About Buying Property in Turkey

Many people looking to buy property in Turkey come from Europe, Asia, the Middle East and other destinations because Turkey is a global hub presenting ideal real estate investments at reasonable prices. The legal requirements and terms are also favourable for foreign buyers who want to carry out a property search and take ownership of property.

However, we understand that many foreign buyers and real estate investors are nervous about entering the Turkish property market for the first time. This is understandable. With a property buying process totally different from that of foreign countries, buyers want assurance that their investment is safe. With that in mind, this comprehensive guide aims to help you navigate the markets. However, you can also call us today and chat with an agent about real estate properties in Turkey.

About Buying Property in Turkey

What are the Benefits of Buying Turkish Property?

Buying an apartment or villa in Turkey offers several benefits, for local and international investors. Turkey is the 17th largest economy and one of the rare countries that is entirely self-sufficient. The New Turkish Lira is convertible, and property owners and investors can transfer their capital or profits abroad. Other benefits include…

Diverse Real Estate Options: Turkey offers many real estate options, including apartments, villas, commercial properties, and more. Whether looking for a residence, vacation home, or investment property, Turkey provides various choices to meet different preferences. Although property prices differ across the country, most places offer affordable prices per square meter. The 1 restriction is that a foreigner cannot purchase more than 30 hectares of land.

Affordable Costs: Though costs have risen in Turkey in recent years, the country is still more affordable than many European destinations. Many expats remark that they wouldn‘t have the same lifestyle in Turkey in their home country. Additionally, running costs for a property are incredibly high, from electricity to water and gas.

Strategic Location: Turkey’s location between Europe and Asia makes the country a hub for business and commerce. This location is advantageous for individuals looking to invest in commercial properties or those seeking economic opportunities. Additionally, this location means the country is easy to get to. Turkey has two major airports in Istanbul and three award–winning, touristic airports along the Aegean and Mediterranean coasts that easily handle millions of air travel passengers every year.

Scenic Beauty and Climate: Where do we start exploring the country? From the East to the West, each region is as unique as it is diverse, and every person is accommodated, from historical buffs to beach lovers to those who like to party to dawn. The gorgeous climate is an added zone, which is why many people own holiday homes in Turkey and, in later years, even move out here to live in the sun. Turkey’s rich cultural heritage, historical landmarks, and vibrant cities contribute to the appeal.

Infrastructure Development: The Turkish government has invested in infrastructure projects, improving transportation networks, healthcare facilities, and other essential services. This enhances the overall quality of life and contributes to the value of real estate in certain areas. Over the last 2 years, the quality of roads and air travel has dramatically improved, as has the standard of housing. Industries like tourism excel as one of the best globally, and constant investment by local councils into their towns and cities ensures good living standards.

Do I Need a Lawyer to Buy Property in Turkey?

While it is not mandatory, many foreign buyers hire a lawyer when purchasing Turkish property. Purchasing real estate involves various legal and administrative procedures, and having a Turkish lawyer helps navigate the complexities of the Turkish legal system and real estate regulations. A legal representative helps verify the title deed (Tapu) for encumbrances or legal issues. Suppose you are unable to be present in Turkey for the purchase. In that case, a lawyer can be a Power of Attorney, allowing them to act on your behalf during the transaction. Your lawyer provides legal advice on various aspects of the property purchase, including tax implications, inheritance laws, and other relevant legal matters. While it is an additional cost, their peace of mind and legal assistance are invaluable in avoiding potential pitfalls during acquisition.

The Land Registry Directorates in Turkey

In Turkey, the land registry system and transfer of ownership for property is managed by the General Directorate of Land Registry and Cadastre (Tapu veKadastro Genel Müdürlüğü), which operates under the Ministry of Environment and Urban Planning. The land system records and maintains property ownership information throughout the country.

Tapu (Title Deed): The title deed, known as “Tapu” in Turkish, is the official document proving real estate ownership. It includes essential information like the owner’s name, location, boundaries, and other relevant details. The cadastre is a comprehensive, freehold land information system providing detailed maps and records of land parcels. It helps define property boundaries and serves as a basis for the registry system.

Land Registry Offices: Land registry services are provided by local Land Registry Offices (Tapu veKadastroMüdürlüğü) located throughout the country. Each province has its own office and multiple district offices within provinces. The system involves various property transactions, including sales, purchases, transfers, mortgages, and inheritance. When a property is bought or sold, the change in ownership is recorded here.

Title Deed Types: There are different types of title deeds in Turkey, such as residential, commercial, agricultural land, and forest land deeds. The type of title deed depends on the designated use. Title deeds provide information including location, size, purpose, ownership details, and any encumbrances or restrictions. Buyers should carefully review the title deed before completing property transactions.

Services: The General Directorate of Land Registry and Cadastre has implemented online services to facilitate certain transactions, allowing individuals to access information and apply for services electronically. Property transactions in Turkey are subject to a Title Deed Transfer Tax. The tax rate may vary based on the type, location, and whether it is a first-time purchase.

What is the Turkish Citizenship by Investment Program?

Turkey offers a Citizenship by Investment Program, allowing foreign investors to acquire Turkish citizenship through financial investment in the property market. Foreign citizens can purchase residential properties, and the total value of the properties must meet the minimum investment requirement. Once the application is approved, investors and their eligible family members can obtain Turkish citizenship. Turkey allows dual citizenship, meaning that individuals who acquire Turkish citizenship through this program do not have to renounce their existing citizenship. Call us today if you want to find out more about investing for citizenship.

About the Turkish Housing Market

The Turkish housing market has experienced steady growth in recent years, with increased demand for residential and commercial properties. Urbanisation, population growth, and economic development have contributed to this trend. However, the Turkish government has been actively involved in urban transformation projects, aiming to renew and improve existing urban infrastructure in the property market. This led to increased construction and redevelopment projects in various cities. Old housing has now paved to create new modern homes that present the best in contemporary living and structural safety.

Generally, rather than looking at the Turkish housing market, it is worth breaking it down into regions. While major cities like Istanbul, Ankara, and Izmir generally attract significant attention from domestic buyers, other regions have different dynamics regarding foreign sales. Istanbul is a crucial area for investment property. At the same time, western foreign buyers seeking holiday homes and retirement homes often head to the Aegean and Mediterranean coasts, while Middle Eastern buyers like the Northern coast because of the similarities in culture and traditions.

What are the Popular Destinations to Buy Property in Turkey?

Several locations in Turkey are popular among both local and international buyers. These destinations are often chosen for their diverse offerings, including cultural attractions, natural beauty, economic opportunities, and more.

Istanbul for Investment: As Turkey’s largest and most famous city centre and a cultural and economic hub, Istanbul is a prime location for real estate investment. It offers historical and modern properties, with areas like Beşiktaş, Beyoğlu, and Şişli being particularly sought after for foreign property investment. Additionally, this is the principal city for the investment for citizenship application. Much housing modernisation has occurred in large lifestyle complexes with various onsite facilities in the outskirt districts in recent years.

Antalya Province: Located on the Mediterranean coast, Antalya is a popular destination for tourism, residential properties and holiday homes. The city centre and surrounding areas, including Belek, Konyaalti, and Lara, attract buyers looking for seaside properties and a pleasant climate. As the number one destination for holiday homes, buyers will be delighted that many low-cost airlines use Antalya airport, Turkey’s top touristic air travel hub. As well as being the top spot in Turkey for beach tourism, Belek in Antalya is also the golfing capital.

Luxury Property in Bodrum: Known for Aegean charm and beautiful coastline, Bodrum is a favourite among those seeking luxury real estate, especially along the Bodrum Peninsula. Yalikavak, Turkbuku, and Bodrum City itself are popular locations. With exceptional architectural quality, glorious weather, and many international residents, Bodrum excels in the luxury home market. Thanks to places like Bodrum Marina and Yalikavak Marina, Bodrum has earned much fame in the sailing world, and it isn‘t unusual to see the odd mega yacht dropping by.

Property Sales in Fethiye: Fethiye, on the southwestern coast fronting the Mediterranean Sea, is known for stunning landscapes and proximity to the famous Oludeniz beach. Areas like Ovacik, Hisaronu, and Calis are popular choices for buyers. The Turkish economy in Fethiye is thriving thanks to the tourism industry, and buyers will find reasonable average costs. The Fethiye region is close to Dalaman Airport, another reason why many British buyers choose it as a holiday home destination.

Alanya: Located on the southern coast, Alanya, popular for tourism and real estate, earns fame for modern apartments and villas and the Mediterranean lifestyle. The council has made much direct investment into local infrastructure, which has set Alanya apart from other regions. Alanya is an excellent place to head to, with reasonable real estate prices, strong economy, and amazing city vibes, and homeowners in Alanya can either use Gazipasa Airport or Antalya Airport. Like Antalya city, Alanya has a good winter climate; hence, it is also famous for expats.

How Long Does it Take to Buy Property in Turkey?

The purchase process appeals to foreigners because if all finances and paperwork are in place, and you have the correct documents, buying a property takes as little as 7 days. The period and procedure are the same for Turkish residents and non-Turkish residents. The difference is that foreigners must open a bank account and get a tax number. Additionally, the taxes, VAT rate, title deed fee, and other closing costs are minimal in other countries.

Can I Rent Out My Home in Turkey?

Some people like to rent their Turkish property, especially if they don’t live in the country or use it as a holiday home. The lure is understandable, thanks to attractive rental yields and the current exchange rate. As the world’s 6th most popular holiday destination with many major attractions, there is also strong demand. However, there are strict regulations regarding long- and short-term rentals. House buyers can ring or call us for professional advice on how the rental markets in Turkey work.

Use Our Services in Turkey

Choosing an agent in Turkey is pivotal when navigating the real estate market in this transcontinental country. Our team of overseas property agents stands out as a reliable partner committed to ensuring rewarding experiences in this famous country. We provide valuable insights and expert guidance to our clients, whether they are looking for a cosy apartment in Istanbul or a luxurious villa along the Aegean coast. We’ve helped many British buyers and other foreign citizens become homeowners in this vast country’s Metropolitan cities and coastal beach resorts, so contact us today and we can introduce our services.

If there is a specific area that you are interested in, see our Turkey property guides below. Also, browse our portfolio of properties for sale in Turkey here. Each listing contains everything to know, including price, location, home features, and contact details to learn more via email or to arrange viewings. In addition to our deep knowledge of the Turkish property market, we prioritise transparency and integrity throughout the process.

From consultation to final closing, we prioritise clear communication, ensuring our clients are well-informed and confident of their foreign purchases. Whether you are a first-time buyer, an experienced investor, or a seller looking to maximise returns, our agent services in Turkey are designed to simplify market complexities ensuring you can buy property in Turkey with peace of mind.