Steps to Owning a Property in Turkey
Turkey is the country in the middle of the three continents of the world (Asia, Europe, and Africa) and is characterized by an important strategic location, a moderate climate and adequate living conditions, with security and stability that makes owning a property in Turkey an aspiration for everyone who desires investment and stability.
The Turkish government provides facilities for those wishing to own property in Turkey and obtain their new home and property in Turkey, through a smooth ownership mechanism.
What are the steps that must be followed to obtain and own a property in Turkey?
Steps to buy a property in Turkey
In general, the way to own a property in Turkey can be determined in several points:
- First: Searching for the right property, making sure that the property is suitable, that there are no taxes or loans on it, and that it is in its legal status. It is also necessary to choose a good location for the property within a suitable city, choose the appropriate neighborhood for investment, and ensure that the property information is correct with the municipality.
- Second: Issuing the tax number (Vergi Numarası)
- Third: To come to Turkey or to appoint a person to carry out the transaction on behalf of the buyer.
- Fourth: Preparing the papers necessary for the transfer of ownership.
- Fifth: After the procedures for selling and transferring ownership are completed, the buyer must come to Turkey within 15 days to receive the title deed and pay the remaining amount to the second party (seller).
Papers and documents required when owning a property in Turkey
- A copy of the passport: The passport is the document that a foreign citizen must present when he wants to buy a property. It must be a photocopy, translated into Turkish, and certified by an accredited Notary Center, where Notary offices are spread in all neighborhoods of Turkish cities.
- (Vergi Numarası) tax number: It is very important for all official financial transactions, and its extraction is very easy, as it can be obtained by visiting the tax department in any Turkish city to obtain it. It is used in many transactions in Turkey, including opening a bank account in Turkish banks.
- 4 personal photos: The title deed requires four personal photos (biometric), because the title deed administration in Turkey includes the personal photo of the property owner in the title deed.
Conditions for owning a property in Turkey
Here we mention the most important conditions for owning real estate in Turkey:
- Whoever wants to own an apartment in Turkey, or a property should come to Turkey to sign the purchase contract, and the buyer can appoint a person to represent him through an official legal power of attorney issued by an accredited authority.
- The legal eligibility of the property, where the property must be registered with the municipality, and the property does not require taxes or bank loans, and this is done by verifying the title deed (Tapu), and it is preferable to seek the assistance of an expert person to do this task.
- Opening a bank account in a government or private bank in Turkey.
- Issuing a tax number, by visiting the Tax Department, and it can be obtained through a government website.
- The official waiver of the property where the seller and the buyer or his representative must complete the legal assignment of the property.
- The arrival of the property owner or his representative to Turkey within 15 days after the completion of the procedures to receive the title deed.
Types of real estate investments in Turkey:
- Residential real estate: such as owning a house in Turkey, or apartments, palaces, and villas.
- Industrial real estate: warehouses, factories.
- Commercial real estate: shopping centers, administrative buildings, shops.
- Agricultural real estate: orchards, farms.
Important real estate tips when buying a property in Turkey:
- Choosing a suitable property in a suitable area with investment value, and in a location close to the vital places of the chosen city.
- Determining the value of the property, buying an amount that matches the value of the property, and following the principle of price-for-value.
- Ensuring the eligibility of the property through the land registry department and the municipality, knowing that it is not in violation and that it does not have any debts, loans, or seizures, and that the seller has the legal right to sell and does not share with heirs or partners.
- Research and obtain information about purchase procedures, the Turkish real estate market, and investment in Turkey.
- Consult real estate professionals in Turkey, and take advice from reliable companies or people, who have long experience in real estate investment in Turkey.
Turkey is a dream country and one of the best countries in the world in terms of stability, and Turkey has all the wonderful economic, political, life and social conditions that encourage owning a property in it.
The Turkish government offers a lot of facilities and a set of advantages of owning a property in Turkey, and the Turkish real estate market is one of the most developed countries and that is why foreign investors in general, and Arabs in particular, are increasingly accepting to invest in Turkish real estate, and this is what makes Turkey the best place to own Real estate for the purpose of housing and residence, and also for those wishing to invest.
Edited by: Greater Turkey©