Turkey, which is increasing in value day by day with the investments made, has become one of the most popular regions for both holidaymakers and businessmen. Whether or not they can buy a property in Turkey is one of the most frequently asked questions by those who decide to go to Turkey for business, investment or vacation. According to the regulation of the Republic of Turkey in 2012, citizens from almost every country in the world can buy real estate in Turkey.

CITIZEN OF THE COUNTRY WHO CAN BUY REAL ESTATE IN TURKEY

Foreigners considering buying real estate in Turkey check whether their own country allows them to buy real estate in Turkey. According to the laws of the Republic of Turkey; Citizens of all countries can buy property in Turkey except for citizens of 5 countries. Syria, North Korea, South Cyprus, Armenia and Cuba are among the countries where the Republic of Turkey does not allow the purchase of real estate. Except for these 5 countries, all citizens can own property in Turkey by paying their dues. There are no obstacles for these citizens to buy real estate in Turkey.

The Republic of Turkey also does not apply the principle of reciprocity when purchasing real estate. In other words, even if Turkish citizens cannot buy apartments in these countries, citizens of these countries can buy real estate such as apartments, jobs and land in Turkey. This situation also whets the appetites of individuals and institutions looking to invest in Turkey.

DOCUMENTS REQUIRED FOR TRANSFER OF OWNERSHIP

There are also some documents that people considering buying a property in Turkey need to prepare. Title deed transfer procedures in Turkey are carried out at the title deed offices. Documents required for the transfer of ownership include:

– The appraisal report prepared by CMB licensed property appraisal companies within the last 3 months is among the documents required for the title deed transfer.

– Passport or ID card of the buyer and seller is required during the transfer of the deed.

– The title deed of the property to be transferred will be requested during the deed transfer.

– Mandatory Building Earthquake Insurance is required for buildings to which title deeds are transferred.

– The certificate of value of the real estate declaration of the property from the competent municipality is among the documents that are requested during the transfer of the title deed.

– A passport photo of both the seller and the buyer is required during the title deed transfer process, taken within the last 6 months.

– Sworn translators are required for document sales and purchases for those who do not speak Turkish.

– If the transaction is conducted through an agent, the power of attorney is required in the purchase and sale of title deeds.

CITIZENSHIP BY PURCHASING PROPERTY IN TURKEY

The Ordinance Amending the Ordinance Implementing Turkey's Citizenship Law, published in 2018, reduced the real estate costs required to become a citizen of the Republic of Turkey. The requirement to purchase real estate, which was previously worth $1 million, has been reduced to $250,000 with this change. This situation created an opportunity for people who wish to become citizens of the Republic of Turkey by buying a property. Thus, foreigners who bought real estate such as jobs, apartments, and land for $250,000 were eligible to obtain citizenship of the Republic of Turkey. The buyer's spouses and children also benefited from citizenship of the Republic of Turkey.

Acquiring Turkish citizenship by paying $250,000 has also activated the real estate market. Individuals who wish to obtain citizenship of Turkey took advantage of the amendment of this regulation and became citizens of the Republic of Turkey with their families.

With the draft prepared, the sale of real estate purchased by persons who wish to become citizens of the Republic of Turkey by paying USD 250,000 is prohibited for 3 years. If these people sell the purchased properties within 3 years, their citizenship will be revoked. For this reason, it is important that people who are considering buying real estate to become a citizen of the Republic of Turkey do not sell this real estate for 3 years.

Individuals wishing to obtain citizenship of the Republic of Turkey can also purchase multiple properties with a total sale price of $250,000. The fact that all properties purchased belong to the same person paves the way for that person to obtain citizenship of the Republic of Turkey.

CITIZEN OF THE COUNTRY WHO BUY THE MOST APARTMENTS IN TURKEY

According to the Turkish Statistical Institute, 40,812 houses were sold in Turkey in 2020. Istanbul, Antalya, Ankara and Bursa were recorded as the cities where foreigners bought the most apartments. 19,000 in Istanbul, 7,000 in Antalya, 3,000 in Ankara and 1,000 in Bursa were sold.

The citizens of the countries that bought the most houses in Turkey were Iranians. Iranians bought more than 7,000 houses in 2020. The Iranians were followed by Iraqis, Russians, Afghans and Azeris.

The citizens of the countries that bought the most houses in Turkey in 2020 are as follows:

Iranians: 7,189

Iraqis: 6,674

Russians: 3,078

Afghans: 1,929

Azerbaijanis: 1,279

Germans: 1,265

Kuwait: 1,231

Yemenis: 1,181

Cossacks: 1,171

British: 1,126

Frequently asked Questions:

Question: I am not a citizen of the Republic of Turkey, can I own a house in Turkey?

Answer: People considering buying real estate in the Republic of Turkey can own a house if they are not citizens of Syria, North Korea, South Cyprus, Armenia and Cuba. Unfortunately, if the person who is going to buy real estate is a citizen of this country, he cannot buy real estate in Turkey.

Question: Is it worth buying a house in Turkey?

Answer: Real estate investment in Turkey, whose welfare level is increasing day by day, is among the highly accepted and preferred studies. Investments made in Turkey make money in much less time than their counterparts. For this reason, foreigners are recommended to purchase apartments, jobs, land and similar properties in Turkey.

Question: If I buy real estate in Turkey, will I get a residence permit?

Answer: People who buy real estate in Turkey have a residence permit for 1 year. This right of residence can be renewed every year.

Question: Are there any restrictions when buying property in Turkey?

Answer: There are some restrictions on buying real estate in Turkey. Buying real estate in military zones and some rural areas is not allowed. Apart from these areas, properties from all regions can be purchased. In addition, the amount purchased by foreigners should not exceed thirty hectares. If the real estate purchased by foreigners exceeds 30 hectares, the amount exceeding 30 hectares must be liquidated. Foreigners are relieved of the following obligations when purchasing:

“The amount of independent and permanently limited rights in rem and immovables, including these immovables, acquired by me within the borders of the Republic of Turkey does not exceed thirty hectares. If the opposite is established, I accept unreservedly and undertake that the excess amount will be liquidated and converted into value.

Question: What are the costs of buying a property in Turkey?

Answer: When buying a property in Turkey, there are various costs. These costs usually correspond to 4 percent of the property value. By paying this fee, people can buy real estate, own apartments, jobs, land and similar properties in Turkey and make investments in Turkey in a short time.

Question: Are taxes paid every year after buying property in Turkey?

Answer: Real estate and environmental cleaning tax is levied on real estate purchased in Turkey. These fees vary depending on the size of the apartments but are generally low.