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BUYERS GUIDE

Real Estate With 5W1H in Turkey

Real Estate With 5W1H In Turkey

Using 5w And 1h Aproach To Real Estate In Turkey will answer your question of; Who, Why, Where, What, When and How you buy property in Turkey.

Who Can Buy Property In Turkey?

  • Only citizens of the countries determined by the Presidential Decree may acquire real estates and limited rights in rem in our country.
  • The legal grounds for acquisition of real estates and rights in rem by foreign natural and legal persons in our country are articles 35 and 36 of the Land Registry Law No 2644. The citizens of the countries, which are determined by the President under the authorization granted in the Land Registry Law, may acquire real estates and limited rights in rem in our country subject to the legal limitations.
  • Companies, which are established according to the laws of our country and whose shareholders include foreign natural persons, foreign enterprises or trading companies, qualify as “company with foreign capital” and may acquire real estates and limited rights in rem suitable for their operations. Among them, acquisition of real estates and limited rights in rem by those, in which foreign natural persons, enterprises or companies own 50% and more of the shares or with respect to which the foregoing foreign persons are authorized to appoint the managers even if they own less than 50% of the shares, shall be subject to authorization by governorships.
  • Incorporated trading companies, which are established according to the laws of their own countries, may acquire real estates and limited rights in rem only in case there are special provisions in the applicable laws. Any legal persons other than such trading companies may not acquire real estates and may not have limited rights in rem created to their favor.

Where Can You not buy Property In Turkey? (Legal Limitations)

  • If the real estate intended for acquisition is included in a “Special Security Zone”, authorization is required from the governorship of the place, where the real estate is located.
  • Real estates located in military forbidden and security zones are designated in the registry records, and land registry directorates provide due information.
  • Real estates located in military forbidden and security zones are entered into the land registry in 81 cities.
  • Total area of real estates that may be acquired by a natural person of foreign origin throughout the country is maximum thirty hectares.
  • Total area of the real estates that may be acquired by natural persons of foreign origin may not exceed ten percent of the area, where private property is allowed, in a district.
  • Natural persons of foreign origin and the incorporated companies established in foreign countries under the laws of their own countries are develop a project in relation with the unbuilt land they bought within two years and such project to be developed is to be submitted to the relevant Ministry for approval.
  • Real estates that are acquired in violation of the provisions of the applicable laws, that are found to be in use to the contrary of the purpose of acquisition by the relevant ministry and administrations, and real estates, for which the relevant ministry is not applied within due time or for which the projects are not implemented within due time, are subject to provisions regarding disposal. (For detailed information, circular no 2013/15, www.tkgm.gov.tr) 

Why Should You Buy Property In Turkey? (Reasons)

  • Whether you are looking for a permanent residence or a holiday home, Turkey is a great place to invest for foreigners.
  • Turkish economy is one of the strongest in the World. The property market and its benefits is growing faster nowadays more and more.
  • Property prices in Turkey are still very cheap and offers a wide choice of properties for every kind of budget.
  • The prices of real estates in Turkey are much affordable, better quality than similar properties in rival countries.
  • Easy buying process, Low property taxes, higher return profit,
  • Location of Turkey, climate, wonderful nature, long beach, historical sites, tasty cuisine
  • With its spectacular history, culture, nature and climate, Turkey has always been a desirable destination for our guest to while away the years.
  • These characteristics for leading a healthy and happy life are now more important than ever in this era of safely navigating through a global pandemic.
  • Hospitality is one of the most significant traits of Turkish culture because guests are considered to be as the gifts of God.

What kind of Property Can You Buy In Turkey?

  • From village houses and villas to apartments, foreigners can buy any property they want in Turkey within legal restrictions.
  • Residential Real Estate for Sale in Alanya Turkey: Any property used for residential purposes. Examples include single-family houses, condos, cooperatives, duplexes, townhouses, and multifamily residences with fewer than five individual units.
  • Land for Sale in Alanya Turkey: Foreign natural persons may buy any real estate, in areas where private property to buy land and fields is allowed. As a well established company, we have a very strong network to search for and find various options for our investors.You may prefer to buy land and build your dream Villa, or to construct your investment portfolio.  The options are limitless, and we are here with our expertise to provide you with the guidance needed to make sure you get what is best suited to your needs.
  • Commercial for Sale in Alanya Turkey: Any property used exclusively for business purposes, such as apartment complexes, gas stations, grocery stores, hotels, offices, restaurants, shopping centers and stores. We are very experienced as Real Estate consultancy to guide you to make the right. 

When Can You Buy Property In Turkey? (Timing)

  • Whether you are looking for a house for investment or to get rid of rent, you always have the same question in the back of your mind: "When is the best time to buy real estate in Turkey?" Even if you do not understand much, your eyes are on economic data and real estate advertisements. Sometimes the house you like exceeds your budget, and sometimes you find a house just for your budget. While you were thinking about it, you saw that the house you liked so much has been sold! How Can You Buy Property In Turkey?
  • Real estate season opens in spring! 
    Statistics don't lie. Data collected around the world on real estate say the real estate season opens in the spring. Realtors are experiencing their busiest periods during these months. When the weather is at its warmest, you should take this opportunity well when the schools are short before the summer break. Of course, there are certain advantages and disadvantages to buying a house during the real estate season. If you want to determine the best time to make a decision, we have compiled some advantages and disadvantages for you.
  • Advantage: The number of properties for sale is large!
    You may not believe it, but when the end of March and the beginning of April comes, real estate advertisements start to increase constantly. So why is this happening? The simplest reason is that in the spring, the weather is neither hot nor cold, so it is much easier to visit a home for purchase. Most sellers can wait for spring for just this reason.
  • Disadvantage: Competition!
    Yes, there are many houses for sale in the real estate season, but nobody wants to buy it? Many buyers, who are waiting for the season like you, appear before you as your potential competitors in your favorite houses. Naturally, this can cause the prices to rise. Therefore, houses that are cheaper in winter start to rise in spring.
  • Advantage: Ideal time to move in is the summer months
    Moving a house is stressful, especially if there is rain and mud, this stress multiplies. It is much easier to move when schools are on holiday and the weather permits. Therefore, in order to find your dream house, you should keep an eye on http://www.alanyarealestates.com/ in the spring months so that you can buy your house until summer.
  • Disadvantage: Don't make the wrong decision that the season is going to be missed!
    If you obsess, "You need to buy a house before schools close," this can be stressful and you can make the wrong decision in a hurry. So don't panic. alanyarealestates has brought thousands of people to their dream home, and you will definitely get your new home. Even if the season is off, Ideal Real Estate is always with you!

How Can You Buy Property In Turkey?
 

  • First and foremost research the agents thoroughly to ensure they are reputable and certified as there have been cases of nonlicensed agents attempting to sell homes to foreigners. Once you can verify their legitimacy and have checked up on the agent through peer reviews, their website and office address, then make contact to describe your price point and requirements as they may have more listings on hand than they actually post.
  • Homes in Turkey have three requirements: first, there must be a “tapu,” which is a title deed, “imar,” which is a building license and “iskan,” which is a habitation certificate.
  • It is highly advisable to check with the Land Registry Office, Tapu Dairesi in Turkish, to make sure the property you are checking out is legal for purchase and that the deed does not have any outstanding fines or debts connected to it, such as an “ipotek,” which is a lien on the property that you would be liable for if purchased.
  • In new builds, make sure the name of the title deed has been transferred to the contractor versus the landowner if that is who you are purchasing from and do not relinquish any funds and only pay for the property in full after the deed has officially been issued in your name.
  • Having an “iskan,” which is a habitation certificate, proves that the home is habitable and has been built according to the required standards and earthquake regulations. This will make getting loans or setting up a mortgage on the property possible and is decipherable by the deed having a check in the box for “kat mülkiyeti,” which means property ownership vs. the “kat irtifakı,” which denotes ownership of a building that is not yet habitable.
  • There are a number of requirements for foreigners and otherwise to buy property in Turkey.
  • If foreigners are purchasing the property on their own they will need a foreign identification number (yabancı kimlik numarası) as well as a translator and notarized translations of their passports, but it is also possible to give power of attorney, which would bypass the first two requirements.
  • There is also the rare situation that a military clearance, which could take up to a month, might be necessary based on proximity to military bases or strategic locations.
  • Foreigners intending to purchase land are also restricted to 30 hectares, and keep in mind there are strict regulations on being able to build on land here in Turkey.
  • Your Key Turkey is a wonderfully informative website prepared by Turkey’s Ministry of Environment and Urban Planning General Directorate of Land Registry and Cadastre for foreign property buyers. Check it out at www.yourkeyturkey.gov.tr.

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