Frequently Asked Questions When Buying a Property in Turkey

When looking to buy property in Turkey, you will no doubt have some questions to consider. We will be more than happy to discuss the purchasing process with you either on the phone or in person but to help you get started we have shown some of the most frequently asked questions below:

Q: Why you should always use a real estate agent?
A:
Working with a real estate agent in your real estate transaction in a foreign market like Turkey can be highly advantageous. At TERRA Real Estate, we bring expertise to the local market, assist with negotiations, and guide you through complex legal processes. With a professional network and negotiation skills, TERRA Real Estate can facilitate a smooth transaction process. Our legal assistance ensures compliance with local regulations, and our client-centric approach ensures personalized service to meet your specific needs. Additionally, our diverse property portfolio and transparent communication contribute to a positive experience for foreign buyers seeking assistance in the Turkish real estate market. Check out the "Benefits of Using a Real Estate Agent to Buy a Property in Turkey" page.

Q: What services does TERRA Real Estate offer?
A:
TERRA Real Estate offers comprehensive assistance throughout the entire purchasing process, including obtaining a tax identification number, opening a bank account, obtaining a real estate valuation report, facilitating title deed transfer, managing utility connections, organizing furniture tours, and more. Visit our Services page to see the pre- / post-sale services offered by TERRA Real Estate.

Q: What about viewing trips?
A:  TERRA Real Estate offers a viewing trip that includes; a flight with a return ticket, transportation from and to Antalya Airport (or desired airport), and 3 3-night hotel with half board. We design your viewing trip around your needs and budget and at your pace. Read more about Viewing Trip to Turkey.

Property Buying Process

Q: What is the process of buying a property in Turkey?
A:
After payment of the reservation fee, TERRA Real Estate carries out comprehensive title deed checks on the property you want to purchase. A sales contract is prepared between the seller and buyer, outlining key details such as the completion date, payment schedule, and terms and conditions. The buyer pays the deposit after both parties sign this contract. Then, an application is made to the Tapu and Land Registry Office for title deed transfer, and you can get the title deed within 2-3 business days. You can sign a Power of Attorney at the notary public to conclude all the necessary paperwork if your circumstances require so. Learn detailed information about buying property in Turkey.

Q: How much does it cost to buy a house in Turkey?
A:
Title deed fees (Title deed conveyance tax, Land Registry, and Cadastre circulating capital fee), potential VAT on new properties, real estate agent commission, notary and translator fees, mandatory earthquake insurance, and connection fees. All costs related to real estate purchases are listed on our "Expenses of Property in Turkey" page.

Q: Is it necessary to obtain a residence permit before buying property in Turkey?
A:
No, you don’t need a residence permit to buy a property in Turkey!

Q: What documents do I need to buy property in Turkey?
A:
A copy of your passport translated into Turkish, 2 passport-sized photos, a bank account, a foreign exchange document, an appraisal report, and a Turkish tax number to be able to purchase a property in your name. TERRA Real Estate helps you to obtain a Turkish tax number from the local tax office.

Q: How long does the transfer of title deeds take?
A:
It usually takes about 2 to 3 days after the application is made to the General Directorate of Land Registry and Cadastre with all the necessary documents.

Q: Are properties in Turkey freehold or leasehold?
A:
Yes, all are freehold.

Q: Can foreign companies buy property in Turkey?
A:
Foreign legal entities (companies) can't buy property in Turkey. The foreign legal entity must establish a company in Turkey. However, since legal entities with foreign capital are established in Turkey, they can purchase real estate as long as they comply with the necessary restrictions and conditions.

Q: Can my company establish an investment company in Turkey?
A:
Yes. If you wish to invest in Turkish properties through a professional entity in Turkey, TERRA Real Estate can help you establish a Turkish company.

Q: Who decides the price of the property?
A:
If you are purchasing a property on a new development, the price will be set by the developer. Otherwise, the owners define the prices of their properties for sale. Whether or not an agent is involved in the purchasing process, you will pay the same price for the property. Thus, any buyer should buy through an authorized & registered agent to ensure that the buyer’s interests are taken into consideration.

Financial Process

Q: How much is the service fee paid to a real estate agent?
A:
Whenever a property is sold, registered and certified real estate agents are entitled to receive a 2% service fee based on the actual sales price of the property from the purchaser and the property owner separately. In most cases, TERRA Real Estate receives the commission from the seller and does not require any commission or service fee from buyers unless otherwise stated. On our listing pages, you can see that some properties include an agency fee, while some require an Agency Fee. This completely depends on the seller's choice.

Q: How much deposit do I need to buy a property in Turkey?
A:
For new properties, a reservation fee of 5% to 10% of the sales price is usually required, followed by a 30% or 50% first payment to be settled within four weeks. Most developers offer stage payments (lump sum to be paid after each building phase) often with a degree of flexibility towards your circumstances. This will be decided at the time of purchase. (Payment terms are in most cases negotiable with the developer.) See the list of properties with installments from construction companies.

Q: How can I be protected against exchange rate movements?
A:
Almost all listings and property deals are in EURO or USD to prevent all parties from exchanging losses equally. On the other hand in case you prefer to make a deal with another convertible internationally traded currency (GBP, CHF, DKK, SEK, NOK, etc.) to protect yourself against exchange rate fluctuations TERRA Real Estate can assist you in securing a rate fixed on the date of signing the sales agreement.

Q: Do Turkish banks give loans to foreigners?
A:
Yes. When applying for a mortgage loan, you will need to document your income, whether in your home country or elsewhere. TERRA Real Estate will assist you obtain the best financial product/solution at the current market conditions. There are some banks in Turkey where you can obtain a mortgage on the property you buy in Turkey. Read more about Mortgages in Turkey.

Q: What is the loan-to-value ratio in Turkey?
A:
In Turkey, banks' LTV rates for foreign buyers are 50%. This means you must pay 50% of the property value upfront. However, since these rates can be affected by economic conditions, regulations, and individual bank policies, it is necessary to regularly check the most accurate and up-to-date information on mortgage loan conditions and LTV rates in Turkey.

Q: Is it free to open a bank account in Turkey?
A:
There are no specific regulations requiring a fee to open a bank account in Turkey. However, some banks require an insurance fee of approximately 30 - 50 Euros.

Q: How long does it take to open a bank account in Turkey?
A:
You can open a bank account within one hour or less when you go to a bank with all the required documents ready. Learn more about opening a bank account in Turkey.

Q: What documents are required to open a bank account in Turkey?
A:
To open a bank account in Turkey, you typically need a valid identification document (passport), proof of address (lease or a recent bill), and a Turkish Tax Identification Number (TIN).

Legal Process

Q: Who creates a sales contract?
A:
Our sales contracts are prepared by our company lawyer.

Q: What should be included in a sales contract?
A:
A property sales contract is a legally binding document that outlines the terms and conditions of a property sale between a buyer and a seller. It includes the names and addresses of both parties, details about the property being sold, and the agreed-upon purchase price. The contract also covers key terms such as the closing date, financing arrangements, and contingencies. This document is crucial in facilitating a transparent and legally sound real estate transaction for foreign buyers.

Power of Attorney

Q: Can I buy a property with a power of attorney without being physically present in Turkey?
A:
Yes, you can buy a property in Turkey remotely with power of attorney.

Q: What is a power of attorney for property in Turkey?
A:
A power of attorney is a legal document that grants someone else the authority to act on your behalf when purchasing property in Turkey. This document allows the appointed person, known as the attorney-in-fact or agent, to make decisions, get title deeds, make payments, sign documents, and handle various transactions regarding your property in Turkey.

Q: How do I get power of attorney to sell or buy property in Turkey?
A:
You have the option to grant power of attorney to any notary public in Turkey.  The person you will designate as your attorney does not need to be physically present during the issuance, but in some cases, the proxy's identification information, your passport, and your photo may be required. Since all documents related to notarial procedures are in Turkish, a sworn translator is required for those who do not speak Turkish. Additional info; If you are not in Turkey or cannot come, it is also possible to grant a Power of Attorney from the Turkish Embassy or Consulate in your country.

Q: How much does a power of attorney cost in Turkey?
A:
The cost of a power of attorney in Turkey can vary depending on factors such as the complexity of the document, and the fees charged by the notary public for notarization. The fee is calculated based on the number of characters in the power of attorney document. So the cost depends on what is written in the document and what it is issued for.

Appraisal Report

Q: Is a property appraisal report mandatory in Turkey?
A:
As of 2019, the regulations in Turkey mandate property appraisal reports for all foreign property sales.

Q: How long does it take to receive the property appraisal report?
A:
It usually takes 3 to 6 days to receive the property valuation report.

Q: What is the validity of the property appraisal report?
A:
It is valid for 3 months. If the title deed is not transferred within these 3 months, a revaluation report must be issued.

Q: What is the purpose of a property appraisal report?
A:
The requirement for appraisal reports in Turkey for foreign property sales is designed to ensure fair market value determination, prevent mispricing, protect foreign investors by providing objective assessments, comply with regulations, facilitate transparent transactions, and contribute to consistent and standardized valuation practices, ultimately fostering confidence and legal compliance in the Turkish real estate market.

Q: How much does a property appraisal report cost in Turkey?
A:
The cost of a report can vary depending on several factors, including the type of property, the square meter, the location, and the appraiser's fees. For detailed information, visit our “Expenses of Property in Turkey” page.

Tapu (Title Deed)

Q: What is a Tapu (Title Deed) in Turkey?
A:
Tapu refers to a title deed, a legal document proving ownership of real estate, such as land or property. The tapu is issued by the Land Registry Office (Tapu ve Kadastro Müdürlüğü) and serves as official proof of ownership and the rights associated with the property. Receive further information about Turkish title deeds.

Q: Can I add someone to my title deed?
A:
Yes, it is possible to add someone to your title deed in Turkey through a process known as “joint ownership” or “co-ownership.”

Q: What happens to property when you die in Turkey?
A:
Since the properties are under freehold ownership, the properties are inherited by family members after death.

Q: How can I reprint a lost title deed?
A:
Yes, if you have lost your original title deed in Turkey, you can apply to the Tapu and Land Registry Office for reprinting.

Taxation

Q: What is a tax ID number in Turkey?
A:
In Turkey, a tax identification number (TIN) is a unique numerical identifier assigned to individuals and entities for taxation purposes. Also known as "Vergi Kimlik Numarası" in Turkish, this number is used in various financial and administrative transactions, such as filing taxes, conducting business, and interacting with government authorities. The tax ID number, a ten-digit number, helps track and manage individuals' and entities' tax-related activities, ensuring accurate record-keeping and compliance with tax regulations.

Q: How can I get a Turkish tax number online?
A:
Visit the official website of the Interactive Tax Office (https://dijital.gib.gov.tr/). Click on the "Potential Tax Identification Number Application" button. Fill in the form completely. When you submit the form, the system will give you a Tax Identification number. Explore additional information on obtaining a tax ID number in Turkey.

Q: How can I get my tax number again if I forget it?
A:
If you forget your tax number, you can easily get it again by going to the tax office or via the website of the Interactive Tax Office.

Q: What are the taxes on real estate in Turkey?
A:
State real estate tax and environmental tax.

Q: Do foreigners pay property taxes in Turkey?
A:
Yes, foreigners who own property in Turkey are subject to property taxes. Property taxes in Turkey are assessed on the property's value and are generally collected by local municipalities. The tax rates and regulations may vary depending on the type of property and its location.

Q: Do I pay capital gains tax on my property sold in Turkey?
A:
If you sell a property owned for at least 5 years, you are exempt from paying capital gains tax. However, capital gains tax applies if the property is sold within the first 5 years of ownership.

Q: How much is capital gains tax on property in Turkey?
A:
Capital gains tax on the sale of property in Turkey is calculated based on the difference in the gain in value shown on the title deed at the time of purchase and the value at the time of sale. The tax rate can vary depending on factors such as the duration of ownership and the property's type.

Process After Buying Property

Q: Do I have to pay a property maintenance fee (HOA) for the property even though I'm not using it?
A:
Paying the maintenance fee is both a legal requirement and a moral obligation.

Q: Who pays the maintenance fee, the landlord, or the tenant?
A:
The responsibility for paying the maintenance fee belongs to the tenant. However, in some cases, depending on the rental agreement, the maintenance fee may be included in the rental price.

Q: What is the DASK policy (TCIP) in Turkey?
A:
DASK (Turkish Catastrophe Insurance Pool -TCIP), also known as the Earthquake Insurance in Turkey, is a mandatory insurance policy for residential buildings against earthquake-related damages. Registering your property for utilities such as water, electricity, and natural gas is not possible without a valid policy.

Q: What does DASK insurance cover?
A:
DASK insurance covers the costs of structural damage to residences resulting from earthquakes. It also covers events directly related to earthquakes, such as fire or explosion, tsunami, and landslide. Whether the damage to your home is small or large, DASK insurance assures financial losses.

Q: Can I get home insurance in Turkey?
A:
Property insurance is one of our post-sales services. TERRA Real Estate helps you ensure your property at the most affordable rates. Visit our Property Insurance in Turkey page.

Q: Is there a property management service?
A:
Yes, some developments are managed by professional companies, whilst others by developers or the owners themselves.

Q: What should I expect to pay in maintenance charges?
A:
This varies between 30 – 200 Euros per month, depending on the size of the complex, facilities, and the number of apartments/villas in the complex. In most cases, for a 2-bedroom apartment, it is 50 Euro/month. TERRA Real Estate will inform you about this matter before purchasing.

Q: How do I pay my utility bills in Turkey?
A:
Use online or mobile banking offered by banks, pay from ATMs using the bill payment option, or set up automatic payments through your bank for on-time payments. Bill payment centers in public areas or authorized payment points like grocery stores are also available. Click for more information about subscriptions and utility payments in Turkey.

Q: Is it possible for me to rent out my property in Turkey?
A: Absolutely! As a foreign property owner in Turkey, you are permitted to rent out your property. You have the option to manage the property yourself or engage a property management company to assist you. For guidance on local regulations, and legal advice, and to simplify the rental process, feel free to contact us. We're here to help you easily navigate the rental landscape in Turkey.

Q: What about furnishing my property?
A:
A few developers offer furnishing packages. Besides, TERRA Real Estate assists you without any extra cost to purchase any items to furnish your property. Go to our “Furniture Shopping Tour in Turkey” page for details!

Residence Permit

Q: Can I get a residence permit in Turkey if I buy a property in Turkey?
A: Yes, purchasing property in Turkey can make you eligible for a residence permit. As a property owner, you are generally entitled to a residence permit that needs to be renewed every two years, as long as you maintain ownership of the property. However, it's important to be aware that certain areas or locations in Turkey may have restrictions. In some specific regions, owning property might not automatically grant eligibility for a residence permit due to security or other regional considerations. It is advisable to consult with a legal expert or a property advisor to understand the specific regulations and restrictions applicable to the area where you plan to buy property. Explore further details about the Residence Permit in Turkey.

Q: What are the new rules for residence permits in Turkey?
A:
With the new update on 16.10.2023, for foreigners to apply for a residence permit, the minimum value of the property they will purchase must be at least 200,000 USD. If the title deed value is below this amount, residence will not be granted.

Q: What documents are needed to apply for a residence permit in Turkey by purchasing property in Turkey?
A:
The required documents include the title deed of the property in Turkey, an appraisal report, the property's location information provided by the local municipality, a valid passport, 2 biometric photographs, a criminal record check, health insurance, etc.

Q: Can my family get residency if I buy a property in Turkey?
A:
Yes, your family members (Your spouse and your children under the age of eighteen) may be eligible for residency in Turkey if you buy a property. In such cases, additional documents needed for the application include the birth certificates of your children and your marriage certificate with an apostille.

Q: How do I get a family residence permit in Turkey?
A:
To apply for a family residence permit, you must have a valid passport, a completed application form, 4 biometric photos, a health insurance policy, proof of financial means to support your family, and your rental agreement or property title deed.

Q: How long can you stay in Turkey if you own a property?
A:
Foreigners who own property in Turkey can stay in the country for a maximum of 2 years. It can be renewed at the end of every two years.

Q: Can I apply for a residence permit without visiting Turkey?
A:
No, you can’t apply for a residence permit without coming to Turkey.

Q: How long does it take to get a Turkish residence permit?
A:
After sending your file to the International Office or directly to the Immigration Office and making your appointment, it may take from 1 to 3 months to get your residence permit.

Q: Is health insurance mandatory when applying for a residence permit in Turkey?
A:
Yes, the government requires anyone applying for a residence permit to have medical insurance that will cover them during their stay.

Q: How much does a residence permit cost in Turkey?
A:
A foreign national must pay certain fees to get a residence permit. The card fee (TRC) is a fixed amount valid for all nationals and averages 565.00 TL. Single entry visa fee varies depending on the type of permit, the duration of stay, and the applicant's nationality and averages 5,476.80 TL. Notary and translation fees vary depending on the number of documents to be translated and cost an average of 1800 TL. Health insurance fees vary depending on the age of the applicant and range between 1,000 TL and 5,000 TL.

Turkish Citizenship by Buying Real Estate

Q: How can a foreigner become a citizen in Turkey?
A:
Foreigners can become Turkish citizens in various ways such as through marriage, long-term residence, purchasing property, and investing or contributing to the economy.

Q: How do I get citizenship in Turkey by buying property?
A:
To obtain Turkish citizenship by purchasing property, property worth 400,000 USD must be purchased, obtain a residence permit, and submit a citizenship application with the required documents to the relevant authorities. You can buy any type of real estate (villa, apartment, office, shop, etc.) and one or more properties to achieve the $400,000 requirement. Get detailed information about Turkish citizenship by buying property.

Q: How much is the investment fee for Turkish citizenship?
A:
Apart from buying property worth at least $400,000, you can apply for citizenship by investing a minimum of $500,000 in fixed capital contributions, purchasing government bonds of $500,000, making a fixed-asset business worth $500,000, cash depositing at least $500,000 in a Turkish bank account or making a deposit of $500,000 to the Insurance and Private Pensions Regulation and Supervision Agency.

Q: How long do you have to live in Turkey to become a citizen?
A:
To be eligible to apply for Turkish citizenship as a property owner, you need to live in Turkey continuously for 5 years, holding your Tapu (title deed). During these 5 years, you should not spend more than 180 days total outside of Turkey. However, it's important to note that meeting this requirement allows you to apply for citizenship; it doesn't automatically guarantee you will obtain it. Each application is subject to approval based on the government's criteria.

Q: How long does it take to get Turkish citizenship by investment?
A:
Generally, the process involves several stages, including the purchase of the property, obtaining a residence permit, and submitting the citizenship application. As a rough estimate, you can get Turkish citizenship within an average of 3 months after applying but depending on the flow, it may take up to 6 months or longer.

Q: Can I get Turkish citizenship without coming to Turkey?
A:
Yes, it's possible. You can assign a power of attorney to a reliable person or a lawyer in Turkey. This way, they can manage the property purchase and citizenship application for you, without you needing to be there. Our team at TERRA Real Estate can handle the whole process for you. Once it's all completed, we can either send your Turkish passport to your address or hold onto it until you come to Turkey.

Q: How many nationalities can you have in Turkey?
A:
The Turkish government generally does not restrict its citizens from acquiring and maintaining citizenship in other countries concurrently. 

Q: Can I get Turkish citizenship by buying under-construction property?
A:
Turkish citizenship through real estate investment is possible, including the purchase of under-construction properties. If the property title deed value is 400,000 USD or more, you can apply for citizenship with a Notarized Property Purchase Commitment.

Q: Can I sell my property after obtaining Turkish citizenship?
A:
You must wait three years from the date you acquired Turkish citizenship before selling the property. On the other hand, if you want to sell your property in Turkey, you can contact us.


Note: The information mentioned on this page may vary depending on time and place. Content is updated annually by an Editor. While reading, please remember to check the date of publication. Last updated: 24.01.2024

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