Recently, Turkey has shown very rapid growth and stands out as a country that draws attention to the international market. We can say that the real estate sector has a very important share in this growth. When we examine this rapid growth observed in the real estate sector more closely, we can say that the interest of foreign investors in Turkey has increased. At this point, the first question that comes to mind is “Which countries are suitable for purchasing from Turkey?” The list of answers to the question of which countries are suitable for owning real estate in Turkey is quite long.
Foreign nationals’ purchase of a real estate in Turkey is subject to certain conditions. These conditions are obligatory by the Council of Ministers and must be complied with. If these conditions are met, foreign nationals can own real estate within the borders of Turkey.
Citizens of 195 countries can buy real estate in Turkey. The countries that can buy real estate from Turkey without restriction and permission from authorities such as the Ministry, provided that official restrictions are observed are as follows:
- Saudi Arabia
- the United States of America
- Bosnia and Herzegovina
- Burkina Faso
- the Dominican Republic
- Ivory Coast
- the Gambia
- the South Africa Republic
- South Korea
- United Arab Emirates
- North Korea
- South Korea
Who Can Buy Property in Turkey?
Until 2012, citizens of about 50 countries could not purchase real estate in Turkey within the scope of the ‘Reciprocity Law’. However, as of 19 May 2012, it has become possible for almost all citizens of the world to purchase real estate from Turkey within the scope of the changed law.
In addition to the relaxation in real estate purchases to foreign nationals, there are also several restrictions.
- It is not possible for the citizens of the countries that have a border with Turkey to acquire real estate from the Turkish provinces bordering their own country. For example, a Bulgarian citizen cannot buy real estate in Edirne and Kirklareli provinces. To give another example; Iraqi citizens cannot acquire real estate in Sirnak and Hakkari and so.
- The total area of the property to be purchased by a foreign national must not exceed 30 hectares. Even in different cities, it is obligatory to comply with the rule that the total area to be purchased should not exceed 30 hectares.
- Foreign nationals who will buy property in Turkey must first obtain permission from the military authorities. If the property to be purchased is within the borders of the security zone, the sale will not take place.
- Foreign nationals have the right to purchase property up to 10% of the total size of the administrative region where the property is located.
- In the purchased land or similar immovable property, for which the Ministry of Environment and Urbanization has not been notified about the construction of the building within 2 years, the liquidation procedure may be carried out by the relevant authorities.
- The real estate sales contract is made by the official form conditions required by the Land Registry Offices.
- The requested documents must be submitted to the official authorities completely and accurately. Incomplete or incorrectly submitted documents will prolong the processing process.
Which Nationalities Need to Get Additional Permission from the Ministry of Interior in Turkey Before Buying a Property?
Citizens of 16 countries whose names are on the list of countries that can own real estate in Turkey are required to obtain permission from the Ministry of Interior before purchasing real estate. Citizens of these countries are required to obtain this permit. Some of these countries can be listed as follows:
Foreign nationals can learn about which country’s citizens can purchase real estate in the Republic of Turkey by applying to the Turkish Embassies/Consulates and the General Directorate of Land Registry and Cadastre.
Which Nationalities Have Some Restrictions on the Type of Property They Can Buy in Turkey?
In Turkey, some of the countries included in the list published by the Council of Ministers have limitations in terms of the types of real estate they can purchase. Citizens of 31 countries on the list are only required to purchase land, residences, and workplaces within the borders of Turkey. These countries cannot buy agricultural land in Turkey. For example;
- Citizens of countries such as Albania are included in this limitation.
Within the scope of the Reciprocity Law, a Moroccan citizen can buy a house within the borders of Turkey. However, it cannot buy agricultural land or properties such as vineyards and gardens.
According to the Law of Reciprocity, an Egyptian citizen can buy a house within the borders of Turkey. However, it cannot buy agricultural land or properties such as vineyards and gardens.
According to the Law of Reciprocity, a Latvian citizen can buy a house within the borders of Turkey. However, it cannot buy agricultural land or properties such as vineyards and gardens.
According to the Law of Reciprocity, an Afghan citizen can buy a house within the borders of Turkey. However, it cannot buy agricultural land or properties such as vineyards and gardens.
Citizens of Albania will not be able to purchase land other than residences and workplaces.
Which Nationalities Are Not Allowed to Buy Property in Turkey?
Real estate sales in Turkey are not made in some countries due to political, security, and historical conditions. The situations that cause the blocking of real estate sales vary for each of these countries. The countries where real estate sales are not made in Turkey are as follows:
- South Cyprus,
What Kind of Property Can Foreigners Buy in Turkey?
Because of Turkey’s distinctive beauty, many tourists opt to become permanent residents. Tourists who come to the nation for a holiday want to buy a property in Turkey and investigate the market circumstances. Foreigners’ interest in purchasing property in Turkey has grown in recent years, particularly in the last few years.
Foreign citizens can become homeowners in Turkey if they meet the legal requirements. Obtaining a residence permit is not required when purchasing property in Turkey.
According to article 34 of the applicable law, the restrictions imposed on foreigners wishing to purchase a home in the country are as follows: Foreign people from certain countries can benefit from purchasing property in Turkey and acquiring limited real rights if they follow the rules. The scope of the ongoing limited real rights that they have gained, as well as the total size of the property that they have acquired, cannot exceed 10% of the district in which the property is situated, and 30 hectares per person nationwide.
Foreigners who invest US$400,000 in Turkish real estate are awarded citizenship. Middle Eastern people with significant salaries are interested in this practice since the required money is little, and Turkey is suited to the Islamic way of life. The cost of obtaining Turkish citizenship has been cut to US$400,000. Furthermore, applicants are awarded citizenship rather than just a residency permit. Applicants and their families obtain Turkish Republic identity cards 45-50 days after submitting their paperwork.
Turkish passports offer visa-free travel to 111 countries, which is one of the reasons Turkey stands out in international home sales. In recent years, Turkey’s real estate market has substantially expanded its inventory of studio apartments, residences, and villas. There are also several possibilities for a second-hand property, freshly constructed residences, and an off-plan property. You can view the real estate choices for sale in Turkey on the Realista Turkey website, which includes everything from villas in vacation villages to apartments in the city center.
What are the Advantages of Buying Property in Turkey?
Here are the advantages of buying a property in Turkey.
- Low tax in Turkey, the decision to cut taxes in Turkey is one of a series of choices impacting the real estate sector in Turkey and was reflected favorably in encouraging foreign investors to buy property in Turkey, which helped to the overall resurgence of the Turkish real estate market. Most major tax breaks are: exempting the foreign investor from the estate’s value-added tax.
- Acquiring a resident permit, which grants foreigners who own properties in Turkey for less than US$400,000 a yearly residency permission, also a real estate habitation permit is given in Turkey to the landlord, his wife, and any minor children under the age of 18.
- Property investment in Turkey is the cheapest real estate investment in Europe, with prices considerably cheaper than those in Europe and infrastructure and structure similar to established European countries.
- Due to the country’s economic activity and rapid urban development, as well as the strength of tourism in Turkey, which is best reflected in the periods and tourist seasons, as well as the demand for rental homes during those seasons, which is divvied up throughout the year, real estate investment in Turkey offers a profitable investment return.