Buying property in Turkey has become better and easier for foreigners since important changes were made to property laws in the country. The main changes in this field were implemented in 2012.
Türkiye is one of the popular countries to invest in real estate. By buying a property of a certain value in Turkey, you can get investment residency. This residency allows you to work as an investor in this country and take advantage of business opportunities.
Investing in Turkey by buying property can be an attractive opportunity, but it should be planned carefully and with the advice of experts. The decision to invest in Turkey should be based on the following:
- Laws and regulations in Türkiye: Before investing, you should read the rules and regulations related to Read carefully about investing in Türkiye. Changes in laws and regulations can have a big impact on your investment.
- Investment type: Turkey offers many types of investments, including buying property,Investing in the stock market, creating a business and…
- Investment areas: Türkiye has different regions that are arranged as investment zones. Check which area is more suitable for your investment.
- Risks: Like any other investment, investing in Türkiye has risks. These risks include changes in exchange rates, political and economic issues, the state of the real estate market, etc.
- Legal and financial advice:It is recommended to consult with a lawyer or legal advisor skilled in real estate affairs Consult investment in Türkiye. They can guide you in all legal and financial aspects of investing.
- Research and planning: Before any investment, it is very important to do careful research and planning. You must carefully evaluate the pros and cons of each project and investment.
Finally, Turkey can be an attractive investment destination, but success in this field requires careful research, knowledge of the relevant laws, and cooperation with the necessary professionals.
The latest law for buying property in Türkiye to obtain residence
According to this law, the minimum purchase price of a property for foreigners who want to obtain Turkish residency must be more than 200,000 dollars.
The new law states that there is no need for an expert report or a property expert, and only the amount specified in the property document is important
Is.
However, people who bought their property for 75 thousand dollars before 16.10.2023 and have the property deed in their own name.
have transferred, they are not subject to this amendment law.
Expert review and analysis of this rule in the clubhouse by the 4K Group team
The questions raised by you, dear ones, regarding the new law of property purchase in Turkey:
- Is this talk of two hundred thousand dollars to buy a property in Turkey final and complete or is it just a suggestion and these talks may not be implemented?
- Is it enough to register the amount of two hundred thousand dollars in the document, and there is no need to present the expertise sheet (property evaluation) or, for example, two hundred thousand dollars in the registration office?
- Is it possible to buy two houses instead of one house, or are we only allowed to buy one house for two hundred thousand dollars?
The new regulations are such that in the past, foreigners could buy property only with the aim of obtaining residence. The amount of at least seventy-five thousand dollars was required in their purchase document, and if this amount was recorded in the document, they would be granted residency.
In the past months, we predicted that this figure would increase soon due to the government’s plans.
This was a fact because there was no suitable property amount with this figure in Istanbul. So the government was aware of this situation. On the other hand, due to tax evasion, some sellers declared the prices inappropriately and only showed the amount of seventy-five thousand tomans. The government also knew this issue.
Now, with the new regulations, a certain minimum amount has been set for the property, and in fact, there is no suitable property in the city of Istanbul for less than two hundred thousand dollars. This program may prevent tax evasion.
In my opinion, these new regulations have positive aspects. As an example, in the past, people could obtain residency for their children under 18, but the fact that the new regulations make it possible for children under 25 (with a share clause in the document) is a positive aspect.
On the other hand, in the past, property sellers would understate prices to avoid paying taxes to the government.
If the buyer after a few years decided to property sale He used to get tax in proportion to his income The proceeds from the sale of the property were counted up to 30%, from seventy-five thousand dollars. But now the tax is calculated based on the income tax, and if the property is sold, this minimum amount is calculated at two hundred thousand dollars.
The question of many of you friends is, where does the truth of this news come from? I must say that most of our colleagues have obtained this information based on the words of the operator of the 157 system. The 157 system operates under the supervision of the Immigration Department and is an official system.
The operator cannot alone determine a legal number or even declare a rule. You may call and get a little more specifics at different times, but there is nothing wrong with the general details of this number.
It appears that a circular has reached the relevant authorities, and according to that circular, anyone who calls may receive more detailed information. Our team contacted this system and published the words of the immigration department’s expert and operator on the Instagram page.
But so far, this news has not been published on the official website of the Immigration Department, and the Immigration Department may publish more details of these regulations in the future. Probably there will be some changes and nothing is certain yet.
Consider this, many people have a property that is still worth $400,000 Turkish citizenship They haven’t gone through the citizenship procedures properly in buying this property.
In other words, you must make your payments carefully and fill in the “Description” section on your payment slips correctly.
In the future, you may want to buy another property to apply for citizenship with the previous property. But if you don’t follow the rules correctly regarding the first property, you may get into trouble.
In other words, if your payment is not to a Turkish person, or the purchased property is not valued or expered, or there is a problem with your Belgian visa, it is possible that your citizenship process will be in trouble.
For citizenship, you can buy any type of property, be it residential, office, commercial, or even a shop. This does not create any issues for citizenship and there is no limit to the number of properties you want to buy. But for real estate residences other than citizenship, you cannot own more than one property.
In other words, for this type of accommodation, you are only allowed to buy one residential property. Therefore, be sure to remember that for this type of accommodation, your property must have the word konut clearly registered in its document.
