November 18, 2019

Can Foreigners Buy Property in Turkey?

Can Foreigners Buy Property in Turkey?

Out of 195 countries in the world, only five countries cannot purchase and own property in Turkeys real state. The citizens with nationalities of US, UK, European and Middle Eastern can buy and own Turkish real state. The citizens of five countries that include Syria, Armenia, North Korea, Cuba, and Nigeria cannot purchase or own in Turkey. For most of the citizens the procedure is straight forward to buy places for residential or commercial purposes. You can easily and quickly purchase and own a home in the Turkey real state.

On the other hand, the citizens of few nationalities such as Iraqis, Iranians, and Palestinians need to get permission from the interior ministry in order to purchase a place. Moreover, there are few nationalities that cannot purchase any agricultural land in country.

Who is Buying Property in Turkey?

According to facts and figures released by Turk Stat, we came to know that Turkey is a multicultural hub. The countries officials statistics portals encounter many nationalities purchasing lands for homes or investing in business premises. Since, in the recent report of 2018, almost 40,000 homes were sold to foreigners. The majority includes Russians, Germans, British, Sweden, Netherlands, and USA citizens. Few Middle Eastern nationalities that purchased lands are Iraqis, Iranians, Kuwaitis, Jordanians, and Saudi Arabians.

As foreigners buy land in many regions of the Turkey without any discrimination, they look up to Istanbul, Antalya, and Bursa.

If I Buy Property, Can I Get Turkish Citizenship?

To get Turkey’s citizenship, there are specific rules and straight forward procedure. However, the investment scheme of Turkey states that buying a home worth $250,000 and keeping it for three years is the eligibility to apply for Turkish citizenship. You need a lawyer to perform the further
procedure of submitting application, and little official work from land registry office.

What Property Can Foreigners Buy in Turkey?

Most of the nationalities can own up to 30 hectares of property. But it necessarily need to be out of military zone. In the villages and small towns, the foreigners can buy up to 10% of the land as stated by the General Directorate for Land Registry and Cadastre.

You can buy real estate for commercial as well as residential purpose. While purchasing a land, you need the transaction and hand over the legal rights only when title deeds office handles it. As for the people who cannot speak Turkish, it is necessary to have a certified and recognized land registry translator.

At the same time, if a buyer is not present to sign for the deeds, then the facility from the land office is provided if you consult to the Turkish embassy. The embassy or consultant office will help through the power of Attorneys. Moreover, the title deeds cannot approve the transfer of
ownership of property in case there are limitations on property such as mortgages or council debts. Although you can prevent this condition by hiring a lawyer. Also, whether if you are Turk or foreign, you need to get approval within two years in order to construct on the land you purchased.

Do You Need a Residency to Buy Property in Turkey?

Well, No, we do not need residency to buy property in Turkey real state. Another facility in Turkey real state is that once you are owner of the home, it will be easy for you to apply the residency.