Buying property in Turkey as a foreigner has become increasingly popular in recent years due to Turkey's thriving real estate market, strategic location, and lifestyle offerings. With the right guidance and legal framework, foreigners can easily purchase real estate and secure long-term investments. In this article, we provide a comprehensive guide on how foreigners can buy property in Turkey, including legal procedures, ownership rights, and taxes involved.
Can Foreigners Buy Property in Turkey?
Yes. Citizens of most countries are legally allowed to purchase real estate in Turkey, subject to reciprocity and regional restrictions. However, some foreign nationals may be restricted from owning property in military or security zones. The Ministry of Foreign Affairs and the Land Registry General Directorate provide updated lists on eligible nationalities.
Legal Steps to Buying Property in Turkey
- Choose a Property: Work with a reputable real estate agent or developer to select a suitable property. Whether it’s an apartment, villa, or commercial unit, ensure the project is legally approved.
- Obtain a Tax Number: Foreigners must get a Turkish tax number from the local tax office to complete transactions.
- Open a Turkish Bank Account: Required for transferring funds for the property purchase and paying applicable fees.
- Sign a Sales Contract: This outlines payment terms, deadlines, and the responsibilities of both parties.
- Title Deed Transfer (TAPU): Finalize the purchase by registering the deed with the Land Registry Office. Both parties must be present, or you can assign a Turkish property lawyer with Power of Attorney to handle this step.
Ownership Rights and Title Deed (TAPU)
The title deed, known as "TAPU" in Turkey, is the official document that proves ownership. There are two types of title deeds:
- Blue TAPU: Agricultural land
- Red TAPU: Residential or commercial units
Make sure the TAPU is clear of encumbrances like mortgages or legal disputes. Conducting due diligence with the help of a Turkish lawyer is strongly advised.
Property Taxes in Turkey
Foreign property buyers in Turkey are subject to several taxes and fees:
- Title Deed Transfer Tax: 4% of the property value (usually split 2% buyer and 2% seller)
- Annual Property Tax: Ranges from 0.1% to 0.6% depending on property type and location
- Value Added Tax (VAT): May apply for new builds; however, some foreign buyers are exempt
- Stamp Duty and Notary Fees: Additional minimal costs
Can You Get Residency by Buying Property in Turkey?
Yes. Foreigners who purchase real estate worth at least $200,000 in metropolitan cities (or $75,000 in smaller towns) may qualify for a short-term residence permit. For a long-term solution, investing at least $400,000 in property may qualify you for Turkish citizenship by investment.
How Istanbul Lawyer Firm Can Help
Our Turkish Law Firm has extensive experience helping foreigners legally acquire real estate in Turkey. From contract drafting to due diligence and title transfer, our Turkish lawyers ensure a secure process. We are especially suited to serve international clients with our English-speaking team.
Whether you’re buying for residence, investment, or citizenship, Istanbul Lawyer Firm is your trusted partner in Turkish real estate law.
Read our previous article: White-Collar Crimes in Turkey