Rules for buying property in Turkey (2024 update)


Rules for buying property in Turkey (2024 update)

In general, one of the factors that have made foreigners more inclined to buy property and invest in Turkey is the relatively simple property laws in this country. If we compare the rules of buying property in Turkey with the rules of most European countries, we realize how fast and simple the procedure of buying real estate in Turkey is. Currently, foreigners can buy all kinds of properties they want in the cities and regions of Turkey, and in line with that, they can get permanent residence and finally citizenship of this country. In 2023, Turkish real estate laws were accompanied by changes; Therefore, in this article, we are going to fully review the rules for buying property in Turkey in 2023, as well as the administrative procedure and points that you should pay attention to in this process.

To see the price and purchase conditions of all types of real estate, visit the Turkey Real Estate page.

General rules for buying property in Turkey

First, it is better to know more about the general rules of buying real estate in Turkey.
These rules are:

  • The properties intended for purchase should not be located in military and security areas of Turkey
  • Foreigners can buy up to 30 hectares of real estate in this country
  • By purchasing a property worth 400,000 dollars, the buyer is granted a two-year residence permit, which you can renew every year as long as he owns the property, and after that, you enter the process of obtaining permanent residence.
  • By purchasing a property worth at least 400,000 dollars, you can apply for Turkish citizenship
  • Foreigners are allowed to buy up to 10% of real estate in any city or region in Turkey
  • If land is purchased with the purpose of building a property, the construction process must be completed within two years at most
  • Contracts and agreements between the parties must be concluded in the official consulting offices of Turkey
  • Foreign buyers must be citizens of countries that are allowed to buy property in Turkey.
  • If you intend to buy a property with the aim of obtaining permanent residence and Turkish citizenship, you must buy the property from a Turkish person.

To know the price of apartments for sale in Turkey, refer to the following page:

New rules for buying property in Türkiye

New real estate laws in Turkey

Now that you have familiarized yourself with the general rules of real estate in Turkey, in the following we will discuss the new rules that you should be aware of so that you do not face problems and challenges in the process of buying a property and you can act consciously in this field.
These rules are:

On the 12th of April 2023, a law was approved by the Turkish government, according to which the possibility of obtaining Turkish citizenship by purchasing real estate increased from $250,000 to $400,000.

In the Esenyurt area of Turkey, you can get Turkish residence only by buying a property according to the specified rules, and any other type of residence that is given to you in exchange for renting a property in this area is not approved by the Turkish government. Of course, you should know that this law was registered and implemented for the first time on January 15, 2021, for people who applied for tourist residence for the first time.

By buying a property in Fatih region of Turkey, it is not possible to get residence, and it is currently prohibited to rent a house in this region. But only students can live in this area and submit their residence request

Currently, there are many good opportunities to invest in North Cyprus real estate. For more information, visit the following page:

The main process of buying real estate in Turkey

You have fully familiarized yourself with the rules of buying real estate in Turkey in 2023, and we would like to tell you the process of buying real estate in this country in a 7-step summary:

  1. First, you have to choose the property you want. Note that the legal qualification of the property you are looking for must be confirmed in order to purchase it
  2. Then you need to open a bank account in Turkey, where the funds for the purchase of the property will be placed in that account
  3. In the first step, the desired property should be valued and you should also get the approval of the Turkish government expert in this regard
  4. Now we come to the transfer stage of the property deed, which takes place in Turkish official notary offices, which are called Noter.
  5. In the next step, the money should be deposited into the property seller's account
  6. At the end, the title deed or title deed should be issued and you should receive it
  7. Finally, based on the value of your property, you can apply for temporary residence and Turkish citizenship at the immigration office so that the administrative process can begin

Turkish Real Estate Laws 2023

Documents required to buy property in Turkey

To buy all kinds of properties in Turkey, you need the following:

  • Two pieces of 3 x 4 photos
  • Passport
  • Documents confirming residence in the country of origin
  • A bank account in a Turkish bank
  • Local tax code

Necessary documents for the transfer of a property deed (tapu) in 2023

In the process of buying a property in Turkey, you must have the following documents in order to transfer a property deed, or in other words, a tapu

  • The original passport along with its translated version in Turkish
  • Two photos of the new owner
  • A photo of the previous owner
  • Tax and duty settlement sheet from the district municipality along with the work termination sheet
  • Documents related to property registration in the Turkish earthquake insurance department
  • Confirmation of the power of attorney issued by the Turkish judicial authorities (in case of purchasing the property by proxy by the owner and the buyer)
  • The presence of an official translator approved by the Turkish Tapu Office

To know the price and details of buying a house in Turkey, refer to the following page:

How to buy property in Turkey offline

It is interesting to know that you can buy the property you want without being in Turkey.
As a result, you will not have to worry about this, and the entire administrative process related to receiving registration approvals and issuance of the Tapu document can be done in person. If you want to get more information and do the initial work to buy a real estate agency, contact Antalya Estate Group and the experts will guide you in this field.

Average property purchase costs in Turkey in 2023

Before taking any action, it is better to know the average cost of buying a property in Turkey in 2023.

  • For document registration and tax work, two percent of the property amount must be paid by the buyer and another 2 percent by the seller
  • Tapu registration fee is $125
  • The property transfer tax in transactions is about 4.4%, which is paid half by the seller and the buyer
  • The cost of translation of the documents in the opinion is about 700 liras
  • Annual notary fees are $375
  • The cost of earthquake insurance varies depending on the size of the property; But approximately for a 70-meter two-bedroom apartment, it is estimated to be about 73 dollars per year
  • The average cost of real estate agency services in Turkey is 3% of the total price of the property

See the daily price and specifications of properties for sale in Antalya on the following page:

Types of rules for buying property in Türkiye in 2023

Obtaining Turkish residence through property purchase

If you want to apply for residency and citizenship after buying a property in Turkey, you should pay attention to the following tips and rules:

In general, by buying a property worth 400,000 dollars, you can quickly obtain Turkish citizenship; But if the value of the property purchased by you is less than 400 thousand dollars and you want to apply for permanent residence in Turkey, you must pay attention to the following conditions:

  • The address of the purchased property must be registered in the Turkish real estate system
  • The applicant and in other words the owner of the property must not have benefited from social assistance in the last year
  • The applicant should not be considered a threat to the public order and security of Turkey
  • The applicant must have valid health insurance
  • If you have a permanent residence in Turkey, due to the lack of citizenship, you cannot participate in Turkish elections as a voter or be a candidate for government elections. Also, it is not possible for you to be sent to the army of this company in officer universities to work in Turkish military bodies

For more information in this field, refer to the Turkish citizenship by purchasing property page

FAQ

Is it possible to open an account in Turkish banks for foreigners? Yes, you can open an account in Turkey with a valid passport

Is it possible to buy apartments and villas in Turkey in installments? Yes; Currently, some properties in Turkey are sold in installments. For more information, you can visit the site.

If the purchased property is worth less than 400 thousand dollars, is it possible to get a Turkish passport? No; To get a Turkish passport, the value of the property must be at least 400,000 dollars

If the value of the purchased property is more than 400,000 dollars, how long will it take to obtain Turkish citizenship? Currently, you can get Turkish citizenship immediately after buying a property worth 400,000 dollars.



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