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Loca Mahal

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Eurpark Hayat

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Marmara Evleri

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Norul Life 

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Avangart project

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Route Istanbul 

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Owning real estate for foreigners in Turkey

After the financial and economic crisis in 2012 and the needing of the Turkish gov. for investor and needing to pump money from abroad, Turkey agreed on the possibility of foreigners to own or invest a real estate in Turkey within certain conditions

The conditions  to own a property for foreigners in Turkey

The property has not adjacent to a security or military zone

The property has to  not exceed 30 hectares, and this law is determined by the Turkish Ministerial Council

Among these conditions, Turkey did not allow for certain nationalities to own property for some reasons

The countries that excluded are:

Syria, due to a vote in Hatay in 1939

Armenia, for historical reasons

Cyprus, for diplomatic reasons

North Korea and Cuba, due to Legal penalties

?Is there a second way to own for these nationalities

Yes, those nationalities can own property under a condition, he or she must have another nationality of a country that is permitted to own property

Or he can establish a company, after that the property is registered in the name of the company, but this method does not confer Turkish citizenship even if it exceeds the value of the property of 250.000 dollars

Note: There are several countries, including European ones, that set a specific period of ownership of property for foreigners, but in Turkey there is no specific period of ownership, it is for life

What are the papers required to own a property

  1. A valid passport and translated into the Turkish language

  2. Extracting the tax number to facilitate transactions

  3. A bank account in Turkey

?What is the tax value to own the property

The tax amount you must pay is 4% of the property’s value

You can also own property remotely by procurating a person, a real estate company or a lawyer

?What are the payment methods for owning a real estate for foreigners in Turkey

Payment methods differ from place to another. If the property is directly enabled by the owner, the owner determines the method of payment if it is cash or half  of the value of property as a down payment and the rest in installments, but in such a case the cash is the master of the situation

As if it is from a residential complex or project, and through a real estate and construction company, you can find a method that suits you for payment

Every company or every residential complex determines a specific payment method

For example: a real estate with a value of 100.000 dollars, the payment is as the following

40% down payment

The rest is via installments within a period of 12, 18 to 20 or 24 months

Note: This example does not applied to all apartments valued at $ 100,000

 

Therefore, Bellus Homes dedicate this article for you to give you the most important information and guidance for buying a property in Turkey

?Why Belos Homes

As a leading company in the field of real estate sales in Istanbul, we provide you with various guarantees and services, including:

We guarantee the credibility of our work with you

We provide a guarantee from the Turkish government after the acquisition of receiving the monthly investment return

A specialized team with experience dealing with all your requirements

Our services do not only include real estate insurance, but also include everything related to it in facilitating papers and transactions, following up on stays, and many more

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