The real estate law in Turkey
allows foreign investors to make investments in this field and have full ownership for the purchased property. The Land Registry law
regulates the purchase, sale and ownership of immovable property for foreign investors
and those who want to make these types of acquisitions must know the legal basis for investments in real estate.
The team of lawyers at our law firm in Turkey
can help you with information about the legal requirements for investments in real estate
and how the law regulates land and building purchase in Turkey.
Buying property in Turkey
According to the real estate law
, when purchasing real estate
in the country the buyer must make a transfer of ownership from the owner. This is done at the Land Registry Office
corresponding to the town or location of the property. The purchase process starts with a preliminary sale/purchase agreement concluded between the parties which contains the main conditions for sale and grants the parties some powers.
The sale agreement alone is not enough to transfer the ownership of the property. When making an application to the Land Registry Office, the buyer and the seller must present the following documents:
- the title deed of the property;
- identification documents;
- the property value statement document;
- earthquake insurance policy;
- photos of the seller and buyer;
- payment proof for the title deed fee and other taxes, if necessary.
The documents need to be translated and buyers can also use a power of attorney
if they cannot be present themselves during the sale process.
A lawyer in Turkey can act on your behalf during the transfer of ownership and later when signing the final sale/purchase agreement.
Restrictions on real estate purchase in Turkey
The Turkish real estate law contains some restrictions on the type and area of land that can be purchased by foreigners. The restrictions are as follows:
- purchase a maximum of 30 hectares of land;
- property purchase is not possible in military areas and security zones.
Individuals who acquire a land that has no immovable property constructed on it must submit a plan for the development of real estate within two years of the purchasing the land.
For other issues related to real estate like mortgage for individuals or companies in Turkey
you can submit an inquiry to one of our experts.