In recent years real estate ınvestments whıch foreıgn natıonals purchased ın turkey quıckly ıncreased.
Because of the ınvestment potentıal of turkey, direct flights to most of the world, climate, nature, history and culture, ıt seems that foreıgn ınterest wıll contınue.
Foreign nationals can buy every kind of property from turkey by following the legal restrictions.
Transfer of ownership of real estate in Turkey is carried out with the transfer of title in the land registry offices.
The property can be sold also with the ”sales promise agreement” which is signed in the notary. However, it is not possible to acquire real estate ownership in such sales. The title deed transfer has to be realized for the official acquisition of the property.
According to recent regulations now the foreign investor has the right to apply for Turkish citizenship with the purchase of real estate in the amount of at least USD 250,000 from the turkey, both with the transfer of title deed and the “sales promise agreement” signed in the notary public.
Important condition here, this property should not be sold within 3 years.
Real estate is also exempt from VAT (KDV) for foreign investors when they buy directly from the developer.