Is it safe to buy property in Turkey?
Yes. There are many foreign home owners in Turkey, some of whom live here all year round, while others just use their homes for holidays.
At the turn of the century, when Turkey passed laws allowing foreigners to buy Real Estate in Turkey, the outdated system was a hindrance but these days, smooth-lined procedures and clear guidance, as well as advice, ensure foreigners are entirely in the driving seat.
Which nationalities can buy property in Turkey?
Up until 2012, many foreigners were restricted from buying property in Turkey because of reciprocal agreements. During 2012, The Turkish Tapu (Title Deed) law was amended, allowing more nationalities (including Russia and the UAE) the option to buy, as well as many other countries inside the EU. This allows foreign nationals from at least 183 foreign countries the option to own their own home in Turkey.
If you are not sure that your country can purchase in Turkey please contact us direct for further details.
Need to Know Turkish Property Law for Foreigners
The first aspect is to know what you can and cannot legally buy. According to the Turkish land registry law 2644, namely articles 35 and 36, a foreigner can purchase residential properties, commercial premises and land.
Restrictions that are in place include…
- No more than 30 hectares countrywide
- No more than 10% of the total area of a defined district.
- The property or land must not be within a military zone
Do I Have to Use a Lawyer?
No legal laws say you must use a lawyer, but we strongly advise you to acquire a lawyer who is thoroughly aware of the Turkish property law. Or, we at Oludeniz Homes can provide you with our independent Turkish lawyer who acts swiftly and professionally on your behalf. Contracts are drawn between buyer and seller making sure both parties adhere to Turkish Property Law. The cost of our own independent Estate Agent Lawyer is included in our costs.
As a foreigner, sales contracts need to be translated into your home country’s language, and when signing for title deeds at the land registry office, you are also legally obligated to use the services of a translator. This person must be officially accredited and licensed. Both the land registry and notary offices have lists of translators that they legally work with.
Do I Need Residency in Turkey?
No, it is not compulsory that you have Residency in Turkey . However this is a simple and low cost option to obtain if you wish to visit Turkey throughout the year.
Applying for Military Clearance
Most foreigners get alarmed when they find out they need military clearance, but it is nothing to be worried about. The check is done on the property and not the person, and your lawyer will carry out the process for you. In previous years, waiting for the clearance often took four to six months. The system has changed now though, and approval usually comes through within two to three days.
Can I Get Turkish Citizenship by Buying Property?
To get Turkish citizenship by buying real estate, the value of your new home should be at least 1 million USD, and you must keep it for three years.
Can I Rent Out my Property?
You can rent out your home, but two laws must be adhered to. If you plan to rent out short term, i.e. market it for holiday rentals, you must sign up to the GIYKIMBIL system. This involves registering the details of each person that stays in your home. The second is to pay income tax on rental returns and the local tax office in each district advises on how to declare your income.
If I Buy Property in Turkey, Can I Work?
Being a homeowner in Turkey doesn’t automatically entitle you to work legally. This is a separate process that needs a permit.
İf you have more questions or you would like to speak face-to-face , please do not hesitate to contact us