After the revision of the law restricting foreign real estate ownership in 2012, nationals from more than 129 countries are allowed to invest in Turkish real estate. Nevertheless, we need to remind that foreign national’s real estate in a Turkish town cannot exceed 10% of the town’s land area, and a foreign individual cannot acquire more than 300,000sqm of property without first obtaining clearance from the Turkish ministry of interior.
Foreign nationals from these countries are allowed to purchase property: USA, Germany, Argentina, Australia, Belgium, Belize, Benin, Bosnia and Herzegovina, Brazil, Bulgaria, Burkina Faso, Burundi, Chad, China, Denmark, Dominican Republic, Estonia, Republic of Cote D'Ivoire, Finland, France, Gabon, Gambia, Guinea, South Africa, South Korea, Georgia, Croatia, Holland, United Kingdom, India, Ireland, Iran, Iraq, Spain, Sweden, Switzerland, Italy, Canada, Kenya, Northern Cyprus, Colombia, Kosovo, Libya, Lebanon, Luxembourg, Mali, Moldova, Monaco, Namibia, New Zealand, Niger, Nigeria, Norway, Palestine, Pakistan, Poland, Portugal, Peru, Romania, Serbia, Slovakia, The United Arab Emirates, Saudi Arabia, Lebanon, Kuwait, Azerbaijan, Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan, Yemen
Foreign nationals from these countries are not allowed to purchase property: Armenia, Syria, North Korea, Cuba
Foreign nationals from these countries will experience certain restrictions: Jordan, Israel, Fiji, East Timor
Foreign nationals who will face certain restrictions based on the type of property: Morocco (agricultural land not allowed), Egypt (agricultural land not allowed), Latvia (agricultural land not allowed), Afghanistan (agricultural land not allowed and have to obtain special permission for other types of property), Albania (only allowed for residential property and office space)
The purchasing process explained step-by-step
1.Research
Make your own research to determine which location of Istanbul best meets your requirements, budget, and desired type of investment. We will also give you with thorough and candid information about best locations in the city. We will also direct you to the finest resources for legal and technical information on buying property in Turkey.
2.Get the perfect agent to guide you
When shopping for a home in Turkey, we recommend taking a look at several websites and comparing different real estate brokers. Make sure that they are familiar with you and your needs. If you ever get the impression that they're reading from a script (and there are a lot of them), you can be sure that they are not the best representatives for you. Purchasing an overseas estate is more of a lifestyle choice for most people, therefore the agent you work with must understand and respect the lifestyle you are seeking or share your vision. If they can’t, they won't be able to guide you to the best place and provide convenient investment opportunities for you.
3.Interact with your agent and build up a nice dialogue
Once you’ve determined that you've located a trustworthy agent, take the time to speak with them in depth. Learn about them and allow them to learn about you.
Developing a good relationship with our clients is extremely important to INV PRO. We begin by listening to you, and then we determine together where to search and what sort of real estate to purchase.
4.Come and see Turkey
To determine whether to purchase a property in Turkey, we recommend you to come and see the country, familiarize yourself with the area, and sample the local restaurants. INV PRO aspires to sell you a way of life, a dream location, and exquisite environment in which you will feel at ease and at home. Be wary of anyone who attempts to sell you real estate over the phone without seeing it first.
5.Inspect potential real estate investments in the region
A well-organized inspection trip with a trustworthy agent will greatly assist you in your real estate pursuit. It is a better strategy to spend at least four days with us touring several properties, organizing paperwork, and becoming acquainted with the environment and way of life.
6.Learn about different options
We will introduce you many houses as possible in as many areas as possible, in a wide price range, and guarantee you get the best deal possible. We will have scouted out lots of properties in Turkey for you to see during our early phone calls, emails, and potentially face-to-face meetings prior to your viewing trip.
7.Be open to negotiate on the price and during the purchase process
Because of our wide networks and relationships, we are able to obtain large discounts from sellers. Our job is to get you the best price available. When planning for your purchase, do not forget about the additional expenditures specific to Turkey.
8.Reserve and control the price
As your advisor, we will contact with the seller and reserve the property for you. Approximately %5 (non-refundable) is paid to the seller as a reservation deposit, which is subtracted from the decided purchase price.
Note that if you reserve a property and then decide not to buy it, the reservation deposit is forfeited.
9.To end the purchase process authorize a solicitor (through attorney)
By this way, you will save your time, shorten your stay in the nation, and ensure that your purchase will process without a hitch. We have worked with several competent and highly recommended solicitors at INV PRO, and we will introduce you to one during your inspection trip. Of course, you are free to choose your own lawyer.
10.Check the property for one last time
The transaction should be finalized in four weeks after contracts are signed. In this time frame, your assigned solicitor will check all the crucial details.
11.Get your title deed (TAPU)
As soon as we handle the paperwork, and both parties (the seller and the buyer) fulfill their obligations in the contract, you will obtain the title deed (bearing your name) of your new property in Turkey.
Road to Purchase Property in Turkey
Who can buy?
After the revision of the law restricting foreign real estate ownership in 2012, nationals from more than 129 countries are allowed to invest in Turkish real estate. Nevertheless, we need to remind that foreign national’s real estate in a Turkish town cannot exceed 10% of the town’s land area, and a foreign individual cannot acquire more than 300,000sqm of property without first obtaining clearance from the Turkish ministry of interior.
Foreign nationals from these countries are allowed to purchase property: USA, Germany, Argentina, Australia, Belgium, Belize, Benin, Bosnia and Herzegovina, Brazil, Bulgaria, Burkina Faso, Burundi, Chad, China, Denmark, Dominican Republic, Estonia, Republic of Cote D'Ivoire, Finland, France, Gabon, Gambia, Guinea, South Africa, South Korea, Georgia, Croatia, Holland, United Kingdom, India, Ireland, Iran, Iraq, Spain, Sweden, Switzerland, Italy, Canada, Kenya, Northern Cyprus, Colombia, Kosovo, Libya, Lebanon, Luxembourg, Mali, Moldova, Monaco, Namibia, New Zealand, Niger, Nigeria, Norway, Palestine, Pakistan, Poland, Portugal, Peru, Romania, Serbia, Slovakia, The United Arab Emirates, Saudi Arabia, Lebanon, Kuwait, Azerbaijan, Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan, Yemen
Foreign nationals from these countries are not allowed to purchase property: Armenia, Syria, North Korea, Cuba
Foreign nationals from these countries will experience certain restrictions: Jordan, Israel, Fiji, East Timor
Foreign nationals who will face certain restrictions based on the type of property: Morocco (agricultural land not allowed), Egypt (agricultural land not allowed), Latvia (agricultural land not allowed), Afghanistan (agricultural land not allowed and have to obtain special permission for other types of property), Albania (only allowed for residential property and office space)
The purchasing process explained step-by-step