Turkey is the most promising country in terms of the real estate market in Europe, especially for its unique geographic situation. Located between Europe and the Middle East, connecting central Asia to Europe makes Turkey full of great real estate investing opportunities.
The geographical advantages are remarkable, and the people of Turkey catalyze these with the values and regulations of the economy. There have been significant technological transformations in industries, leading to benefits to the sector of real estate.
Yet, buying a house in a foreign country may seem like a complex procedure to you. Besides, not being familiar with real estate law in Turkey and feeling of lack of control over the process makes it difficult for buying a house in Turkey as a foreign investor.
As Bari Global, Turkey’s most reliable investment consultancy company with its dedicated law consultancy department, we aim to make everything clear for our clients. In this article, we will be going through some details about the legal processes of buying a house in Turkey:
Legal Processes: Buying a Property in Turkey
Playing by the rules of real estate investment processes, we gather the most important details that every real estate investor should know before finding a property in Turkey. Meanwhile, you can also check our blog website to check the “How to buy a property in Turkey” guide on our website.
General Turkish Real Estate Laws
With foreign investors flowing into the Turkish real estate market, the Turkish government enacted laws to support the investors and made some legal changes in the process of buying a house in Turkey. Now we take a look at the updated laws of property purchases;
- Foreigners can purchase property and land in Turkey in their names provided that properties are located within towns, not villages or rural areas or near the military zones.
- Foreigners who purchased properties worth over $400.000 can be eligible to acquire Turkish citizenship. For more information about acquiring Turkish citizenship by investment, you can check our blog page.
- Those who have acquired Turkish citizenship by buying properties cannot sell their properties for 3 years.
- A public notary is responsible for the correct settlement and contract. Therefore, in all kinds of property registrations, you need to acquire the deed from the Property Registry Department in Turkey.
Before Buying a House in Turkey
We will discuss the most significant legal details that every foreigner must do before buying a property.
Obtaining Evaluation Report of Real Estate
Without an evaluation report of real estate, deed transfer cannot be realized. Thus, the evaluation report should be obtained beforehand. The cost of the evaluation report is usually paid by the customer.
Getting Title Deed
For title deed transactions, it is required to get an appointment online (e-Randevu) or via ALO 181. Acquiring the needed documents for the title deed by checking the message received, the buyer should be at the land office at a determined time.
Calculating Additional Costs
The price of real estate is the amount demanded by the seller, and this is the biggest expense you will make when investing in real estate.
In addition, you should not forget the extra costs that may arise as title deed fee, property tax, subscription costs, DASK (Compulsory Catastrophe Insurance), Environmental Tax, painting, renovation, and changing the door locks.
Working with Professional Real Estate Consultants
Legal consultancy before doing any kinds of investments in a foreign country is a must,
With the right agency, you can get the general guidance suitable for your real estate investment type, Bari Global’s legal department is ready to give the best consultancy available for clients, plus we provide a bunch of other free-of-charge services that you can benefit from.
Get Your Free of Charge Legal Consultancy Now!
When it comes to the legal services that Bari Global provides, such as acquiring Turkish citizenship and investment ideas, there are legal consultants and attorneys ready to help to ease the legal process.
At Bari Global, we tend to answer the needs of our clients with many top-of-the-line properties, exclusive sea view or forest view house options, and walking through ‘before-after purchase processes’ with them. So they can enjoy their investment by knowing the presence of professional help.
Frequently Asked Questions
1. Can a foreigner buy a house in Turkey?
By Turkish law, every foreigner can buy property in Turkey, provided that properties are located within towns, not villages or rural areas or near military zones.
2. Who can not buy property in Turkey?
Citizens of Yemen, North Korea, Syria, Cuba, Armenia, and Nigeria are prohibited from buying land or property in Turkey.
3. Do you need a lawyer to buy property in Turkey?
Turkish law doesn't oblige the investors to have a lawyer when purchasing a property but it is advised to get professional and legal help in the process.
4. Is it worth buying a property in Turkey?
Turkey is the most promising country in terms of the real estate market in Europe, especially for its unique geographic situation. Centered between Europe and the Middle East, connecting central Asia to Europe makes Turkey full of great real estate investing opportunities.