Investment Guide
About Turkiye
- Official name: Türkiye Cumhuriyeti (Republic of Türkiye)
- Capital: Ankara
- Population: 84.3 million (2022)
- Official language: Turkish
- Currency: Turkish lira (TRY)
- Neighbors: Greece, Bulgaria, Georgia, Armenia, Azerbaijan, Iran, Iraq, and Syria
- Land area: 783,562 square kilometers (302,535 square miles)
- GDP (nominal): $823.8 billion (2022)
- GDP (PPP): $2.3 trillion (2022)
- HDI: 0.777 (high)
Türkiye is a transcontinental country, straddling both Europe and Asia. It is the 37th most populous country in the world, and the 13th largest country in terms of land area. Türkiye is a member of the United Nations, NATO, the Council of Europe, and the Organization of Islamic Cooperation.
Türkiye is a popular tourist destination, known for its historical sites, natural beauty, and diverse cultures. Some of the most popular tourist destinations in Türkiye include Istanbul, Cappadocia, Ephesus, and Pamukkale.
Türkiye is a rapidly developing country, with a growing economy and a young population. The country is also a major center for trade and commerce, and is strategically located at the crossroads of Europe and Asia.
- USA
- Germany
- Argentina
- Belgium
- Belize
- Benin
- Bosnia and Herzegovina
- Brazil
- Bulgaria
- Burkina Faso
- Burundi
- Chad
- Dominican Republic
- Estonia
- Republic of Cote D’Ivoire
- Finland
- France
- Gabon
- Gambia
- Guinea
- South Africa
- South Korea
- Georgia
- Croatia
- Holland
- United Kingdom
- Ireland
- Spain
- Sweden
- Switzerland
- Italy
- Canada
- Kenya
- Northern Cyprus
- Colombia
- Kosovo
- Libya
- Lebanon
- Luxembourg
- Mali
- Moldova
- Monaco
- Namibia
- Niger
- Norway
- Poland
- Portugal
- Peru
- Russia
- Romania
- Serbia
- Slovakia
- Ukraine
With the New announcement of 2012
- The United Arab Emirates
- Saudi Arabia
- Lebanon
- Kuwait
- Azerbaijan
- Kazakhstan
- Turkmenistan
- Uzbekistan
- Kyrgyzstan
Nationals of the following countries must receive special approval from Turkey’s Ministry of Interior before purchasing:
- China
- Iran
- Palestine
- Iraq
- India
The types of property that citizens of 31 countries can purchase in Turkey are limited. For instance:
Morocco – not allow agricultural land
Egypt –not allow
agricultural land
Latvia – not allow agricultural land
Afghanistan – not allow agricultural land
and they need special permission for other types of propertyAlbania – can only buy residential property and office space in Turkey. No other type of property in Turkey allowed
For nationals of the following countries, regional restrictions apply:
China
Jordan
Israel
Fiji
East Timor
Denmark
Some Turkish regions impose restrictions on foreign nationals purchasing property in Turkey. These nationals can still purchase property in other parts of Turkey.
Russian and Ukrainian citizens cannot purchase property along Turkey’s Black Sea coast.
Greek nationals are prohibited from purchasing property on Turkey’s Black Sea coast and some Aegean areas.
Greek nationals are prohibited from purchasing property on Turkey’s Black Sea coast and some Aegean areas. Unfortunately, citizens of the following countries are unable to purchase property in Turkey:
- Armenia
- Syria
- Korea, North
- Nigeria
- Cuba
- Yemen
The Most Important Steps in Buying Real Estate in Turkey
1. Before Purchasing A Home in Turkey, Make a Wish List
Making a wish list should be one of your initial steps. We ask the following questions regarding your ideal home to provide better customer service:
What is your motivation for purchasing a home?
Which region do you prefer?
What are the essential characteristics of the property you want?
The list should be as detailed as possible to find the best match for you. After completing your list, we’ll recommend the best option to meet your needs. Until you arrive, our agent will continue to send you the best deals.
Thousands of real estate listings with the best home features are available on our website. As a result, finding the ideal home for you is not difficult for us. The next stage is to set up virtual tours of the properties.
2. Property Viewing Tour
It’s time to start planning your trip to Turkey to experience what it feels like to live here.
Our bilingual salesperson picks you up from your hotel and gives you a brief overview of the homes you’re interested in our office. After that, your viewing trip will begin. We will show you three or four properties that best meet your needs.
If you don’t have time to visit Turkey, our TeleProperty service will organize a virtual tour for you. You can look at the property online and ask the owner questions without leaving your house. Tele Property is an excellent spot to look for further information.
3. Putting down a deposit and signing a contract to buy a home
After you’ve decided on the property you want to buy, you’ll need to figure out the total amount and set up a payment plan.
When purchasing a home in Turkey, you must pay a deposit to commit to the purchase and reserve the property. On average, the deposit as an intent to purchase is 2,000 USD or EUR.
We work with both buyers and sellers directly. We don’t work with any middlemen. Before signing the contract, we double-check that every detail has been studied and agreed upon by both parties.
We will ensure that you receive your property under the following terms:
The exact property you are viewing is from the original seller and is debt-free.
In exchange for mutually agreed-upon terms,
We prepare the official sales contract with all the specifics in your desired language. The down payment must be made within 1 to 4 weeks of signing the contract. The sum is between 30 and 50 percent of the selling price. The balance is due at the time of title deed conveyance.
4. Legal Procedures for Purchasing Real Estate in Turkey
To complete the buying transaction, several legal procedures are required. To begin, you’ll need a Turkish tax identification number. A tax number can be obtained using only your passport. We’ll be there for you the rest of the way.
Another critical step is to open a bank account. We’ll set up this account for you, and you’ll use it to make all of your purchase payments. It can also be used to pay your utility bills.
An appraisal report is required to validate the genuine worth of all real estate sales to foreign buyers in Turkey. To acquire an accurate and safe evaluation, we work with state-approved appraisers.
If you don’t have time to handle these legal transactions, you can give power of attorney to us, your lawyer, or a legal representative.
5. Relocating to Turkey and signing the title deed
You’re all set to get your property title deed and live in your ideal home. You do not need to be present to receive your title. Your legal representative, lawyer, or anyone with your power of attorney can make it for you.
At this point, you should have finished all payments and paid all taxes.
Congratulations! You now have a residence in Turkey.
Unless you sell the home you purchased from us; we will continue to provide you with after-sales services.
This title indicates that you will have full ownership of the unit shown on the Turkish Title Deed. In the same example, a mortgage may be obtained instead of house No. 5 being referred to as a share of the entire development. This freehold’s title is ‘kat irtifaki’ or ‘kat mulkiyeti,’ primarily used for residential or commercial purposes. There will be a checkbox to define the category to which your property belongs in the form.
This title indicates that you will have full ownership of the unit shown on the Turkish Title Deed. In the same example, a mortgage may be obtained instead of house No. 5 being referred to as a share of the entire development. This freehold’s title is ‘kat irtifaki’ or ‘kat mulkiyeti,’ primarily used for residential or commercial purposes. There will be a checkbox to define the category to which your property belongs in the form.
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