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The Turkish Property Law
A new edition of the Turkish Property Law was established on August 1, 2012. According to this new edition, the reciprocity principle that allowed foreigners to buy property in Turkey only if Turks could buy property in their countries was canceled. Citizens from 183 countries can buy real estate items in Turkey.
Now foreigners-individuals are allowed to buy undeveloped land plots even for farming. The limit of the land areas are also increased up to 30 hectares. However, not all restrictions were lifted. The foreigners still can not buy more than 10 percent of the land within one province.
The procedure of getting a TAPU was reduced to one working week. It is to be reminded that the property owner is a person whose name is mentioned in TAPU. Besides TAPU, while purchasing a real estate in Turkey, a transaction should be concluded. A buyer also needs to get a tax number and a Turkish bank account as well as to pay the taxes and fees.
Feel free to ask any questions on the Turkish property law. Contact our specialists and they will tell you all details.