Real estate values in the Republic of Turkey, particularly in cities such as Istanbul, Antalya, and Izmir, increase steadily every year. Considering both its geopolitical location and the profit margin offered by real estate purchases, our country has become one of the most preferred countries in the world for real estate purchases. For this reason, in today’s article, we will outline the conditions required for a foreigner to purchase real estate in Turkey and the relevant legal process.
1- Requirements for Foreigners to Purchase Real Estate in Turkey
• The real estate to be purchased must be located outside of restricted military zones.
• It is mandatory to be a citizen of one of the countries specified by the Council of Ministers. Before purchasing real estate, individuals can contact the General Directorate of Land Registry and Cadastre or Turkish Embassies/Consulates to find out whether their citizenship is eligible for purchasing real estate.
• Citizens of countries bordering Turkey cannot purchase real estate in any of the Turkish cities adjacent to their country.
• Foreigners may acquire real estate up to a maximum of 10% of the total area of the administrative region where the property is located, as required by law.
• Before purchasing real estate, permission must be obtained from the relevant military authorities in the area.
• Pursuant to the relevant Decision published by the Council of Ministers, foreign nationals from the provinces of Hatay, Kilis, and Mardin shall not be able to own any real estate or limited real rights.
• Commercial companies established in foreign countries with legal personality under their own laws may only acquire real estate and limited real rights within the framework of special legal provisions. Entities other than these commercial companies cannot acquire real estate, and limited real rights cannot be established in their favor.
2- Rights Foreigners Can Acquire in Turkey Through Real Estate Purchase
• If there are no obstacles to foreign nationals purchasing real estate in the Republic of Turkey within the framework of legal requirements, they can become property owners without needing to obtain a residence permit.
• Foreign nationals who purchase real estate in the Republic of Turkey are entitled to a renewable short-term residence permit.
• Individuals or legal entities wishing to purchase real estate in the Republic of Turkey must apply to the Land Registry and Cadastre Directorate together with the owner of the property as shown in the title deed.
• Additionally, a foreign individual who purchases real estate worth at least 400,000 US dollars or the equivalent in foreign currency, subject to the condition that it cannot be sold for at least 3 years, is eligible to become a Turkish citizen if determined by the Ministry of Environment, Urbanization, and Climate Change.
As ECY Law, we provide consultancy services from the very first step of the legal procedures required for our foreign clients to acquire real estate in our country; we support you in complex processes. We are happy to answer any questions you may have regarding the properties you wish to acquire in Turkey and to provide you with all kinds of legal support.
