Investment Guide

Who Can Get Property
in Turkey?

With the exception of some countries (Syria, Armenia, Cuba, North Korea), every citizen has the right acquire property in Turkey. However, the total size of the land cannot exceed 300,000 m2 per investor. In addition, investors of foreign nationalites can acquire real estate up to 10% of the total surface area in the neighborhood concerned. This rate can only be increased by the Turkish authorities.

Investors of foreign nationality need to apply to the land registry offices in Turkey, in order to formally understand whether they can buy a property. If the land registry office in Turkey gives the approval, the real estate acquisition process is carried out subsequently.

Except for the limitation mentioned in the first paragraph, no distinction or discrimination is made between investors of foreign nationality and Turkish citizens during the acquisition stage.

How to buy Property in Turkey?

Buying a home overseas may not be as straightforward as buying in your home country. The main reasons people sometimes think buying overseas is risky are:

  • The feeling of lack of control over the process, which arises due to you not being based in the country
  • Perceived weaknesses in the legislation governing foreign nationals buying a property in the target country
  • Differences in applicable laws and legal systems governing real estate transactions
  • Fear of being defrauded and losing money as well as time
  • Language barriers, legal jargon

We at Property Solutions Turkey understand and appreciate our investors’ concerns.

As a result, we have put solid guidelines and recommendations in place to help you buy your property in Turkey in the safest and smoothest way possible.

With our expert team and a great deal of experience we are well placed to advise you on how to minimise and eliminate your risks.

Our six-step guide for you to find the right
property in Turkey

Specifying your requirements
Finding your property agent and building a suitable portfolio
Visiting Turkey
Going on Inspection Tours
Reserving the Property
Get the Title Deed (TAPU)

What is the cost of Purchasing a Property in Turkey?

  1. Lawyer Fees – The Average cost is between 1000TL to 1500TL for drawing up the contract, arrange for notarization, check the deeds and sort out the application
  2. Notary and Translation Fees – The Average cost is between 200TL to 500TL – Every document has to be translated by a certified translator into the Turkish language
  3. Real Estate Appraisal – Buying laws state that a real estate appraisal must accompany each sale. This is done by an independent firm and at the time of the publishing costs around 2000 TL.
  4. Property Tax – There is a 4% property tax when signing your deeds. Some new projects advertise that they are paying the fee themselves in full or in part. To find out which ones please get in touch with us.
  5. Real Estate Agent Costs – The real estate agent fees are a standard 2% for our work and assistance. Agency fees are payable upon the signing of the purchase contract.
  6. Earthquake Insurance (DASK) – When you sign for your deeds, you will need a valid earthquake insurance that is called DASK valid for a period of one year. The price is calculated per square meter with 2TL to 3TL.
  7. Utility Connection – If you buy a new home, you will need to have a new connection set up. The fees vary from region to region but expect to pay between 500TL to 1500 TL

VAT exemption rule:

Who is eligible for VAT exemption in Turkey?

  1. Turkish citizens who have lived abroad for more than six months with their work and residence permits.
  2. Foreigners who are not resident in Turkey.
  3. Organisations that have not made any profits in Turkey, or do not have a Turkish office or business operation.

What types of VAT are levied in Turkey?

There are three different VAT rates levied on real estate transactions in Turkey. The rate depends on the type and size of the purchased properties.

  • For residential real estate less than 150m2: 1% VAT applicable
  • For residential real estate over 150m2: 8% VAT applicable
  • For commercial real estate and dual-use residential properties: 18% VAT applicable