Can foreigners buy property in Turkey?

According to the Turkish real estate legislation, residents of over 180 countries can acquire properties in Turkey.

In fact, the Turkish real estate market attracts a lot of foreign buyers. One of the reasons is that various payments and tax charges in Turkey are much lower than in the EU. For instance, property acquisition tax, which is 4% of the cadastral value, utility bills, and other tax rates.

Any property transaction in Turkey must be recorded in a special cadastral book. The buyer as the owner of the property is given a registration number.

Buying a property during construction is common in 80% of transactions carried out in Turkish property market. When you buy a property under construction, you are ensured a lower price and many companies offer an option to pay in installments until the end of construction.

Also, this way is convenient because the buyer, getting a house at the initial stage of construction, can choose the color of finishing materials and furniture for free. By the end of the construction, the property cost increases by 30% on average.

In addition, foreigners, as well as Turkish citizens, can buy property in mortgages in Euros, US dollars and Russian rubles.

Although foreign residents can buy properties in Turkey, there are some restrictions to consider before a purchase:

• Foreigners cannot acquire property in military restricted areas.
• A foreign person can purchase property up to maximum 30 hectares within the country.
• Total area of properties acquired by foreigners may not exceed ten percent of the district where the properties are located.