Laws Regarding Buying and Selling Property in Turkiye
Turkiye generally follows a reciprocity principle. This means that citizens of countries that allow Turkish citizens to buy property in their own countries are also allowed to buy property in Turkiye. However, this principle has been subject to changes, so it’s essential to check the latest regulations.
Foreigners can buy various types of properties, including apartments, houses, and commercial real estate. However, there may be restrictions in specific regions, such as border areas.
Certain areas in Turkiye are designated as military zones, and foreigners are not allowed to buy property in these areas. It’s crucial to verify the status of the property you intend to purchase.
There might be restrictions on the maximum size of the property foreigners can buy, depending on the location.
The title deed (TAPU) is the official document proving property ownership in Turkiye. Foreigners can obtain TAPU in their name. Still, it’s advisable to work with a qualified real estate agent or legal advisor to navigate the process correctly.
Owning property in Turkiye doesn’t automatically grant residency. Foreign property owners need to apply separately for a residence permit if they intend to live in Turkiye.
7.Taxes and Fees:
Foreign property buyers are subject to various taxes and fees, including property transfer tax and title deed registration fees. These can vary depending on the property’s value and location.
For more information about the laws regarding buying and selling property for foreign nationals in Turkiye, please contact the “With Us” section of the Commerce Group. We can provide you with up-to-date information on the terms and processes related to buying and selling real estate in Turkiye as a foreign citizen. Contact us for expert advice and support in navigating the Turkish real estate market.