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Buying a Property in Türkiye for Foreigners 2023

08/02/2024 Investment in Turkey 546 Buying a Property in Türkiye for Foreigners 2023

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As we enter the year 2023, the conditions and steps for purchasing a property in Turkey for foreigners have become different from what they were in previous years, especially in light of the transition of about 80% of the purchasing process to be completely online, and only the buyer and seller come when signing the ownership transfer.  

Of course, this is in the advanced stages of the process of buying a property in Turkey for foreigners, but in the beginning you must know how and how to start this journey, because it must have completely clear stages, and it must fulfill the conditions for achieving an integrated process culminating in obtaining a property in Turkey in the required manner . Safe and professional. 

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Carefully examine every word and idea within this article that we have prepared for you today, because it will save you from a lot of searching for answers to the questions and inquiries that are on your mind, as we will talk about the journey of buying a property in Turkey for foreigners in 2023 from the first stop upon your arrival to Turkey until you obtain a bond. Property “Tabu”

Damas Turk Real Estate In this article today, and based on the title, we will talk about buying a property in Turkey for foreigners. A summary of the previous years in helping dear customers to buy their properties, we will present it to you, and detail it from A to Z, and we will talk about the steps of purchase and what must be done at each station. To avoid falling into any fraud, loss, or the like, let's dive together..

What are the steps for buying a property in Turkey for foreigners in 2023? 

It is necessary to know the steps for buying a property in Turkey , because, as we mentioned, it is a journey in which we must know all its stations in order to reach the desired goal, and the steps that we will mention to you are the latest and most prominent things that must be paid attention to as we enter the year 2023. Let us begin first by knowing the desired goal. To buy the property. 

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First: Determine the desired purpose of purchasing a property in Türkiye 

  • Every visitor to Turkey has a specific goal to buy a property there, and if there is no goal or goal then this goal must certainly be created, and therefore we seek to define this term because most of those who come to Turkey are ignorant of this and continue in the cycle of searching for a property in Turkey and in the end They don't get exactly what they want. 
  • Determining the desired goal of buying a property in Turkey must be clear and clear. If it is not, we will get lost in searching for apartments for sale in Turkey . The goal varies from one region to another, and the goal is also variable from one city to another, so you must know the goals that are compatible with buying . Real estate in Turkey .
  • In Turkey, there are completely main goals, which are investment and housing. These two goals are the most requested by Arab communities when they come to buy a property in Turkey . Therefore, we must determine whether we will buy a property for investment or for housing and stability. The reason is that each city differs in content and style. Moin is different from other city in Turkey. 

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  • If, for example, the goal is real estate investment in Istanbul , it is necessary to search for investment sites, which vary, for example, in Basin Express, the Sariyer and Beyoglu areas, and others. However, if we talk about housing and stability in Istanbul, these areas cannot match the goal. You must search for other areas, such as apartments for sale in Basaksehir , and apartments for sale in Beylikduzu , for example! 
  • Matching the goal and its compatibility with the location helps ensure security in its future and investment returns, as well as ease of housing, stability, and obtaining daily needs. The goal of recreation, for example, leads us to search for villas for sale in Istanbul, and so on, and this sensitive step brings us completely to the second step , which It helps in achieving this step safely and soundly. 

Second: Search for the best company to help you in the journey of buying property in Türkiye for foreigners

Or as we call him in Turkey, the real estate consultant. The expert and trustworthy real estate consultant is the one who takes your hand in knowing all the issues and details related to the property you want to buy, or the area in which you want to own property, or in evaluating the price required for the apartment that you liked, and most importantly, he is the mediator who It ensures that the ownership transfer process is completely secure and complete. 

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The important job of the expert real estate consultant in Turkey is to sit with you and introduce you to the area and city in which you want to own property, inch by inch, with all its details and story. He must also offer you the best in order to match the goal for which you want to buy with the budget allocated for purchasing the property, then. The real estate consultant's job is to provide advice from the midst of the Turkish real estate market. 

From there we come to the essence of this step, which is the correct search for the best real estate company in Turkey. Certainly most of them have the experience, information and full details of Turkey, but there are companies that are always superior, and are distinguished in terms of their services, or what they offer after or even before sales operations. Here, it is the job of any property seeker in Turkey to inquire about several matters when meeting with a real estate company.

  • First: The history of this company and how much experience it has in the Turkish real estate market. It is always preferable to stay away from modern companies that may not have the experience that large companies have in the market, or who rely on people and not companies as well. The company is the legal cover that protects you from any A problem you may encounter.
  • Second: It is necessary to know the company’s headquarters, location, and position among other companies, and this can now be known by searching even on Internet search engines.

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  • Third: Can the company achieve competitive prices? Is she able to handle all legal matters on our behalf? Can we rely on it to negotiate when choosing an apartment? Is it possible to help later in furnishing and managing the apartment if we want to invest in real estate? Questions that should be asked when interviewing a real estate company in Turkey. We have the answers ready at Damas Turk Real Estate . Contact us immediately to discover that we are one of the best real estate companies in the largest cities in Turkey? 

Third: Getting to know the city and the region during real estate tours 

  • It is never possible to choose an apartment or property without visiting it and inspecting it on the ground, but not only the property, but also the city, region and neighborhood in which the apartment is located. Do not rely only on one visit to the property or project, but rather try to find out the place where the apartment is located, and get to know it. For all its services, facilities, etc. 
  • What helps define all this? It is the real estate company that you have chosen that is concerned with conducting real estate tours of the project that you wish to own, and the expert real estate consultant is the one who introduces you to the region and the city, its history, details, and vital and service facilities before you even see the property that is nominated for inspection, and this is from the experience of the consultant who must explain to you everything That, and it must provide you with all the answers you ask in all its details. 

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  • For example, one of the areas in the city of Istanbul is concerned with family content, which is Beylikdüzü . The consultant must be knowledgeable of all its neighborhoods and knowledgeable of all its facilities, such as hospitals, universities, rapid transportation, etc., because, as we mentioned, it is a family area, meaning that all the services you need must be known to you during the work. With the real estate tour.
  • If during your real estate tour you find all this information available to the real estate advisor, then he is the best, but if he is contrary to that, or is not aware of all this information, then unfortunately he is an inexperienced advisor! Hence the importance of choosing the best real estate consultant in Turkey. Let us help you and take your hand with professional real estate tours.
  • Another important point that must be taken into consideration is that try to communicate with the sales representatives of the projects that you are visiting, and find out more information about the area, the property, and the entire site. This is only an addition to what the real estate consultant tells you in general. The sales representative in turn does this, but try as much as possible. You can ask all the questions that are on your mind and find out their answers through that.

Fourth: Knowing the mechanism of ownership transfer and the things that should be paid attention to while buying a property in Turkey 

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  • Knowing the mechanism of ownership transfer and the things that should be paid attention to while buying a property in Turkey is a very sensitive stage, which you must memorize by heart before purchasing, whether through searching on online platforms, or through acquaintances and friends you have in Istanbul. The important thing is to discover the mechanism, otherwise you may encounter incomprehensible and unclear processes.
  • The mechanism has become clear in the Turkish real estate market, and it is no secret to anyone when purchasing an apartment for sale in Turkey that the matter is easy and not as complicated as some companies that seek to exploit the ignorance of some customers. Do not worry, we will mention it to you briefly so that it becomes clear to you as well. 
  • On the other hand, it is a facilitation for those who could not benefit from this sector. For example, the package to establish more than 5 million apartments in Turkey, its goal was to help middle-income people achieve the purchase of their first property in Turkey, and in the package that was launched recently about... Loans, the highest of which reached 5 million Turkish liras, for every citizen wishing to buy a property in Turkey , in deferred installments for 15 years! These packages greatly affect the real estate sector in Türkiye. 
  • The mechanism of the ownership transfer process begins through the General Registry Directorate, and for foreigners, the first stage must be to obtain a real estate evaluation in Turkey , which takes more than 3 days to obtain, and then the necessary papers are prepared by the client, which is the original passport. With translation into Turkish, with a tax number, and with a money exchange paper that has become mandatory when buying a property in Turkey for foreigners.

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  • Which means exchanging money in hard currency into the Turkish currency through the Central Bank, and it is through the bank that contains your private money, and is the one who presents it to you. After obtaining it, we make a request to transfer ownership through the electronic portal through the property owner, who adds all these documents. For him and for you as well, online. 
  • After that, a message is sent by the Land Registry Directorate to the property owner stating that a specific date has been set to come in order to transfer ownership to the buyer, and it also includes a verification number in order to pay the title deed transfer expenses. When you come to the Land Registry Directorate, there will be a sworn translator who explains all the information to you. For the property whose ownership is transferred to you, and upon signing, you will have obtained the property officially and guaranteed, and the title deed document will be presented to you. 

Fifth: Obtaining reasonable prices that match what is in the real estate market  

  • Studying the price of the apartment and obtaining competitive prices is also something that many people who aspire to buy a property in Turkey may overlook. The real estate consultant, in light of his presence in the Turkish market, knows how to negotiate with real estate owners, and understands the mentality with which he must discuss with them, and who Through this, he can obtain good and competitive prices. 

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  • In general, this is not your job, but rather the job of the real estate consultant, as we summarized this for you in the previous paragraph. He is the one who knows the average real estate prices in Turkey , and knows how much the real value of the apartment you want to buy is. The matter is certainly not easy, and therefore it must be taken into consideration. The real estate consultant may seize some prices in the market and display them to you as well, so he must be the only reference for obtaining prices that are reasonable and compatible with the Turkish real estate market. 
  • In addition, the real estate consultant has a great background in real estate prices, such as real estate in Istanbul  or in any of the regions of Turkey , the average and normal prices, and this is something that a person who relies on his personal experience may fall into, as many of the prices that we find in the market are a bubble that does not The real prices absolutely do not reflect the market price, so the real estate consultant is definitely a way to get a discount and competitive prices. 
  • At the beginning of 2023, real estate prices have appeared that are completely contrary to logic, and we see real estate owners raising prices without returning to any reference, or relying on any data, and the reasons are many as we know, the most prominent of which is the high exchange rate of the dollar against the Turkish lira, and the great inflation taking place in the world as well. Finally, the huge increase in demand from foreigners and Turks in light of the large incentives provided by the Turkish government. 

Sixth: Obtaining the title deed and completing all points related to the trip after purchasing a property in Turkey

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This is the last stop in the journey of buying a property in Turkey for foreigners, which culminates in obtaining the title deed, which comes after completing all the previous steps that we have mentioned to you, the most important of which is what we mentioned about knowing the mechanism of ownership transfer and the things that you should pay attention to.

We have summarized it for you in a number of matters, namely preparing the papers and submitting the application through the property owner, and waiting for a text message that includes setting the date to sign the waiver in the Land Registry Department. After receiving the title deed, there are procedures that must be worked on and completed so as not to remain a distraction for the property owner. the new.

  • First: Registering the property in the relevant municipality in which the property was purchased. The property must be registered in the municipality in order to clarify the name of the new owner, and in order for us to know what the value of the annual taxes related to the property is, and in the event of delay, there will be specific fines later, so care must be taken to register The property is in the municipality.
  • Second: These are the subscriptions related to the daily needs of the property, which are water, gas, electricity and internet subscriptions, which must be transferred directly to the name of the new property owner. They are made through specialized companies for each sector. Water and gas are two companies affiliated with the state, electricity is private companies, and the internet as well. Therefore, let us help you achieve this through specialists from Damas Turk Real Estate Company. 

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Let us now learn about the advantages of buying a property in Turkey ?

First: Obtaining Turkish citizenship by purchasing a property worth $400,000

After the Turkish presidency issued the law on obtaining Turkish citizenship through the purchase of real estate, and foreign delegations began to flock to it and seize the opportunity, especially since it was previously worth $250,000, as the owner of the property is naturalized along with his wife and children, all of whom are under the age of eighteen, this law is true. It was a hope for many Arab nationalities who aspire to obtain another nationality by investing their money. 

There are many very sensitive matters in this process that must be paid attention to before completing the purchase process in order to acquire Turkish citizenship and obtain a Turkish passport through real estate investment. You must have an experienced advisor involved in the Turkish real estate market on this journey, so what is it? What conditions must be met in order for this process to proceed properly?

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  • The value of the property or properties must be no less than US$400,000.
  • Properties must be seized for a period of three years and a pledge must be made not to sell under any circumstances.
  • Purchase must be made exclusively from a Turkish entity, whether it is a legal person or a company, and any property owned by a foreign national is not accepted.
  • It is not possible to naturalize more than one person on one property, even if the value is higher than required. 
  • Only husband and wife with children under 18 years old also obtain Turkish citizenship .

This is one of the most important advantages of buying a property in Turkey for foreigners in 2023, which is obtaining citizenship and a Turkish passport, which is also rich in many advantages, the most prominent of which are: 

  • First, the Turkish passport ranks 39th among the passports of countries in the world.
  • Secondly, the holder of a Turkish passport can enter 113 countries around the world, 63 countries without a visa and 45 countries with a visa upon arrival.

The passport holder also has the right to enjoy all the rights that a Turkish citizen possesses, which are:

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  • Enjoying the right to vote and run for office in the Turkish elections.
  • Obtaining the right to free education in Turkish schools.
  • The right to retain the citizenship enjoyed by the holder of a Turkish passport .

Second: Acquiring a real estate residence permit in exchange for purchasing a property in Türkiye 

At the beginning of 2022, according to the latest laws issued regarding granting real estate residency to foreigners, the minimum value for obtaining it was set, which is at least $75,000, and everyone who has the property in their name can benefit from it. This residency can be a gateway to nominating an owner. Real estate to obtain Turkish citizenship, but real estate residency has several important conditions, which are: 

  • A property must be purchased in Turkey for the purpose of housing, and no other type of property other than that is accepted.
  • The value of the property cannot be less than $75,000 in large cities, and $50,000 in small cities.
  • The full value must be in one property and may not be for several properties in Turkey .
  • It is necessary to submit a real estate evaluation document with the real property value that matches the value required for residence.

This real estate residency is one of the most important residencies granted by the Immigration Department in Turkey to foreigners, and many benefit from it when they obtain it, such as leaving and entering Turkey without issuing a visa again. It also facilitates several things in Turkey such as bank accounts, subscriptions, and other matters.

Here we have completed our mission in introducing the most important steps to buying a property in Turkey for foreigners in 2023. We mentioned most of them to you in the article, and we touched on the advantages of buying a property in Turkey as well. Damas Turk Real Estate’s only concern is to provide full support to help you in the journey of buying a property in Turkey. Leave the matter to us and we will certainly live up to your expectations and be better. Contact us and do not hesitate at all.

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