With its economic stability and determined stance against the dollar in recent years, Turkey never harms investors and is an indispensable address for investment, as it is a attraction pointas well as its natural beauty like Istanbul and Bursa.

The heart of the Turkish real estate market is Istanbul and its surrounding cities. Real estates in Istanbul and the surrounding cities increase an average of 20% in value and these real estates can be converted into money in a very short time. For this reason, you will never lose money paid in return for investments made in real estate.

Number of residences purchased by foreign investors in the last 3 years

Turkish law recognizes lands registered in the land registry, independent and permanent rights (such as usufruct) and independent sections registered under the Property Ownership Law as real estate. An individual or legal person can own the property in the form of full ownership, joint ownership or co-ownership. 

Ownership may be inherent in a right or a right of easement. Simple ownership is the most common type of ownership, this is followed by joint ownership and co-ownership. Joint ownership and co-ownership shows difference about the disposition of ownership;

Co-Ownership; Unless otherwise agreed, co-ownership cannot sell its shares without the consent of other common owners.

Joint Ownership; all legal rights to ownership belong to the owner of the property. According to Turkish law, it is the broadest right on real estate that gives the right to freely use (usus), to benefit (fructus) and to dispose of the property (abusus). On the contrary, easement rights are limited to the rem. Usufruct gives the beneficiary the right to freely use the benefits of the property and benefit from these, however, the lessor cannot dispose of the property.

1. 1. First, you have to make a decision to buy a or a few property with a total value of more than 400,000 USD.
   2. In order to determine that the real estate to be purchased is over USD 400,000, a report will be obtained from the CMB approved Real Estate Appraisal Company.
   3. An application is made to the Land Registry Directorate with the necessary documents for the sale of the real estate.
   4. The land registry office checks the valuation report and the compliance of the declared information with the criteria specified in the law.
   5. If the necessary conditions are fulfilled, the relevant person will be notified via SMS about the deed transfer fee and the revolving fund payment that must be paid for the transaction.
   6. After the payment of the fees, the appointment time for the signing of the contract is notified via SMS.
   7. After the transfer is completed at the title deed, a statement will be recorded indicating that the property cannot be sold for three years and the title deed of the property will be delivered to the foreign investor.
   8. After the completion of the transaction, the land registry office sends the documents to the higher unit in order to give a “certificate of conformity” for the citizenship application.
   9. Afterwards, a certificate of conformity is issued.

Title deed showing the village / district, section, parcel, building, independent unit information of the property,

Passport (with translated copy if necessary).

For determining the nationality of the foreigner, their country identity card,

Real estate appraisal report prepared by any of the institutions authorized by the Capital Markets Board (CMB)

“Real Estate Fair Value Certificate” obtained from the municipality to which the real estate is affiliated.

Compulsory earthquake insurance for building / house / flat / shop / office,

One photo of the seller and two photos of the buyer (taken in the last 6 months at 6 × 4 size),

If there is a side that cannot speak Turkish, a sworn translator approved by the judicial authorities,

If this action is to be carried out with a power of attorney issued abroad, the translation and original or certified copy of the power of attorney.

Title deed showing the village / district, section, parcel, building, independent unit information of the property,

Passport (with translated copy if necessary).

For determining the nationality of the foreigner, their country identity card,

Real estate appraisal report prepared by any of the institutions authorized by the Capital Markets Board (CMB)

“Real Estate Fair Value Certificate” obtained from the municipality to which the real estate is affiliated.

Compulsory earthquake insurance for building / house / flat / shop / office,

One photo of the seller and two photos of the buyer (taken in the last 6 months at 6 × 4 size),

If there is a side that cannot speak Turkish, a sworn translator approved by the judicial authorities,

If this action is to be carried out with a power of attorney issued abroad, the translation and original or certified copy of the power of attorney.

In terms of Restrictions on Foreigners, the President has the right to restrict, inter alia, their acquisition of real estate because the total area acquired by foreigners in some locations for the purchase of real estate exceeds certain limits. 

As a general practice, real estate acquisition by non-Turkish citizens in or near military zones and in other security zones is not permitted. In addition, if a country that is not a Turkish citizen acquires an undeveloped real estate, it must submit a project within 2 years after the acquisition and this development must be completed within the time frame determined by the Ministry.

Foreigners cannot acquire property in military forbidden zones to the Law No. 2565 on Military Forbidden Zones and Security Zones.

A foreign natural person can acquire a maximum 30 hectares of property and limited real rights. The President can increase this quantity up to twofold.

The total area of ​​the properties acquired by foreign real persons, including real rights, cannot exceed 10 percent of the surface area of ​​the area of ​​the property in question.

Properties in strategic areas and security zones defined by the Presidency as areas where foreign real and legal persons cannot acquire property cannot be purchased by foreigners.

If the area you will invest in is a land without buildings, you can invest in the area in question. However, some time definitions are made in the law regarding construction and building construction in the said area.

If you want to build a building in the ongoing process in the area you want to invest in, you must apply to the relevant ministry for this project for 2 years and have your project approved. After you have this project approved, you will be given a period of time by the relevant ministry to implement the project.

The 2-year period starts from the date the land is transferred to you. (The regulations for extending the time period can be extended if the relevant ministry is consulted)

Acquisition of non-Turkish individuals Until 2012, non-Turkish citizens were only granted the right to purchase real estate if Turkish citizens were allowed to acquire real estate, pursuant to the Principle of Reciprocity. However, following a change in the legislation, the principle of reciprocity has been lifted and citizens of the countries, which are now listed by the President, can obtain immovable property and rights in Turkey, subject to some restrictions as explained below. This list is quite extensive, covering almost every developed country in the world.

Türk olmayan bireylerin kazanımı 2012 yılına kadar, Türk vatandaşı olmayan kişiler ancak Karşılılık İlkesi uyarınca, Türk vatandaşlarının gayrimenkul edinmesine izin verilmesi halinde gayrimenkul alım hakkı verilmekteydi.. Ancak mevzuattaki bir değişikliğin ardından mütekabiliyet ilkesi kaldırılmış ve şimdi Cumhurbaşkanı tarafından listelenen bu ülkelerin vatandaşları, aşağıda açıklandığı gibi bazı kısıtlamalara tabi olarak Türkiye’de taşınmaz ve haklarını alabilirler. Bu liste, dünyadaki neredeyse her gelişmiş ülkeyi kapsayan oldukça kapsamlıdır.