How to buy and register real estate in Turkey?

Foreign citizens in Turkey have the legal right to buy or rent apartments , on an equal basis with Turkish citizens, and ownership will be full and inalienable. In practice, this means that once the transaction has been formalized in the manner prescribed by law at the cadastral agency, it cannot be canceled or annulled in any other way; no third party except the buyer himself will be able to claim ownership.

How long will it take to complete the transaction?

As a rule, it will take 10-12 business days to complete the purchase of real estate. The deadlines have recently increased significantly due to the mandatory cadastral examination of purchased real estate.

What costs will the transaction entail?

In addition to paying the agreed price of the property, the transaction entails the following expenses:

1. A tax of 4% of the declared cadastral value of the property.
2. Cadastral examination. This stage is mandatory for concluding a deal.
3. Services of a sworn translator.
4. Cadastral fee.

To conclude the transaction, you only need the buyer’s international passport.

Features of further sale

If real estate is purchased for further resale, then it will be profitable to do this no earlier than 5 years after purchase. The fact is that local legislation provides for the possibility of selling housing without paying income tax after 5 years of ownership. Before the expiration of the specified period, the income tax will be 18% of the difference between the purchase and sale prices, which is quite significant.

Registration in shares

You can register a Tapa in shares, and immediately include several people as co-owners, but they will also need to be personally present at the transaction, both during the purchase and the subsequent sale, or issue a power of attorney for one person at the Turkish Embassy.

Mandatory expenses after purchasing real estate

When purchasing housing in Turkey, the new owner undertakes to annually pay a tax in the amount of 0.2% of the declared cadastral value of the property and aidat, the latter is paid monthly.

Who pays for our agency services?

In accordance with the terms of our work, the cost of our services is paid by the seller. For the real estate buyer, our services remain 100% free.

Possibility of remote real estate purchase

A relatively new way of purchasing real estate, which is deservedly popular in Turkey. Our agency acts as a guarantor of transaction security. We not only guarantee the honesty of the parties, but also help the buyer choose housing that will fully comply with his budget and wishes. Having selected 10-15 options that correspond to the expressed wishes, we show photos and videos from these properties, and also organize a demonstration in real time.

The legal basis for such a transaction is a tripartite electronic agreement concluded between MaxHome Invest, the seller and the buyer of real estate.

Does owning your own property give you the right to obtain Turkish citizenship?

The presence of one or more real estate properties with a total value of $250,000 gives a foreigner the right to obtain Turkish citizenship. It does not matter whether it is one object or several purchased at different times, only the final total cost plays a fundamental role. If the described conditions are met, then you can apply for citizenship immediately after registration of the TAPU.

Can buying a home in Turkey be a profitable investment?

With a reasonable approach to such an acquisition, real estate in Turkey not only can, but is practically doomed to bring profit to the owner. Whether it will be for rent or resale after some time is up to you. In any case, the housing market in this state is experiencing an unprecedented, protracted rise and real estate continues to rise in price, and it is quite easy to take advantage of this with a tangible profit for yourself at this point in time.

How to make a profitable and safe transaction without knowing the specifics of the Turkish real estate market

To avoid becoming a victim of scammers, save time and money, and buy apartments in Turkey simply, quickly and profitably, contact MaxHome Invest for help. Our services are completely free for the buyer; no commissions or other payments are required. All that is required from the buyer in the context of this cooperation is to voice his own wishes regarding the desired housing and follow the terms of cooperation reflected in the tripartite agreement between the buyer, seller and our company. Still have questions? Contact us and get a detailed consultation right now.