Question 1

Can a foreigner buy property in Turkey?

Accepted Answer

If you are not a citizen of Syria, North Korea, South Cyprus, Armenia, or Cuba; this means that you are legally eligible to purchase properties in Turkey.

Question 2

What documents do i need to buy property in Turkey?

Accepted Answer

if you want to invest in real estate in Turkey, you will need the following documents, A translated copy of the investor's passport which is approved by a local notary, 3 biometric pictures of the buyer, A Tax number which is easily obtained at the nearest tax office and a Turkish Bank account.

Question 3

How much are the taxes when buying a property?

Accepted Answer

The one time taxes are the following: 
Property purchase tax is 4% generally, sometimes to boost sales Turkey lowers this tax to 2/3%. it's important to discuss who pays this tax, Generally it's 50/50 or the buyer that pays 100% of this tax.

Value added tax (sometimes included in the price of the apartment) 1% for apartments under 150 Sqmt and 18% for apartments above that.

Fees for installing electricity, water and gas vary.

Question 4

Do I need a property insurance in Turkey?

Accepted Answer

Yes, when you officially become an owner of property in Turkey you will need to get an earthquake insurance, This is locally known as ''DASK''. You can't sell or buy a home if it does not have an active DASK insurance. The cost of this insurance is very low.

Question 5

Can I purchase my property in Euro or Dollar?

Accepted Answer

as of 24 January 2022 it's required to purchase the property in Turkey with Turkish Lira. this is to support the Turkish Lira.

Question 6

Can a foreigner apply for a mortgage in Turkey?

Accepted Answer

Yes, foreigners are eligible to get a mortgage in Turkey, intrest rates and conditions vary from bank to bank. so it's best to visit a few banks and get their offers.

FAQ

Frequently asked questions