Turkish real estate attracts investors from all over and encourages real estate ownership in Turkey, not only for foreigners but also for Turks themselves and the facilities that the Turkish government constantly provides and the advantages that you will get when owning a property in Turkey, such as Turkish citizenship, have helped to increase the value of Turkish real estate significantly recently.
In this article, we will talk about owning real estate in Turkey, what are its requirements, what are its advantages, and what are the documents required to obtain your new property in Turkey.
Steps for real estate ownership in Turkey 2024
Communicate with a company that provides services in the field of real estate in Turkey that has credibility and a good reputation.
Receive offers from the company to learn about the available offers that suit your goal and budget.
Visit the real estate offered on the ground and determine the negatives and positives.
Obtain a real estate evaluation report
Concluding a purchase contract with the real estate company.
Currency conversion: Foreign currency is sold to the Turkish Central Bank through an intermediary bank, where it is exchanged for Turkish currency, and then the value of the property is transferred in Turkish lira to the seller’s account via the same intermediary bank.
Book an appointment at the Land Registry and Real Estate Survey Directorate in order to register the property and transfer real estate ownership in Turkey
Delivery of the title deed: if the property is ready for receipt
Delivery of the easement title deed if the property is under construction, where the buyer receives the easement title deed as a form of guarantee of his rights until the completion of construction work.
Documents required for real estate ownership in Turkey
After learning about the steps of real estate ownership, you must know the documents required to complete the buying and selling process without any legal problems and the required papers are:
The tax number is obtained free of charge from the Turkish Tax Department.
A valid passport and a copy of it translated into Turkish and certified by the Turkish notary.
Real estate appraisal report.
The property purchase contract is certified by the Turkish Notary.
Receipt of sale of foreign currency to the Central Bank of Turkey.
A receipt for transferring the value of the property in Turkish Lira to the seller’s account.
What is on the real estate valuation report in Turkey
Among the documents required for real estate ownership in Turkey is the real estate evaluation report, which is a document that shows the value of the property in the market according to specific standards, as it is impossible to register the property with the land registry in the name of the new buyer without presenting the real estate evaluation report.
The report is valid for 90 days from its issuance and is requested from the “Tapu Web” website or application, or by companies licensed to issue it, or by a committee affiliated with the Tabu Directorate.
Reasons for the rise in Turkish real estate
After learning about real estate ownership in Turkey, its steps, and the required papers, it is time to learn about the reasons that led to the high demand for Turkish real estate and transformed the Turkish real estate market into one of the strongest and most prominent real estate markets in the world:
The Turkish government has strict laws regarding the application of earthquake-resistant building standards, as the Turkish real estate market has become characterized by properties equipped with building systems that enjoy durability and quality.
The best modern urban models in Turkey that focus on luxurious designs and quality construction, and providing security, social, entertainment and technological services, including smart home technology.
A law was issued allowing most foreign nationalities to own real estate in Turkey.
Investors in Turkish real estate enjoy continuous government support, which has contributed to facilitating the necessary procedures and steps for real estate ownership in Turkey, and providing various benefits to investors, including tax reductions and exemptions.
Real estate taxes in Turkey are competitive and flexible
The huge profits made by investors in the Turkish real estate market
Thanks to Turkey's flexible real estate ownership laws that enjoy continuous government support, Turkey has become one of the best destinations for real estate investment in the world and with recent developments in infrastructure and construction quality, the Turkish real estate market is an ideal opportunity to acquire solid and profitable properties and choosing Turkey for real estate investment represents an informed decision that combines natural beauty with promising economic opportunities.
