If you have any questions regarding Turkish Citzizenship program or Turkey real estate market, you can find the answer here. If not, please do not hesitate to contact us and ask us your questions. We will answer your question in shortest time possible and share it also here if we find it relevant.
The payment should come from you only (account owner should be same as the new owner of the property). The money can come from another country directly. Or as second option, you can open an account here in a Turkish bank. First you can make the transfer to your account and then to the seller’s account.
Valuation reports are valid for 3 months. If the exchange rate changes and the value is below 250.000 USD with the current exchange rate, the report should be renewed if citizenship application will be made.
As Syrians are not allowed to buy properties under their names, they cannot obtain citizenship by real estate investment. However, they can benefit from other investment programs such as investing and keeping 500.000 USD in Turkish banks for 3 years.
Yes. In normal cases developers will have one price list which is same for Turkish people and foreigners. This is important for keeping a good reputation also for the developers.
No. Some developers might have two price lists in which they offer higher prices for foreign investors. We recommend you to be careful and think twice while dealing with developers with no references. Also in resale market, you should be careful choosing your real estate agent as some of them can change the price adding high commission on the prices.
You have to read carefully your sales contract before making a buying decision. Penalties are given in the sales contract for terminating it in different phases. You might have up to 20% termination penalty from the sales prices. Besides you will get paid back in Turkish Liras even if you have the payment in other currencies.
In the sales contract, you have to read your rights carefully. Normally, the developer has to pay monthly rents to buyers in case of a late delivery. The rents will start after 6 months from the given completion date of the project due to Turkish laws.
Yearly Property Tax has to be paid which is 0.2% for residential properties and 0.4% for commercial properties. Yearly earthquake insurance is also obligatory to be made which costs around 200-300 TL which depends on the value of your property.
First of all, you have to keep in mind always that you will be exempted from capital gains tax after 5 years of your buying. In other words; if you buy a property and keep this property at least for 5 years, you will not pay any income tax when you sell your property.
Capital gains tax will be calculated if you sell your property within 5 years though. You will be paying 15% to 35% from the inflated net income depending on this amount.
Yes. When you buy a property, you will be owning the property freehold. In other words, this property will be forever your property with all its right and will be acquired with inheritance to your family.
The reserved portion and legal inheritance right of children is %75 for the property and money left by the deceased. It will be equally divided depending on the number of children in the family. Remaining %25 will go to the wife/husband.
No. Since 1938, there is an international agreement that disallows Syrians to own properties in Turkey and Turkish people to own properties in Syria. Syrians can only buy a property under the name of a company that they can start here.