If you have some questions marks in your mind about buying real estate in Turkey, this page will help you to find it out your answers. If you do not find your answer on Frequently Asked Questions (FAQ) page, we will be glad to receive your questions from the contact page.
Question: Can I get the residence permit in Turkey (İkamet Tezkeresi) if I buy property?
Answer: Depending on the new law, every foreigner can receive a residence permit for 1 year (every year renewed with Tapu) until you sell your property. More information on foreign consultancy website.
Q: Do I need to get a residence permit in order to buy a property in Turkey?
A: No! You may buy property in Turkey without the residence permit.
Q: How can I get Turkish citizenship?
A: There are 2 ways to get Turkish citizenship.
1- Fast way is to buy property worth of 250.000 USD or higher, read here OR
2- Buy any valued property and keep it for 5 years with renewing your residence permit. You may read detailed citizenship in Turkey page for more information.
Q: How do I buy property in Turkey?
- Call Istanbul Homes to arrange a viewing tour appointment.
- Select the best choice on viewing tour.
- Agree on the sales conditions.
- Pay 5.000 USD downpayment upon sales contract signature. Sales Contract contains the details of the payment terms, bank info, completion date, key delivery, title deed delivery, and general terms & conditions.
- Istanbul Homes will follow up your tapu delivery and all conditions of the sales contract.
- If your circumstances require, you can leave us a Power of Attorney to conclude all the necessary paperwork.
Q: What kind of ownership document shall I have?
A: The ownership document (title deed) is called as TAPU in Turkey.
Q: What is the title deed (Tapu) like?
A: The Tapu is an official registry document in Turkey. It proves that you have ownership rights over the property. This ownership document is your registry at Land Registry and Cadastre Directorate.
Q: What is the appraisal report? Why is this required?
A: The appraisal report is a report showing the real price of a property that you are buying or selling. When one buys a property, Land Registry and Cadastre requests appraisal report verified by CMB (SPK in Turkish) before the title deed transfer to secure the deal against fraud. This process takes 3 - 6 days.
Q: Can I establish an investment company on behalf of my company abroad?
A: Yes. We already have experienced several times earlier. We have setup investment companies in Turkey owned by your private company abroad.
Q: Can my company abroad buy property in Turkey?
A: Yes and No. There are restrictions to sell the property to foreign companies. If you invest in a factory or industrial production, your foreign company may own. If you only want to buy and sell a property, foreign companies are not allowed. Governor Committee of the province will decide if a company might own property or not.
Q: May everybody sells real estate in Turkey?
A: Yes. Unfortunately, hotel receptionists, waiters, taxi drivers, jewelry dealers are the most well-known property sellers(!) at touristic regions of Turkey. Please be aware of these tourist hunters. Purchase property from professional agencies and established companies. Istanbul Homes is a registered real estate agency at the Istanbul Chamber of Commerce.
Q: What is the Real Estate Agent Service fee?
A: Whenever you buy a property from a real estate agency, registered and licensed real estate agents are entitled to receive 2% service fee over the actual sales price of the property both from the purchaser and the property owner separately.
Q: Why should I use a real estate agent?
A: Buying an apartment by Istanbul Homes has several advantages: firstly; you view a wide range of properties that match your budget and quality expectation. Secondly; You notice the differences between different property developers, not only one construction company. Third: you experience the benefit of our professionalism, secure buying process and great after sales services.
Q: Is there a negotiation custom on purchasing a property?
A: Yes and No. Negotiation depends on the agents' habits. Because every property has different owners, some negotiate and some not. In Istanbul, most of the mega project owners do not negotiate on price. They use mostly campaigns to pump up their sales. So better to catch these campaigns and sing up to our newsletter.
Q: Who can buy property in Turkey?
A: Every country citizens may buy property in Turkey except the countries which Turkey does not recognize diplomatically (like Armenia, North Korea and Syria)
OUTDATED ANSWER (WAS VALID BEFORE 21.May.2012): Turkey has a reciprocal agreement for the purchase of land and property with many countries. This means that the people of these nations that allow Turks to buy land in their countries, can in return, buy land in Turkey. Foreigners may purchase in their own name if the property is outside military zones. Based on these agreements foreigners of the following countries are eligible.
Some countries do not allow Turkish citizens to purchase property in their land. That is why the citizens of these countries are not allowed to buy in Turkey. There are some exceptions to this rule such as Russia. Citizens of Russia can buy with special permission of the Ministry of Internal Affairs (Icisleri Bakanligi).
Q: Can foreigners loan money in Turkey?
A: Yes, there are 2 ways. The bank loan or long-term payment plan from construction companies where you can buy a home with credit without the preparation of the documents. See all apartments for sale with payment plan here
Q: If I buy an apartment under construction, how much deposit is required? Can I pay in installments?
A: You pay approximately 5.000 USD reservation fee upon contract signature. Most developers offer payments on stages like the completion ratio of each building stage. Circumstances may vary from one developer to other developers. For a certain answer, you need to ask to our agent's payment plan table of each offer.
Q: I will buy a property soon. Before what documents do I need to bring from my country?
A: We need only your passport. All needed documents are prepared afterward depending on your passport upon purchasing.
Q: I want to open a bank account in Turkey. How can I open a bank account?
A: You need a tax number and address evidence. When you plan to come to Turkey, bring address evidence where your address and name wrote on the bill. According to the bank legislation, your address must be proven by an electric, water or internet bill which shows your address and name.
Q: Are there English speaking lawyers in Turkey?
A: Yes, there are independent English speaking lawyers in Istanbul. We can introduce them to you during your viewing trip if you request.
Q: How much money do I need to spend except the property price?
A: There are several costs upon buying property. Check this purchase expenses page.
Q: What should I expect to pay in maintenance fees?
A: Maintenance fee varies from complex to another complex. Upon purchasing a house, please ask the expected maintenance fee.
Q: How much tax shall I pay?
A: You pay "annual property tax" to the municipality. Environmental tax and wealth tax are added in the water bills generally.
Q: How can I ensure my property?
A: Ask Istanbul Homes staff to help you ensure your property for full risks.
Q: Shall Istanbul Homes help me renting out my property?
A: We help our customers to rent their property under secure conditions for long term. We do not give service for short-term rentals.
Q: How can I furnish my home?
A: Many developers offer furnishing packs. Istanbul Homes staff may help you buying furniture in modest shops too.
Q: Which services does Istanbul Homes offer?
A: You may visit us before and after sales services overview page.
Q: How can I organize a viewing trip with Istanbul Homes?
A: Istanbul Homes Real Estate office is on E-5 main road at Cevizlibağ, Zeytinburnu. You may reach us easily by Cevizlibağ Metrobus and Tram Station. If you are in Cevizlibağ, call our mobile phone directly +905495100707 ( customer hotline +902122553355 ), we come and pick you up in 1 minute! If you are abroad now, please contact us for an appointment.