In general, in accordance with the Article 35 of Land Registry Law, foreigners are allowed to purchase real estate in Turkey without a need of citizenship or residency permit.
However, there are few requirements and limitations which are stated in aforementioned law. These limitations are;
- Total area in Turkey that the foreigner may purchase cannot exceed 30 hectares.
- Foreigners cannot purchase real estates that are within military security zones and forbidden areas without a permission.
- The total area that will be purchased cannot exceed 10% of the relevant district’s total area.
Also, for foreign legal entities and companies there are other additional limitations and procedures.
General Legal Procedure to Purchase the Property
In Turkey, the transfer of real estate will only be valid with the official transaction conducted at the relevant land registry office and acquisition of the official tittle deed from the land registry.
If there is a promise to sell agreement between the parties, this agreement must be signed before the notary public and after that official transfer must also be made before the land registry office. Promise to sell agreements are not valid under Turkish law unless they are signed before notary public.
Before any transaction made, relevant information about the real estate, such as who owns the real estate and whether there are any restrictions on it, can be obtained from the relevant land registry office.
If the purchase of the property will be carried out through the intermediaries such as real estate agents, legal commission that is determined in the law is 4% of the sale price. This amount to be paid to the real estate agent can be divided between the parties as 2%, or it can be agreed in the contract that the entire 4% will be paid by one party.
To carry out the transfer transactions at the relevant land registry office, an appointment must be made, and the necessary documents must be obtained in advance. The transaction will be concluded with the signature by going to the land registry office in person or by the person to whom the power of attorney is given and after that tittle deed will be obtained.
In disputes arising from real estate transactions in Turkey, Turkish law will be applicable and Turkish courts will have the jurisdiction.
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