What nationalities are permitted to purchase a property?

People from all countries may buy property in Turkey. The only limitations are for people from the neighbour countries. They can not buy property in the areas close to their homecounty border (Greeks can't buy from the Agean coast, Iranians can't buy from Van and Iğdır and so on). There are also some areas that no foreigners can buy from (areas of military importance and historical areas).

How long does it all take?

In areas where foreigners already own property it only takes 2 to 3 days to receive the final Tapu (Title Deeds). If you are the first foreigner to buy in an area you will have to apply to the military offices in Izmir to get a confirmation that it is not a military area. This permission may take 2-3 months.'

How does it work?

After signing the reservation contract we take you to the tax office to request a tax number. Then we go to the Notary Public where you give us a power of attorney to complete all the procedures in your name. After this the copies of the buyers passport will be handed over to the local land registry office. After the approval our company pays the necessary fees and taxes to one of the authorised bank. The official receipts of these taxes and fees will be declared during the transaction in the Land registry office. After transfering the TAPU (title deed) into your name we will make the official registration of water and electricity meters.

Do I have to be a resident or have a resident’s visa to purchase?

No, to buy a property you do not have to have a Resident visa. A resident visa is only required if you want to stay longer than three consecutive months, or wish to have a phone or buy a car. Then the three-month tourist visa is not enough.

What do I have to check before purchasing?

Check that there are no outstanding rental agreements or mortgages.
Also check that the seller has the legal right to sell the property and that they have a Tapu ( Title Deeds) for it. If you buy an apartment or villa check that it has got the final certificate of residence from the muncipality (iskan belgesi).

Do I have any Taxes and fees to pay for the purchasing?

There are some taxes payable, however these are a “once only tax” :
Conveyance tax - 4% of the declared value of the property

Other one time fees in title deed office - approx. 185 Euro

Power of attorney approx. 160 Euro

Appraisal report (obligatory for foreigners from March 2019) approx 200 Euro

Connection of electricity 150 Euro if first time connection and 60 Euro for transfer of existing connection

Connection of water meter 80 Euro if first time connection and 20 Euro for transfer of connection.

If I sell my property can I take the proceeds back to my home country?

You have the legal right to take the proceeds back to your home country.

Can I will my property to my beneficiaries?

You can make a Turkish Will and leave parts your property to your beneficiaries, however if you hadn’t made a will, the property goes to your next of kin.

What would be the running costs?

Tax yearly : 0.1% of the declared cost of your property (paid every year in May)
Obligatory insurance (earth quake): approx. 40 euro per year

Electricity: approx. 0.10 Euro per kwh

Water : approx. 0.50 Euro per m3

Internet: from 12 Euro per month