Buying a Holiday Home in Turkey

As people all over the world are becoming increasingly familiar with Turkey, they are becoming more and more interested in owning properties in this country. The regions along the western and southern coasts are becoming favorite buying prospects for foreign citizens. The prime reason for this popularity lies in the fact that Turkey has emerged as a tempting holiday destination. The Mediterranean climate ensuring sunshine throughout the year and the vast unexplored coastline are inviting more and more people to Turkey. Purchasing property in Turkey can prove to be an excellent investment for the future as Turkey is currently one of the largest emerging markets, in the global scenario, with a very commendable growth rate. Once a member of the EU, Turkey promises to be an even better prospect.

Purchasing a property in Turkey is quite hassle-free as long as the buyer is clear in his mind about what he wants to do. Buyers need to consider the official rules and regulations and foreign nationals need to pay special attention to the various legal intricacies of procuring real estate property in Turkey.

Can any foreign citizen buy property in Turkey?

Almost all foreign citizens can buy property in Turkey provided:

1. The property in contention is within the limits of a municipal area. A village or town whose registered population exceeds 2000 is classified in Turkey as a municipal area.

2. A reciprocal agreement exists between the two governments, i.e., the government of the purchaser’s country and the government of Turkey.

3. The property in contention is not within the boundaries of a military area.

These basic and uncomplicated regulations are extremely important and should be strictly abided by. Foreign nationals trying to deceive the system by buying properties in prohibited areas are engaging in futile activities. Such an acquisition, in the name of a Turkish contact under the shield of a private notarized contract, does not stand a chance of recovery in case of a dispute.

The procedures and laws of buying property in Turkey

In Turkey, property-purchasing laws vary from one location to another. Primarily, a prospective buyer needs to acquire the general but necessary information about the route that needs to be followed to buy a property in Turkey abiding the Turkish Laws derived from the Turkish Constitution.

Registration and delivery of property

In Turkey, a qualified official of the Property Registry Department executes the duty of formally entering the transfer of ownership in the property register. The delivery of the deed confirming the transfer must take place in writing.