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Real estate investment in Türkiye is one of the most prominent goals pursued by foreigners who wish to own Turkish real estate, as investment in this vital sector provides lucrative financial benefits and profits
Inquiries related to real estate investment in Türkiye
On the website and platforms of the Golden Investment Group in Türkiye, we receive many questions and inquiries about the reality of real estate investment in Türkiye and its prospects. We will discuss the most prominent of them in this article
1Why real estate investment in Türkiye
- There are several factors that push foreigners to invest in real estate in Türkiye, the most important of which are
- Turkish real estate prices are low compared to their counterparts in global markets, especially the European market
- High financial returns resulting from owning a property in Türkiye and reselling or renting it in the long term
- Lower costs of living in Türkiye compared to life in Europe
- The moderate weather in Türkiye and the diversity of the four seasons throughout the year
- .Government facilities granted to citizens of 183 nationalities regarding purchasing real estate
- Granting Turkish citizenship when purchasing a property worth $400,000 on condition of not selling it for 3 years
2-What are the best cities for real estate investment in Türkiye
The cities of Istanbul, Antalya, Bodrum, Bursa, Ankara, Izmir, and Trabzon top the list of the best cities for real estate ownership and investment
3-What are the necessary steps for real estate investment in Türkiye
- Connect with a reliable real estate consultant in Türkiye
- Request information about the reality of real estate investment in Türkiye in terms of real estate prices, laws, conditions, taxes, etc
- Receive real estate offers that suit the proposed budget and the desired type of real estate investment
- Conduct a real estate tour and view the property you want to buy up close and learn about its pros and cons
- Read and understand the real estate purchase contract and inquire about all its clauses before signing it
- Selling foreign currency to the Turkish Central Bank and exchanging it with local currency
- Transferring the value of the property in Turkish Lira to the seller’s account via bank transfers
- Obtaining the complete real estate title deed document
- Authorizing a company specialized in real estate property management, noting that this service is provided by the Golden Investment Group in Türkiye
- The company searches for a suitable tenant for the property and undertakes the task of concluding contracts, collecting proceeds and transferring them to the client’s account
4-Is a foreigner entitled to obtain a real estate loan to buy a property in Türkiye
Yes, this is possible, but conditions vary from one bank to another in Türkiye, noting that this service is available in Turkish and private banks
5-What are real estate taxes in Türkiye?
- Property transfer tax (fees): 4% of the property value
- Value added tax: 1% on properties whose area does not exceed 150 square metres. As for properties exceeding this number, each additional meter is subject to a tax rate of 18%
- Stamp tax: It is paid at the Land Registry Directorate and is a small fee
- Real estate profits tax: required on properties that are sold within a period of less than 5 years
- Luxury Real Estate Tax: Imposed on properties worth more than 5 million Turkish Liras
- Municipal tax: 0.01% paid annually
- Revenue tax: It is paid for the services provided by the real estate complex’s management and varies according to the area of the apartment and the quantity and quality of social services
6-What are the papers required to transfer property ownership in Türkiye
- A valid passport
- Residency in Türkiye (if applicable)
- The real estate purchase contract in Türkiye is certified by the Turkish Notary Department
- Real estate evaluation report: Note that it is valid for 3 months from the date of its issuance
- Receipt of sale of foreign currency to the Central Bank of Turkey
- A receipt for transferring the value of the property in Turkish Lira from the customer’s account to the seller’s account
- Tax number: It is obtained free of charge from the nearest tax department
