Who can buy ?
Most foreign nationals can purchase property in Turkey providing:
1. There is a reciprocal agreement between the government of Turkey and that of the purchaser; such an agreement of full reciprocity regarding real estate acquisition does exist between Turkey and the U.K.
It is a must that the right granted by that foreign country to its own nationals in respect of immovable property acquisition are also granted to Turkish nationals.
2. According to the new real estate law foreigners can own up to two and a half hectares (25,000 m2) of land and property. Upon application the Council of Ministers may use its discretion to increase this threshold to a maximum of 30 hectares ( 300,000 m2 ) providing this figure does not exceed a total of 0.5% of the land area of the province in question.
3. The intended property lies within the boundaries of a municipal area, i.e. town or village with more than 2,000 registered inhabitants.
4. The intended property does not lie within the confines of a military zone.
These simple regulations are important. Foreigners who have attempted to outsmart the system by purchasing homes in prohibited zones in the name of a Turkish acquaintance under the protection of a private notarized agreement, have no chance of recovering their property in the event of a dispute.
THE FOLLOWING COUNTRIES HAVE RECIPROCAL AND RATIFIED AGREEMENTS WITH THE GOVERNMENT OF TURKEY FOR REAL ESTATE PURCHASES:
CENTRAL AFRICAN REPUBLIC
NORTHERN CYPRUS REPUBLIC
UNITED STATES OF AMERICA
Further resources are available upon request to info[at]marmarisinfo.com including the new Real Estate Law.
Amendment to the Law on Title Deeds Law No. 5444 Date of Adoption : 29.12.2005
For other real estate inquiries and questions please contact real estate consultants listed below