Can a Foreigner Own a House in Turkey
Foreigners must meet certain conditions in order to buy a house in Turkey. Those who meet the requirements under the law can start searching for stores in Turkey through various platforms or media companies. But before that, there are some conditions and limitations that buyers should be aware of, and these limitations are as follows:
- The total amount of real estate acquired by foreigners may not exceed 10% of the area of the affected city.
- The total amount of houses and freehold land purchased should not exceed 30 hectares per person in all countries.
- Military zones and security zones are places where foreigners cannot rent or buy.
For real estate properties that are not subject to these restrictions, the process of foreigners buying a house proceeds smoothly. However, foreigners who want to buy a villa or rent a house in Turkey are advised to pay attention to the following points:
- It is useful for citizens of the country to be informed about the types of houses that can be purchased from the General Directorate of Cadastre and Land Registry, Department of Foreign Relations, Land Registry Directorates or consulates of the relevant countries.
- Before buying, the relevant laws should be checked to ensure that the property is not in a military reserve area.
- If it is deemed necessary in certain areas of the region required for the purchase of a house, permission will be obtained from the military.
- The mortgage or concession of the immovable to be purchased constitutes an obstacle to the sale, the necessary information should be obtained from the Land Registry Office before the transaction.
- In case of disputes between third parties, a lawsuit will be filed in the courts of the
- Republic of Turkey and legal remedies will be applied between third parties.
- A sales contract concluded in the presence of a notary is not sufficient for the sale; therefore, the legal process must be carried out by the land registry office.
- The requested documents must be filled in completely and accurately.
In order for foreigners to buy a house without any problems, it is recommended to do business with reliable people or companies.
Foreigners usually buy houses in big cities. For example, they choose Istanbul, Izmir, Ankara, Adana, Antalya and Bursa. Istanbul is still the first choice in real estate, as it is in many other regions.It is logical that this is the reason for the interest as the choice of accommodation icon is wide. In this way, it is easy to find luxury houses and residences with communal areas and a high return on money.There are also some points that foreigners should pay attention to when buying a home in Turkey. The main ones are: regional demographics. It then continues to the point where social facilities, schools, hospitals and transportation networks are strong.
According to the Presidential Investment Office, foreigners must purchase real estate worth at least USD 400,000 in order to obtain citizenship. The Ministry of Environment and Urbanization grants Turkish citizenship exceptionally, provided that the immovable is not sold for 3 years as an encumbrance on the title deed.
Foreigners must then register the title deed transfer for the relevant immovable/property with the Land Registry Directorate. As proof of the specified amount, a valuation report must be issued by a Valuation Company accredited by the Exchange Commission and holding a valid license, in accordance with the valuation standard and showing the market value.
Foreigners can also obtain citizenship by investing USD 500,000 in one of the real estate investment funds.
Documents required for applications to the Land Registry Directorate;
- Within 3 months, a valuation report prepared by a CMB Licensed Real Estate Appraisal Company,
- Passport or identity document,
- Title deed of the immovable property,
- TCIP
- Obtaining the real estate declaration document from the relevant municipality,
- Passport size photograph of the seller and the buyer taken within the last 6 months (2 for the buyer and 1 for the seller),
- Sworn translator and two witnesses for foreigners who do not speak Turkish,
If the power of attorney was issued in Turkey, the original or certified copy of the power of attorney together with its translation is required in order to carry out transactions with it.
Foreigners wishing to buy real estate in Turkey must be a citizen of one of the countries designated by the General Directorate of Land Registry and Cadastre that can acquire real estate and limited real rights in Turkey.
Foreign citizens residing in Turkey are also entitled to apply for a mortgage loan when buying a house. If they want to benefit from the loan, they must personally go to the bank to apply. If they are unable to do so themselves, their lawyer or a person they know must execute a power of attorney with all their rights.
