The process of buying property in Turkey

• What rights and obligations do foreign buyers have?

• Why do you need a real estate agency?

• How does a standard transaction work and can a foreigner take out a loan?

Citizens of which countries have the right to buy property in Turkey?

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In 2012, Turkey abolished the so-called “reciprocity principle,” under which only citizens of countries that offer similar opportunities to Turks could buy local real estate. Restrictions have been lifted for buyers from 129 countries. Especially for people from Azerbaijan, Kazakhstan, Turkmenistan, Uzbekistan and Kyrgyzstan.

Citizens of Russia, Ukraine and Belarus can also become full owners of real estate in Turkey. The transaction can be carried out for both an individual and a legal entity registered in Turkeybe guided.

Rights of foreign property owners

Investments in the Turkish economy are sufficient reasons for issuing a residence permit. Investments include, among other things, the purchase of real estate – both for personal use and for renting out. In addition, owners of items of any value can obtain a residence permit. And buyers who invest $250,000 or more in real estate have the right to apply for Turkish citizenship immediately.

Obligations of foreign property owners

There is an annual property tax in Turkey. All owners must pay it, regardless of their country of citizenship. Of course, there are also obligations towards municipal utilities. Foreigners must also comply with Turkish real estate laws. For example, the Tenancy Act, which actually prohibited the daily rental of apartments. Here you cannot do without the help of a licensed real estate agency.

How to search for property in Turkey?

Before you start looking for an apartment or villa that suits you, we recommend that you learn more about the Turkish real estate market, local laws, current prices, popular resorts... by contacting us - the licensed real estate agency Goodzone Homes . We organize property viewing tours. If you've already decided on a region, this is a good way to take a closer look at different locations. Such a tour does not oblige you to purchase a property, but in the event of a transaction, the agency or developer usually fully reimburses the cost of the trip (more on this in our next blocks).

The agency's task is not only to select suitable properties for you and organize viewings, but also to check the "cleanliness" of the property, draw up a purchase and sale agreement and submit documents for obtaining a TAPU (certificate of ownership). .

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We also offer an after-sales service - from connecting communications with the new owner to renting.

Step-by-step instructions for a standard real estate transaction

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Stage 1. Conclusion of a purchase agreement

Signing of the purchase and sale contractG

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In the first step, the seller and buyer conclude a contract. It contains information about the parties to the transaction, the property (floor plan, construction features, dates of commissioning, etc.), payment terms for the transaction and the responsibilities of the parties.

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When concluding the contract, the buyer only needs a foreign passport. The document is available in two copies and in several languages, for example Turkish and German (Russian, English, etc.).

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The contract itself, even if certified by a notary, does not have the effect of a document certifying the transfer of ownership. To do this, you need a TAPU (certificate of ownership).

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In Turkey, there is a title system for registering rights to real estate, that is, state bodies, represented by the cadastral department, prepare ownership documents, thereby guaranteeing the purity and legality of transactions at the state level.

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Notaries are not authorized to independently register purchase and sale transactions. A notary can only draw up a contract, the subject of which is the purchase and sale of real estate, and notarize the signatures on the contract.

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down payment

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When signing the contract, the buyer pays a deposit to reserve the property - 5-10% of the property price. It is advisable to specify the amount of the deposit in the contract as a separate clause in the contractual penalties applicable to both parties.

Stage 2. Preparation of documents for registration of the transaction

To sign the contract, an international passport is enough, but to finally establish ownership of the property and obtain a TAPU, you will need other documents. If requested, we will create a power of attorney for the real estate agent.

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If the buyer cannot/does not want to personally prepare the documents for registration of real estate ownership, he can issue a notarized power of attorney to his representative in Turkey, who will complete all formalities on his behalf.

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TIN received

The buyer, even a foreigner without a residence permit, must have an individual tax number in Turkey - this is a mandatory requirement for registering real estate, opening a bank account and concluding contracts with utility and telephone providers.

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The process is simple and takes a few minutes. To obtain a TIN, you must come to the district tax office (vergi dairesi), present your passport and submit an application.

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Opening a bank account – optional

The most common option for the transaction is to open a bank account in Turkey. This is convenient because you can pay your utility bills from the same account in the future. You will also need it when applying for a residence permit. Many Turkish banks have Russian-speaking staff and internet banking, so there should be no difficulties with account management.

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To open an account you need:

• International passport translated into Turkish (certified by a notary) and its photocopy;

• Tax number in Turkey (official document from the tax office);

• internal passport with registration stamp at place of residence.

A Turkish bank account can be opened in Euros, US Dollars or Turkish Lira. You can open all three foreign currency accounts at the same time. The process takes a few minutes and you can deposit funds immediately. There is no minimum deposit amount and the account can even be empty when opening.

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If you do not want to open an account in Turkey, you can pay the transaction via bank transfer from your country directly to the seller's account.

Stage 3. Payment for real estate

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You can pay for real estate in Turkey in Turkish lira, euros, dollars and British pounds. In Alanya prices are mainly given in euros. After personal agreement with the seller, you can choose a suitable currency by including this clause in the contract. The payment schedule is also stated there.

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Most often, transactions are paid via bank transfer. Part of the funds can be paid out in cash. Some construction companies accept payments at their offices in Russia, Ukraine, Kazakhstan...

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The property must be paid for in full by the time the TAPU is received. It is possible to purchase a property in installments, although in this case an encumbrance will be entered into the title deed, which can be removed after full payment.

Stage 4. Transfer of ownership and TAPU

The seller (or his authorized representative), the buyer (or his authorized representative), a representative of the real estate agency (sales manager) and a notary (state) translator meet at the cadastral office. When carrying out transactions with foreigners who do not speak Turkish, the signature of a government translator is a mandatory requirement for the legitimacy of the contract.

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This is where the transfer of TAPU, the main ownership document, occurs (by this point all taxes and other costs associated with the transfer of TAPU must be paid).

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The TAPU contains the following information:

1. Address of the place where the object is located;

2. Photo of the owner (2 photos are required to fill out the documents);

3. Information about registering the site in the cadastre;

4. Condition of the site (information from the cadastre);

5. the area of the property belonging to the new owner (proportional to the size of the purchased apartment);

6. type of ownership of the property;

7. property value;

8. information about previous owners;

9. information about new owners;

10. Date of purchase of the property by the previous owner;

11. TAPU registration number of the previous owner (changes upon transfer of ownership);

12. TAPU document registration data;

13. Date of purchase of the property by the new owner;

14. Seal of the cadastral authority, signature of an authorized person.

The deadline for receiving the TAPU is up to five days from the moment the seller submits an application to the cadastral office. After that, the buyer becomes the full owner of the property in Turkey.

Stage 5. Execution of contracts for utility services

The final step of the transaction is the execution of contracts with utilities (electricity, water, telephone, internet) for the new owner of the property.

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If you bought a new building, you must first obtain an Iskan - a technical passport for the apartment.

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To register for utility bills you need:

• Passport of the property owner (copy).

• TAPU for real estate (copy).

• Single Iskan (copy).

• Insurance policy (compulsory earthquake insurance).

• Water meter serial numbers.

• Applications for connection of utilities.

• A notarized power of attorney for a representative (if the owner himself is not involved in registering subscriptions).

Is it possible to conduct a real estate transaction remotely?

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Yes you can. To do this, the buyer signs a notarized power of attorney for his representative, who collects the documents on his behalf.

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Additional costs when buying property in Turkey

The additional costs of buying property in Turkey will be lower than in most European countries. In most cases they will not exceed 5-7% of the market price of the property.

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Real estate transfer tax

The buyer must pay property tax - 4% of the cadastral value of the property, which is usually lower than the market value.

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State fees when registering TAPU

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A cadastral fee is charged for issuing a certificate of ownership. You will also have to pay for the services of a state translator, whose presence is mandatory when dealing with foreigners.

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Notarial power of attorney

If the transaction (or parts thereof) is carried out remotely, a notarized power of attorney for the buyer's representative in Turkey is required. 

Compulsory insurance

All property owners in Turkey are required to take out earthquake and natural disaster insurance – DASK. Without it, it is not possible to conclude contracts with energy suppliers. The cost of the policy is approximately €10*

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*Stand: Aug 2023