth noting here that if the apartment is rented, the tenant bears all of these fees.
After the disaster of the 1999 earthquake that struck the city of “Kocaeli” located in the Marmara region near Istanbul, the Turkish state suffered heavy losses in life, so the state worked to lay new foundations and methods for construction in Turkey, until an amendment decision was issued by the Turkish Ministry of Labor and Works In 2007 to impose new standards on building permits in order to avoid a similar catastrophe in the future, and the city of Istanbul has so far come a long way in this regard as today all construction companies adhere to these new proposals related to geological studies and other field applications known as “TS 500” and “Deprem Yönetmeliği”. This decision also obligates old buildings to repair and strengthen the pillars and foundations.
Yes, there are limited annual taxes on residential real estate
After preparing the documents, all necessary information is sent to the title deeds office.
Usually, foreigners complete the title deed transfer process in about 3 to 5 days, due to money transfer from foreign accounts.
Yes you can buy and register the title deed (Tapu) on your children’s name.
Yes, any person can open easily a bank account in different currencies in Turkey.
An invoice from the country you live permanently which shows your address. It may be an electric, water, gas, phone invoice.
A Turkish tax number given by the Turkish tax Office. (We do help to obtain it)
A copy of your passport.
The Bank system is very developed in Turkey. You can have internet banking and debit card. You can subscribe electricity, water, internet, mobile phone or any invoice to your debit account.
