The sale of property in Turkey and the spreading of rumors by uninformed people in virtual spaces has caused significant concern among our dear compatriots.
In this article, we will explain and fully review the laws related to the sale of property in Turkey, so that you can make a decision about the measures related to the sale of the property you want with complete peace of mind.
These days, many of our dear compatriots are worried about selling property before buying it in Turkey. These concerns are often due to mishearings and misinformation they have received.
These people believe that the property they buy can only be sold to Turkish people. However, the reality is not like this.
After buying a property for 400 thousand dollars and obtaining a passport through it, selling the property in Turkey is prohibited for 3 years. In other words, as a citizen who acquired the citizenship and passport of this country through the purchase of property in Turkey,
During this period of at least 3 years, you are not allowed to transfer and sell the property to others. For more information, it is recommended to go to the page Buying a property in Istanbul – a complete guide See.
After 3 years, you will be able to sell the property at the daily rate and definitely make a significant profit.
The noteworthy point is that citizenship is given once on the document of each property by the Turkish government. That is, if an Iranian or foreign (non-Turkish) person buys this property from you, she cannot apply for Turkish citizenship and passport.
Your frequently asked questions
You are allowed to sell after 3 years, but your passport is permanent.
Yes, you can sell to non-Turkish people, there is no difference.
You don’t have any restrictions on selling the property to any race, just because citizenship has been taken once on this property, the next person cannot get citizenship on this property.
Rules for selling property under $400,000
If you bought a property below 400,000 dollars, you can sell your property now or for investment or tourist accommodation whenever you want, but the residence will be taken from you.
It should be noted that if you decide to sell the property you buy for investment in less than 5 years, you will have to pay income tax, which is between 35% and 40% compared to the inflation and profit of the property.
Regarding the sale of the property, if the seller wants to pay less tax due to tax evasion, the amount paid should be more than the amount that is written in the tapu or document.
Your frequently asked questions
Your property residence can be extended as long as the property deed is in your name. Your residence will be canceled as soon as the property is sold.
The minimum purchase price for a property in big cities is 75,000 dollars and in small cities it is 50,000 dollars.
Yes, husband and wife and children under 18 years of age are included in the stay.
Other conditions and rules for selling property in Türkiye
- Selling the property you bought in Türkiye has no restrictions. In other words, you are allowed to sell your property to Turkish citizens or people from other countries. However, if the buyer intends to obtain residence and citizenship of this country by purchasing property in Turkey, she must necessarily purchase the desired property from a Turkish citizen.
- In the process of selling the property purchased in Turkey, receiving an expertise report is essential. Therefore, at the time of selling the property, you must have the property expertise report.
This is an expert report that is obtained by specialized organizations after the evaluation by related experts and determines the real value of the property.
- In transferring the document, your presence as the owner of the property and the document is mandatory. This universal law applies in all countries. If you cannot attend, give a power of attorney to a trusted person to take over the responsibility of transferring the document.
- 4% of the property value as tax must be paid to notary offices. Payment of taxes is the responsibility of the buyer and is carried out according to the laws of Turkey, unless the parties to the contract decide otherwise.
- It is not possible to hand over a house in Turkey or a property that does not have accident insurance, including earthquakes. In order to transfer ownership, having accident insurance, especially earthquake insurance, is one of the legal requirements of Turkey.
In other words, all houses and properties in this country must have accident insurance; Otherwise, the official transfer of ownership of this house and property will not be possible.
- At the time of deed transfer, the tax liability of the property must be zero. In Turkey, real estate tax is levied every year, and its amount depends on the value and location of the property.
As the owner of the property, you are obliged to pay the tax so that you do not face tax problems during the transfer of the deed and sale.
Solutions for selling property in Türkiye
Selling the property you bought in Turkey, like in other countries including Iran, can be done in two ways;
1- Selling property in Türkiye without intermediaries
In the direct method to sell the property purchased in Turkey, you must publish the pictures of the property along with the complete information and necessary explanations on the websites and programs for buying and selling the property in this country.
Also, it is necessary to add your contact number to the information so that buyers can contact you for the necessary arrangements.
2- Property sales in Türkiye by reputable real estate agencies
In this way, entrust your property to Turkish real estate agencies. After finding the right buyer, they will take care of the arrangement between you and the buyer.
In the indirect method, it is easier for Iranians to sell the property purchased in Turkey. Consultants active in real estate agencies have detailed information about laws, conditions, and costs, and with their experience, they can perform the steps from selling to transferring the document and receiving the amount of the property quickly and more accurately.
Forky Group experts in Iran and Turkey are ready to provide you with free consulting services in the field of buying and selling real estate
Different ways to receive property sales in Türkiye
In Turkey, for the purchase and sale of property by foreigners, an expertise report is necessary in advance; But this does not mean that the value of the property is fully determined.
In fact, the value of the property can still be a matter of agreement between the buyer and the seller, and the amount that is agreed upon may vary.
Therefore, at the time of selling the property you bought in Turkey, the first thing that needs to be agreed is how to pay the desired amount. In other words, you, as the seller of the property, must inform the buyer of the conditions related to receiving the amount and agree on this.
The usual method of receiving the amount is that at least ten percent of it is received before the transfer of the document and the rest is received at the time of the transfer of the document. (This issue is completely consensual)
Concluding remarks
Turkish lawyers in Iran or official immigration lawyers, by combining knowledge and experience in the field of commercial law and international law, help Iranian companies and investors to be more successful in their business processes and improve their legal problems.
