Procurement Process
According to Turkish law, "On the Acquisition of Real Estate by Foreigners in Turkey," foreign citizens can purchase any property in Turkey just like Turkish citizens. Below, you can find the steps you need to take in the property purchase process in Turkey. We will assist you at every stage and provide guidance throughout.
Requirements List and Decision-Making Process
The first step in purchasing is defining your requirements, such as the purpose (investment or vacation home), number of bedrooms, size, location, your maximum budget, etc. Once you have clarified your main requirements, it will be much easier to make a decision. Istanbul offers the most investment opportunities in real estate across Turkey. Therefore, there are many investment possibilities in Istanbul that you can consider for your personal investments.
Deposit Payment and Documentation Process
Population 77.7 million people (2014, TurkStat)
The largest youth population compared to the EU (Eurostat)
Half of the population is under 30 years old (2014, TurkStat)
Young, dynamic, educated, and multicultural population
Skilled and Competitive Workforce
Once you have chosen the property you will purchase, you will need to pay a fully refundable deposit to guarantee the purchase and lock in the price. You can pay the deposit in cash or by credit card. The deposit is symbolic and fully refundable within a certain period (1 or 2 weeks).
After you have paid the deposit, we will prepare a contract for signing by the investor and the developer. The contract will be drafted in Turkish and English, including the payment plan and floor plan of the property. (Completed projects typically require cash payment, while off-plan projects usually involve a long-term payment plan with several installments).
Next, to finalize the contract, you will need your passport, full home address, and contact details. If you wish to open a bank account in Turkey, the documents you need to provide include:
* Original passport
* Notarized translation of the passport
* Notarized translation of national identity card
* Any utility bill showing your initial home address from your country
* Turkish tax number
During this process, our professional consultants can and will be happy to assist you again.
Payment Process
During this process, our professional consultants can and will be happy to assist you again.
Delivery and Property Title Deed Registration Process
If you have chosen an off-plan project, you will need to wait for its completion to obtain the property title deed. Until then, your purchase contract will guarantee your rights during the purchase.
The process of obtaining the property title deed usually takes 2-3 months after the project is completed. Initially, your application will be sent to the title deed office. Then, it will be sent to the Turkish General Directorate of Military to verify if the property is in a military or restricted access zone.
This is a formal and standard procedure. Once your purchase is approved, you will need to visit the Title Deed Office with a sworn translator. Alternatively, you can authorize a lawyer to complete the process on your behalf. This will save you time and effort and ensure a smooth purchase process without any issues.
