There are many reasons why investors are more likely to choose to own property in Turkey than the other options offered, as Turkey occupies a strategic position on the map of the world, making it a destination for both investors and tourists alike.
The comparison tends to favor favoring obtaining residence in Turkey by purchasing a property in exchange for other types of residence, for example, tourist residency; This is in view of the fact that the title to the real estate property (Tabu) carries within it legal significance.
At the same time, real estate investment in Turkey is witnessing an increasing growth, as the number of apartments purchased by foreigners in Turkey during the year 2017, for example, reached 22,234 apartments, most of which are apartments in Istanbul, and in the second place came Antalya, which sold 4 thousand and 707 apartments, then Bursa B A, 474 apartments, and in fourth place came Yalova with a thousand and 79 apartments. In 2019, the number jumped to 31,000 apartments (what could be counted and registered).
The advantages of real estate residence in Turkey
From different parts of the world, many are heading to Turkey today to start a new life, to start a new business, or even to feel comfortable and calm after their retirement.
- Real estate residence in Turkey is obtained through owning an immovable property in Turkish territory.
- Real estate residence in Turkey is one of the main reasons foreigners own real estate in Turkey.
- Turkish law grants real estate residence in Turkey to foreign nationals when they own an immovable property in Turkey.
- The immovable property includes real estate in general.
- Owning a property in Turkey is one way to obtain Turkish citizenship.
Duration of real estate residence in Turkey
Real estate residence in Turkey is for two years and renewable.
Is the property inherited in Turkey?
The Turkish government gives a period of 10 years to review the heir in inheritance in Turkey. In the event of a review and to prove this, the goodwill will be transferred in his name without any complications. But in the event of spending the 10-year period and no one has reviewed the Land Registry, the Turkish government will export the Turkish moratorium.
What papers are required to transfer ownership to the heirs?
- A family statement from the circle of souls in his country (inventory of legacy) indicating who are the heirs and the type of kinship. Certified and translated by the Turkish language.
- Register in the tax register in Turkey and obtain tax numbers for all heirs
- A passport that is valid for at least six months and is a translator for Turkish
- Two personal photos for each person
What are the costs of transferring ownership to the heirs?
The same purchase costs are estimated at 2 percent of the inheritance value, plus the attorneys ’fees and fees.
Real estate investment in Turkey
The investment of apartments in Turkey in general and in Istanbul in particular is one of the distinguished economic activities in the world that has attracted many of the leading energies in recent years.
The British real estate magazine in the sun ranked Turkey among the 10 best countries to buy real estate for 2017, while data from the Turkish Statistics Institute indicate that foreigners prefer buying real estate in Istanbul and this report explains the advantages of real estate investment in Turkey.
Tips for those coming to real estate investment in Turkey:
- Verify the eligibility of the seller or responsible for selling the property; In terms of having the right to execute the sale.
- Ensure that there is no other owner or buyer of the property.
- Verify that the property is free of rights resulting from the mortgage, lease or any other rights.
- Visiting the real estate site and verifying its suitability and appropriateness for use in housing, work or the specific purpose of its purchase.
- Obtaining a copy of the property ownership contract to ensure that its previous owner has not undertaken any form of transfer of ownership, and to ensure that there are no rights involved.
- Ensure that the area, specifications, and information provided in the title deed (the title deed) match the shape of the property in reality.These tips should be followed to avoid the risks of real estate investment in Turkey
Types of real estate investment in Turkey:
- Investment in commercial real estate: It is investing in types of property that are not intended for housing, such as commercial offices and commercial stores.
- Investment in residential real estate: It is an investment in real estate used for residential purposes only, such as villas for sale, and homes for sale.
Real estate residence conditions in Turkey
The Turkish government is working to provide multiple facilities and tax exemptions in the real estate sector, and to encourage the establishment of high-end real estate projects, in order to meet the promising real estate market aspirations; In addition to the private sector companies, the Turkish government plays a leading role in encouraging investors to own property, by facilitating their purchase of real estate and reducing routine procedures, in addition to granting the possibility of a comfortable installment to foreign investors, as well as the benefits granted by the Turkish state to those wishing to invest in real estate, such as exempting them from Some taxes are partial and total, and granting them exceptional Turkish residence and citizenship if they own a property of a certain value.
And the conditions for obtaining residency in Turkey are:
- Possession of a tapu or title deed submitted by the Immigration Department located within the Turkish Republic.
- The experience of buying an apartment in Turkey is affordable, and it is suitable for the number of individuals registered in the tapu.
- Keeping the tapu or title deed during the renewal of the residence.
- To be the same unit or the same apartment in which you obtained the residence before.
Conditions for obtaining permanent residence in Turkey
- Permission for permanent residence on Turkish lands is granted with the approval of the Ministry of the Interior for a foreigner who has been staying on Turkish territory continuously without interruption for a period of eight years.
- Eight years are counted without interruption according to what is stated in Article 38 of the law, where half of the student’s residence permit is calculated, and the duration of other residence permits is calculated in full.
- Has not received social assistance during the last three years.
- The resident must have enough income to secure his or her family’s regular living.
- That the resident enjoy a valid health insurance.
- Not to be a threat to public order and public security.
The papers required for real estate residence in Turkey
- Copy of the passport: translated and certified by the Notre Office.
- Four personal photos: 5 * 6 with a white background.
- Registration document for souls: It can be extracted from the circle of souls.
- Health insurance policy: for the property owner and is valid for the duration of the residence.
- The original Land Registry document: according to which the applicant will obtain the real estate residence permit, in addition to a copy of it.
- Registration document of the Land Registry: It is extracted from the General Directorate of Surveying and Land – Directorate of Land Registry.
- Tax number: It is extracted for free from the Tax Department.
- Namra Tash: It is extracted from the municipality where your property is located.
- Real estate insurance payment document (DASC): obtained from the Directorate of Survey and Land (TAPU).
Property law in Turkey
The Real Estate Ownership Law in Turkey permits the ownership of non-Turks (foreigners) on the condition of ownership that the real estate is not adjacent to any security or military area or the ownership percentage for foreigners has been met, and there are limited annual taxes on real estate that differ from one place to another, just as the ownership law allows investment of the property and is estimated Real estate purchase tax (4%) of the property’s value (paid only once) (often divided equally between the seller and the buyer), and if the purchase was made by a real estate company, (18%) may be added to calculate it as a sales tax and borne by the buyer.
As for the commissions of real estate brokers, the buyer pays (3%) of the value, as it is possible to sell at any time, and the amount of the sales tax is (4%) of the value (paid only once), often distributed equally between the seller and the buyer in addition to (20%) of The sum of the net profits that go to the tax authority and the commission of the real estate brokers.
It is possible to work as an agency for others to buy and sell an apartment in Turkey to obtain residence after the buyer goes to the office of notary in Turkey to work the agency he wants in the presence of an interpreter accredited by the notary. It is also possible to work for an agency in the buyer’s country after translating it into the Turkish language and attesting it from the embassy Turkish in the country of the buyer and the process of transferring ownership usually takes from (30 -45) days.
Ownership in Turkey for the Saudis
Many Saudi citizens and investors flock to the Turkish real estate market in order to own property in Turkey for the Saudis, believing in the feasibility of buying in this country, which has succeeded in attracting a large number of Saudi and Gulf tourists recently. Real estate investment and development companies in Turkey are keen to market their products in the Gulf countries, and pay special attention to the Saudi market in particular, realizing that Saudi businessmen have financial solvency to buy real estate in general and high-priced hotels in particular.
The popularity of buying real estate in Turkey grows in the summer every year, but a warning from Turkey and another from Saudi Arabia issued a few days ago may spoil the season of buying an apartment in Turkey and residence, which is witnessing a growth in its economic and development sectors during the past years; The first warning came from the Turkish Consul General in Jeddah a few days ago, when Saudi investors in the real estate sector in Turkey warned of fraud and fraud that they might be exposed to because they relied on agents of unrecognized companies and real estate offices or those that violate Turkish regulations, and the consul called on all of The Saudis want to buy real estate in Turkey to return to the consulate to give them known real estate companies and institutions approved by the Turkish government.
The talk of the Turkish consul did not end at this point, but revealed some cases in which Saudis were subjected to monuments because of their desire to buy real estate in Istanbul or other Turkish cities, and attributed these operations to the lack of awareness of the person wishing to purchase.
The warning issued by Saudi Arabia came from the director of the General Department of Public Relations and Information at the Ministry of Interior for local media, who stated that the Ministry of Interior received a telegram from the Ministry of Foreign Affairs that included urging citizens wishing to invest or own property in the Republic of Turkey on the need to pre-communicate and coordinate with the Saudi embassy Or the Consulate General in Istanbul to record their activities and investments in order to guarantee the rights of citizens and not be subjected to legal problems or fraud, fraud or exploitation of some of the weak souls, as well as providing advice, advice and all information and procedures followed in such activities to ensure their rights in accordance with the instructions and regulations in Turkey.
Hundreds of Turkish real estate companies are operating in Turkey, along with hundreds of other Saudi companies operating there, after seeing that the Turkish real estate sector provides them with all the good investment climate they need, which encourages work and production, and achieves more profits.
Ownership in Turkey for the Syrians
Attempts by the Syrians in Turkey topped the list of safe options for Syrians wishing to purchase real estate in the region, especially after the recent events in Syria, but is the Syrian entitled to buy a house in Turkey?
The Syrians had to conduct continuous searches to find the best alternative in proportion to their desires, and a large part of them found that Turkey is distinguished by its moderate climate, high economic growth, and the diversity of its culture, which made it the preferred target in front of them, for housing and investment purposes.
With the ambiguity of the Turkish laws concerned in this regard, especially Turkey’s decisions for the Syrians, and with the absence of a direct ban from the Turkish state for the process of Syrian ownership in Turkey, the picture remained cloudy in front of home ownership in Turkey for the Syrians, and answers to common questions such as: Are Syrians entitled to own property in Turkey? Have discretionary non-categorical answers!
In the year 2012, the Turkish Parliament issued a decision granting foreigners the right to own real estate in Turkey, but upon practical application, it became clear that there are instructions that prevent holders of some nationalities from owning property, and among them were the Syrian citizenship, unfortunately!
Despite this, the demand for buying real estate in Turkey has increased for the Syrians, and fortunately some ways have been found to allow real estate in Turkey for the Syrians. Among them were, for example: establishing a commercial company and registering the property owned in the name of the company as a legal person in the eyes of Turkish law. Where studies confirm that the companies that the Syrians established in Turkey during the past seven years, Reached more than 10 thousand companies at the rate of 4 new companies per day, according to the Center for the suspension of economic policy research.
Ownership in Turkey for Yemenis
In light of the increasing investment opportunities and the increase of the Turkish government’s incentives for the real estate sector, through tax exemptions, residency programs, and Turkish citizenship for real estate investors; The Yemenis have increased interest in owning real estate in Turkey.
According to the data of the Turkish Statistics Directorate, the number of Yemenis who own real estate increased in 2018 significantly, as the Yemeni nationality campaign ranked twelfth on the list of most foreign nationalities who own real estate in Turkey.
All right-wingers are entitled to own real estate in Turkey, and they have been covered by the Turkish real estate law issued in 2012, through which the Yemeni citizen can own all types of real estate in Turkey including: apartments, villas, shops, commercial offices, stores, hotels, buildings and buildings, and lands , Farms and other types of residential and commercial property.
Through real estate ownership, a Yemeni can obtain a two-year real estate residence permit in Turkey for him, his children, and his wife, and this residence can be renewed every two years.
Ownership in Turkey for the Palestinians
In 2017, Palestinian citizenship entered the list of the first 20 nationalities of foreign ownership in Turkey; In January of the year 2018, the number of real estate owned by Palestinians in Turkey increased compared to the same month in 2017, and this indicates an increase in Palestinian interest in real estate investment and real estate ownership in Turkey.
The Palestinians have the right to purchase real estate in Turkey without specifying the number of properties that the Palestinian investor can own, as the Palestinians are entitled to own all types of real estate in Turkey including: apartments, villas, shops, commercial offices, stores, hotels, buildings and buildings, and the Palestinian is also entitled Buying land in Turkey with an area not exceeding 30 hectares, and the investor can find excellent opportunities to own all kinds of lands, such as farms and investment lands.
Ownership in Turkey for Iraqis
Iraq and Turkey are neighboring countries with historical, cultural and economic ties. The two countries have sought to develop their relations since the Turkish recognition of Iraq in 1927 on the basis of their common interests, especially since these two countries have common borders and common issues such as water and oil.
On the economic level, the two countries have wide-ranging trade relations that take the form of Iraqi import of Turkish goods in large quantities, which makes the crossing point between the two countries one of the most important commercial areas that witness the movement of Turkish trucks into Iraq on a daily and large basis, and in return, Iraq exports its oil abroad via a pipeline The oil that passes through the Turkish territories, to benefit the common benefit on Iraq and Turkey.
The real estate market in Turkey is witnessing a high demand for buying apartments from Iraqi citizens, who constitute a large bloc to supplement real estate investment in Turkey. Some instability in Iraq has led thousands of Iraqis to seek safe alternatives; Many of them chose to go to Turkey, and many Iraqis decided to settle and own real estate in Turkey, because of the reception, hospitality and sympathy shown by Turkish society with the citizens coming from Iraq.
Iraqis are entitled to purchase real estate in Turkey, according to the law issued in 2012; According to the cabinet decision regarding the purchase of immovable property (real estate in Turkey) by foreigners in Turkey, Iraq is among the countries whose citizens are allowed to own real estate in Turkey. However, Iraqis need to fulfill certain conditions for purchasing real estate in Turkey; These conditions are: the approval of the Ministry of Interior and the Turkish Ministry of Foreign Affairs, and the Turkish Land Registry Office implements these procedures after submitting the necessary documents, and it is not necessary for the Iraqi citizen to personally review the Ministry of Interior or the Turkish Ministry of Foreign Affairs.
Ownership in Turkey for Jordanians
With the increase in interest in real estate investment in Turkey, and the availability of distinctive real estate projects, the interest of Jordanian citizens in investment opportunities within various Turkish cities increased, coinciding with a package of facilities provided by the Turkish government to continuously encourage real estate investment, including amending some laws and opening the door to many nationalities to own Direct.
Jordanian and Palestinian, who holds a Jordanian passport, are entitled to own real estate in Turkey; When the ownership law was issued in Turkey in 2012, a list of some nationalities was attached to it, among them was Jordanian nationality, whereby the Jordanian citizen was allowed to buy two residential real estate, one commercial real estate, and the commercial real estate could be a shop or a commercial office.
As for the lands, this law did not include Jordanian nationality, so Jordanians wishing to own the lands, we advise them to establish a company – even a small one – in Turkey so that they can register the land in the name of this company.
According to the data of the Turkish Statistics Department, the number of apartments owned by Jordanians reached 483 properties for the year 2017, compared to 345 properties for the year 2016, with this result the Jordanians ranked ahead in the ranking of foreigners who own the property in Turkey. Statistics for the first month of 2018 also showed an increase of more than 100 percent for Jordanians’ ownership, compared to the same month in the previous year.
Jordanian nationality was ranked seventh in the list of foreign nationalities most owned real estate in Turkey for the year 2018.
Ownership in Turkey for the Algerians
It is recently noticed that the Algerian investors have become increasingly interested in Turkish real estate, and they are searching for accurate information about Turkish real estate from its correct sources.
By reviewing the Turkish law and the amendments to the foreign ownership law in 2012, there are no obstacles regarding the ownership of real estate by Algerians. According to the data of the Turkish Statistics Department, the number of Algerian property owners has increased in recent years and their interest in Turkish real estate in general has increased.
Especially after the issuance of the decision to grant Turkish citizenship to investors for the year 2018, as it became possible to obtain Turkish citizenship in exchange for a real estate investment of only $ 250,000 instead of one million dollars in the previous decision, with the consequent enjoyment of the advantages of a strong Turkish passport.
In 2018, the Turkish passport ranked 39th globally, registering 114 points on the Travel Index without Visa, as it allows its holder to enter more than 72 countries without obtaining an entry visa in advance, and holders of Turkish citizenship can enter more than 42 countries with an entry visa Immediately issued upon arrival, and more than 7 countries grant the Turkish passport holder an electronic entry visa over the Internet.
Turkish law allows the Algerian to own all types of real estate in Turkey, such as: apartments, villas and commercial real estate, including: shops, commercial offices, warehouses, hotels, buildings and buildings, in addition to the possibility of owning agricultural and residential lands.
Establish ownership in Turkey
It is a short, renewable residence permit granted to foreigners who own real estate in Turkey, where many encouraging campaigns have been launched to buy real estate in Turkey, such as: Owning in Turkey and obtaining residency; Real estate residence (residence in Turkey by buying a real estate) is usually granted for one year, and the wife as well as children under the age of 18 are entitled to a residence permit as well as accompanying the owner.
All of the above are factors that help determine the visibility of the residence and the type of residence that is always subject to update by specialists according to emergency developments, regardless of what the non-specialist observer thought is detailed and unimportant, and therefore it is always advisable to consult trusted people from real estate expertise before making sales or purchases. Real estate. By purchasing the property, you will obtain real estate residence, and you may have the opportunity to obtain Turkish citizenship.
Now that you have all the information about owning property in Turkey, do not hesitate to have someone to facilitate citizenship.