Buying and registering property in Turkey
Turkey is a popular destination for buyers looking for hot deals on resort property, luxurious urban abodes and historical buildings to renovate. With prices rising year on year, it might be worth checking out our guide to buying property in Turkey.
How it works in Turkey:
1. Find a property. A local real estate agency offers properties that match your preferences as a buyer. The city, district and your budget are the main things to take into account. Once you have found one or more options that interest you, the agency will arrange viewings. Don’t hesitate to ask your real estate agent any questions about the property, payment procedures or potential discounts.
2. Sign the preliminary sales contract. This document sets out the price and payment schedule.
3. Get your tax identification number. You will need this to open a bank account and close the sale in Turkey.
4. Open up an account with a Turkish bank. Foreign citizens can also apply for a mortgage in Turkey.
5. Pay the deposit. Your down payment is approximately
6. Notarise a translation of your passport. Your passport needs to be translated into Turkish and notarised.
7. Get your purchase approved.
8. Register your property. Once your application has been processed by the state authorities in Izmir and Ankara, you will need to register with the local land registry office for your property title (tapu). Tax amounting to 4% of the cadastre value is charged upon registration.