Buyer’s Purchase Guide

Laws regarding purchasing the property by foreigners and procedures involved in transactions differ in countries all over the World. At the same time, it is more difficult to choose the right property in a foreign country. We prepared this guide to help you get through the procedures and pay attention to some aspects that can make choosing a property in Turkey easier.

WHO CAN PURCHASE PROPERTY IN TURKEY?

Foreign nationals can easily purchase property in Turkey. There is no obligation to be a residence permit holder in order to make the transaction.

WHAT KINDS OF REAL ESTATE CAN BE PURCHASED BY FOREIGNERS IN TURKEY?

Foreigners can buy either residential or commercial properties as well as land or field with no limitation of location.

WHAT ARE THE RESTRICTIONS REGARDING BUYING REAL ESTATE BY FOREIGNERS IN TURKEY?

For companies with the legal entity which are established in accordance with the laws in their own countries, abovementioned restrictions shall not apply.

Foreigners are allowed to buy a maximum of 30 hectares of property in Turkey.

A foreign national cannot buy property in military forbidden zones and security zones. Renting a property in these zones is only possible with special permission.

Foreign real persons can buy property up to 10% of the total area of the district where private property is located.

If the foreign national buys land or field, they are obliged to inform the Ministry of Environment and Urbanism within 2 years about the type of the building to be built on that land. Properties which are determined by legal authorities not to be used in accordance with the purpose of purchasing and properties which are not notified to the Ministry of Environment and Urbanism within 2 years although they were purchased for building construction may be subject to winding up by official authorities.

WHAT ASPECTS SHOULD YOU TAKE UNDER CONSIDERATION WHILE CHOOSING A PROPERTY?

LOCATION

If you are considering purchasing property for investment purposes, you should make research on the development of particular districts in order to predict how much the value of a real estate can increase over the years. If you are planning to rent the property, you can compare prices of the rent in various locations to get the idea of how much rental income real estate in different districts can bring. For those, who want to buy property to live in, it is good to choose a district suitable for their lifestyle: family-friendly areas, districts located close to business centres or recreation areas.

COMFORTABLE LIVING

Either you are looking for a property to live in or the one that you are going to rent, facilities located in the area surrounding the property and built-in facilities are very significant. Close distance to facilities like school, hospital, shopping mall, access to public transportation and high-speed roads increases comfort of life and makes it easier to find a tenant. At the same time, quality of built-in facilities, like swimming pool, gym or sauna influences prices of rent for apartments in the building.

STAGE OF CONSTRUCTION

For those who purchase property for investment purposes, stage of construction might be one of the important aspects. Projects under construction often offer better prices of apartments and attractive payment plans. That is why investment is real estate in a construction phase can bring higher income. However, considering investment in this kind of project might be riskier and it is recommended to make research on the construction company regarding the quality of previously finalized projects and committing to delivery dates in the past.

WHAT SHOULD YOU CHECK BEFORE THE TRANSACTION?

WHO OWNS THE PROPERTY.

SHARE RATIOS OF THE PROPERTY.

IF THERE IS SERVITUDE (USUFRUCT) ON THE PROPERTY.

IF THERE IS A MORTGAGE ON THE PROPERTY.

MANAGEMENT PLAN OF THE PROPERTY.

IF THERE IS INJUNCTION ON THE PROPERTY WHICH MAY PREVENT THE SALES.

IF CONSTRUCTION SERVITUDE IS ESTABLISHED OR THERE IS ANY OBSTACLES PREVENTING IT.

IF THE INDEPENDENT SECTION TO BE PURCHASED IS REGISTERED IN THE TITLE DEEDS REGISTRY.

SURFACE AREA.

TITLE DEED ANNOTATIONS AFFIXED BY THE LAND OWNER WHICH ARE IMPOSED ON THE CONTRACTOR.

You can receive the above information by checking the registry of real estate that you are considering to purchase. In order to check the registry, you should visit the Title Deeds Office, in which particular property is registered.

WHAT IS THE PROCEDURE TO BE FOLLOWED WHILE PURCHASING A PROPERTY IN TURKEY?

At first, you will need to make a preliminary application to the Land Registry Directorate. For this purpose, it is required to take an appointment at https://randevu.tkgm.gov.tr/ or by calling 181.

>Following preliminary application, a date is determined for the transfer transactions between the seller and the buyer.

Documents, which need to be provided for the transfer transaction:

TITLE DEED OF THE PROPERTY.

PASSPORT OF THE FOREIGN BUYER OF THE PROPERTY AND PHOTOCOPY OF THE PASSPORT (TURKISH TRANSLATION OF THE PASSPORT MAY BE REQUIRED)

CERTIFIED TRANSLATOR IF THE BUYING FOREIGNER CANNOT SPEAK TURKISH.

1 PHOTO OF THE SELLER, 2 PHOTOS OF THE BUYER.

COMPULSORY EARTHQUAKE INSURANCE POLICY FOR THE BUILDINGS SUCH AS HOUSE, OFFICE, ETC.

“PROPERTY VALUE STATEMENT DOCUMENT” TO BE PROVIDED FROM THE RELEVANT MUNICIPALITY.

IF THE TRANSFER TRANSACTION IS CARRIED OUT ON BEHALF OF THE BUYER WITH A POWER OF ATTORNEY PREPARED ABROAD, THE ORIGINAL OR CERTIFIED COPY OF THE POWER OF ATTORNEY (TURKISH TRANSLATION OF THE POWER OF ATTORNEY IS REQUIRED).

Within our services, we provide assistance on every stage of property purchase. We will help you to make the best choice on a property according to your personal preferences and budget, provide you with detailed information regarding the project, constructor and area real estate is located in, check the legal status of the properties and assist you throughout the transaction procedures, including preparation of required documents and obtaining Title Deed.