Buying a house in Türkiye

Benefits of buying property in Türkiye

At first glance, it may seem that the most important advantage of buying an apartment in Turkey or any type of property is obtaining residency in the country or obtaining a Turkish passport and using the benefits of citizenship in the country. But in fact, the most important advantage of buying a house in Turkey is experiencing a profitable and ideal real estate investment, given the upward trend in property prices in this country. By buying property in Turkey, you will experience an extremely good return on investment in the short term.

Turkey is a fusion of Western and European culture and traditional Asian culture. Families who have children under 18 and are concerned about their future prefer to have their children educated and raised in a modern environment that is not too far from Iranian culture and customs.

Buying property in Türkiye to obtain Turkish citizenship and passport

By purchasing properties worth at least $400,000, you can obtain Turkish citizenship and passport and enjoy certain benefits like a Turkish citizen. By obtaining a Turkish passport, it is possible for your spouse and children under the age of 18 to also receive Turkish passports.

According to the laws of the Turkish Immigration Office, applicants for Turkish citizenship and passports who apply through real estate investment are not allowed to sell their property for 3 years and a “description” is placed on the property document. If they want to sell their property before the end of the 3-year period, they must first cancel the passport they received and remove the deed description, and then they can proceed to sell the property.

At the end of the 3-year period, Turkish passport holders can sell their property and their passport will still be valid without owning any property. Applicants for Turkish citizenship do not need to live in the country and can hold Turkish citizenship and passport without being present in the country.

If you do not intend to immigrate and live in Türkiye and your goal is only to invest and obtain a Turkish passport, you can purchase pre-sale projects and earn much more profit from purchasing this type of property.

Buying property in Türkiye to obtain residency

By purchasing a property worth at least $200,000, you can obtain Turkish residency, which can be renewed annually. After 5 years of renewal of this residency, you can apply for Turkish residency.

Residency through property purchase is different from Turkish citizenship and requires presence in Turkey. According to the law, in this type of residency, you can purchase a residential property unit with your foreign nationality and live in it, and you cannot rent out your property.

For residential residency, a residential document is required for each adult over the age of 18. For those applying for residential residency as a family, the property document must be in the name of the head of the family, and under that category, the spouse and children under the age of 18 receive a residential residency permit.

Another thing to keep in mind when purchasing property to obtain residency is that the property in question is not located in a restricted area (areas where the number of foreigners living there exceeds the quota).

Comparing property purchases in Türkiye with other countries

You will not find any European country that has such ideal conditions for investment and granting residency or citizenship. In the OECD region, Turkey has the largest housing market after the United States and ranks first and most dynamic in Europe.

The housing sector in Turkey has had a positive impact on Turkey’s economic growth for 59 consecutive months. Turkey is the only country in the world where you can obtain citizenship and a passport by purchasing a property worth $400,000. To put it simply, by buying a house in Türkiye, in addition to the high return on investment, you also get a Turkish passport as a gift!
From the past 2 years to date, investors have earned 2.5 times (250%) in dollar profits by purchasing property in Türkiye.

Given the great potential and bright future of real estate price growth in Türkiye, residency or obtaining a Turkish passport is the minimum benefit you will gain from investing in real estate in Türkiye.

The most important points for buying property in Türkiye and obtaining citizenship

✓ It is not possible to obtain Turkish citizenship jointly. This means that property documents can only be used to obtain citizenship for a “single family”. Even if the property or properties purchased are worth $2 million, it is still not possible to obtain citizenship for multiple families.

✓ If your goal in buying property is to obtain Turkish citizenship and a passport, the owners of the properties in question must be Turkish citizens. Obtaining citizenship by purchasing from foreign owners or even foreign owners who have already obtained their citizenship is not possible, and this law also applies to builders. The presence of a foreign partner in the construction company can disrupt the process of obtaining citizenship.

✓ Each property must only have been applied for a passport once. If a foreigner has previously obtained a passport with the property in question, you should refrain from purchasing that property.

✓ Newly built properties and buying from the builder are the best choices, as you can purchase and obtain Turkish citizenship and passport without the need for research.

✓ If you plan to apply for Turkish citizenship by combining several properties, either the property deed must be registered in your name at the Notary Office, or if you want to apply for a passport with a notarized contract, the properties must be registered in your name at the Notary Office from a developer and in a copy of the contract.

Types of investment methods for buying property in Türkiye

The goal of investing is to receive significant profits and liquidate the property in the shortest possible time. As you know, the price of newly built properties is higher than properties that have been built for several years in any region. As the age of the building increases and the property deteriorates, the growth of the added value of the property stops, and it is only in conditions of inflation that the price of properties that have been built for several years grows.

The best way to invest is to buy from projects under construction and at the time of project sales (project launch). At the time of project launch, the prices announced by the builder are equal to the price of old houses in that area. This means the lowest possible price (market floor) that you can buy and at each stage of the project’s construction progress, you will witness an increase in the price of your property and at the time of delivery, you will become the owner of a newly built property with high added value and excellent investment returns.

In recent years, Turkey has been the record holder for the highest number of tourists in the world. If you are not interested in buying from under-construction projects, the best investment for you is to buy properties with an Airbnb license (daily short-term rental license) and receive dollar rent.

If you want to live in the purchased property and the property under construction is not what you need, or you do not intend to rent out your unit and do not want to earn income from the rental, the best way to invest in real estate is to choose properties near the sea or the property you purchase so that the economic and employment hubs are less than 20 minutes away and the travel costs to the employment hubs are low.

Many applicants, in addition to the goals of obtaining Turkish residency or citizenship, also want to benefit from investment profits. The types of property you can buy for investment in Türkiye include:

Newly built property or apartment

By purchasing a newly built villa or apartment, you can easily and in the shortest possible time apply for residency or passport. These types of properties are of high quality due to their new construction, beautiful architecture, and modern and complete equipment and facilities. You can purchase newly built properties and apartments in Turkey in cash or in installments (pre-sale).

Installment property or apartment

In Turkey, ready-to-move-in properties are usually bought and sold on cash terms, and installment terms are possible for projects that are under construction. As we said before, investing in projects that are under construction will bring you higher profits.

In under-construction and installment purchase projects, you can make a 35 to 50% down payment and pay the remaining amount of the property in installments of 12 to 60 months, depending on the project.

A notable point about projects under construction in Turkey is that in these projects, shortly after construction starts, the property documents are ready for transfer from the municipality, which reduces investment risk.

Note that in Turkey, you can receive the property deed by purchasing in cash, and in purchasing with installment terms, you will initially have a notarized contract that is as valid as the deed, and at the end of the installments and settlement of the property amount, you will receive the deed.

Second-hand property

Properties owned by individuals are called second-hand properties. This means that the property may not be turned over, but because the owner is an individual and not a construction company, it is available for sale as a second-hand property.

These types of properties are more suitable for investment and rental income. According to statistics, 97% of housing transactions in Turkey are carried out by Turks themselves, and among Turks, in order to keep the cost of the deed (4% of the transaction amount) lower, it is customary to declare the purchase price of the property to the document office much lower than the transaction price. Since one of the requirements for obtaining a passport and citizenship or obtaining a residence permit is that the transaction and purchase price of the property is officially transferred from the bank and the full payment amount is recorded on the deed, when buying a second-hand property with the aim of obtaining a residence permit and a passport, a high profit tax is levied on the seller of the property, which he is unwilling to pay.

Only properties that have been owned by the seller for 5 years are eligible for the tax exemption. Otherwise, the seller will add the tax to the price of the property. For this reason, we recommend that you do not go for second-hand property with the intention of obtaining a passport or residency.

Buying an apartment in Türkiye

The price of apartments in Türkiye is much cheaper compared to the price of apartments in Iran and neighboring countries. You can buy several apartments in Türkiye with the capital of one house in Iran!
You can buy ordinary and cheap apartments to luxury and expensive apartment units in different neighborhoods of small and large cities in Turkey. Below we will introduce you to the types of apartments in Turkey:

Normal Apartment (Regular Apartment)

Normal apartments are ordinary apartments with three, four or even five floors that do not have security, green space, and a number of amenities such as a swimming pool, gym, etc. There is no central air conditioning system in normal apartments and a package is used. These apartments are available in new and old versions in each area and have a low monthly building fee (aidat), which varies from 300 to 500 liras. Click to view the price list and buy normal apartments in Türkiye.

Click to view the price list and purchase a normal apartment in Türkiye.

Cité (complex or town)

A gated community is a normal apartment complex, tower complex, villa complex, or a mixed complex of apartment types in Turkey that is located in a controlled and impassable area for non-residents of the complex, and has green space, amenities, and 24-hour security.
The type of amenities and materials used in the apartments depend on the strength of the builder and the level of construction of the apartment. In the apartment, depending on the taste and level of the builder, the heating system can be a separate heating system and package in each unit, central heating system or underfloor heating. Split or duct split is also used in the cooling system.

Inside most of the cities, a smart home system has been implemented, and new projects use solar panels and polyethylene tanks to collect rainwater, and it is possible to charge electric cars in the parking lot.

The management of the apartments in Turkey is carried out by companies, traditionally not elected from among the members of the building and depends on the number of bedrooms in the apartment. The amount of the charge (aidat) is calculated per square meter of the apartment and each unit is charged depending on its area. The amount of the monthly charge per square meter depends on the amenities of each apartment.

Click to view the price list and purchase a residential complex (Site) in Türkiye.

Residence

Residences are single towers that have become popular in Turkey in the past few years and use more modern and high-quality materials. They are built by strong and international companies that have complied with all the principles of earthquake resistance and have been able to obtain a construction permit from the government. Residences have security and amenities like 7-star hotels, but most of them do not have green spaces and courtyards and have a high monthly charge compared to other types of apartments.

Villa

Villas in Turkey are built both in complexes and independently. Old and new villas are found in most areas around the sea, forests and lakes of Turkey. Independent villas have an outdoor pool, sauna, jacuzzi and Turkish bath, and depending on the size of the villa, tennis courts, basketball courts, etc.

Villas that are inside the city certainly have more amenities, especially security. The price of a villa in Turkey depends on the area, area and facilities. After the earthquake in Turkey, the number of applicants for buying a villa has increased. Click to see the price and buy a villa in Türkiye.

Capital required to buy property in Türkiye

The price of property in Turkey varies greatly in different cities and regions and depends on various factors. The amount of capital depends on your purpose of buying a property. If you want to find a property according to your goals and budget, you need to talk to our consultants at Home Turkey in advance. In this way, you will have the chance to buy the best house in Turkey.

But in general, if you intend to buy a house in Turkey to obtain residency, your minimum investment amount should be $200,000. Also, if you want to apply for Turkish citizenship, the value of the property you purchase should be at least $400,000. If your goal is to invest without the need for residency, you need at least $100,000 in capital.

The best cities to buy a house or apartment in Türkiye

The best cities you can choose to buy property in this country are as follows:

• Istanbul, Izmir, Trabzon, Ankara, Antalya and Bodrum

The cost of living in large and important cities like Istanbul is much higher than in other cities, but by living in this city, which is the economic hub of Turkey, you have both income and life in beautiful nature.

One of the important things to consider when choosing your desired city is your purpose for buying property in this country. First of all, answer the following questions:

1. Do you plan to immigrate and live in Türkiye?
2. Do you plan to create a job in Türkiye after immigrating to Türkiye and does your job need to be dependent on a specific location?
3. Are you interested in buying property and investing in Türkiye, but don’t want to live in Türkiye?

By answering the above questions, you can make a better decision about choosing your city.

House prices in Türkiye and its various cities

The price of buying a house varies in different cities in Türkiye, and the average property price in different areas of each city also varies.

For example, in Istanbul, house prices start at $100,000 in areas far from the center and go up to $4 million in upscale areas. In popular Turkish cities such as Izmir, Bodrum, Antalya, and Ankara, property prices are similar to Istanbul.

Rules for buying property in Türkiye

According to Note 35 of the Turkish Real Estate Law of 2012, buying property in Turkey is free for foreigners, except for those from countries that are prohibited from doing so. Currently, some European countries, including Cyprus, Belgium, the Czech Republic, and Slovakia, are not allowed to buy a house in Türkiye.

In addition to this, there are other rules:

• It is not possible for foreigners to purchase property in military and security zones in Turkey.
• Each foreign national will only be able to purchase a maximum of 10 percent of the real estate and land in each district or city, and no more than that is possible.
• Each foreign national is only allowed to purchase a maximum of 30 hectares of land in Turkey.
• It should be noted that foreigners are not allowed to buy houses in rural areas and near villages, so buying a house in Turkish villages is not possible, except for the purpose of obtaining citizenship of this country.

Documents required to buy a house in Türkiye

To buy a house or any type of property in Turkey and receive its official title deed, you will need the following documents. These documents have been introduced based on the latest government regulations in 2022:

1. Translation of birth certificate and passport

An official translation of the applicant’s birth certificate and passport, which must be certified by a notary public. The translation of documents is completed in a short time and costs approximately 1,500 liras.

2. Vergi Nomarasi

The tax number is the same as the tax code. The tax number is issued by the tax office upon presentation of a passport and does not have a specific legal process.

3. Biometric photo

This photo is taken according to specific standards and is known as a biometric photo.

4. Currency Conversion Certificate (Dovis Aleim Belgesi)

Doviz Aleim Belgesi or DAB is one of the important documents issued by the bank. The buyer must deposit the capital for the purchase of his property in a valid bank account in Turkey in dollars or euros and pounds and provide the bank with information about the property he intends to purchase.

The bank converts the foreign currency entered into the account into lira at a higher rate than the Central Bank, which is to support foreign investors, and holds it in your bank account until the day you instruct the bank to transfer the funds from your account to the seller’s account.

The Turkish banking system is connected to the Deeds Office system and informs the Deeds Office of the amount of currency converted into lira and the characteristics of the property in question under the DAB forms and provides you with a copy of this form. This form is the Doviz Aleim Belgesi or Currency Conversion Certificate. The presence of this form is mandatory for foreigners in the process of naming the deed and purchasing the property.

5. Money transfer receipt

This receipt is confirmed by the bank and presented to the buyer. The transfer receipt shows how much the buyer has deposited into the seller’s or manufacturer’s account on what date.

6. Dusk Insurance

Without this insurance, the property cannot be sold and it is mandatory to register the water and electricity meter of the house in the name of the buyer in the relevant offices. This insurance is the “Compulsory Natural Disaster Insurance in Turkey” which is implemented for home insurance against earthquakes and natural disasters and is of course mandatory.

7. Power of attorney for document transfer

People who buy their property from construction companies must give power of attorney to the construction company’s lawyers to name the property deed. In a second-hand property transaction where the owner is an individual, either party who cannot be present at the deeds office at the specified time can give power of attorney to transfer the deed.

This power of attorney is one of the necessary documents for document administration when requesting (rendezvous) for document registration. It is important to note that for people who want to issue this power of attorney in another country outside of Turkey, they must go to the Turkish embassy in that country and issue this power of attorney there.

A power of attorney in Turkey is approved if it is registered and apostilled in the notary public offices in Turkey or from the Turkish embassy in other countries. Dear compatriots, it is important to note that you cannot issue this power of attorney from the Turkish embassy in Iran, and to issue a power of attorney to buy and sell property or obtain citizenship, you must issue this power of attorney from within Turkey.

8. Taking a Rendezvous

To complete the rendezvous form, the seller must request a rendezvous through the website of the Land Registry. The Land Registry (or Land Registry) will request an appointment after 2 days to 2 weeks (this appointment will be notified to the seller and buyer via SMS). On the specified day, the buyer and seller will visit the Land Registry to transfer the document. If you do not speak Turkish, the presence of an official court interpreter at the Land Registry is required.

Costs of buying property in Türkiye

Apart from the down payment for buying a house in Türkiye, there are other additional costs. These costs are as follows:

• 4% of the amount declared to the Deeds Registry (4% DAB sheet) as the deed transfer fee, which is the responsibility of the buyer. For projects that are in the urban demolition and reconstruction plan, the first buyer is exempt from paying the deed transfer fee.
• 2% of the property purchase price is the real estate agency commission, which is charged from the buyer for second-hand properties (if owned by a person). In projects where the purchase is made from the builder, the agency commission is paid by the builder and you do not need to pay the commission.
• ⁠1 to 20 percent value-added tax that the buyer must pay. In order to support foreign investors, if the purchased property has a value-added tax of more than 1 percent, a one-time tax exemption is granted to the foreign buyer. The value-added tax is 1 percent for properties with a residential title and a net useful area (net) of less than 150 meters, and 10 percent for properties with a residential title and a net useful area of ​​more than 150 meters. This tax is 10 percent for office and commercial properties with a net useful area of ​​less than 150 meters, and 20 percent for office and commercial properties with a net useful area of ​​more than 150 meters.
• 1% of the purchased property amount is deducted for property appraisal fees, including water, electricity, gas meters, and earthquake insurance, as well as the cost of capital turnover tax and the translation and stamping of documents.

The most important criteria for buying a house in Türkiye

To make your home purchase in Türkiye and investment a success, you must apply all of the following criteria together. You are responsible for protecting your capital and growing it.

Choosing an honest and experienced consultant

Lack of sufficient knowledge of the laws and procedures for real estate transactions in Turkey, lack of familiarity with the cities and lifestyles of people in the regions, failure to recognize mortgaged and debt-laden real estate documents, failure to recognize reputable and reputable builders who do not encounter problems in obtaining a completion permit, failure to know the government’s strategy in urban growth and development plans, and most importantly, lack of knowledge of real prices, make it essential to have an experienced consultant when buying property in Turkey, which is the most important condition for your success in buying property outside your country.

Place and location of the house

The most important factor in pricing and growing your investment is location. Türkiye is moving in line with first world countries towards reducing costs and becoming more economical.

Locations in Turkey are valuable where transportation costs are lower. That is, they are located next to the metro, metrobus, and highway lines and are less than 20 minutes away from the employment center. Also, locations by the sea are always valuable and face price increases, because in the whole world, there is no land left for construction by the sea inside major cities.

Note that the concept of a great location in Turkey is slightly different from Iran. For example, in Iran, a house located next to a highway is of lower value, but in Turkey, land next to a highway is a privilege for top builders because transportation costs are lower there.

House prices in Türkiye

It has been said for a long time: “The profit is in the purchase!” In order for you to have a proper understanding of this proverb, I will draw your attention to another proverb: There is no cheapness without reason!
Don’t be fooled by the cheap price. All the criteria together can make you successful in buying a property and investing. An experienced consultant will compare the value of the house to the market for you when visiting projects and will let you know the price range by visiting other similar projects in the same neighborhood.
You can get help from the housing purchase services in Türkiye and the Home Türkiye collection to determine the value of your home.

Manufacturer brand

Turkey’s top and reputable builders are international and very powerful builders and control Turkey’s energy, steel, tourism, clothing, etc. industries. They choose the best locations for construction in line with the urban development plan and sell properties with high quality and more reasonable prices.
The priority of all Turks when buying property is to buy from top Turkish builders. By buying from a famous Turkish builder, you are owning a branded property that is always valuable.

Area and size of the house

Turkish developers are building properties in smaller sizes to make homes more economical and reduce heating and cooling costs. For example, most one-bedroom apartments in Turkey are 50-60 square meters, and two-bedroom apartments are 90-120 square meters. We only see larger sizes in luxury projects (for example, one-bedroom apartments of 110 square meters and two-bedroom apartments of 200 square meters).

Important points before buying a house in Türkiye

The first step to buying a house and property in Türkiye is to determine the purpose of buying the property and the second step is the amount of capital considered. In addition to this, you should also pay attention to the following points:

1. Choosing a reputable and reputable real estate agency in a fixed and specific location that includes a team of experienced consultants and qualified lawyers.
2. ⁠Match the specifications of the property in question with the information in the document.
3. Ask your advisor to provide you with the necessary documents to prove that you have no bank or tax debts or building charges.
4. ⁠Avoid buying properties without a building permit and with a blue document. You may need to inquire with the municipality.
5. Ask who lives in your neighborhood and find out how the building is managed.
6. ⁠Receive the deposit you pay for the property reservation (kapoora), with the seal and signature of the construction company or real estate company that is between you and the owner.

Work permit in Türkiye by buying property

One of the important questions that is usually asked is about obtaining a work permit in Turkey by buying a house. It is necessary to clarify that if you receive a Turkish passport, you will no longer need a work permit, because you have received Turkish citizenship. Keep in mind that you cannot obtain a work permit in Turkey by purchasing a house or apartment to obtain Turkish residency.

You can apply for a work permit independently by finding a suitable job. In fact, regardless of how you have settled in Turkey, you must obtain a work permit in this country independently from the Turkish Labor and Social Affairs Directorate in order to work.

Conditions and methods of selling a house in Türkiye

There are rumors about Türkiye that say that foreigners suffer losses when selling property in Türkiye and are forced to sell their property to Turks below the price!

This is not true. To sell a house in Turkey, you just need to set a reasonable and customary price for your offer and entrust the sale of your property to a reputable agency so that they can sell your property more easily with proper advertising. Owners who entrust their property to multiple real estate agents are less likely to succeed in selling it.

If you decide to sell your property in Istanbul, you will reach a conclusion faster with the professional team at Home Turki.

Should we go to a lawyer or a real estate agent to buy property in Türkiye?

If you want to make a successful and profitable property purchase in Turkey, go to the experts. An experienced lawyer only knows the laws, but he is unaware of the lucrative cities and regions where the government’s strategic plans are being implemented, the areas and styles of their residents, the numerous projects and reputable builders, and does not have the expertise to calculate the real price of a property.

An experienced consultant has traveled this path many times, has helped many people become homeowners, and knows the ins and outs of every builder and project, as well as how to bargain with them.

Home Turkey, with more than 10 years of brilliant experience in selling property, is a collection of expert and professional consultants in purchasing property in Turkey. It has its own experienced lawyers to follow up on obtaining Turkish residency and passports, and offers you the best properties according to your investment goal and budget.