Many investors turn to owning real estate in Turkey due to the many advantages granted by the Turkish government to foreign property owners, in addition to the importance of real estate in real estate investment
The aim of this article is to talk about all the details of real estate ownership in Turkey and the benefits and related conditions that come with it.
Real estate law:
The Turkish government has amended the most important real estate ownership laws in Turkey with the aim of encouraging real estate investment and attracting foreign investors. The government has similarly canceled the ownership law, which prevents foreign nationalities from owning their real estate if their government does not allow Turkish citizens to own its real estate.
This amendment has contributed to opening new doors to large numbers of foreign investors.
Conditions for owning real estate in Turkey:
The Turkish government has set some conditions for the ownership of real estate by foreigners within Turkey, and we will mention them:
-The government has banned some nationalities from owning real estate in Turkey.
-A foreigner is allowed to own real estate with an area of no more than 30 hectares as a maximum.
-Foreigners are not entitled to own real estate near military points or security sites.
-Foreigners have the right to own real estate in an area of 10% of the total land area of this area.
Advantages of owning real estate in Turkey:
We will mention the most important advantages of owning real estate in Turkey with full notes related to each of them:
-Obtaining
:
Whoever buys a property in Turkey is allowed to apply for real estate residency provided that the value of the property is 75,000$.
The real estate residency is characterized by many other advantages that it in turn gives to the owner of the property, which are:
*Real estate residency is also granted to the owner’s wife and children under the age of 18 as his companions.
*The duration of the real estate residency is one or two years and it is renewable.
*A real estate resident is allowed to stay within Turkey legally and to move between states easily.
*Real estate residency grants its holder the right to travel to and from Turkey without losing its validity and without the need for a visa.
*It also grants him the right to benefit from the educational and health services available to Turkish citizens.
*The residency holder can own a private car in Turkey and register it in his name.
*It also allows him to invest in his own business while opening a bank account to receive and transfer funds through it.
One of the conditions placed on owning a property for the purpose of obtaining a real estate residency is that the property be residential.
-Obtaining Turkish citizenship:
One of the most important advantages of owning real estate in Turkey is to apply for Turkish citizenship and enjoy its many advantages. As for the conditions set by the Turkish government to own a property with the intention of obtaining citizenship:
*The value of the property or group of properties owned by a foreigner in Turkey is400, 000$.
*Real estate appraisal of a property or group of properties
*The property must be purchased from a Turkish person or a Turkish company.
*That the owner submits a pledge not to sell the property before the lapse of three years from the date of its purchase.
*The Turkish government did not set any conditions that determine the type of property that a foreigner is entitled to own, but rather left the options open to him.
We mention the most important advantages granted by the Turkish government to its holder:
* Enjoy the full rights available to the Turkish citizen.
*Citizens have the right to participate in and run for elections.
*The citizenship holder has the right to benefit from free educational services and discounts on some treatment processes available to Turkish citizens, in addition to benefiting from the health insurance system, as is the case of the Turkish citizen.
*The right to own, sell and buy within Turkey.
*Nationality holders are also entitled to work in government jobs and to benefit from the pension.
*Turkish citizenship allows dual nationalities, so the applicant for citizenship can keep his native citizenship in addition to Turkish citizenship.
We recall that the Turkish government amended a previous decision related to obtaining Turkish citizenship from owning real estate, reducing the required value from one million dollars to 400 thousand dollars, thus increasing the importance of owning real estate in Turkey beyond the importance of any other country due to the many advantages associated with Turkish citizenship.
-Obtaining a Turkish passport:
Whoever owns a property in Turkey and obtains Turkish citizenship can directly obtain a Turkish passport, which is more important than other international passports. Among the advantages of obtaining a Turkish passport,
we mention:
*The Turkish passport allows travel to 64 countries without the need for a visa.
*It also allows entry to 26 Schengen zones.
*It grants its holder the right to benefit from free grants and educational courses available to Turks only.
The Turkish passport opens new and global horizons for its holder.
-Living a life of luxury:
By owning a property in Turkey, you can have the opportunity to live in a distinguished country with a low cost of living, in addition to having all the elements of an integrated life with attention to all its educational, health and even recreational aspects.
-Profitable real estate investment:
By owning a property in Turkey, you can join the most important investment real estate markets in the world, which is characterized by a guaranteed and continuous return in light of the economic development that Turkey is witnessing, in addition to the great tourism importance it enjoys, as successful and guaranteed real estate investment is one of the most important advantages of owning real estate in Turkey .
What types of real estate is a foreigner allowed to own?
Foreigners are allowed to own various types oreal estate in Turkey such as apartments, villas, commercial real estate, agricultural and residential lands and other types.
This available diversity is one of the most important reasons that encouraged foreigners to own real estate in Turkey, because it gave them the comfort of choosing the investment they desire.
Real estate appraisal:
It is a document that includes all the details related to the property such as the area, location, finishes, services in the surrounding area and other details that justify its entitlement to the real value within the real estate market in Turkey, where the value due is mentioned in the report.
The Turkish government has placed condition to foreigners
on the of obtaining a real estate appraisal in order to own a property in Turkey, in order to create a safe investment environment away from any real estate fraud that leads the foreign investor to lose the property or lose his money as a result of not having sufficient experience or not knowing all the information related to of the real estate market in Turkey in addition to his lack of knowledge of all updates on the laws related to real estate.
Frequently asked questions about owning real estate in Turkey
-Do I need a residency in order to buy a property in Turkey?
No, you can buy the property without obtaining a residency.
-Can a foreigner buy real estate in Turkey in installments?
Yes, he can benefit from the installment offers available in Turkey, and whoever owns a property in installments enjoys the same advantages that are granted to those who pay in cash.
-Is it permissible to participate in owning the property in order to benefit from the advantages of owning real estate in Turkey?
No, the property owner must be one person.
-Is it possible to inherit the properties I own in Turkey?
Yes, Yes, the heirs have the right to benefit from real estate after the death of its owner, and it is distributed according to Turkish law, which does not differentiate between males and females. In the case of any dispute, they will be tried before the Turkish judiciary.
There are many additional advantages related to owning real estate in Turkey, which are linked to each other, and therefore the property owner in Turkey opens new doors to a new life full of success.
Zoom Real Estate company offers you:
-Free consultations and important tips to help you in the journey of buying a property in Turkey
–Luxury real estate for sale in Istanbul, Ankara and all Turkish cities.
–Apartments for sale in Istanbul suitable for Turkish citizenship.
-Helping you to obtain real estate residence and tourist residence in Turkey.
Zoom real estate is always here for you, contact us.
Related articles
The best real estate company in Istanbul
Buy a property in Türkiye
Real estate tax in Türkiye
Real estate offers for sale in Türkiye
When and where to invest in the Turkish real estate market?
Double your profits from real estate investment in Istanbul
Investment apartments in Istanbul
Green Turkish passport
Türkiye’s real estate opportunities are unique with Zoom Real Estate
Is it still the right time to own a property in Türkiye?
Investment options to buy an apartment in Istanbul
The finest areas of Asian Istanbul
Obtaining Turkish citizenship for $400,000
Prices of apartments in Istanbul
#Turkey_apartments #real estate_investment #Zoom_prorperty
#Turkish_citizenship #buy_real estate #Istanbul_real estate
