Find out about the most important real estate investment laws in Turkey closely

Law and language are among the most important matters that the foreign investor who want to invest in the real estate market in Turkey or buy property in Turkey should be aware of closely, or at least to know them in principle so that the investor who is thinking about buying property in Istanbul is will informed while communicating with sellers and owners of real estate projects.

The matter is very simple for the first point which is “language” as it is resolved with an interpreter and here we point out that most real estate development companies provide this service. 

As for the second point which is the “law”, the foreign investor who wants to buy cheap apartments in Turkey must focus well on this issue. 

Because of its importance in clarifying the general vision about what is allowed in the legislations, and what are the limits that foreign investors should not exceed during the process of buying property in Turkey.

Laws in Turkey have known constant updates by the legislative authorities of texts and legal materials and some amendments to items that have changed the course of real estate investment in Turkey for foreigners and gave it a strong impetus, raising Turkey to the ranks of the strongest countries in the global real estate market.

Among the strongest and most famous real estate laws in Turkey is Article 35 of the Real Estate Registry Law No. 2644, which was amended by Law No. 6302, which applies as of May 18, 2012.

The law provides for the abolition of the condition of reciprocity for foreign investors who want to buy property in Turkey by obtaining information from Turkish embassies and consulates in the countries from which they come from and its citizens can purchase the property in Turkey or by reviewing the general directorates of the record Real estate and land registry across the various Turkish provinces.

The law also indicated that the same restrictions, conditions and legal procedures that apply to Turkish citizens apply to foreign investors in Turkey where a foreigner can buy any type of real estate "commercial stores, offices, homes, apartments, lands, villas, hotels ... and others"

This law has undergone amendments and additions, the last of which is obtaining Turkish citizenship in exchange for buying a property in Turkey with a value of only $ 250,000, after it was limited to one million dollars.

According to the legal systems in Turkey, the process of transferring ownership of the property from the seller to the buyer takes place through what is called a "tapu" aka title deed or a document of the full ownership of the apartment, house, or plot of land that the investor buys, as the property assets are registered with the Real Estate Registry Directorate in order to transfer the property Legal of the property from the current owner to the new owner, and there is another contract called a commitment contract for real estate under construction or whose dues are paid in installments, i.e. property in Turkey in installments, and this contract is signed by both sides "buyer and seller" at the Turkish notary, but this signature does not mean that this is the final transfer of ownership, given that the authorities in the country have identified one document for the property ownership,which is the title deed.

Legal conditions for buying property in Turkey

Legislative authorities in Turkey have established conditions for ownership of the property for foreigners, which we have summarized to you after careful reading of the various legal articles on the following points:

• 30 hectares is the maximum real estate area that a foreign investor can own in Turkey.

• It is prohibited for the real estate area in a particular city, town or neighborhood to exceed 10 percent of its total area, in which case the real estate registration directorates are ordered to stop granting real estate licenses to the foreigner.

• Foreigners are prohibited from owning or buying property in Turkey in the prohibited places in Turkey, foremost of which are the military and security areas, which contain important historical relics.

• Turkish law allows a foreigner to purchase land registered with the state as being suitable for housing in order to construct an architectural project on it, provided that his project is submitted to the related ministry according to the nature of the property and the goal of its construction within a maximum of two years.

• Violation of the purpose of owning or building the property results in canceling the sale.

• The real estate purchase contract is invalid in Turkey if it is done in violation of Turkish regulations and laws.

• Electricity, water and gas meter must be registered on the buyer's name after obtaining the title deed.

• Turkish courts are the only authorized party to resolve disputes of the sale of the property between the owner and the buyer.

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Legal documents necessary for the purchase of property in Turkey

The initiation of procedures for purchasing real estate in Turkey requires the submission of a set of documents, in which we separate:

• The serial number of the property obtained from the Real Estate Registration Directorate in the region in which you want to buy a property.

• Title deed of ownership of the property that contains detailed information about the apartment, house ... etc

• The passport of a foreign investor who wants to own property in Turkey with a copy of it translated into the Turkish language.

• Real estate appraisal document for the apartment or house, meaning its actual value, according to experts accredited to the Turkish state.

• Earthquake insurance policy.

• A recent personal photo of the buyer and seller with dimensions of 6 x 4

• Two witnesses to the signing of the contract

• Bring a sworn translator in case the foreign investor does not understand the Turkish language

• Bring the original and translated copy, certified by a Turkish notary in the event of a power of attorney from one of the parties that are included in the contract.