As Turkey strengthens its position within the market for global real estate investment, recent changes in Turkish law have made it easier for foreigners to buy Turkish property. The biggest change in the law is the cancellation of the reciprocity principle, which virtually lifts all the existing obstacles. Still, it is advised that foreigners firstly check with the Turkish consulates and embassies in their countries about their eligibility to acquire property in Turkey. Another important point to remember is that all official contracts of handover must be signed at the local title deeds registry office. Foreigners can own land or commercial/residential Turkish properties, but there is a restriction. Even if they are in different cities, the total amount cannot exceed 30 hectares. It is also crucial to get permits from military establishments in the area. If the property is located in a military security zone, the sale will not be permitted and foreigners are advised to make proper investigations regarding this matter before the buying process. All foreign real persons (except citizens of Syria, Armenia, Cuba, Israel and Cyprus) are entitled to buy property in Turkey, but only entitled to acquire up to 10% of the total surface area of a certain district. The initial procedure for buying Turkish property is to apply to the relevant land registry office for approval. Aside from the above restrictions, there are no differences between foreign real persons or Turkish citizens, when buying Turkish property, nor is there a different tax treatment.
Don’t let these complex rules and regulations worry you, though. Once you are working with us, you will not have to think too much about the procedures of buying your new property. We will keep informing you all throughout the way and make sure you get a clear picture of the entire process, as well as all the tiny details and formalities that need your attention.