Buying a property/real estate in Turkey falls under Law No. 2644 of 2012, also known as the Land Register Law, which provides conditions for purchasing any property/real estate Residential, Commercial properties, Agricultural land, or any other type of field. Foreign investors seeking to buy real estate/Properties in Turkey are subject to certain restrictions. A person can get details from Turkish embassies or consulates in their home countries.
Our professional lawyer in Turkey can also offer information on the limits of buying real estate/property in Turkey. We can also help you purchase a property in Istanbul, the most important city, especially Turkey.
Finding the best property in Turkey
Turkey is a wast/large country with many areas where other nationals can purchase properties. Foreign citizens can buy a house, commercial, residential properties, or land to build Plazas and homes, while foreign
investors have many choices depending on their activities.
MUST NOTE that foreigners who want to buy real estate/property in Turkey to start construction must submit the building two (2) years before beginning the construction. The project documents will be submitted for approval with one of the Turkish ministries, depending on the building’s purpose.
Our lawyers can advise foreign citizens professionally on conducting a real estate due diligence process to ensure the property is free from debts or other technical problems, no matter if you are interested in purchasing a property in Istanbul or another city.
The two steps for purchasing real estate Or Property in Turkey mentioned above:
1. The first one is to find the best property and then carrying out the due diligence process.
2. Next, You should hire one lawyer in Turkey who can negotiate the sale-purchase contract on behalf of you. To retain a property, deposit 10% to 25% of the bank account’s actual price. Then it can sign the agreement.
A preliminary request must be filed by the old and the new owners before a new property title is issued. The last step for buying a property or real estate in Turkey is for the new owner to file a request and other documents with the Land Registry to have the property transferred and a new title deed issued.
Foreign investors who want to buy properties or real estate in Turkey are encouraged to complete the following steps to make sure you have made the right decision.
When you decide to buy real estate or property in Turkey, visit the country to choose the right location and property.
Discuss your options with an expert regarding the prices of properties.
Hire a Turkish legal lawyer to check the property for any encumbrances, particularly business land or property.
Foreigners can purchase properties distantly by giving power of attorney to a lawyer.
Foreign investors looking to buy land plots in Turkey must know that they can buy only 30 hectares of land.
Foreigners should have an insurance policy (also known as Dask insurance) before buying a property in Turkey.
When purchasing a property in Turkey, the real estate tax duty is set at 4.4% of the transaction’s total value.
Other costs related to the property’s purchase are the registration and notarization fees, representing around 1% of the trade.
The Land Register Law
WHAT YOU NEED TO KNOW
The Land Register Low Provides information about the requirements for buying land and other properties in Turkey. Legal advice can be offered by one of our Turkish Lawyers.
What can you buy in Turkey?
PROPERTIES IN TURKEY
Residential and commercial properties, plus lands, can be acquired in Turkey, as long as these are not state-owned. Those interested in construction must submit the project first.
Ask for real estate due diligence.
LEGAL ADVICE AND SUPPORT
Our lawyers in Turkey can propose real estate due diligence and verify properties you intend to buy. This way, you can find out all the hidden problems.
Verify the Prices
ONE STEP CLOSER
The price verification should also be in the property buyers’ attention to see if it aligns with the market’s value. Our team of lawyers in Turkey can provide legal advice.
Sign the Contract
BUY THE PROPERTY
Once our Turkish lawyers verify the sale-purchase contract, you can sign it and acquire the property or land you wish. We can provide complete legal advice, so talk to us at any time.
Yes, we recommended an inspection trip for foreigners who want to purchase properties in Istanbul and ensure the acquisition. Because might be this option not for foreigners from other countries, we recommend you get in touch with one of our Turkish lawyers and ask for support. One of our attorneys in Turkey, along with an experienced real estate agent, can handle this inspection trip. The examination has a preliminary status and shows any problems with the property you wish to buy.
Persons who don’t have information about the real estate/Property market in Turkey and need to ask for professional support.?
The procedure is recommended because the property is entirely verified.
The real estate due diligence is about a complete report and information of the property’s legal status and the construction licenses verified with the local authorities. If there are any debts or lawsuits involved, our attorneys in Turkey can help.
Here are brief details about the due diligence procedure for properties/ real estate in Turkey.
The complete documentation of the property can be analyzed by one of our Turkish lawyers.
Our expert Person can verify if the property is involved in any litigation?
It is also, verifying the authorizations under which the property has been built.
Any encumbrances are generally detected during due diligence.
We recommended avoiding any payment in advance and wait for the detailed report by the real estate due diligence expert.
Five things we need to must consider when we want to purchase a property in Istanbul.
Buying a property in Turkey and especially in Istanbul requires attention and legal advice from experts.
We’ve gathered five tips you should consider and pay attention to at the time you plan to buy a property in Istanbul:
Ask for advice from the beginning – If you’re a foreigner curious about buying a property in Istanbul, you should seek legal advice from a specialist rather than working on your own. They have the experience.
Choose the neighborhood – Istanbul presents many property opportunities in a wide selection of areas, so you should choose according to your needs. A specialist’s assistance is required, particularly if you’re a foreigner who doesn’t know much about the Turkish land sector.
Verify the documents – If you decided on a property to buy in Istanbul, We highly recommended analyzing the documents. Our Turkish advisors can handle this type of task in a very professional manner.
Make sure the transaction is going to be correct.
Inspect the property – If the documents are correct, it’s time to verify the property with our consultants’ help.
The risks of the properties, the facilities, the utilities, the structure enter the attention of a future landowner.
Prepare for the transaction – Our Turkish lawyers can oversee the real estate transaction for your prospective property in Istanbul.
We remind you that each one of the documents is verified by our team before you sign them.
Especially buying a property in Turkey, NO NEED TO TRAVEL. We are an experienced team in this field, and we can represent you with a power of attorney in Turkey’s real estate sector.
We represented many clients interested in purchasing commercial and residential properties or Land in Istanbul or Turkey.
Our team of specialists can entirely handle all the formalities for buying a property in Turkey for you.
If you would like, Once the documents are prepared, you can travel to Turkey and also inspect the property.
We can verify the property and all the documents.
We can inspect a real estate due diligence.
We can prepare the Buying-Selling contract.
We can validate that the property is correctly registered or not.
We can closely work with the municipalities in Turkey.
There are many reasons to give attention when you are going to buying a property in Turkey; at this time, our team of legal advisors can help.
For full information on the documents required to purchase a property or real estate in Turkey, do not hesitate to contact our law firm in Turkey.
In the First Year, every foreigner can get a Turkish Residence Permit for one year. For the renewal, you depend on the new law. If you buy property, you can easily renew your Turkish Residence Card with Tapu until you sell your property.
We are pleased to offer our foreign clients our assistance to obtain Turkish Citizenship by investment in 2021.
In 2019 amended Turkish Citizenship and Turkish immigration law, The Regulation of Application of Turkish Citizenship Code.
With the new law, foreigners who are satisfied with at least one of the below-mentioned investment options will be able to get Turkish Citizenship (TC) in the year 2021 for themselves and for their families.
The Turkish government has been reduced from USD-1 Million to USD-250k. You can invest in USD or the equal value in Turkish Lira.
Number One Option you should purchase property or real estate minimum for USD-250k. With the condition to not sell the investment property within the next three years.
Number Two Option requires a deposit of USD-500k in cash (or the equal value in Turkish Lira) for at least three years in any Turkish Bank.
Number Three Option requires a fixed capital investment to make a minimum of USD-500k USD (or the Turkish Lira) equal value. The Ministry of Industry and Technology shall confirm this investment.
Number Four Option Purchase government Award bonds and bills on the condition to hold them for three (3) years, and this investment shall be confirmed by the Turkish Ministry of Treasury and Finance.
Number Five Option investment in trust, or buy shares of the venture capital investment funds with the minimum amount of USD-500k.
With the investment mentioned above options consistent with your choice, you can obtain TURKISH Citizenship for yourself and your family members, your wife, and below 18 years old (18 years old included).
Yes – all properties we are selling in Turkey are “freehold.”
Indeed, any outsider organizations can own properties in Turkey if their country has signed a reciprocal agreement with Turkey. Turkey Realty Group can help you quickly with this complicated process. We have already experienced this situation several times.
If you are buying a property on a new project, the project’s developer will set the price.
Agent commissions will not include. You should still pay the same fee, with whoever you will buy through, whether you go direct or through a third party.
To live permanently in Turkey, the initial means you must get a permanent residency in Turkey. There are many ways to get it, and owning a property is one in all of them. … the primary permanent residence is issued for one year, which can permit you to stay within the country with no issues
Yes, Foreigners can sell property in turkey. They can work with real estate companies or can start their own real estate company. Waiters, jewelry, and leather dealers are the most well-known property sellers in touristic regions of Turkey.
Registered and licensed real estate agents are eligible to receive a 3% service fee over the property’s actual sales price from the buyer and the owner separately.
Experiencing through an established company like Samads Group has favorable advantages:
First, you will see a wide range of properties that match your standards and not an only specific developer;
second: you will have the benefit of our experience, just as an utterly staffed office to help you back home safely.
Out of 195 countries, only five citizens cannot purchase and own Turkish land. They include Syria, Armenia, North Korea, Cuba, and Nigeria.
For getting a Citizenship buying a house program in Turkey, foreign nationals are free to buy property anywhere in Turkey except military zones. The terms of Citizenship for foreigners who purchase a house in Turkey will be 250 thousand Dollars.
Out of 195 countries, only five citizens cannot purchase and own Turkish land. They include Syria, Armenia, North Korea, Cuba, and Nigeria.
For getting a Citizenship buying a house program in Turkey, foreign nationals are free to buy property anywhere in Turkey except military zones. The terms of Citizenship for foreigners who purchase a house in Turkey will be 250 thousand Dollars.
Samads Group, in partnership with selected construction corporations, is now in a position to offer an exciting financial product to our clients in cooperation with Different Banks. A 50% LTV (Loan to Value) fixed-rate mortgage at 5% over a ten-year repayment period.
The title deed is called ‘TAPU’ is an agreement between buyer and owner. All property transactions for foreigners are done only through the Land and Registry offices of the relevant district where the property is located.
Usually, pay 3,000 Euro (approx) as a reservation fee and within the next four weeks, pay 30% as a deposit. Most developers offer stage payments as (lump sum to be paid after each stage of a building),
regularly with a degree of adaptability towards your circumstances. This would be agreed upon at the time of buying.
After paying the reservation amount, Samads Group would carry out title deed checks. Will sign a contract between the dealer and the buyer.
This will provide the details of the completion date, terms and conditions, and installment plan. When all parties sign agreement, the deposit is paid. You are ready to apply for Tapu and Land Registry Office for a security clearance to get permission to own your property in Turkey. If required, you can sign a power of attorney to conclude all the necessary paperwork.
The property valuation report,
Passport translation copies at Notary Public,
Power of attorney,
Two photos, Local tax number, and bank account if needed.
An appraisal report is providing the correct price of the property. When buys a property, Land Registry, and Cadastre inquire for the SPK-approved Valuation Report as a confirmation record obtained at the right price. Your addressee will be the direct Real Estate Appraisal Department of Land Registry and Cadastre. The process takes 3 – 6 days.
Samads Group carries out pre-completion documents. Your Power of Attorney or you will sign a deed of transfer in the prances of an officer of Land Registry, who will record you as the official owner of the property. The property tax will pay at this stage.
Yes, there are reputable English-speaking lawyers, and we can introduce them to you during your trip.
Turkey’s economy is only beginning to mature, and inflation has fallen from 30% to a manageable 7% in recent years. An impoverished population is still used to cash purchases. It has kept prices low but starting to increase because foreign investors and more mortgage options emerge for Turkish. The mortgage market has become more dynamic, opening up rates for international customers and continuing to grow.
Environmental tax
State property tax
Wealth tax
However, these are relatively low taxes, and your lawyer will advise you.
Samads Group will help you to ensure your property.
The primary season is April to October, but you should still be able to rent it out at lower rates during the winter months. You should expect a more fair return at the height of the summer.
Many developers offer furnishing packs. You can buy furniture online.
It is a democratically elected government as in Ireland / UK. Turkey is also one of the five permanent members of NATO.
In Turkey, the property ownership tax is 4% of the total value of the property.
It shall pay it only once upon transfer of the property in the name of the new buyer and issuance of the title deed in his name at the Land Department and Land Registry.
It is not an annual tax, but, as mentioned above, a one-time tax.
The owner of the property is permitted and free to rent his property at any time. Summer is the peak tourist season in which the search for renting real estate in Turkey increases.
Yes, you can sell your property at any time.
Yes, anyone can sell the property during the construction phase. There will be 2% to 3%
Commission to be paid to the developer If it is mentioned in the sales deed.
Turkish banks are still offering real estate financing If applicants have a monthly income in Turkey.
We will do our best to help with financing. Some major real estate projects in Turkey, or projects with government assurances, have special privileges.
The title deed in Turkey is called “Tapu.”
After selecting the suitable house, can complete all procedures in just Ten to Twelve working days.
It is true. Real estate or property can be purchased remotely without coming to Turkey by a legal power of attorney for whoever works on your behalf in Turkey, and a power of attorney is given at the Turkish embassy in your place of residence.
Yes, the property will be registered in all the buyers’ names, with the ownership shares specified for each of them.
Property can buy with a residency Card and without a residency Card. Most real estate buyers do not need to obtain a residency permit in Turkey before buying, except for Palestinians who hold travel documents and people “without nationalities” who do not have any country’s nationality. They cant buy property in Turkey.
Yes, the foreign owner of Turkey’s property obtains a real estate residence that is extended annually for himself and his family.
Yes. There is a price list that is the same for both Turkish and foreign customers. You can confirm all the projects we are selling; the requirements are the same for all customers.
Yes. The taxation scheme is precisely the same for everyone.
If you go by yourself or through our company’s consultancy, the developers provide the same price. We are experts in this field, and we know how much discount you can get depending on the project. We can help you get a better price than usual.
It would be best to keep your passport with you when going to see the projects/Properties. After selecting Property %, 1 of the sales prices should be paid as reservation, cash, or credit card.
After reserving your apartment, you have Two weeks to pay the down payment. Will be deducted % 1 from the down payment.
You need to go to Göç Idaresi with your passport to get a Tax number.
After getting Tx number, need Documents that are showing your current address (it may be home agreement gas or an electricity bill
Keep Passport + Home Agreement + Tax Number, and You can go bank to open an account.
International tourists can stay in Turkey for a maximum of 90 days with a Tourist visa. After you keep the title deed, this gives you automatically one-year residency permit. You can make the application online via the Foreigners Police website.
Yes. Your Wife and Under 18 years children will also get a residency permit after your submission.
Foreigners must have five years of uninterrupted residence in Turkey to apply for citizenship. Even if all the requirements are complied with, there is no assurance that Turkish authorities will accept the application.
Typically, in sales contracts, there is an article relating to the termination penalty. This could change about 10-20 percent of the purchase price. If the buyer wishes to cancel the contract at any point, They will deduct the penalty, and the remaining payment will be paid to the buyer by the developer.
According to the law, an extension is six months for the developers to deliver the complete project. After these six months, if the developer still does not provide the apartment, the developer will pay a monthly penalty to the buyer, which is written in the contract.
Return on investment is very high in old city centers, and the rental returns will be around 4-5%. But in developing new Istanbul areas, the percentage will be up to 7-8%. Besides, when you Purchase at earlier stages of a project, a better rental return is not a defect. There is an appreciation for your property’s sales price, increasing around 15-20% yearly. When you consider all these positive factors, you can get 100% profit on your best investment in some years in Turkey.
This is a general question that foreigners are asking, and there is a big misunderstanding about Taksim and Sultanahmet are the centers of Istanbul. These are primarily touristic areas.
Istanbul has a population of seventeen (17) million, and there are Thirty-Nine (39) districts in the city. Many of these districts have a population of five hundred thousand people living, and all these districts have their centers; where you live, you can find what you need.
All the property reservation fees you will be paying are refundable during the reservation period, two weeks; you have the option to cancel for any reason.
Depends on the project, the maintenance fees will be different. When there are more facilities in the compound, can increased maintenance charges. Compared to other countries like Dubai, Malaysia, etc. Turkey is very reasonable. Monthly it will be mostly 1-1.5 USD/m2. For a two-bedroom apartment with 100 m2, that will be 100 USD per month.
The monthly maintenance fee is around 1-1,5 USD/m2
Yearly Property tax, which is %0,2 of the property value.
Annually DASK (Compulsory Earthquake insurance), which is around 70-80 USD.
Purchasing tax: %4 on the sales price. (mostly, it is divided between the developer and buyer, it will be %2 for each party)
VAT (Value Added Tax): %1 on the sales price. (if the cover or net era is bigger than 150 m2, will increase VAT to %18 on sales price)
Approximately 1000 USD for the Activation of Utilities (Electricity, water, gas connections):.
Stamp duty + notary charges: Will be paid only for government-supported projects that belong to Emlak Konut. Mostly, VAT is not paid for these projects, making it almost equal for the buyer.
If you want to sell your property before five (5) years, then the capital gain tax rate will start from %15 to %35.
If you keep your property for five years, there will be no capital gain tax to pay the government.
They increase the metro system network very fast; before 2014 metro was only 45 km, and By 2014, it has reached 142km, and by 2019, the government aims to increase it to 430 km.
75% will be for children by law. The remaining %25 go to the wife/husband. 75% will be equally divided depending on the number of children in the family.
Turkish cousin is one of the best in the world, and it is the familiar concept of many people. The variety gives cause for everyone to like it. Wherever you will be coming from Turkey, you will quickly get used to the Turkish food and start enjoying it
Yes, You can join quickly; there are many English/Arabic teaching schools in Istanbul in different locations where mainly foreigners are studying. Besides, Turkey is becoming an important country for international students who would like to continue their studies in Turkey for university. Many Turkish universities are teaching in English and Turkish.
Due to some demonstrations in Turkey last year, some of our clients started to ask this question. These demonstrations took place only in the old centers of the city and ended in a short time. We can certainly tell you that Istanbul is a very secure city to live in.
Istanbul is one of the best city in the world for its climate with all four seasons. The usual weather here can be seen as a more relaxed version of the Mediterranean climate; a fantastic spring, perfect summer temperatures, maximum 30-35 degrees, simple autumn with blue skies, and a rainy winter of about 5 degrees.
You can use your credit card everywhere, which is the best way to go shopping. We advise you to keep some cash with you to use if needed for taxis or other small needs.
You can buy the car. There is no difference with Turkish citizens. If you are a forefinger, you can purchase a vehicle cheaper as a forefinger to a forefinger.
Due to high taxes and prices for cars in Turkey, we do not suggest buying. Instead, various rental car companies offer decent rates daily – weekly – monthly. You can rent a car depending on your need.
Turkish government wants to charge those who purchase cell phones outside of Turkey. Will block your phone within two weeks after using a Turkish SIM card in Turkey.
Income tax rates varies from 15% to 35% in Turkey.
