Guide to Buying Property in Turkiye
as a Foreigner
WHO IS ELIGIBLE TO PURCHASE
REAL ESTATE PROPERTY IN TURKIYE?
The acquisition of real estate property by foreign individuals and/or foreign legal entities in Turkiye is governed by the Land Registry Code No.2644, specifically Articles 35 and 36.
Currently, citizens from 184 countries are permitted to buy real estate in Turkiye.
LEGAL LIMITATIONS
Foreign individuals are subject to certain limitations when it comes to buying property in Turkey. The maximum total amount of real estate property that a foreign individual can acquire is thirty hectares throughout the country.
Additionally, the total maximum amount of real estate properties that foreign individuals can acquire within a specific district may not exceed ten percent of the buildable area in that district.
METHODS OF APPLYING FOR PROPERTY DEED TRANSACTIONS
Property deed transactions in Turkiye can only be conducted at Land Registry Offices. Applications can be made in person or through a representative with a notarized power of attorney.
To complete the application process for property deed transactions, the following documents are required:
- Passports issued by the competent authorities of the country of origin.
- A valuation report indicating the market value of the property for all sales transactions involving foreign individuals as buyers or sellers.
- If a power of attorney (POA) issued abroad is used for representation, it must be notarized and furnished with an Apostille in accordance with The Hague Convention on the Abolition of the Obligation to Certify Foreign Official Documents dated 5 October 1961. This should be done by the competent and authorized authorities of the country where the POA was issued. Alternatively, a POA can be issued by a Turkish notary.
- Mandatory earthquake damage insurance policy.
Sales Transaction for individuals
🗎 Required documents:
1. Identification Card (for Turkish citizens) or Passport. Foreign passports must be translated into Turkish and notarized in Turkiye.
2. Identity Declaration Form – The “Identity Declaration Form” requires a passport-size photo.
3. Power of Attorney (if represented by an attorney). A fully legalized Power of Attorney and its notarized translation must be submitted. If the transaction is conducted with a Power of Attorney issued abroad, the fully legalized original and certified translation of the Power of Attorney must be provided.
4. Valuation Report prepared by valuation companies registered with the Capital Markets Board or the Association of Valuation Experts of Turkiye.
5. Compulsory Earthquake Insurance Policy – The “DASK” (Deprem Sigortası) is a mandatory Earthquake Insurance Policy.
6. Sworn Translator. In case the purchaser or their representative does not speakTurkish, a sworn translator must be present during the transaction.
Associated fees;
1. Title Deed Charge – The title deed fee is calculated based on the total purchase price. It is collected separately from both the buyer and the seller at a rate of 20 per thousand of the sales price above the declared sales price.
2. Title Registry Charge – The Title Registry Charge may vary depending on the specific land registry
Sales Transaction for Legal Entities
The purchase by foreign legal entities requires that such legal entities have been legally established in accordance with the laws of their respective countries and are eligible to acquire real estate property or limited real rights in Turkiye.
🗎 Required documents:
1. Authorization Certificate: This document verifies the authority of the representative acting on behalf of the commercial entity.
2. Certificate of Registration and Activity Report: an official certificate of registration of the company, along with an activity report. Additionally, the Signature Circular of the authorized representative should be included.
3. Original Power of Attorney (POA): If the person participating in the sales transaction on behalf of the company is a proxy, an original Power of Attorney in the prescribed format must be submitted.
Associated fees;
The title deed fee is determined based on the total purchase price.
It is collected separately from both the buyer and the seller at a rate of 20 per thousand of the sales price above the declared sales price, further these fees may also vary and are determined by the specific land registry where the transaction takes place.
References for Buying Property in Turkey:
- https://www.yourkeyturkiye.gov.tr
- https://www.mfa.gov.tr
