After the renaissance in 2019, Turkey’s real estate investment reached its peak as this investment proved successful and stable. Hence, foreigners increased their interest in the Turkish real estate market and increased the value of understanding the laws and guarantees that protect their rights. Always use a solicitor when purchasing a property for sale in Turkey.
Turkey abolished reciprocity with countries that do not give Turks the right to own real estate on their territory, citizens of 183 countries have the right to own property on Turkish lands, and a range of nationalities have been removed for reasons relating to Turkish national security, they include Syria, Armenia plus North Korea.
Turkish citizenship via real estate investment
The right to obtain Turkish citizenship must be one of the first and most essential rights attracting foreign investors to Turkey, in particular after the amendments, which reduced the number of real estate investments in Turkish real estate to $250,000 and increased the opportunity to obtain an essential Turkish passport, particularly for those with heads of money who want to travel freely. Statistics support the continuous rise in the number of Turkish people until the end of 2019 through real estate investment.
How do I get real estate residency?
Real estate law grants foreigners who purchase property in Turkey, regardless of its value, the right to acquire an immovable residence in Turkey for a term of one or two years, which can be extended.
The holder of that residency is entitled to enter and leave Turkey free of charge whenever he wishes without the need for a visa, as he is allowed to switch between the Turkish States without consulting the authorities or demanding a travel permit. Often he may even receive free or symbolically priced health and education services.
After eight years of real estate residence, an owner can apply for long-term residence
After the government tightened the renewal of tourist residency for foreigners, the urge of foreigners to acquire real estate residency has increased, as it is the best choice for those who want to live in Turkey now.
Real estate inheritance
Ownership of property belonging to foreigners in Turkey is passed to their legal heirs after their owners’ death, a problem that can occupy the minds of those who wish to own real estate in Turkey. These are subject to the Turkish law on real estate inheritance that does not discriminate between men and women and is considered the first will, as can the heirs, they have recourse to the Turkish judiciary and request recourse to the country’s inheritance law of the original owner of the property.
Evaluation of my property
Turkish law guarantees foreign buyers’ security from fraud using the Real Estate Appraisal Law, which obliges those who wish to purchase real estate in Turkey to issue an assessment to ensure that they obtain the property’s actual price. Via companies approved by the Turkish government.
The right of acquisitioning the seller
For five years from its creation, the purchaser of the property, the contractor, is liable to legal responsibility for the property’s defects, and the buyer has the right to be kept responsible when discovering a fault in the building that did not result in use. To assert his right to property free of defects, to return the property to the owner of the property and to cancel the contract of sale or to correct defects if they are repairable. Or, to replace the property with another if that alternative is appropriate, and to claim financial compensation if the defect results in additional damages.
The contractor must fulfill the promises made in real estate advertisements
As an estate owner in Turkey, your rights are guaranteed by statute and secured by the state. Search for a trusted real estate agent and quickly make sure that you find the right house for you.