Benefits and Conditions of Buying Property in Turkey for Foreigners

Benefits
and Conditions of Buying Property in Turkey for Foreigners:

Turkey’s
real estate industry has grown significantly, according to statistics, and has
been a leading industry in the economy since 1980, according to studies.

Accordingly,
Turkish companies have a good reputation in the global and domestic
construction market.

In the
field of investments for foreigners in Turkey, buying real estate has become an
important sector. It has been particularly popular among investors, which has
led to Iranian investors buying Turkish real estate in this area. Enter.

However,
there are always questions as to whether these investments will eventually turn
into lucrative projects and which Turkish cities currently have the potential
to do so?

Or is there
a guarantee of absolute ownership of property purchased by foreigners in Turkey
at any time?

What are
the restrictions and conditions for buying a property in Turkey?

Will it
eventually lead to permanent residence or citizenship of Turkey?

Also, what
are the benefits of having a Turkish Permanent Resident in Turkey?

 Yasham
Santorini Park Project (Click photo to view the project)

Obtaining
Turkish Citizenship:

On
19/09/2018, the law facilitated the acquisition of Turkish citizenship,
reducing the cost of obtaining Turkish citizenship from $ 1 million to $
250,000.

According
to the law, any foreigner buying $ 250,000 worth of real estate in Turkey will
be able to obtain Turkish citizenship for himself and his family within six
months; in other words, hiring a real estate can also be a profitable
investment. And obtain Turkish citizenship.

Temporary
residence and citizenship of Turkey:

Foreigners
can also obtain temporary Turkish residency by purchasing real estate at any
price below 250,000
dollars and can apply for different citizenship if they have resided in this
property for five years.

To start
investing and buying a property in Turkey, the investor must be aware of the
social sciences, accurate statistics, and living conditions in Turkey.
Naturally, not all people have all the knowledge they need when entering
another country, so they must be protected at all stages by a trusted
consultant, a law firm, and a specialist in buying and selling property in that
country.

On the
other hand, you have factors to consider in buying a home anywhere in the
world, and in the end, it is what drives you to an ideal city for investing and
living in peace.

Izmir,
Turkey’s most convenient city to buy property

Accordingly,
on April 29, Nissan published an article in the Turkish daily Hurriyet, which
examined the parameters of a city for property purchase and investment.
Finally, among Turkish cities, the capital of Izmir was considered suitable for
the following reasons.

Factors
such as nature, geography, and culture have made people more inclined to live
in Izmir, which has led to increased construction, infrastructure expansion,
and property value.

Although
property prices are rising in Izmir, they are still more favorable than other
major Turkish cities.

Things,
like being a tourist, migrating from other cities, and having a large number of
students due to numerous universities, have always made many people want to
rent a house in this city, making it easy to rent property in Izmir.

According
to available statistics, the property is rented in Izmir for 19 years. This
figure has not changed for five years, which means that as property rates rise,
rental rates have also increased. Projects have been done in the Bujai,
Bernova, and Chile areas that have returned property prices to 12. The year has
been declining, which is more profitable.

Most of
the houses in Istanbul and Ankara are soulless and not attractive enough, but
in Izmir, they have a different shape; most of them have balconies that are not
enclosed due to high security, and this privilege allows them to enjoy the
natural scenery. In the meantime, you can see the tower and the residential
complex in every neighborhood –

All of
Izmir’s houses, thanks to the horseshoe-shaped seashore, can enjoy sea and
forest views. If you look at all of the property adverts, it is true because of
the four corners of the city. There are enough sea and forest views, which is
impossible in other cities.

Izmir,
Turkey’s safest city

Izmir is
the safest city in the metropolis, according to the Tweik Institute. This
feature is in line with the demands of a balanced population and high culture
of the people of Izmir, making it the safest city in Turkey.

Schools
and Universities:

In the city
of Izmir, in addition to public schools, there are many private and
international schools of varying standards and education, which allow parents
to choose according to their educational standards.

Despite a
large number of foreign and domestic students living in the city of Izmir and
increasing numbers of them every day, student houses, unlike other Turkish
cities, have more and better facilities due to high city standards. These eight
universities in Izmir are among the most famous universities in Turkey, which
are attracted by a large number of people from all over the world every year
due to their high academic rank.

Weather:

Izmir has
300 days of sunny skies, making it one of the sunniest cities in the world.

Age
average:

The mean
age in Izmir is 32.5 years, which is higher than the whole of Turkey with the
mean age of 29.5. As mentioned earlier, in recent years, neighborhoods such as
Orla, Alacati, Cheshmeh, etc. have become a destination for Europeans because
of the tranquil environment and pristine beaches.

Entertainment:

Alongside
the tranquility, these areas have some of the best beach clubs in Turkey,
allowing you to enjoy exciting leisure activities, where you will find two
ideal living features: relax and live together.

Transportation:

In the
city of Izmir, with city-wide facilities and extensive transport systems
including bus, subway, ferry, and station, it is easy to access all parts of
the city.

Finally,
in this beautiful and European city, foreigners can buy property on any budget.
At the same time, when paying, property documents are legally and notably in
the name of the buyer.

Restrictions
and requirements for foreign property buyers in Turkey

According
to the applicable law, in the field of real estate purchase and sale to foreigners
in Turkey, foreigners can eventually acquire and own 30 hectares of Turkish
land.

Meanwhile,
a foreign citizen cannot purchase property located in the military and security
areas and can only be bought with special permission. In general, only 10% of
the land and ownership of any area can be obtained by a foreigner.

Foreigners
can purchase any land and land upon request from relevant authorities. Besides,
foreigners must notify the Ministry of Agriculture and Urban Development about
the construction of the land within two years after purchasing the property.

It is
important to note that in the beginning, it is not necessary to have a Turkish
residence card to purchase Turkish real estate, and buyers can only buy Turkish
real estate with a passport and official translation into Turkish.

 Terms that invalidate home purchase contracts
in Turkey:

If the
agreement or arrangement concluded violates the law or if the relevant body
does not approve the transaction, also if the foreigner fails to file a project
within the deadline, the project will not be terminated following the schedule
provided by the contract.

Type of
contract and deed issued in Turkey for real estate

Transfer
of ownership in Turkey is only possible through official papers and documents
signed by the parties or their lawyers at the notary (notary). Failure to
register otherwise the mere solicitation does not create any obligation to
transfer ownership.

Topo:

Tapu
(Document in Turkey) is a legal document establishing the absolute right to
property acquired in Turkey. Concerning immovable property rights, the
documents issued by the Office of the Registrar in their content are presented
in pink and blue colors, each issued for a specific purpose.

The exact
address of the property

Biometric
Photo Owner of the document

Full
property specification of property in the Turkish Property and Documents Office

Uses and
permits provided in connection with the land on which the property is based

Total land
area

Type of
ownership

Property Price
in Turkish Lira

Seller
details (previous owner)

Buyer
Profile (New Owner)

Last
ownership change date

Previous
property registration number

New
ownership registration information

New
ownership change date

Date,
stamp and signature of the Director of the Document Registry

Documents
required for issuing a report (TAPO) in Turkey

Valid
passport with at least six months validity

Same buyer
tax number

Several
pieces of photo

It is
worth noting that there is no difference between a document issued to a Turkish
person and a foreigner, and the property is a specific property.