Search List

Frequently Asked Questions - Buying Property and Investment in Turkey

If you are considering buying property in Turkey, you will likely have a number of questions to consider. We would be happy to discuss the purchase process with you either over the phone or in person, but to help you get started, we have provided answers to some of the most frequently asked questions below:

Q: Can I get a residence permit in Turkey if I buy property in Turkey?

A: Every foreigner can receive a residence permit for one year (renewed annually with the title deed) until you sell your property.

Q: Do I need to get a residence permit to buy property in Turkey?

A: No, you don't need a residence permit to buy property in Turkey!

Q: Are there any restrictions for foreigners when purchasing property in Turkey?

A: Only in rural areas and military zones. In the developments that we promote, there are no restrictions imposed.

Q: Will the property in Turkey be freehold property?

A: Yes, all properties we sell in Turkey are freehold property.

Q: Can foreign companies buy property in Turkey?

A: Yes, but it is a complicated and lengthy process that requires ministerial council approval, which rarely happens. Foreign companies should, therefore, establish a Turkish subsidiary enabling them on an equal footing with other Turkish companies and citizens to buy and sell properties. Properhome International can help you establish a Turkish company.

Q: Can my company establish an investment company in Turkey?

A: Yes. If you wish to invest in Turkish properties through a professional entity in Turkey, Properhome International can help you establish a Turkish company.

Q: Who sets the price of the property?

A: If you are purchasing a property in a new development, the price will be set by the developer. Otherwise, the owners define the prices of their properties for sale. Whether or not an agent is involved in the purchasing process, you will pay the same price for the property. Thus, it's preferable for any buyer to buy through an authorized and registered agent to ensure that the buyer's interests are taken into consideration.

Q: Can everybody sell property in Turkey?

A: NO! According to Turkish law, only certified and registered real estate agents can mediate and offer brokerage services. Properhome International is an authorized and certified real estate agency registered with the Alanya Chamber of Commerce and Industry (ALTSO).

Q: What is the real estate agent service fee?

A: Whenever a property is sold, registered and certified real estate agents are entitled to receive a 2% service fee based on the actual sales price of the property from the purchaser and the property owner separately. However, Properhome International Ltd does not require any commission or service fee from buyers unless stated otherwise.

Q: Why should I use a real estate agent?

A: Going through an established Estate Agency like Properhome International has several advantages. First of all, you will get to see a wide range of properties that match your criteria and not just one specific developer. Secondly, you will have the benefit of our international standards and experience in addition to a fully staffed office to support you both in Turkey and back home.

Q: Who can buy property in Turkey?

A: All nationalities can buy property in Turkey except for citizens of North Korea, Armenia, Nigeria, Cuba, Yemen, and Syria.

Q: Can foreigners loan money in Turkey?

A: Yes. When applying for a mortgage loan, you will need to document your income, whether in your home country or elsewhere. Properhome International will assist you in obtaining the best financial product/solution based on the current market conditions. There are some high street banks in Turkey where you can obtain a mortgage on the property you buy in Turkey. Read more about Mortgages in Turkey.

Q: On a new development, what is the average deposit required? Can I pay in installments?

A: You will normally pay approximately 2,000 - 3,000 Euros as a reservation fee and then 30% as a down payment within four weeks from signing the purchase contract. Most developers offer stage payments (a lump sum to be paid at the completion of each building phase) often with a degree of flexibility based on your personal circumstances. This will be agreed upon at the time of purchase. Payment terms are in most cases negotiable with the property seller/owner or the developer.

Q: What is the general buying process in Turkey?

A: After paying the reservation fee, Properhome International will carry out the title deed checks. A contract will be drawn up between the seller and the buyer. This will give the details of the completion date, payment schedule, terms & conditions. When this is signed by the parties, the down payment is paid. You then apply for a security clearance to allow you to own a property in Turkey – this will often be applied for you on your behalf by the developer or Properhome International. You can sign a Power of Attorney at the notary public to conclude all the necessary paperwork if your circumstances require so. When a security clearance is obtained, you (or your attorney) will sign a deed of transfer in front of an officer of the Land Registry Office who then records you as the official owner of the property.

Q: What documents are required?

A: A copy of your passport translated into Turkish, 4 passport-sized photos, and a Turkish tax number are required to purchase a property in your name. Properhome International helps you obtain a Turkish tax number from the local tax office.

Q: Are there English-speaking lawyers in Turkey?

A: Yes, there are English-speaking lawyers, and we can introduce them to you during your viewing trip.

Q: What are the costs associated with buying property in Turkey?

A: The costs related to buying property are in general around 4% of the value of the property.

Q: What should I expect to pay in maintenance charges?

A: This varies from development to development between 120 – 900 Euros per annum depending on size & facilities at the complex or community. In most cases for a 2-bedroom apartment, it is 50 Euros/month. Properhome International will inform you about this matter before purchasing.

Q: Are there any ongoing taxes?

A: State property tax and environmental cleaning tax. However, these are relatively low and mostly less than 100 Euros altogether.

Q: Can I insure my property?

A: Of course. Properhome International will help you insure your property at the most favorable rates.

Q: Can I rent out my property?

A: Yes. The main season is from April to October, but you should still be able to rent it out over the winter months at lower rates.

Q: What about furnishing my property?

A: A few developers offer furnishing packages. Besides, Properhome International assists you without any extra cost to purchase any items to furnish your property.

Q: How does the general cost of living compare with Western Europe?

A: The general price level for fast-moving consumer goods is up to 50% lower than most Western European countries. Although some luxurious goods might be more expensive than in your country.

Q: What is the government system in the country?

A: Turkey is a republic governed by parliamentary democracy and a member of NATO and in the process of accession to the EU. The country is already a member of the European Customs Union.

Q: Is there a property management service?

A: Yes, some developments are managed by professional companies, while others by developers or the owners themselves.

Q: How can I be protected against exchange rate movements?

A: Almost all listings and property deals are in Euros (€) or US Dollars ($) to prevent all parties from exchange losses equally. However, if you prefer to make a deal with another internationally traded convertible currency (GBP, CHF, DKK, SEK, NOK, etc.) to protect yourself against exchange rate fluctuations, Properhome International can assist you in securing a rate fixed on the date of signing the sales agreement.

Q: What other services does Properhome International offer?

A: Visit our Services page to see the range of pre/post-sale services offered by Properhome International.

Q: What about viewing trips?

A: Properhome International offers a viewing trip that includes a return flight ticket, transportation to and from Antalya Airport (or your desired airport), and 3 nights of hotel accommodation with half board. We design your viewing trip around your needs, budget, and at your pace. Read more about the Viewing Trip to Turkey.

If you need any more information or have additional questions, please feel free to ask.