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Who can buy a real estate in Turkey?
Foreign nationals (real persons)
According to the law on ‘property purchase by foreigners in Turkey’ enacted on January 7, 2006, foreign nationals (real persons) are able to acquire real estate in Turkey on the conditions of being reciprocal and complying with legal restrictions.
Foreign companies
According to the law on ‘property purchase by foreigners in Turkey’ enacted on January 7, 2006, foreign commercial companies having legal personality established in foreign countries according to the laws of those countries are able to acquire real estate in Turkey on the conditions of being reciprocal and complying with legal restrictions.
Companies established/participated by foreign nationals (FDI Companies)
Companies can freely acquire real estate or limited rights through a legal entity established or participated in Turkey by foreign investors provided that such acquisitions are permitted for Turkish citizens.
What is the legal framework for property ownership?
The Constitution, the relevant provisions of the Civil Code, the Title Deeds Act, the Foreign Direct Investment Law and the relevant legislation form the legal framework which enables foreign people or corporate entities to buy real estate in Turkey.
Are Turkish citizens and foreigners treated differently?
According to the legal framework mentioned above, both Turkish citizens and foreign owners have equal property-ownership rights.
Are properties in Turkey Freehold or leasehold?
In general, properties in Turkey are of Freehold type.
What Types of residential buildings are available?
There is a wide range of options such as detached, semi-detached and terraced houses, purpose-built apartments and luxury villas. Quality residential buildings are available everywhere in Turkey.
When you make a decision about buying your property of choice, we will prepare your sales contract. At this stage you will need to pay a minimum deposit of 1000 Euro (or equivalent amount in an alternative currency) to secure your property. If you have already arranged your finances prior to visiting Turkey, then we will move forward to confirm a payment plan with you in agreement with the developer/owner. However, If you would like to arrange your finance in Turkey you will be able to speak to our financial advisor about mortgage options in Turkey.
Money Transfers
Once you have a payment plan in place, your next step will be to transfer the money to the developer/owner at the agreed timeline. In general most of our properties are listed and paid for in the Euro currency. If your funds are already in Turkey then you will be able to pay directly in cash to the developer/owner. However if your funds need to be transferred from your country then you can simply arrange a direct transfer from your bank account. However, if your currency needs to be exchanged to Euros then you will need to find a suitable foreign exchange dealer in your country who is able to exchange your money at a competitive rate. Once your money is exchanged into Euros, your dealer will be ready to transfer the money directly to the developer/owners account. Please contact us about our recommended currency exchange professionals.
Final step - Stop dreaming and start buying
Turn your dream into a reality; thousands of foreigners are purchasing properties in Turkey every year, pushing up the property prices by demand. So have your share of the advantages, after all they cannot all be wrong.
