AR
DE
RU
TRTitle deed & purchasing process
Yes. Foreigners can buy real estate or property in Turkey in their own name. According to the current cadaster law, this must be within the boundaries of a municipality (all properties on the Timondro network are prechecked for this). There are a few details to consider before buying a property: such as complete clarification of the ownership structure, energetic condition of the house or apartment as well as construction quality and condition of the interior outfittings.
Yes, it does. Residence permit is usually granted for a full year and it is comfortably renewable over the internet for property owners. The Turkish Immigration Presidency issued a new amendment to the law on obtaining real estate residence in Turkey, where the price of the property must be 75 thousand US dollars, in big Turkish cities such as Istanbul, Ankara, and Antalya, and not less than 50 thousand US dollars in the rest of the Turkish cities. Residence Permit.
It refers to the complete ownership rights to the real estate, meaning one can become heir to, trade or lease whenever one wishes too. The title deed is the official document that states legally binding the property ownership.
Yes. An individual or a group of people can be registered as owners of a property in the title deed.
The quoted prices are in many cases final prices. If on top of the sales price a commission needs to be paid this is stated in the property details at the top right corner under “Commission“. Apart from this the transactions costs mainly consist of the property tax which is 4% of the sales price and is either shared equally between seller and buyer or paid by the buyer.
Yes, it is possible, usually for projects that are under construction. For many projects in the construction phase Turkey has a standard practice to offer installment options, but still not all projects offer this. Financing by a Turkish bank or a bank abroad is also possible and common. This is generally possible if the buyer‘s credit-worthiness meets the respective criteria by the bank.
Yes. It is possible, however there are the usual transactions costs to be taken into account for the alteration of ownership. As the title deed is not yet in play the costs will be lower and mainly consist of the fees for the notary when notarising the sales contract.
Upon full payment of the agreed price and transaction costs the title deed will be issued at the land registry. In case that your property is ready to be transferred but you still have some installments to pay the title deed will be registered on your name after the owner has received the last payment rate.
Purchase contracts have to include a deadline for the finishing of the project. As an industry standard a flexibility for a period of usually up to 3 months is conceded to construction companies. Should the constructor not be able to complete the project as promised there are penalties charged according to the sales contract. Turkish courts can be appealed to for enforcing the rights. It is important for buyers to check that the sales contract includes penalties for such a case.
The buyer must be present in Turkey to sign the purchase contract. If the buyer can not come a limited power of attorney can be issued by either a notary, or at one of the Turkish embassies abroad. Other steps are:
- Receiving a “vergi“ tax number, which is granted to every foreigner in Turkey to facilitate official financial transactions and is extracted within minutes from the tax department.
- Copy of the passport translated into Turkish and certified by a notary.
- Registration of the purchase contract in the Directorate of Real Estate Registration (Tapu ve Kadastro Genel Müdürlügü or land registry) and issuing the new title deed.
- The the property tax needs to be paid at the time of registration, which is a total of 4% of the value of the registered property.
- Foreign Currency Purchase Certificate.
In addition to the consultation by property specialists from the Timondro network, you can also get advice from a lawyer. The lawyer can check the sales contract and point out other important issues. The attorney can also make payments on your behalf if you are bound by time or do not want to return to Turkey at short notice. You can issue a limited power of attorney to your lawyer, a trusted private individual (family or friends) or to the property specialists that is responsible for you if you do not want to bear the additional costs for a lawyer.
You will normally pay 5,000 USD to reserve the aparment exclusively on your name and then usually 30% as a deposit within four weeks. Most developers offer staged payment plans (lump sum to be paid at the completion of each building stage) often with a degree of flexibility depending on the buyer‘s circumstances. This will be agreed with you at the time of purchase. The reservation amount (5,000 USD) will be deducted from the full payment.
When you make the full payment for the property, the procedure usually takes place the same day but - depending on how busy the TAPU Office (or land registry) is - can also take up to 7-10 days.
- Appraisal report (more information here),
- Passport translation certified by a notary,
- The limited power of attorney (if needed),
- 2 photos,
- Local tax number,
- Proof of the home address in your home country by providing a utility invoice (gas, electricity, water, cell phone or telephone bill; no older than three months) and
- A Turkish bank account.
Yes if you obtain the approval of the bank in your country to buy the property, then the payments are transferred to the owner in Turkey. However, loan obligations for external properties differ from one bank to another. Some banks do not participate in property financing abroad, while others do so. There are also banks specialized on Islamic banking.
You must bring your passport when you go to see the project. You will normally pay 5,000 USD (approx.) reservation fee, either by bank or in cash. After that the apartment will be reserved in your name and the price will be fixed for a period of two weeks until you make the initial downpayment, within two to four weeks from the date of reservation. The reservation fee will be deducted from the first payment. It serves as a guarantee for the owner that the buyer is serious.
Valid passport, Turkish tax number, 4 passport sized photos, and foreign currency purchase certificate.
Yes, depending on the terms and conditions as agreed with the seller, you will be asked to pay a “Property Purchase Tax” of 4% based on your purchase price, this fee needs to be paid on the day of delivery of your TAPU.
Yes, you can. There are major banks in Turkey that have wellimplemented systems and attractive rates for all foreigners applying for a mortgage.
- Title deed: The title deed can be obtained when buying a property and conducting full payment. It is the most important document and proof of ownership.
- Mortgaged title deed: Some ready to move projects provide title deeds while paying in installments. In this case the property is under mortgage until full payment has been made.
- Sales contract: The sales contract is the only legal document when buying projects under construction, or when buying in installments. It is possible and in most cases required by the seller to request notarising the sales contract(s) by the notary. In this case, the buyer can terminate a contract within 15 days without paying a penalty or at any time before receiving title deed with paying the penalty as defined in the respective sales contract.
Make sure to see whether there is any difference between the gross and net square meter area, and the impact of this difference on the living area you will have. You may obtain information such as the aspect, the types of the neighboring apartments and its proximity to the elevator, technical volumes and fire escape stairs by examining the floor plan.
You should try to inspect the documents which contain technical information related to the products and services used in constructing the apartment, house or villa.
No problem ! reprinting a title deed is a simple task, your original registration is protected as hard and software copy with high security at the directorate of land registry.
There is no limit for the number of people whose names can be written on the same title deed.
The inheritance law in Turkey includes foreigners, and a foreign can bequeath his property to his heirs according to the law governing it.
