Property Buying in Turkey

Buying property in Turkey can have several benefits that have made the country a popular destination for investors and international buyers:

1.1. Turkish Residency and Citizenship

One of the biggest benefits of buying property in Turkey is the possibility of obtaining residency and even citizenship in the country. According to Turkish law, people who purchase property worth at least 400,000 US dollars can apply for Turkish citizenship. This provides access to Turkey’s public amenities and services, including health insurance, free education, and social rights.

1.2. Real Estate Market Growth

The Turkish real estate market has seen significant growth in recent years. The country offers high-yield investment opportunities in many cities and regions with the development of infrastructure and development projects. Especially in cities such as Istanbul, Ankara, Izmir and Antalya, buying a property can be a golden opportunity to profit from future price increases.

1.3. Prime Geographical Location

Turkey is located at the crossroads of the two continents of Asia and Europe, which is known as a commercial and economic center in the world. This unique geographical location has made Turkey an attractive destination for investors and foreign buyers. Turkey has many advantages in terms of access to global markets and proximity to important business areas.

1.4. Affordable Cost of Living and Taxes

Compared to many European and American countries, the cost of living and taxes in Turkey are much lower. This feature is very attractive for people who plan to use their property for investment or personal life. The Turkish tax system is also simple and transparent for foreign property owners.

Buying property in Turkey is relatively simple, but requires a thorough understanding of the laws and procedures. Here are the main steps to buying property in Turkey:

2.1. Choosing a property and its legal review

First, you need to choose a property that suits your needs and budget. Some important points at this stage are: • Legal status of the property: Make sure that the property you choose has valid legal documents and does not have any debts or legal problems. • Location of the property: Choosing the right location is of great importance. Especially in big cities like Istanbul and Antalya, where there are many amenities and commercial facilities.

2.2. Drawing up the contract and paying the down payment

After choosing the property, the purchase contract is drawn up with the seller. At this stage, you need to pay a down payment to the seller. Usually, this amount is around 10 to 30 percent of the total price of the property. The contract should be drawn up accurately and in accordance with Turkish law to avoid any legal problems in the future.

2.3. Requesting a Tax Code (Vergi Kimlik Numarası)

To buy a property in Turkey, you need to obtain a tax code from the Turkish Tax Administration. This code is necessary for registering in the purchase process and also for receiving any government services.

2.4. Transfer of ownership

After paying the down payment and completing the legal procedures, the property will be registered in your name. The transfer of ownership of the property from the seller to the buyer takes place at the notary public. This step requires the presence of you and the seller at the notary public.

2.5. Paying the remaining amount

After completing the legal procedures and transferring ownership, you must pay the remaining amount of the property. This amount is usually settled after the final approval and the transfer of the deed in your name.

3.1. Check the legal status of the property

Before buying a property, you should make sure of its legal status. Checking the accuracy of the documents, possible debts and any third-party rights can prevent future problems.

3.2. Need for legal advice

It is recommended that you seek the help of an experienced local lawyer before making any purchase. A lawyer can guide you through all stages of the property purchase, including reviewing the documents and contract, and prevent legal problems from arising.

3.3. Checking for additional costs When buying a property, in addition to the purchase price, you should also consider additional costs such as taxes, title deed fees, attorney fees, and insurance.

3.4. Rental and Investment Opportunities

If you are entering the Turkish real estate market as an investor, it is very important to examine the rental market and demand in the area where you are buying the property. Renting property in Turkey can be a sustainable source of income.

Buying property in Turkey can lead to temporary residency or even Turkish citizenship. According to Turkish law, people who buy property worth at least 200,000 US dollars can apply for Turkish citizenship after five years. Also, property owners can use temporary Turkish residency and enjoy its benefits.

• Growing real estate market: Real estate prices in Turkey are on the rise and buying property in this country can be a profitable investment. • Possibility of obtaining residency and citizenship: Buying property can allow you to live legally in Turkey and even obtain citizenship of this country. • Excellent geographical location: As a bridge between Asia and Europe, Turkey has a strategic geographical location that is suitable for business and living.

Buying property in Turkey is a great choice for those looking to make a secure investment or start a new life in Turkey due to its booming real estate market, excellent investment opportunities and residence benefits. By following the legal procedures, choosing the right property and using legal advice, you can benefit from all the opportunities this market has to offer.

If you are interested in buying property in Turkey, our expert team is ready to assist you in all stages, from choosing a property to obtaining residency or citizenship.