Advantages of Becoming a Homeowner in Turkey for Foreign Nationals

Foreign Nationals have the freedom to buy housing in Turkey.   Becoming homeowner in a country like Turkey where real estate and construction sector are very vibrant is also good investment method. Now, look at some advantages of becoming homeowner in Turkey for foreign nationals.

You will have a Durable and Quality House

Turkey has been experiencing a great transformation at construction and real estate area in recent years. Therefore, newly constructed houses should exceed certain quality standard. Especially in newly constructed houses, smart home technologies are used, measures required for natural disasters like earthquake are taken. We can say that all of these are an indication that the house you will buy will become a smart investment tool both now and in the future.

You have countless option

Housing eligible for each enjoyment and each budget is found in Turkey. Among many options like separate house, flat, residence, summer cottage, farmhouse, villa, etc. you can choose the one most convenient to you. If you purchase house in metropolitans such as İstanbul, Ankara, İzmir, Antalya, etc. you can take advantage of the social, cultural and economic opportunities these cities offer. However, as with many investors, by purchasing house in southern coasts, you can always enjoy breath taking Turkish coasts, the sun, sea, forest. You only want; possibilities in Turkey are close to endless…

You obtain Regular Rental Income

Let us assume, you have purchased housing in Turkey but you want to continue living in your country. In this case, remaining empty of your housing in Turkey is nearly impossible. Because, thanks to increasing population, there is need house to let termly in Turkey. Therefore, you can rent your house for the periods you do not utilize and get regular     rental income.

Neighbourhood Relations in Turkey are Excellent

Turkish people are friendly and attach great importance to neighbourhood relations. In the building at which you become a homeowner, you can set up long-termed friendships. Thus, when you are not even at home, you do not leave with something left undone. In case of presence of any problem, you have friends to trust. But one point should be noted: good neighbourhood relations never mean that your private life will be intervened.

You can gain Turkish Citizenship Right

According to the law coming into force recently, the foreign nationals who purchase immovable valued at minimum 1 million Dollars in Turkey will have Turkish citizenship right. In other words, by buying housing in turkey you can become both homeowner and Turkish citizen.

What to do to purchase property in Turkey by Foreign Nationals?

Foreign nationals can purchase immovable like housing, workplace, land, field, etc. provided that they comply with the limitations indicated in the law. If foreign national is to buy land or field, he/she should inform Ministry of Environment and Urbanization in two years about what type of a house he/she will construct on this land.

What are the restrictions for foreign nationals to purchase property?

According to relevant law, the following restrictions are valid in terms of buying property by foreign nationals:

  1. a) a foreign national can purchase maximum 30 hectare immovable across Turkey.
  2. b) a foreign national cannot buy property in military forbidden zone and security zones. Rental is only possible with special permit.
  3. c) Foreign persons can obtain immovable and limited real right up to 10% of surface area of the county which subject to private ownership.
  4. d) The properties which are determined not to have been used for the purpose of purchasing by legal institutions, no information is not given about type of structure to Ministry of Environment and Urbanization in 2 years in spite of being bought to construct building can be discharged by official institutions.
  5. e) The aforesaid restrictions are invalid for the companies having legal entity which are founded in line with the laws in their countries.

What kind of procedure should be followed to purchase property ?

Pre-application should be made to directorates of land registry for transfer transactions. Sequence number should be taken for pre-application. The phone no.181 may be called for that, application may be made over the address https://randevu.tkgm.gov.tr.

Following pre-application, a day is named for the person who will sell and buy property.

In named day, the following certificates should be prepared:

  • Title deed certificate of immovable
  • Passport and its copy of the person who will buy (Turkish translation may require)
  • “Current Value Certificate for Property” to be taken from the municipality at which real estate is located
  • Mandatory earthquake insurance policy for the buildings like housing and workplace, etc.
  • 1 pcs passport photo of selling person, 2 pcs passport photo of buying person
  • Sworn translator, if buying person does not know Turkish
  • If transfer transactions are conducted via the power of attorney issued abroad, original or certified copy of power of attorney (to be translated into Turkish)

Other Points to Consider

You should certainly learn if any restrictions like mortgage, attachment, etc. are available on immovable property. You can get necessary information from directorate of land registry about this matter. Foreign nationals should have residence permit to rent a house in Turkey. However, no residence permit is needed to buy property. Working with expert and professional real estate companies is always for the benefit of buyer. Therefore, we suggest you to receive help from the real estate and consultancy companies which are expert in buying property.

 

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