|• Are Foreigners allowed to buy properties in Turkey?||• How do Foreigners purchase properties in Turkey?|
|• What is the procedure of buying a flat in Istanbul for a foreigner?||• How long does it take to receive the title deed?|
|• Do I have to come to Istanbul to buy a property? Or can I proceed digitally?||• What is the benefit of buying a property in Turkey?|
|• How can I get a residency permit? If I buy a home in Turkey…||• Can I get long term residency permit for Turkey and can I get full Citizenship|
|• Which family members will be eligible to get the benefits of residency||• Can I issue a Title Deed with a partner name on it?|
|• Can foreigners open a bank account and what do I need to open a bank account?||• Is it possible for Foreigners to use a Mortgage loan from any bank?|
|• What are the payment terms when I buy a property in Istanbul?||• Can I get a tax number in Turkey as a foreigner? How do I get tax number?|
|• Are there any Taxes to be paid?||• Are there any other expenses involved in purchasing a property in Istanbul?|
|• Do I pay capital gain tax when I sell the property?||• What is the general Maintenance Fee when I buy an apartment in Istanbul?|
|• Do I have to pay the maintenance fee as an owner if I rent my apartment?||• What does a Free Hold Title Deed mean?|
|• What is a Private Equity Company and what is the difference with a real estate agency?||• Which area is the best to invest in Istanbul? Asian or European side?|
|• How much is it to buy house in Istanbul? I want 2 or 3 bedroom in Europe…||• Why to make an investment in real estate in Istanbul?|
|• How many bedroom properties are good for investment?||• What is the minimum amount that I should invest in order to apply for residency?|
|• Will there be furniture in the apartment?||• How much does it cost to furniture the house?|
Are Foreigners allowed to buy properties in Turkey?
Most nationalities are allowed to purchase a property or any real estate just like Turkish citizens after the new law has been published in January 2012. Please click here to see the full list of countries.
How do Foreigners purchase properties in Turkey?
On top of the website you can find a Tab with Useful Information. Under this Tab you can find the complete buying process and procedures.
What is the procedure of buying a flat in Istanbul for a foreigner?
As a foreigner, if you decide you buy a property in Turkey, you have the same procedure just like Turkish people. You choose the property; sign the contract than make the payment. After the payment is completed, the title deed will be issued on your name.
How long does it take to receive the title deed?
If the property is completed, it may take about 2-4 days to receive the title deed depending on your military check. Turkish people receive their Title deed immediately.
Do I have to come to Istanbul to buy a property? Or can I proceed digitally?
It is not necessary for you to come to Istanbul for the purchase of the property. As Istanbul Investments we are a private equity company that also works with big investors and fund groups. Because of this experience our staff can guide you through the process digitally by providing you everything through e-mail. You can choose your apartment in Istanbul according to the information our consultants give you. You can then decide to just reserve the property with a fully refundable deposit or immediate purchase by a direct wire transfer. On either way our consultants will guide you to eliminate all your question marks.
What is the benefit of buying a property in Turkey?
When you buy a property in Turkey, you will have the benefit of making a profitable investment in the favorable real estate market of Istanbul and you will also get eligibility to apply for long term residency.
How can I get a residency permit? If I buy a home in Turkey, will it be easier to take the permit?
With the new regulation, foreigners can buy a property in Turkey. After buying the property and taking the title deed, you have the right to apply for residency. Buying a house in Turkey will ease the application for residency. It will quicken the process.
Can I get long term residency permit for Turkey and can I get full Citizenship?
Like any country Turkey also has procedures, rules and regulations to receive a long term visa, residency permit and or full citizenship. The best way to apply is working with a lawyer or professional agencies. This will lift the language barrier and save you a lot of time dealing with different organizations. You can read the step by step guide by clicking here.
Which family members will be eligible to get the benefits of residency?
When you get the Title Deed of your property, you can apply for residency on your own name. The approval of your own residency will be also covering the residency of your wife and children under the age of 18 years old.
Can I issue a Title Deed with a partner name on it?
You can have a partner name on the title deed, so each partner has the ownership right on the property.
Can foreigners open a bank account and what do I need to open a bank account?
Yes, all foreigners are allowed to open a bank account in Turkey unless the bank itself has special house rules against particular citizenships. To set up a bank account you only need a Passport, a Turkish Tax Number which is obtainable from any Tax Office in Turkey and any utility bill (water/gas/electric) that shows your residential address in your own country.
Is it possible for Foreigners to use a Mortgage loan from any bank?
Foreigners are usually not eligible for a Mortgage Loan because you have no Turkish creditability. However there are some banks that do provide loans such as Kuveyt Turk Bank, Odea Bank and Deniz Bank. Istanbul Investments offers help with setting up a bank account to all our clients that have made an investment with us.
What are the payment terms when I buy a property in Istanbul?
If the project is complete, payment is required in cash. If the project is under construction, our private consultants will advise you the installment payment plans which are regulated according to SUKUK system
Can I get a tax number in Turkey as a foreigner? How do I get tax number?
Yes, you can get a tax number. You get the tax number from the tax office. You should have your passport translation which is approved by a notary .We will be assisting our clients during this process.
Are there any Taxes to be paid?
Off course like any other Government there are some taxes that need to be paid. You can find these Taxes again under our Useful Information Tab.
Are there any other expenses involved in purchasing a property in Istanbul?
There are some extra costs such as Stamp Tax or getting your utilities (Gas, Water and Electricity) connected. Please click here for a complete estimation of the closing costs.
Do I pay capital gain tax when I sell the property?
If you sell your property within 5 years from the day you buy, you should pay capital gain tax. If you sell your property even 1 day after 5 years, you don’t pay any capital gain tax.
What is the general Maintenance Fee when I buy an apartment in Istanbul?
The maintenance fee of each project is different according to the size of the surface and all the social facilities offered. The maintenance fees are generally between $ 1 t- $ 3 per square meter per month. The more luxurious the project is the higher the maintenance fee becomes.
Do I have to pay the maintenance fee as an owner if I rent my apartment?
The maintenance fee is paid by the owner. However, if the apartment is rented, the tenant is responsible for the maintenance fee. The tenant pays the entire maintenance fee for the duration of the rental agreement.
What does a Free Hold Title Deed mean?
A Freehold Title Deed means that the owner has total ownership of the property or real estate. The owner can own the property in constancy. The owner can sell the property or pass it to another person through any legal ways such as by sale or by inheritance. According to the property law, Freehold ownership is the highest ownership interest possible in real estate. In some countries, The Freehold ownership is still depended to limitation by the government such as uniting other property owners, agreeing to location restrictions and other municipal regulations.
What is a Private Equity Company and what is the difference with a real estate agency?
A Private Equity Company on Real Estate is an investment manager that makes investments on real estate and provides expertise and custom consultancy. Real estate agencies are more concerned with selling you a house. Private Equity Companies on real estate share their know-how on the domestic real estate market. Their main goal is to ensure their Investors a high profit and capital gain with a good cash flow in this favorable real estate market.
Which area is the best to invest in Istanbul? Asian or European side?
Istanbul is a city based on 2 continents Asia and Europe. It is a huge city, 200 km from one side to another. The European side is the heart of business, tourism, politics and social life. Therefore, you can find more and better investment opportunities on the European side.
How much is it to buy house in Istanbul? I want 2 or 3 bedroom in Europe side of Istanbul.
Istanbul is a huge city and the prices of each project and apartment change depending on the size, view and most important location. For more specific price details, please contact our consultants.
Why to make an investment in real estate in Istanbul?
• Istanbul has a growing economy in the world and these are the main points you should make an investment in Istanbul.
• Turkey has a very successful economy compared to other economies.
• Turkey has a large and young population.
• The Turkish labor force is qualified and competitive.
• Turkey has the most liberal and reforming investment environment.
• Turkey has well-established infrastructure.
• Turkey has the most central and strategic location.
• Turkey has low taxes and many incentives.
• Turkey is a Custom Union Member with the EU since 1996.
• Turkey has a very large domestic market.
How many bedroom properties are good for investment?
If you are looking for a property pure for investment purpose, then 2 bedroom units are preferable choices both for resale and rental market in Turkey. It also depends on the features of the project but a 2 bedroom is perfect for starting couples and small families which is the majority of the domestic demanders.
What is the minimum amount that I should invest in order to apply for residency?
There is no minimum limited amount in order to make an investment. You can make an investment at any amount with Istanbul Investments and get the right to apply for residency after you get your title deed.
Will there be furniture in the apartment?
In Turkey, the properties are sold without furniture. You buy your furniture on your own taste. Each project may have different options available however in most projects; they have fully fitted kitchens and bathrooms.
How much does it cost to furniture the house?
It depends on each person’s taste however you can furniture your apartment from A to Z approximately $15.000. Turkey also has IKEA for more affordable or practical decoration.