How Can Foreing Nationals Byt Real Estate in TURKEY ?

With the amendment made in the Land Law No. 2644, natural persons natural people who are citizens of foreign countries can now purchase immovable property in Turkey without seeking reciprocity. without the requirement of reciprocity

Foreign citizens who want to buy immovable property must make official contracts at the Land Registry Offices where the immovable is located. Foreign citizens can apply to the land registry offices to make purchases, or they can be carried out by attorney .

With the regulation that came into effect as of January 24, 2022, foreign citizens are obliged to exchange foreign currency with the Central Bank in the amount of the entire sale price when purchasing real estate in Turkey. This must be done by exchanging foreign currency to a bank operating in Turkey and to the Central Bank by the relevant bank. It is not possible to use the foreign currency exchanged in the foreign exchange offices in real estate purchase transactions. It is not mandatory for the foreign exchange sale to be sold by the buyer foreigner, but it can also be sold by the proxy. The foreign currency must be exchanged before the title deed transactions and the foreign currency purchase document must be submitted to the title deed directorate before the sale.

Foreigners who want to become citizens of the Republic of Turkey can qualify for citizenship by purchasing real estate worth at least $250,000 or more in 2022, although the lower limit varies according to years. At this value and the purchase process alone is not enough for citizenship. Foreign citizens will be able to apply for citizenship at the same time while purchasing real estate, or they will be able to request citizenship after the sale process. If the foreigner who buys the immovable does not want, the foreigner doesn’t have to apply for citizenship.