Why should an investor buy a property in Turkey and why Istanbul؟ Buying a property in
Turkey is one of the good and profitable
investments for foreigners, given the many
advantages that Turkey offers to foreign
investors, which include its distinctive
geographical location, active economy, low cost
of real estate, long-term residence, and the
possibility of obtaining Turkish citizenship.
Turkey is characterized by providing a variety of
properties, from luxury apartments to rural
villas, and investors can easily find the right
option for them. Moreover, Turkey provides a
good investment environment, and the real
estate sector in it works well, which makes the
process of buying real estate easy and smooth
Foreign investors who want to buy real estate in
Turkey must abide by the purchase laws, which
contain a set of conditions that must be met,
such as obtaining a tax identification number,
opening a bank account in Turkey, verifying the
authenticity of the property and making sure
that there are no legal or financial problems.
In general, buying a property in Turkey can be a
good option for people who want to invest in
real estate and achieve high returns, in addition
to enjoying a warm atmosphere, beautiful
nature, and a good standard of living.
Why should an investor buy a property in Turkey and why Istanbul
There are several reasons why Turkey, and
especially Istanbul, is a good place to invest in
real estate, and among these reasons:
- Strategic location: Turkey is located on the border between Asia and Europe, and is characterized by a strategic geographical location as it forms an intersection point between east and west, north and south. Thanks to its location, it enjoys good communication between countries and is a center for international trade and commerce.
- An active economy: Turkey’s economy has been growing rapidly in recent years, and is among the fastest growing economies in the world. Istanbul, in particular, is receiving a lot of attention from investors, as it is the economic and commercial capital of the country.
- Contract liberalization: Turkey witnessed reforms in the real estate sector, especially with regard to the liberalization of real estate contracts. Amendments have been made to laws related to real estate to improve the investment environment and increase confidence between investors and owners. Foreign investors can now obtain direct ownership of the property, which makes the buying process easier and more transparent.
- Real estate investment culture: Turkey has a strong real estate investment culture, as real estate investment is widely carried out and this type of investment is considered part of the investment culture in the country. Thus, real estate is highly subsidized by the government
Why should an investor buy a property in Istanbul Turkey
There are several reasons why buying a
property in Istanbul is good for the investor, including:
- Strong economy: Istanbul is the commercial and economic center of Turkey, achieving high economic growth rates, and witnessing great economic activity in many sectors such as tourism, services, and manufacturing. Thus, buying a property in Istanbul can be a good investment in the emerging economy.
- High demand: Istanbul is witnessing a high demand for real estate from residents and foreign investors, due to the increase in the population and the increasing demand for housing and commercial real estate.
- Infrastructure: Istanbul is characterized by modern and developed infrastructure, and enjoys the presence of public facilities such as public transportation, airports, schools, hospitals, and commercial centers. This makes it an attractive place for investors and residents.
- Cultural diversity: Istanbul is famous for its cultural and historical diversity, as it includes many famous tourist attractions and entertainment places, in addition to the different cultures that live peacefully in the city. Thus, buying a property in Istanbul can be an opportunity to enjoy the cultural and touristic diversity of the city.
What is the law of buying a property in Turkey
Foreigners are allowed to buy real estate in
Turkey under the Foreign Investment Laws
issued in 2012, according to the rules set by
Law No. 6302 known as the “Foreign Real
Estate Property Law”.
Here is some important information about the
real estate purchase law in Türkiye:
- The first step in buying a property in Turkey is to obtain a tax identification number (Vergi Kimlik Numarasi).
- The property can be purchased individually or through a Turkish company.
- Foreigners must obtain a permit from the Ministry of the Interior to purchase real estate in the border areas.
- Foreigners can buy residential and commercial real estate in Turkey without the need to obtain special permits, with the exception of border areas.
- Foreigners must obtain a residence permit in Turkey, which is a visa that enables them to stay for a specified period and renew contracts.
- Real estate in Turkey can be purchased in Turkish lira or foreign currencies such as the euro or the US dollar.
- Foreigners must pay registration and transfer fees and taxes related to the purchase of real estate in Turkey, and these fees and taxes vary according to the value and location of the real estate.
Investors and foreigners wishing to buy a
property in Turkey must ensure compliance with
the legal requirements and contact us for the
What are the conditions for ownership in Turkey
The conditions for foreign ownership in Türkiye are as follows:
- The buyer must be a foreigner or a Turk with permanent residence outside Türkiye.
- That the property being purchased be owned by the Turkish contracting person or company.
- The real estate being purchased should not be located in areas where foreigners are prohibited from buying real estate, and these include border and military areas and places that contain temples and protected historical sites.
- That the purchase amount be transferred from the buyer’s bank account to the seller’s account through local banks in Turkey, and that the transferred amount be complete.
- A residence permit in Turkey must be obtained before purchasing the property if the person is not a Turkish citizen.
- That the purchased real estate be ready for housing or renting, and it is not allowed to buy real estate that is swinging or that needs major reconstruction.
- That all fees and taxes related to the purchase of real estate in Türkiye be paid.
A foreign buyer must adhere to all of the above
conditions to purchase a property in Turkey.
Also, make sure to comply with local laws and
regulations in the buyer’s country, and contact us for advice.
What are the advantages of buying a property in Turkey
Turkey offers many advantages to investors
who want to buy real estate in it, and the most
prominent of these advantages are:
- Strategic location: Turkey is located on the front of the Black Sea and the Mediterranean Sea and is considered an important economic center between the European, Asian and Middle Eastern continents, which means that real estate in Turkey enjoys a distinguished strategic location.
- Achieving high returns: Investors in real estate can achieve high returns by renting real estate, and Turkey is witnessing an increase in demand for real estate for various uses, such as housing and business.
- Low purchase costs: The costs of buying real estate in Turkey are low compared to real estate prices in some European and other international countries.
- Residence: Turkey provides long-term residence for investors who own real estate in it, and it is possible to obtain annual residence and extend it for additional years.
- Turkish citizenship: Foreigners who buy real estate in Turkey can obtain Turkish citizenship, provided they own real estate worth $250,000 or deposit $500,000 in a Turkish bank for three years.
- Standard of living: Turkey is characterized by a good standard of living, and provides many advanced public and private services, including health care, education, transportation, and shopping.
Our real estate company “Hana” offers its
clients and all investors wishing to buy real
estate in Turkey a lot of services and provides
them with the latest new real estate offers that
Arab and foreign investors who wish to
establish their real estate projects in Turkey by
buying and investing apartments for sale in
Turkey are looking for.
Do not hesitate to visit our real estate
company’s headquarters or its official website
various general and legal real estate advice at
any time you want.