Is property ownership free in Turkey?
Yes. Only the owner has all the rights and no one else has any hold on the property.
What are the benefits of buying property through real estate agents?
- Real estate agents can show you a wide range of properties.
- Real estate agents are experienced in the field and have a better network of supporters.
Is the real estate price the same for Turkish citizens and foreigners?
Yes. Regardless of your nationality, the price of properties remains the same. So, whether you are a Turk or a foreign investor/buyer, the cost of properties is the same for both.
On what basis is the property price determined in Turkey?
In the case of a new development project, the price will be determined by the developer. Also, whether you buy the property through a real estate agent or directly from a developer or a third party, you must pay the same price.
How many properties can a foreigner buy in Turkey?
The number is not specific and it can vary for some countries. Also, it will depend on how many people are going to own the same property.
Is the real estate tax the same for Turks and foreigners?
Yes, the real estate taxes are the same for Turks and foreigners.
What are the benefits of buying property in Turkey over other real estates in different countries?
You can have several benefits by buying property in Turkey.
- Firstly, most of the properties in Turkey are built by top-class engineers and specialists using the best building materials.
- The Turkish government has issued laws in support of real estate investment. One such law is the naturalization law which permits citizenship to everyone who invests in Turkey.
- The Turkish government has reduced real estate taxes. The taxes are the same for Turkish investors as well as foreign investors.
- Turkey is politically stable and secure compared to many other countries making it a great place for investment.
Should I buy an under-construction or ready-to-live property in Turkey?
Both have their pros and cons. In the case of ready apartments, the payment is upfront without any installments while you can pay in installments for properties under construction. The choice is entirely yours.
What is the minimum amount to buy real estate in Turkey?
The price varies from one city to another. As such there is no minimum amount you need to invest in real estate in Turkey.
Can a foreigner obtain Turkish citizenship?
Yes. A foreigner can obtain Turkish citizenship by buying property in Turkey provided the purchase of property is made after 2017.