Posted on: 07-03-2019

They invest most in Istanbul

Foreign investors, who are the recipients of branded housing projects in Istanbul, prefer Antalya, Bursa, Yalova, Ankara and Aydin, mainly in Istanbul.

The emergence of the Law of reciprocity in the upsurge of foreign real estate investment in Turkey, Turkish contractors to produce housing that addresses the preference of foreigners, such developments are made in the overseas promotion is effective.

Iraq among the most bought real estate in Turkey, Kuwait, Saudi Arabia, Afghanistan and the Russian Federation are taking place in the first row. 

Foreigners can purchase up to 30 hectares of immovable property

property owner must get a residence permit in Turkey is not being sought to be foreign nationals can purchase a maximum of 30 hectares of real estate and limited real rights in Turkey can learn. Foreigners who can acquire up to 10 percent of the immovable property of the district where the real estate is owned cannot get real estate in security zones, especially in the military prohibited areas and cannot rent unless they get permission. 

It is mandatory to receive approval from the project for two years; title deed takes two months

When the foreigners buy an immovable that does not have any construction on the land, such as a field, the project has to be submitted to the relevant ministry within two years. In accordance with the legislation in force, the transfer of the immovable property is possible with the official bill and registration to be signed at the land registry offices, while the foreigner who buys real estate expects a process period covering the average period between one and two months. 

No difference in fees and taxes

Real estate owner or his authorized representative, the General Directorate of Land Registry and Cadastre beginning with the deed procedures have to be paid in the deed of the mandatory taxes and taxes to foreigners T.C. There is no difference between citizens. 2% of the price of the immovable property is charged in the purchase-sale process. Also, the revolving fund fee is not collected.

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