Turkish property market

Latest news and updates on Turkish property market. Guides to buying and renting a home in Turkey — investment tips and local content on Istanbul.
6 January 2022

Back in May 2012, in accordance with the Article 35 of the Land Registry Law No. 2644, amended by Law No. 6302, which came into force on 18 May 2012, the condition of reciprocity for foreigners who wish to buy property in Turkey was abolished. Following this in 2018, with the citizenhip by property investment programme, buying an apartment in Istanbul became attractive to foreigners who are considering to buy property abroad.

Buying a home in Istanbul as a foreigner might not be as straightforward as buying in your home country. Aside from the Bureaucratic side of the process, the alternatives should be carefully inspected based on the profitability. Istanbul offers hundreds of thousands of property choices and not all of them are smart to invest in.

Buying a property in Istanbul - tips and things to know

The apartment building

Buying a property in Istanbul - tips and things to know

Epic example of an elegant 19th century historic property

First of all, you need clear objectives. Are you looking to buy in Istanbul to live in the property - or wishing to rent it out? Will it be an investment or is it for getting a Turkish passport? The answers will determine which property and which part of Istanbul is right for you as not every property is a good investment and not all properties are ideal rental apartments.

Buying a property in Istanbul - tips and things to know

View each property individually. Reality often might be different than how the property is being advertised and a viewing can do property justice. View as much properties as possible. Unique properties in Istanbul

Buying a property in Istanbul - tips and things to know

Some of the properties in Istanbul real estate market might lack the correct paperwork for their owners. Such paperwork might include the zoning and planning permissions, condominium rights which in the end, which would avoid you to get a TAPU (title deed) and make the whole process a waste of time.

Two of the properties currently on the market

Turkish property market is booming with excessive supply in real estate development. This is not always a very good news as the excessive supply in real estate development market would have the prices decrease to market equilibrium. This means that a wrong step in Istabul property market might have your investment diminished. The excessive amount of supply in real estate in Istanbul also brings an excessive number of real estate agents. It is also vital to find the correct agency that knows the market and understands your needs.

Buying a property in Istanbul - tips and things to know

8. Spending 250.000 USD will get you a Turkish passport

From the year of 2018, the Turkish goverment is allowing foreigners to acquire Turkish citizenship by real estate investment that is worth a minimum of 250.000 US dollars. Learn more about the Turkish citizenship programme here.

The criterias to obtain Turkish citizenship in accordance to the law are as follow:

  • The real estate investment must worth at least 250,000USD whether for a single property or multiple real estate.
  • The purchased real estate must have title deeds (TAPU) completed and ready.
  • Application for the citizenship must be done via a lawyer.
  • A surveyor would be sent by the government for valuation of the purchased real estate - the investment amount that is spended and the amount on the title deed is to be checked and verified by these officals.
  • Following the acceptance of the application, Turkish goverment to place a charge over the title deed making the property unsellable for 3 years. After 3 years, the property will be free again to be sold.
  • The whole application process takes from 3 to 6 months all together.
  • Once all done, Turkish citizenship will be granted to the buyer, as well as their wife/husband and kinds who are under the age of 18.

Buying a property in Istanbul - tips and things to know