Turkey remains one of the most popular destinations for international property buyers, with Istanbul, Antalya and the Aegean coast attracting buyers from Russia, Ukraine, Iran, the Gulf and Europe. Here is an overview of the main steps involved. Rules change from time to time, so always confirm the details with the Land Registry (Tapu) office, a licensed lawyer or a licensed real estate agent before you commit.
1. Get a Turkish tax number
Every buyer needs a tax identification number, which is issued by a tax office on presentation of a passport. You will need it to open a bank account, sign contracts and complete the title deed transfer.
2. Check the property and the seller
Before paying a deposit, confirm that the seller is the registered owner, that there are no mortgages or legal restrictions on the property, and that the building has the necessary occupancy permit. Foreigners cannot buy in military or other restricted zones, and there are limits on how much land foreigners can own in a district.
3. Valuation report
Foreign buyers must obtain an official valuation (appraisal) report from a licensed valuation company. The report sets out the market value of the property and is required for the title deed transfer.
4. Earthquake insurance
Compulsory earthquake insurance (DASK) must be in place before the transfer can be completed.
5. Title deed transfer
The sale is completed at the Land Registry office, where the buyer and seller (or their representatives) sign in front of an official. A sworn translator must be present if the buyer does not speak Turkish. Title deed fees and taxes are paid at this stage.
Citizenship by investment
Foreigners who buy property worth at least $400,000 and commit to keeping it for three years can apply for Turkish citizenship. The process involves additional paperwork and checks, so specialist legal advice is recommended.
Practical tips
Use a licensed agent, avoid paying large sums before checks are complete, and keep records of all payments made through banks. Turkey Daily News will publish regular updates on rules and market data for international buyers.
This article is general information and not legal advice.
Sources
Photo: Harald the Bard / CC BY-SA 4.0, via Wikimedia Commons
