Buying property in Istanbul for foreigners

There are many questions that come to the minds of those wishing to buy a property in Istanbul, Turkey. They wonder if foreigners can buy real estate in Istanbul. Moreover, they ask about the required documents and conditions for buying property in Istanbul. Therefore, in this article from Ebla Real Estate, we will provide the valued clients with a guide on buying a property in Istanbul for foreigners.

Buying a property in Istanbul for foreigners:

Istanbul among the best options for real estate ownership in Turkey for many reasons:

• Istanbul is one of Turkey’s largest and most important cities.
• Furthermore, Istanbul is Turkey’s cultural, historical and economic hub.
• Moreover, Istanbul has many options of real estate with developed services and charming views.
• Istanbul’s vital and strategic location.
• Istanbul’s developed infrastructure and integrated services.
• Its cultural value, and its tourism and investment importance.
• The possibility of obtaining a real estate residence and Turkish citizenship.

Conditions for buying a property in Istanbul for foreigners:

Foreigners can buy real estate in Istanbul for any purpose, whether for living or investing. Moreover, foreigners are allowed to buy a property in Turkey to obtain Turkish citizenship or real estate residence.

However, there are many conditions regarding foreign ownership in Istanbul, including:

1. Turkish law allows foreigners to own real estate in Turkey, with the exception of citizens of 4 countries, Syria, Cuba, North Korea, and Armenia, in accordance with the law of reciprocity.
2. A foreigner is not permitted to own more than 30 hectares in Istanbul.
3. It is not possible for a foreigner to purchase or rent property in prohibited security or military zones.
4. Moreover, the area of ​​land owned by foreigners in any place should not exceed 10% of the area of ​​the region.
5. Furthermore, the property should not be located in the prohibited neighborhoods for foreigners’ ownership in Istanbul.
6. The property should be worth 200.000 $ to obtain a real estate residence permit in Istanbul.
7. Additionally, the property should be worth 400.000 $ to obtain Turkish citizenship in Istanbul.

Required documents for buying real estate for foreigners in Istanbul:

• The original passport with a translated and attested copy.
• A bank account.
• Earthquake insurance (dask)
• Real estate appraisal document.
• Personal Photos.
• Tax Number.

Ebla real estate services regarding purchasing a property in Istanbul for foreigners:

• Ebla Real Estate provides free real estate consultancy to all clients in Istanbul.
• Moreover, we provide free real estate tours in Istanbul.
• Furthermore, Ebla offers exceptional apartments for sale in the best areas of Istanbul.
• Additionally, Ebla Real Estate provides under-construction apartments and ready-to-move-in apartments for sale in cash and in installments, at reasonable prices in Istanbul.
• In addition, we offer houses with full range of facilities with charming views

Edited by: Ebla Group Real Estate

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