Laws of buying real estate in Turkey for foreigners – The legal basis for real estate ownership in Turkey

Laws of buying real estate in Turkey. Turkey is now seen as a good future investment as it has one of the fastest growing emerging markets in the world. It is also a preferred destination for many foreign investors in the real estate field. Therefore, in this article from Ebla Real Estate, we will talk about the laws of buying real estate in Turkey for foreigners.

Table of Contents

The laws of buying real estate in Turkey:

According to the government amendment to Article 35 of Real Estate Law No. 2644 issued on May 18, 2012.. The principle of reciprocity with regard to foreign ownership of real estate in Turkey has been abolished. Thus, foreigners have the right to own any type of real estate within the borders of the Turkish Republic.

Moreover, according to the laws and regulations applied in Turkey, the transfer of real estate ownership takes place through an official document called “title deed” or “Tabu” that is signed and duly registered in the real estate registry directories.

Conditions for buying real estate in Turkey for foreigners:

Obtaining the security and military approval from the competent military authorities in the area in which the property is located.
The area of real estate in Turkey that a foreigner owns should not exceed 30 hectares.
Real estate in Turkey that foreigners own must not exceed an area of 10% of the total area of the administrative region.

Documents required to transfer ownership in Turkey:

After booking an appointment with the Land Registry Directorate to complete the property transfer procedures, the buyer must bring:

The title deed of the real estate in Turkey, which includes (the detailed address of the property).
Passport in addition to its translation.
Report of average real estate values in the region. This report is issued by the municipality.
Real estate appraisal report in Turkey.
Earthquake insurance policy.
A personal photo of the seller in addition to two photos of the buyer.
A sworn translator if one of the parties does not know the Turkish language.

Ownership transfer expenses:

The title deed fee, which is 4% of the value of the property.
Value Added Tax ‘KDV’.
The capital tax, which is between 700 and 2,000 Turkish liras.

It is worth noting that the value of the property in the title deed must not be less than the value specified in the report of the average property values in the region.