Steps to owning real estate in Turkey by foreigners

There have been many questions about the topic of buying real estate in Turkey, and many foreigners are wondering about the steps and conditions that they should take. Therefore, we found it important to refer to some key information about owning real estate in Turkey.

If you are interested in the real estate market in Turkey, follow this article with us, in which we will explain everything that interests you to know about this topic.

Real estate ownership law in Turkey:

In 2012, the Turkish government issued a decision stipulating the abolition of the reciprocity law, and thus all foreigners around the world could own real estate in Turkey, except for five nationalities (Syria - Armenia - Cuba - North Korea - Greek Cyprus) for some agreements and political reasons.

You may wonder about the limits of foreigners' ownership of real estate in Turkey. Are they allowed to buy as much real estate as they want? Of course not. Despite the flexibility of laws in Turkey, there are some restrictions that must be adhered to, such as:

- A foreigner cannot own more than 30 hectares of Turkey.

- Foreigners are not entitled to buy real estate located in security or military areas.

- The Land Registry Directorate stops granting ownership licenses in an area to foreigners if their property in it reaches more than ten percent of its total area.

Check out  the steps for buying real estate in Turkey:

Before you start searching for a property in Turkey, you must take a look at all the steps that you must follow in order for your choice to be correct, and this is what we will talk about in the next paragraph.

The first step: you have to specify the goal that you hope to achieve by purchasing the property:

1 - A large category of foreigners looking for real estate for sale in Turkey who want to obtain Turkish citizenship (you must search for the property that matches the conditions for obtaining it), that is, its value should be two hundred and fifty thousand dollars or more.

2 - There are those who wish to invest in real estate and therefore must search for a property for sale in accordance with the rules and advice indicated by experts and specialists.

3 - If you want housing and stability, you are free to choose the property that suits you according to the specifications you wish to have without having to abide by any rule.

Second Step: You must use one of the trusted real estate agents:

If this is your first real estate experience in Turkey, you should deal with one of the important real estate companies to help you and provide you with the right properties for you. But what we must point out in this context is that the company should choose carefully and according to specific bases, which are as follows:

- Make sure that it has a good reputation in the real estate market.

- You should find out about the services it provides.

- Communicate with clients who have owned real estate through it.

- Visit the company's headquarters and put your questions to the responsible authority to see the extent of its interaction with you.

Third Step: Take field tours and see the most important real estate projects:

Among the main steps that you must take when buying real estate in Turkey is to take real estate tours and visit the most important real estate projects available to see their specifications and the appropriate offers for you.

You will find a lot of distinctive real estate options (ready-made properties - properties under construction - installment offers).

Fourth Step: Complete all routines:

After you have found the right property for you and your goal, you have to complete the rest of the routine procedures, which are as follows:

1 - You must obtain a security approval and it will not take more than one week only (the purpose of which is to ensure that the property is not located in a security or military area).

2 - Extracting a real estate appraisal document that does not need more than three days (the purpose of which is to accurately determine the value of the property and protect the buyer from being a victim of fraud).

3 - Issuance of an earthquake insurance policy (in order for the buyer to obtain material compensation in the event of an earthquake or natural disaster).

4 - Paying the title deed issuance fees, which have been determined to be four percent of the property value and are paid equally between the buyer and seller.

Important alerts when buying real estate in Turkey:

Through the following paragraph, we will present to you the most important and most prominent observations that you should take into account when searching for real estate for sale in Turkey.

1 - Study your financial budget well so that you do not later encounter expenses and costs that were not in your consideration and have to borrow and fall into another problem, which is debt repayment.

2 - You must see the legal status of the property. Are there any problems arising from it? Such as mortgage or real estate seizure that has a negative impact on its value and investment status.

3 - You may think that you can buy a property on your own without the help of a real estate expert, but in fact, dealing with an experienced real estate agency reduces you a lot of effort and search randomness.

4 - If you do not have enough money to pay the value of the property in cash, you should resort to installment offers, as they are an ideal solution to meet your desire to buy a property in Turkey.

5 - Before signing the purchase contract, study the property well and review the service facilities that exist in the area as well as the nearby strategic projects.

6 - Ask specialists and experts about the future of real estate in the area in which you intend to buy a property. Will you witness an increase in its prices or not?

The most important thing you would like to know about buying real estate in Turkey is presented to you in this article. Do not forget that Tur Property always seeks to provide advice and consultations that will help you choose the right property for you.