FAQS about buying properties in Turkey
Turkey attracts many foreign investors wishing to own a property in Turkey, whether apartments, villas, or even investment lands, and there are many questions about the procedures for buying these properties and the type of papers required to complete the purchase process, in addition to that many people have no idea about the subject of the tax number and how to obtain Real estate residence, and it is also possible to ask about and how to transfer money to Turkey to buy a property and many other questions that will be answered in this article…
Q1: Do foreigners have the right to own properties in Turkey and how?
Yes, a foreign person has the right to own properties in Turkey, as stipulated by the Turkish Parliament in its decision issued in September 2012, according to which the right of foreign ownership is granted in Turkey without taking into account the principle of reciprocity.
Q2: What are the necessary procedures to buy a property in Turkey?
First: Choosing the right property for the investor, which is compatible with his investment objective and commensurate with his budget, and providing the following documents and information:
A copy of the title deed or the real estate statement.
A statement of the location of the property shown within the municipality's plan with the property number shown within this plan.
Property number according to the municipality's plan (for owning land).
4 personal photos.
The passport is translated into Turkish and certified by the notary.
Second: Obtaining the tax number from the Tax Department.
Third: Signing the purchase contract with the seller and paying 25% of the property value as a down payment, and then requesting to submit a request to transfer ownership to the region’s directorate and security authorities. Ownership within one day and extending to 45 days if the property was not previously owned by a foreign person.
Fourth: When the investor is informed of the approval, the title deed department must review the real estate registry (the title deed) with the seller. It is advisable to use a translator to verify the validity of the data and documents;
Both the buyer and the seller are subject to a tax called a sale and purchase tax amounting to 3% of the value of the property in addition to a tax on the buyer only and amounting to 1% of the property in exchange for an invoice allowance for the value of the property
Q3: What is the tax number in Turkey and how can it be obtained?
It is a number that is requested during legal and official transactions and is specific to each investor, and it can also be requested in the case of opening a bank account in Turkey, and the possibility of obtaining this number is not related to having an official residence in Turkey.
Q4: Can I buy an apartment in Turkey through the bank
Yes, of course, if the bank in your country accepts the purchase of the property and then transfers the payments to the owner in Turkey.
Q5: How many properties are allowed to be owned in Turkey and what is the duration of property ownership in Turkey?
The number of real estates that a foreign person can own depends on the person's nationality. Citizens of the Gulf countries can own an unlimited number of real estate. As for some nationalities, there is a limited number of real estate that can be owned (such as Palestinian nationality).
As for the duration of obtaining the property, it averages from one to three days, since after the approval is issued, the process of purchasing and transferring ownership does not require more than one day.
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