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The answer is yes. A foreigner can buy a property in Turkey, own it, and register it in the real estate registry departments under his name. Additionally, a foreigner can apply for Turkish Citizenship if they made a property investment of $400,000 or more.
Important to note that five nationalities are not allowed to own property in Turkey, which they are:
- North Koreans.
- Syrians.
- Armenians.
- Cubans.
- People from Greek Cyprus.
Ownership law in Turkey for foreigners
The ownership law for foreigners was implemented in Turkey in 2012. It was registered under No. 35 of the Real Estate and Owned Lands Registration Law. The law allows foreigners to own property, provided that it does not exceed 30 hectares (300,000 square meters).
Advantages of buying a property in Turkey for foreigners
After owning property, there are many advantages to buying a property in Turkey for foreigners, including:
- Obtaining a real estate residence permit in Turkey for one year; it’s renewable.
- Applying for Turkish citizenship by purchasing a property worth $400,000 or more.
- Investing in real estate to profit from it in the Turkish market.
- Allowing foreigners to own commercial units in Turkey for the sake of trading.
Conditions for buying a Property in Turkey for foreigners
Foreigners are only allowed to buy or own real estate that is not within a security zone or adjacent to a military zone. In addition to the fact that the real estate shouldn’t exceed 30 hectares (300,000 square meters), if the real estate is distributed in Turkey, and if the real estate is within one administrative area, then it must not exceed 10% of the total area.
Requires Documents to buy a Property in Turkey for Foreigners
Title deed (Tabu).
Real estate appraisal document.
Earthquake Insurance Policy. (DASK)
The original copy of the passport, in addition to a translated and certified copy of it by the notary public (NOTER) in Turkey.
A personal photo of the Real Estate Seller and two photos of the Buyer (Biometric) measuring 4 x 6.
Tax Number.
Exchange document (DAB), which is a document proving the exchange of foreign currency.
Advantages of Real Estate Investment in Turkey
Foreigners Purchase Real Estate in Turkey for many reasons:
- For housing and stability.
- For tourism, holidays, and spending quality time.
- For investment and profit.
The investor will get investment returns in the short term through renting the property. In addition, huge profits must be in the long term; this is because property value increases through the years.
Since the real estate market in Turkey is a popular market and has a great demand; investment returns will be at a high rate, and this is the most important feature of real estate investment in Turkey.
Also, the support that the investor gets in Turkey is considered one of the important advantages, and the exemption from added value and real estate residence is one of the most important things that the investor gets in the real estate sector in Turkey.
The best cities to buy a property in Turkey for investment
1- The city of the two continents, Istanbul
Real estate experts agree that Istanbul is the first choice in real estate investment. Due to its cultural, geographical, natural, population and economic characteristics.
2-Antalya
In terms of tourist fame and natural attractions, Antalya has become a favorite city for Russian and European tourists, increasing the value of its real estate shares, and a boom in the real estate market.
3-Trabzon
Antalya is the Europeans’ favorite city, but Trabzon is generally preferred by the Arabs. It is because of its natural beauty that combines green and blue colors and its calmness and comfort. All these features made it one of the important cities for real estate investment in Turkey.
4-Ankara
The capital, Ankara, is no less than other famous cities in terms of moderation in climate, appropriate population density, beautiful nature, and remarkable popularity of real estate. It is one of the most significant cities to consider for Property Investment in Turkey.
5- Bursa
Because it enjoys a distinguished geographical location close to the city of Istanbul, charming natural beauty, and population density; Bursa is considered one of the prime cities in the field of real estate investment.
Recently, Kocaeli, Sakarya, Yalova, and Bodrum cities have the elements of successful real estate investment in each of them, and they are moving toward further progress and sophistication.
