Which Foreign Nationals Can Buy Property in Turkey?
With the law numbered 6302 that came into force in 2012, the reciprocity requirement in respect of acquisition of property by foreigners in Turkey has been removed. With this amendment, the law granted citizens of 183 countries the right to acquire immovable property “without reciprocity conditions”. The most important reason for the changes made due to the great interest shown by foreign investors in the real estate sector is desired to be brought into Turkey.
In this context, the President is determined by foreign countries citizens could acquire immovable property in Turkey under certain conditions. Further information about these countries can be obtained from the General Directorate of Land Registry and Cadastre or Turkey Embassy and Consulate. In this context, Syria outside the Arab and Islamic countries, including citizens of 183 nationalities are expressed can buy property in Turkey.
Foreigners can purchase any immovable property (residence, workplace, land, farm) subject to relevant legal restrictions. Foreigners who purchase immovable property such as vacant land, farm or field must submit the construction projects they will build on this property to the relevant Ministry within 2 years. Otherwise, these immovable properties are subject to liquidation provisions.
According to the Turkish laws and regulations in force, the transfer of ownership of immovable property is possible only with the official deed and registry signed at the Land Registry Directorates. It is also possible to sign a “preliminary agreement for sale” before a notary.
What are the legal restrictions for foreigners in the purchase of immovable property?
Foreigners can purchase a maximum of 30 hectares (300 thousand decares) of immovable property and obtain the same rights. This numerical limit on immovable property can be doubled at most with the decision of the President.
It is forbidden for foreigners to acquire and rent property within the borders of military prohibited areas and security zones.
Foreigners can acquire immovable property and have the same rights in an area up to 10% of the total area of the region where they will buy the property.
What are the documents required for foreigners when buying property?
- Information about the deed of the real estate in question or village / district, block, parcel, building, independent section (Land registry transactions are made in the relevant Land Registry Directorate),
- Identity card or passport (with translation if necessary),
- “Real Estate Declaration Value Document” of the immovable to be provided from the relevant municipality (In general, there are branches specially established for this purpose by the municipalities close to the relevant Land Registry),
- Compulsory earthquake insurance for buildings (residential, office, etc.),
- 1 photo of the seller, 2 photos of the buyer (photos must have been taken in the past 6 months in 6×4 size),
- If there is a party who does not speak Turkish, sworn translator with 2 witnesses,
- If the transaction is made with a power of attorney prepared abroad, original or certified copy with the translation of the power of attorney.
What are the fees and expenses to be paid by foreigners during the purchase of immovable property?
Both the seller and the buyer pay the title deed fee based on the sales price over the determined “Property Declaration Value” (the title deed fee for 2020 is calculated as 4%).
The determined circulating capital fee should be paid (for 2020, the revolving fund service fee was determined as 157.00 TL).
In addition, an additional service fee is collected by the Land Registry Directorate regarding the transfer of property agreements signed in accordance with Article 35 of the Land Registry Act (for 2020, the additional service fee was determined as 21.50 TL).ENQUIRE NOW