How To Buy A Home In Turkey As A Foreigner In 2023?
This vast country has excellent weather and a variety of lively cities and attractive beach resorts. One of the most appealing aspects has to be the inexpensive home pricing.
We’ll go over everything you need to know about buying property in Turkey as a foreigner in this tutorial.
We’ll go through everything from the cost of buying property in Bodrum to obtaining a Turkish ‘Golden Visa’ so you may retire in sun-drenched Fethiye. But first, let’s take a quick glance at the situation of the Turkish housing market.
7 Steps To Purchasing A Home In Turkey As A Foreigner
Let’s walk through the steps of purchasing a home in Turkey:
- If you aren’t currently living in Turkey, research the market and hire a local estate agent. You’ll need to schedule a few trips to view properties.
- Once you’ve found a property you want to buy, negotiate the price and terms of purchase with the seller (your estate agent can help with this).
- You’ll sign a sales contract and pay a small reservation deposit – the purchase is legally binding at this point.
- Appoint an impartial, reputable, and qualified lawyer to handle the legal aspects of the transaction. You must bring your ID/passport as well as your residence permit (if applicable).
- An impartial appraiser must perform a comprehensive valuation, which can take 3-4 days.
- Your solicitor will review the Tapu, which is the property ownership document. This must then be sent to the Tapu office for registration so that a new Tapu with your information can be provided.
- The deal is complete, and you will be the happy owner of a Turkish property.
How Do You Pick The Best Property?
1. Property kinds
Turkey’s architecture14 portrays the country’s intriguing blend of East and West. This means that you’ll be able to choose from beautiful Ottoman townhouses to modern, European-style beach homes.
Property styles differ by location, with more timber-built buildings in the north and stone-built residences in the west and south.
Apartments are the most frequent type of property in Turkish cities, and they are the most popular choice for international purchasers. But it all depends on what you want, your budget, and where you buy.
2. The property’s condition
In 2019, Turkey enacted new legislation requiring any foreign nationals purchasing or selling property in the country to obtain an expert surveyor’s report15.
You’ll need to hire a certified surveyor who can provide you with a report on the property’s condition.
This is not only required for the land registry to accept the transaction, but it can also assist you in determining the condition of the property before purchase.