Purchasing Property for Private Use

The only applicable stipulation concerning the acquisition of property in Turkey is that it takes place in writing. The handover of the property must be carried out at the Land Registry Office (Tapu) where the registrar issues the new proof of ownership. The document is referred to as the (Tapu). The ownership transfer document is only issued to the new owner on completion of all construction and all financial transactions have been completed satisfactorily.

Purchasing Land for Private Use                                                   

Foreigners may purchase land or property in Turkey lawfully in their own name, provided that properties are located in towns, villages or rural areas outside of designated military areas.  This minor restriction is currently under review at government levels and is believed will be abolished.

In order to acquire the title of a property, an application has to be submitted to the local Land Registry Office in which the property is situated. After carrying out necessary searches and checks for the abovementioned requirements, the transfer of the title is done by the Land Registry Office. During the transaction, the proofs or the documents concerning the transfer of the full purchase price into Turkey must be presented to the Land Registry Office. Also a 1.5 per cent duty (i.e. tax) both for the purchaser and seller is due and collected during the transaction.

There exists an annual property tax, collected by the municipalities (i.e. local governments) at the rate of 0.3 per cent for private buildings. The acquired property may be resold or rented out and the proceeds may be transferred out of Turkey. Different regulations apply when a property is purchased or business related purposes.

Purchasing Laws and Procedures                                           

Turkey especially in the Mediterranean coastal areas is fast becoming a popular holiday destination with Europeans.  Its immense unspoilt coastline and Mediterranean climate offers all-year-round sunshine. This makes buying property in Turkey now as a strong future investment.  Considering that Turkey is on the verge of becoming a member of the EU and has one of the fastest growing emerging markets in the world.

Here we outline general but essential information regarding the path to ownership of a property in Turkey in accordance with Turkish Law. Outlining the potential pitfalls that you may encounter during the process.

We strongly encourage you to consult an expert or visit our company at GÖCEK ESTATE MANAGEMENT.  Buying property in Turkey can be carried out relatively easily providing the processes are adhered to.  Knowledgeable and professional service is required to ensure satisfaction.  Our solicitors offer you professional legal assistance for your peace of mind and protection on all aspects of the legal process of buying property in the Turkish Republic.

Property Registration & Handover                                                                                

The entry in the property register in Turkey is performed by an official of the Property Registry Department. It is compulsory for both sides (seller and buyer) to be present at the entry. Or be represented by a lawyer with power of attorney acting on your behalf. Providing the lawyer has independently notarised with a Public Notary and holds the required document, which must be presented with the registry documentation.

There are no legal restrictions for foreigners who wish to acquire property for personal ownership.  However, the act relating to Military Prohibited and Security Areas can be an restriction and therefore hinder the purchase if applied.  In effect if the property is located within a particular distance of military sites or strategically important areas the restriction may be enforced. (Under review see previous note)

Buying real estate in Turkey involves many regulations. Not only must formal regulations be taken into account, but foreigners must also heed the various legal exceptions to acquire real estate.

The zoning schemes, the antecedents of the selling party and the legal restrictions imposed by Turkish property legislation are important aspects that must be approached objectively, and preferably by a professionally qualified person.

GÖCEK ESTATE MANAGEMENT can offer valuable experience and assistance allowing you to carry out an objective and thorough investigation regarding any property or real-estate in which you are interested. Our professional staff will be happy to assist you. Please do not hesitate to contact us either through e-mail, fax or in person at our office for any additional information or services.