Property Purchase for foreigns in Turkey 2024
Index:
- What are the laws regulating foreign property ownership in Turkey?
- Why do foreigners seek to buy property in Turkey, especially in Istanbul?
- What are the requirements for foreigners to obtain Turkish citizenship through property purchase?
- What are the steps to buy property in Turkey?
- Why do foreigners seek to buy property in Istanbul?
- Apartments for Sale in Zeytinburnu
- Required Documents for Foreigners to Buy Property in Turkey in 2024
Why do foreigners seek to buy property in Istanbul?
Istanbul is not only Turkey’s top tourist destination but also its largest and most vibrant city. It combines modern living with comprehensive services, making it an ideal choice for investors and individuals looking for residency. While buyers' goals vary, some seek to purchase property to obtain Turkish citizenship, while others aim for strong returns in the thriving real estate market.
Our Residential Projects in Istanbul
We offer exceptional housing options to suit all goals in prominent areas such as Şişli, Başakşehir, Bahçeşehir, Beylikdüzü, and Zeytinburnu. Our projects reflect the unique character of each area through the services provided, available transportation, and surrounding facilities that cater to residents' needs.
Client Preferences and Project Features
Client preferences play a crucial role in shaping project details, varying based on:
- Personal needs: Whether related to size, design, location, or required amenities.
- Budget: Which determines the type of property and services available.
- Purpose: Whether for living, investment, rental, or obtaining Turkish citizenship.
We ensure our projects are flexible to meet diverse client requirements, such as proximity to schools or workplaces, availability of green spaces, or a quiet residential environment suitable for families. This approach allows us to offer options that align with our clients' aspirations and lifestyles.
Click here to view properties in Istanbul
Apartments for Sale in Zeytinburnu
Due to client demand, there has been a notable interest in our residential projects in Zeytinburnu, thanks to the area's proximity to major landmarks and malls such as:
- The Byzantine Walls
- Panorama 1453 Museum
- Olivium Mall, a seaside commercial and entertainment center
We offer a variety of projects in this area with different sizes, designs, and price ranges, including:
Project 0-11
- Total Area: 111,000 sqm
- Buildings: 17
- Units: 560 apartments, including residences and home offices
- Commercial Units: 57 shops featuring top Turkish brands in food and clothing, and high-end restaurants and cafes
- Unique Feature: The project incorporates historical buildings that were part of the Ottoman army, adding cultural and historical value
Prices for 2+1 apartments start from $753,000, blending modern design with historical charm and a prime location.
Istanbul Complex 142
- Location: European side, Zeytinburnu
- Land Area: 3,791 sqm
- Buildings: 2
- Units: 167 residential apartments
Offering 1+1 to 2+1 apartments with sizes ranging from 45 to 165 sqm, this project gives clients the flexibility to choose a home that fits their needs and lifestyle.
Required Documents for Foreigners to Buy Property in Turkey in 2024
To complete the property purchase process in Turkey, foreigners must prepare a property transfer file containing the following:
- Valid passport
- Translated and notarized copy of the passport in Turkish
- Tax number
- Personal photos
- Signed and notarized purchase contract
- Property valuation report
- Foreign currency exchange receipt from the Turkish Central Bank
- Proof of payment transfer to the seller’s account in Turkish Lira
- Earthquake and disaster insurance policy
- Land registry fee payment receipt (4% of property value)
- Appointment at the Land Registry and Cadastre Directorate
These documents ensure a smooth and legally compliant purchase process. At Damas Group Real Estate, we offer a wide range of projects in Istanbul, catering to your needs, whether you are looking for apartments for sale or villas for sale.
Click here to view properties in Istanbul
Objectives of Property Ownership Laws for Foreigners in Turkey
- Boost real estate investment in Turkey.
- Attract hundreds of foreigners seeking housing or investment opportunities.
- Support the local economy by stimulating tourism.
- Encourage urban expansion and infrastructure development across the country.
- Create job opportunities in sectors related to real estate, such as construction, design, and other services.
- Enhance international relations.
- Increase demand for local services like education and healthcare.
- Achieve sustainable development through new real estate projects.
- Stabilize property market prices and provide long-term support for the Turkish real estate market.
Related Articles:
- Real Estate Residency in Turkey, click here...
- Studio Apartments: Features and drawbacks, click here...
- Real Estate Residency for Arab Communities, click here...
Keys to finding related properties:
- Apartments for sale in Istanbul
- Government-guaranteed properties
- Properties with special installment plans
- Properties for sale in Başakşehir
In the competitive real estate market, Damas Group Real Estate aims for excellence by offering the latest information and news about the Turkish real estate market. Our specialized marketing team is always ready to respond to your inquiries and answer all your questions. Our sales representatives are qualified and receive ongoing training to maintain top-notch work quality.
At Damas Group Real Estate, we have a diverse real estate portfolio that meets all your investment aspirations. We offer you our various options and aim to connect you with developers with whom we have strong relationships. We help you with all procedures, and even after you buy a property, we offer crafted investment plans to maximize returns through resale.. Contact us to learn more.
Since our establishment, we have been striving to reach the top in serving our clients. Your opinions and comments matter to us as we strive to climb the ladder of success towards the summit.
FAQ
To boost real estate investment, attract foreign investors, support the local economy, encourage urban expansion, improve international relations, and increase demand for local services.
Because it combines modern living with integrated services, offers a variety of housing and investment options, and provides residential projects in areas like Şişli and Zeytinburnu.
The required documents for foreigners to buy property in Turkey include a translated and notarized passport, a tax number, personal photos, the property purchase contract, the property appraisal report, earthquake insurance policy, and receipts for money transfers and payment of fees.
Foreigners are allowed to own all types of properties, including residential, commercial, land, and farms.
The steps to owning property in Turkey include selecting the right property, verifying the legal information of the property, obtaining a tax number, translating and notarizing the passport, signing the sale contract, and submitting the review application at the Land Registry Office.
The property must be worth at least $400,000 USD, with the condition of not selling the property for three years.
The basic requirements for owning property in Turkey include selecting a property that is not subject to military or security restrictions, verifying that the property is registered in the land registry, and complying with legal procedures.
Due to its strategic geographic location connecting Europe and Asia, competitive prices, advanced infrastructure, the possibility of obtaining Turkish citizenship, and diverse real estate investment options.
According to Article 35 of the Land Registry Law No. 2644, foreigners have the right to own property in Turkey following the legal amendment in 2012, which abolished the previous requirement.
