Buying a property in Turkey as a foreigner can be a difficult and stressful process. It is important to know the process of buying a property in Turkey for foreigners so that you can make an informed decision. This guide will teach you the property buying process in Turkey. It provides an overview of the process and the steps that you will need to take in order to successfully complete the transaction.
The property market is booming in Turkey and there are many opportunities for investors. However, it is important to do your research before buying a property in Turkey as a foreigner.
Turkey is a popular destination for foreign investors who want to buy properties in the country. The country offers a wide range of options for property investment, and the process of buying a property in Turkey for foreigners can be quite complicated.
We, at Lale Real Estate Group, will be with you step by step in the property buying process in Turkey.
So, if you are in the process of buying a property in Turkey for foreigners, you have reached the right guide!
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Important Conditions for Buying a Property in Turkey for Foreigners
It is important to know the laws and regulations in a country before you decide to buy property there.
The following are some of the conditions that should be met before buying a property in Turkey as a foreigner:
- One of the most important conditions for the process of buying a property in Turkey for foreigners is that the property is not located in a forbidden area close to security zones and military forbidden zones, and obtaining an approval before buying.
- The total real estate area throughout Turkey should not exceed 30 hectares for buying a property in Turkey for foreigners.
- Another condition for the process of buying a property in Turkey for foreigners is also if the property is in one administrative area, its area should not exceed 10% of the area of the administrative area.
- The foreigner who wants to buy a property in Turkey must be over 18 years old, and of the allowed nationalities to own a property in Turkey.
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Law of Buying a Property in Turkey as a Foreigner
Law No. 35 of Land Registration Law No. 2644, as amended by Law No. 6302, which took effect on May 18, 2012, which allows foreigners to buy a property in Turkey, stating that foreigners are allowed to own a maximum of 30 hectares, and a hectare is equivalent to 300,000 square meters in Turkey.
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What is The Buying a Property in Turkey Process for Foreigners?
It is important to understand how buying a property in Turkey process for foreigners works before going ahead with it, so that you don’t run into any problems later on down the line.
- There is no mortgage of the title deed of this property in the Tapu Office.
- Compatibility of the price of the property with its specifications in reality, in terms of the vital location and availability of services.
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Benefits of Buying a Property in Turkey for Foreigners
The following are some benefits of buying a property in Turkey for foreigners:
- Buying a property in Turkey for foreigners is one of the best types of investments, as it brings financial profit to the investor.
- Real estate investment contains many risks, and the more the investor takes a risk, the higher the return on the investment.
- Getting Turkish citizenship by investment if the property is suitable for the conditions of the citizenship.
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What Are The Taxes Related to Property Buying Process in Turkey?
According to Turkish law, there are some taxes related to the property buying process in Turkey, which is about 4% of the property price, so the seller must pay 2% and the buyer must pay 2% when buying a property in Turkey for foreigners.
This tax of the process of buying a property in Turkey for foreigners is for residential properties such as homes, apartments, and villas.
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Taxes of Property Sale in Turkey for Foreigners
According to Turkish law, the property sale tax in Turkey for foreigners is about 4% and is paid by both the seller and the buyer equally, and is mostly paid by the buyer who is buying a property in Turkey for foreigners.
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Procedures for Buying a Property in Turkey for Foreigners
When buying a property in Turkey for foreigners, several procedures must be followed, including:
- Choosing the property you want to buy.
- Obtaining a tax number.
- Translating the passport into Turkish and certifying it by the notary.
- Preparing the required documents for the process of buying a property in Turkey for foreigners, such as the passport and the personal photos.
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Essential Tips about Buying a Property in Turkey Process
There are a lot of things to consider when buying a property in Turkey as a foreigner, here are some essential tips about buying a property in Turkey process:
- Before buying a property in Turkey for a foreigner, the buyer must review the real estate registry to ensure the legal transaction of the property.
- Not to rely on untrustworthy real estate brokers, whether companies or individuals.
- The process of transferring ownership of the property is not required for the buyer to obtain a residence permit in Turkey.
- You must refer to the relevant Turkish judicial bodies in case of a dispute between the parties of the contract when buying a property in Turkey for foreigners.
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Required Documents for Buying a Property in Turkey as a Foreigner
All foreigners preparing for buying a property in Turkey must provide the following required documents:
- Tax Number.
- A copy of the passport translated and certified by a notary public.
- Personal photos.
- Foreign currency exchange document.
- Real estate appraisal report.
- Agencies when necessary in the absence of the buyer.
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5 Questions You Need to Make Sure You Ask Before Buying a Property in Turkey as a Foreigner
If you are a foreigner and planning to buy a property in Turkey, you will need to ask yourself some important questions before making the decision.
The following are 5 questions that you should ask yourself before buying a property in Turkey as a foreigner.
- What is your budget?
- What is the type of property that you want?
- How long do you plan on staying in Turkey?
- Do you have any particular needs or requirements for your new property in Turkey (e.g., swimming pool)?
- Are there any particular areas that you would like to live in?
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The Best Step in The Process of Buying a Property in Turkey for Foreigners
Turkey is a country where people are looking for a larger and better living space. With the growing population and the increase in demand for property, it is not easy to find the right property.
To make the process of buying a property in Turkey as a foreigner easier, the most important step is to contact a reliable real estate company to facilitate this process for you.
Real estate companies are important in the process of buying a property in Turkey for foreigners because they help you find properties that are in your budget and suitable for your needs. They also provide the necessary information about the property and its location.
We, at Lale Real Estate Group, will be pleased to accompany you in the process of buying a property in Turkey as a foreigner and make things easier.
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FAQs about Buying a Property in Turkey for Foreigners
What is the process of buying a property in Turkey as a foreigner?
Determining the goals of buying a property in Turkey as a foreigner (purchase purpose – budget – location – property specifications).
Choosing a trustworthy real estate agent in Turkey, whether companies or individuals.
Coming to Turkey for the real estate tours and negotiating the prices.
Providing a deposit and preparing the documents required for buying a property in Turkey for foreigners.
Finishing the ownership procedures in Turkey and receiving the title deed.Does buying a property in Turkey for foreigners help in obtaining residency?
Yes, it is possible for foreigners to obtain residency after buying a property in Turkey, but they must first obtain the title deed for the property, then make an appointment for the residency and specify its type, which is considered a real estate residence, and then submit the necessary papers and pay the residence fees.
Read more about residency in Turkey through this link: How to buy a property in Turkey and get residency?Can foreigners buy property in Turkey?
Of course, foreigners are allowed to buy any type of property in Turkey, they can buy houses, villas, apartments, offices, stores, etc. Only citizens of five countries are not allowed to buy Turkish real estate
Can German citizens buy property in Turkey?
Yes, German citizens are allowed to buy any type of property in Turkey.
Can Americans buy property in Turkey?
Yes, Americans can buy any type of property in Turkey.
Can Russians buy property in Turkey?
Absolutely, Russians are allowed to buy property in Turkey, and they are among the top five most active real estate buyers in Turkey.
Read the full guide about Russians in Turkey through this link: How to get Turkish citizenship by investment for Russians?Can Canadian citizens buy property in Turkey?
Yes, Canadian citizens are allowed to buy property in Turkey.
Can a British citizen buy property in Turkey?
Yes, British citizens are allowed to buy property in Turkey.
Can Indians buy property in Turkey?
Yes, Indians are among the allowed nationalities to buy property in Turkey.
Can Pakistani citizens buy property in Turkey?
Yes, Pakistani citizens can buy any type of properties in Turkey.
Can you buy a property in Turkey as a foreigner?
Foreigners can buy and own properties in any area of Turkey, as long as it is not in a security zone and military forbidden zones.
What is the benefit of the property buying process in Turkey?
Foreigners can get Turkish citizenship by property buying process in Turkey, and this is one of the most encouraging reasons to do so.
Is buying a property in Turkey process easy?
Buying a property in Turkey process is not easy, and is not complicated if you choose the right real estate company to help you from the first step to the delivery of your property's key.
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