How to Buy a Property in Turkey

Are you keen on having a property as a foreigner in Turkey? Here you can find a brief information about how to buy a property in Turkey.

Turkey offers plenty of estates including apartments, residences, offices, shops, houses, lands, and villas. The property opportunities in Turkey never ends. There are thousands of foreign investors that benefit from the low costs of living and prices of real estates in every city particularly Istanbul, Antalya, Mugla, Izmir, Ankara, Trabzon, and Adana in Turkey. Due to the deep interest of the foreign property investors, real estate prices in Istanbul have been rising expeditiously.

Is Buying a Property in Turkey a Good Investment?

If you are asking the question of “Is Buying a Property in Turkey a Good Investment?”, we, as a company with offices all around Turkey and with years of experience, say ‘’Yes!’’.

Turkey’s most featured regions for healthcare, education, business, and tourism are the Aegean and Mediterranean, and Marmara regions. Most of the foreign investors concentrates on some coastal cities and districts. So, let’s look at the reasons why people buy Turkish real estate.

What are the Advantages of Having a Property in Turkey?

Citizenship: You can apply for Turkish Citizenship if you buy a property worth at least 250.000 USD. Please visit our How to Get Turkish Citizenship page for further information.
Low Taxes: Taxes are lower in Turkey than in many other countries. For instance, foreigners are exempted from VAT.
Strategic Location: Turkey has a perfect location in Europe and Asia that makes the country one of the transportation hubs all over the world.
Modern Property Architecture: A wide choice of brand-new homes with attractive and competitive prices.
Living Conditions: Cost of living in Turkey is much more reasonable than in any other European countries.
Climate: You can enjoy four seasons with perfect climatic characteristics as it should be in Turkey during the year.
Nature and Sea: Turkey is one of the greenest and bluest countries in the world with its unique nature. The country is surrounded by the wondrous mountains and seas.
Health Sector: Turkey offers continuously present Healthcare opportunities with very affordable prices.
Food: It goes without saying that everybody is fallen in love with Turkish cuisine.

The Steps To Buy a Property in Turkey

Decide what to buy or rent.
Decide you will buy it or rent it.
Decide you will buy it for investment, using, or living.
Decide your social needs.
Find the most proper city and location that best suits your needs.
Find a real estate agent, or contact us, or research by yourself.

Process of Buying A Property in Turkey

This process is very similar to the buying property process in European countries.

Required Documents

Your passport with one copy of it
6 biometric photo (in passport size) of the buyer
If you are buying or renting via a real estate agent, an official employee with a notary.
A bank account at a bank in Turkey
Turkish tax number

Expenses of the Purchase Process

Proxy around 100 Euro
Certified interpreter around 50 Euro
Transaction fee around %4 of the value of the property

Contract

A purchase agreement will be established and you will need to pay a deposit to the property owner at that moment. The amount of deposit is up to 10 percent of the property price. However, it may be different depending on the property.
After signing the agreement, it becomes binding. Please remember that if you change your mind and want to cancel your agreement later, you cannot get the deposit back. If the property owner wants to withdraw from the agreement, you can get the deposit back and apply the penalty clause.
After completing the agreement process, the transfer of title deed will be completed at the official Land Registry Office. Foreign buyers are required to have a certified interpreter with them.
You’ll need to pay the taxes and fees (around %4 of the total value of the property).
After completing the transfer of the title deed, you’ll need to pay the remaining price of the property to the seller.