Limits and laws of foreign ownership of real estate in Turkey
Turkey is considered one of the most attractive tourist and investment destinations for foreigners around the world, as it enjoys a rich history and cultural heritage, in addition to its economic development and technological progress, and among the attractive things for foreign investors is the ownership of real estate in Turkey, either for residence or for investment.
However, this process is subject to some restrictions and laws that must be strictly adhered to and this aims to protect the national economy and preserve the rights of Turkish citizens, so we will take a look at the limits and laws of foreign ownership of real estate in Turkey.
Reasons for foreign ownership of real estate in Turkey:
1. Turkey is located in a strategic location between the continents of Asia and Europe.
2. Turkey contains a rich cultural heritage dating back to many ancient civilizations.
3. Turkey has an active real estate market that offers various investment opportunities.
4. Turkey is investing heavily in developing its infrastructure.
5. Turkey includes many cities and regions to suit all tastes.
6. Investors can obtain residence permits to buy real estate in Turkey.
7. Investors can obtain Turkish citizenship when purchasing a property of a specified value.
8. Real estate in Turkey is a popular way to invest and achieve a high return.
9. Turkey offers a low cost of living compared to many European countries.
10. Turkey has an active and diversified economy that promotes job and investment opportunities.
11. Turkey is a popular tourist destination and has a developed tourism infrastructure.
12. It enjoys political stability and security.
13. Turkey has beautiful beaches and stunning coastlines.
14. Enjoy an amazing natural diversity of mountains, lakes and valleys.
15. It has a diverse community of different cultures and ethnicities.
16. It hosts many important historical and archaeological sites.
17. It includes a variety of restaurants, cafes and entertainment centers.
18. It has an advanced healthcare system and top-class medical facilities.
19. It includes beautiful landscapes and tourist resorts.
20. Turkey is famous for its warm and welcoming Turkish hospitality.
21. Turkey provides a wide range of recreational facilities for families.
22. It contains ancient universities and distinguished educational institutions.
23. It has a developed transportation network that facilitates movement within the city and between cities.
24. It includes traditional markets full of handicrafts and popular goods.
25. Turkey offers many opportunities to practice various sports and recreational activities.
26. Compared to some European countries, real estate in Türkiye offers good value for money.
27. Turkey enjoys mild weather and sun all year round.
28. Turkey gives the buyer the opportunity to realize dreams and enjoy the quality of life.
Conditions for foreign ownership of real estate in Turkey :
1. The area of real estate owned by a foreigner in Turkey should not exceed 30 hectares.
2. 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 region
3. Security and military approval must be obtained from the competent military authorities in the area where the property is located.
4. The investor's age should not be less than 18 years
5. The criminal record is free of any previous crimes
6. In the event that your goal is to obtain Turkish citizenship by buying a property in Turkey, the value of the property must be 400 thousand US dollars
7. If you want to obtain real estate residence in Turkey, the value of the property must be 75 thousand US dollars
Procedures for foreign ownership of real estate in Turkey:
1. The foreign investor must choose the property that suits his needs and budget, in terms of location, price and view, as there are many attractive and diverse options available in Turkey.
2. Ensure the validity and accuracy of the information related to the property, such as the title deed, the location statement that displays the location of the property in the municipality plan, and the property number according to the municipality plan, and ensure that there are no restrictions that impede the sale of the property such as mortgage, attachment, or inheritance issues.
3. The foreign investor must obtain the tax number in Turkey before ownership, which is necessary to conduct any tax or financial transactions in the country.
4. Translating his passport into Turkish by a sworn translator registered with the Translators Syndicate, and attesting the passport at the notary public and the Contract of Obligation to Sell shall also be translated into English and Turkish.
5. Review the Land Registry Department within 15 days of issuance of approval and it is preferable to have a sworn translator to ensure the correctness of the data, property number and area.
Documents required for foreign ownership of real estate in Türkiye:
1. Obtaining a tax number for free from the nearest department of the Tax Directorate in Turkey.
2. The passport must be translated into Turkish and legalized by the Turkish Notary.
3. It is necessary to obtain a real estate appraisal report for the property you wish to purchase.
4. The property purchase contract must be documented by the Turkish Notary.
5. If the value of the property was paid in foreign currency, a receipt stating this must be obtained.
6. A receipt indicating the transfer of the value of the property in Turkish lira to the seller's account must be obtained.
What nationalities are not entitled to own real estate in Turkey?
Syrian citizenship
Armenian citizenship
North Korean citizenship
Cuban citizenship
Cypriot citizenship
Common questions:
Are foreigners allowed to own any kind of real estate in Turkey?
Yes, foreigners are allowed to own all types of real estate in Turkey, including houses, apartments, shops, commercial offices, and lands.
Are there limits to the area of real estate that foreigners can own in Turkey?
Yes, the area of property that foreigners can own should not exceed 30 hectares.
Are there limits to the percentage of real estate space within an administrative area that foreigners can own?
Yes, real estate that foreigners can own within the borders of the administrative region should not exceed 10% of its total area.
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