It is important to have all the required documents before making a purchase decision. Both Turkish people and foreigns are allowed to buy and own property in Turkey. However, the rules are slightly different for foreigners.
As a non-Turkish property investor, you can acquire a maximum of 30 hectares of land. If you want to buy residential units, then you can’t purchase any property located around military zones. Thirdly, expats can only own properties in areas with less than 10% foreign property ownership.
Once all requirements fine, you can start the process of buying. If possible, be present to witness the signing of your title deed and checking of all necessary documents. You can also choose a property management company to oversee the whole title deed application process on you behalf if you will be away from Turkey.
Every land owner or constructor must present a Dask insurance certificate during the processing of their title deed before starting building or using their land. The Dask insurance is a mandatory property cover against natural calamities like earthquakes. This cover has to renew annually by the landowner.
If you are relocating to Turkey, it is okay to handle the property buying process instead of your consultant agency. Therefore, there are various advantages of hiring an agent to manage your property even if you are living in Turkey.
Property agents will go through the title deed application process on your behalf. They also help manage the land or housing units bought while you are away or busy. In addition, agents help in property searches, which can be quite difficult for expats due to language barriers.
Property agencies in Turkey request a 3 percent standard fee of the value of your property. Turkish government cap this rate so should never pay anything higher than 3 percent.
You can read more about investing law in Turkey by government website, Click here
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