The Important Points of Selling House to Foreigners
In Turkey, individuals should pay attention to some important points who want to purchase house. Republic of Turkey citizens and foreign nationals who have no equal among the conditions for the sale of real estate. Foreign nationals have a certain size limitation, value limitation when selling homes. It is not possible for any sales transaction to be made for housing that does not meet the requirements.
Documents required for sales from foreigners
The documents to be demanded from foreigners will be different from Turkish citizens.
- Title of real estate
- If necessary, translation of the identity document or passport
- The residence permit issued by the Police Department for foreigners subject to the residence permit of real estate purchases
- If the purchase will be realized with a procuration coordinated in abroad, the original and certified copy of the procuration together with the translation
- Real estate value certificate from the municipality
- Policies for the compulsory earthquake insurance of buildings, such as houses and workplaces
- 2 photographs of the buyer, 1 photograph of the seller in the last 6 months
- There should be a sworn translator for non-Turkish speaking individuals
Housing restrictions on foreign nationals
In case of purchasing houses from foreign nationals, new regulations are organized for the restrictions. Especially in the transactions related to real estate sales, the condition of buying real estate worth at least 1 million USD has been reduced to 300 thousand USD level. It was foreseen that foreign nationals who would acquire Turkish citizenship would increase if the investment to be made in the country was at the level of 2 million dollars. The result in the first quarter of 2018 is that the sale of foreign nationals has increased even by 15%.
Foreign investors are coming from many countries, especially from the Gulf countries, that is expected to increase the number of houses sold to more than 50 thousand. Restrictions come for houses under 300,000 USD. Housing is not allowed in lower numbers. With the decision taken by the Council of Ministers, it is allowed to buy real estate up to 30 hectares in size. In addition, with a new decision this figure can be increased up to 60 hectares in certain situations.
If the size of the land to be purchased is more than 10% of the size of the district, new restrictions are encountered. The size of the divorce is added to the account, a rate of 10 % is set, and a foreign investor is allowed to receive only 10 % of the total size.
The lands which are not sold to the foreign people
There are many specific regions which are not sold to the foreign people in the borders of Republic of Turkey. It is not possible to buy military areas and private security zones in any way and to carry out similar activities on them. Except foreign citizens who can have limited real rights and premises in Turkey, individuals are not allowed to buy real estate. As the terms are very clear, you can follow the updated land sales conditions in special cases and learn the land that foreign nationals can purchase in Turkey. The procedures and documents for selling houses to foreigners should be provided completely.
Source : Hürriyet Emlak