Buying Property in Turkey

If you are considering buying property in Turkey, you are entering one of the fastest-growing and most attractive real estate markets in the world. Turkey offers exceptional investment opportunities thanks to its strategic location, affordable property prices, and well-developed infrastructure.

In this article, we provide you with a comprehensive step-by-step guide on how to buy property in Turkey with Asas Al-tajhiz, a leading real estate company.

Overview of the Real Estate Market in Turkey

The Turkish real estate market is continuously growing, attracting thousands of foreign investors annually in major cities such as Istanbul, Antalya, and Ankara. This is due to high investment returns, affordable property prices compared to European countries, and Turkish government incentives for investors.

Key Benefits of Buying Property in Turkey for Foreign Investors

Investing in Turkish real estate comes with several advantages, making it one of the best options for investors:

• Competitive property prices compared to European markets.
• High rental yields, especially in tourist areas and major cities.
• Eligibility for Turkish citizenship when purchasing a property worth $400,000 or more.
• Continuous property value appreciation due to modern infrastructure projects.

Defining Your Purpose for Buying Property

Before starting the purchasing process, you need to determine your primary goal for investment:

• For investment and rental income: Seeking properties with high rental yields.
• For personal residence: Looking for a property that suits your lifestyle and family needs.
• For obtaining Turkish citizenship: Choosing a property that meets the required financial criteria.

Choosing the Right Location for Investment

Location is one of the most crucial factors affecting the success of a real estate investment. You should select an area with high property demand and essential services like schools, hospitals, and transportation.

Top Turkish Cities for Real Estate Investment:

• Istanbul: The economic center of Turkey and the best city for property investment.
• Antalya: The ideal choice for seaside tourist properties.
• Ankara: Turkey’s capital, offering stability and guaranteed investment returns.
• Trabzon: Suitable for Arab investors looking for peace and nature.
• Izmir: A rapidly growing real estate market in a modern city.

Can Foreigners Get Mortgage Financing in Turkey?

Yes, foreigners can obtain real estate financing from certain Turkish banks under specific conditions, such as:

• Having a verifiable stable income.
• Paying a 30-50% down payment of the property’s value.
• Providing the required financial guarantees.

Choosing a Reliable Real Estate Company in Turkey

Working with a trusted real estate company like Asas Al-tajhiz ensures a smooth and secure property purchase. We help you find the right property, offer legal consultations, and handle all purchase procedures with professionalism.

What to Check During a Property Visit?

Before making a purchase decision, make sure to:

Evaluate the location and surrounding services.
Inspect the construction quality and interior finishes.
Verify that the property has all legal permits.
Review the architectural plans and actual space measurements.

Legal Procedures for Buying Property in Turkey

• Selecting the right property with the help of a trusted real estate consultant.
• Obtaining a tax identification number from the Turkish Tax Office.
• Opening a bank account in Turkey for money transfers.
• Conducting a property valuation assessment to determine the market price.
• Signing the sales contract and paying the initial deposit.
• Registering the property at the Tapu (Land Registry Office) and officially transferring ownership.

Taxes and Fees for Property Purchase in Turkey

• Title deed transfer tax: 4% of the property value, paid to the Tapu Office.
• Property valuation report fee: Based on the property’s market price.
• Maintenance and service charges: Vary depending on the type of real estate project.

Obtaining a Residence Permit Through Property Ownership

After purchasing a property in Turkey, you can apply for a real estate residence permit, which is renewable annually as long as you own the property.

How Can Asas Al-tajhiz Help You Buy Property in Turkey?

With Asas Al-tajhiz, we ensure a smooth and secure investment experience from start to finish:

• Free real estate consultations to help you choose the best property.
• Exclusive offers on top real estate projects in Turkey.
• Comprehensive legal support to ensure a safe and problem-free purchase.
• Assistance in obtaining a residence permit and Turkish citizenship.