Rights of Real Estate Investors in Turkey

In the field of real estate investment in Turkey, the number of foreign investors is growing significantly every year, especially from Arab investors, due to the facilities, incentives and huge offers in the market and the deteriorating conditions in the Middle East and The growing turmoil is casting a shadow. Considering the economic conditions and weak investment opportunities in surrounding countries, it becomes important to understand the main rights that investors will have when deciding to own and invest in Turkish real estate.

Main rights of foreign real estate investors in Türkiye

Property

Turkish Real Estate Investors with Foreigner Ownership Real estate is enjoyed by foreign buyers and their various types in Turkish cities, unless they are close to military security zones or the proportion of foreign ownership has reached to provide all the advantages of Turkish property ownership.

Obtain property appraisal documents

According to the 2019 Turkish government decision, when selling real estate to a foreigner, before completing the official procedure, a real estate appraisal document must be presented, which must be issued by a Turkish professional appraisal company, as a necessary condition for completing the sale to a foreigner, this document contains This is a safety factor for real estate price assessments. Foreign buyers assured him that prices would not be manipulated and that he would be free from fraud when buying and selling.

Obtaining Turkish Citizenship

Foreign investors in Turkey have been able to acquire Turkish citizenship by purchasing real estate in Turkey, and the minimum value of real estate for which an investor can apply for Turkish citizenship after purchase has been reduced to approximately $250,000 or its equivalent, unless the property is sold . Purchase for three years from date of transfer.

Many foreign investors are encouraged by this decision and motivated to buy property in Turkey due to the convenience and benefits of traveling in Turkey. Traveling around the world between the passport and last year 2019, a thousand foreign investors obtained Turkish citizenship.

To obtain a residence permit:

One of the rights of a foreign investor in Turkey is to obtain a Turkish real estate residency when buying a property in Turkey, which allows him to enter and exit Turkey and move within Turkey without paying for a visa, and the property owner of the foreigner has the right to renew this Right of residence, as long as the property remains in his name after he acquires the right of residence as an owner.

In the event of a defect in the property, the contractor is obliged to assume full responsibility for:

According to Turkish law, the contractor is obliged to fulfill his commitments in all advertisements, brochures and prospectuses regarding the specifications of the land and everything related thereto, for a period of five years from the date of construction of the project. Land, whether the defect lies in concealing a defect in the property or failing to fix the furniture or A. The type of paneling promised to the buyer, if the buyer has the right to lodge a statutory notice of defect in connection therewith, should the defect occur, he will have the right to terminate the sale as soon as it is confirmed Contract and recover the sums paid, or reduce the price of the purchased property after estimating the defect or the severity of the defect, or replace the property with another property having the same specifications, which he has agreed with the contractor from the outset, or The contractor compensates him by eliminating defects in the property himself, improving and supplementing the property as agreed.