|Thursday, January 12, 2023
Turkey attracts Arab and foreign investors interested in the Turkish real estate market, and the real estate.
Owning real estate for foreigners in Turkey
Turkey attracts Arab and foreign investors interested in the Turkish real estate market. In the past few years, Istanbul real estate has witnessed widespread growth and prosperity, as Istanbul has become the first destination for foreign investors, due to its importance on the economic level, as it is the economic center of the country. .
And based on the interest of foreigners to own apartments in Turkey in general and the search for apartments for sale in Istanbul in particular, they must know everything related to foreign ownership of real estate in Turkey
Do foreigners have the right to own a property in Turkey:
According to Article 35 of the Turkish Constitution, a foreigner has the right to own real estate in Turkey , whether the real estate is a residential apartment, a commercial store, or agricultural land, and the location of the real estate must be far from military areas or lands belonging to the state in general, and the Turkish government has issued in the years Past many decisions that facilitate foreigners to own real estate in the country.
What are the conditions for owning real estate for foreigners?
If the investor wants to buy apartments in Istanbul, for example, he has the right to own more than one property, whether it is residential or commercial, but if he prefers to buy land and reclaim it, there are some conditions that he must adhere to, namely:
- The investor must submit his project and reclaim the land within two years. If he wants to build an industrial facility or reclaim the land with an agricultural project, he has two years to activate his project.
- The foreign investor should obtain approvals from the relevant security authorities if the land is close to the military areas.
What are the rights of foreign property owners:
A foreigner who owns real estate in Turkey is entitled to obtain a two-year renewable residence permit under the ownership of apartments in Turkey
Foreigners are allowed to own real estate in all Turkish cities, and we at FCC Real Estate Investment and Development Group advise our clients wishing to buy real estate in Turkey to choose Istanbul as it is the cultural, economic and tourist capital of Turkey and has all the ingredients for a successful investment.
Turkish law also guarantees the right to bequeath the property to the legal heirs in the event of the death of the owner of the property, and the inheritance is distributed in accordance with the Turkish law on inheritance.
A foreign property owner can sell his property at any time he wants. We advise our valued clients, when they intend to sell their property, to coordinate with a trusted real estate company or office.
Tax fees for transfer of ownership:
Real estate ownership tax is paid to foreigners in Turkey only once and amounts to 4% of the price of the property and is often distributed equally between the seller and the buyer. After completing the payment of the tax fees, the seller assigns the property to the buyer and the new owner receives the title deed from the Tabu Department.
After the buyer receives his property, he can subscribe to gas, electricity, water, internet, and other services, and this is done by paying the insurance value and connecting the previous services for one time by visiting the concerned institutions, which are simple procedures. We at the FCC can help you by providing all the necessary services.
Arab ownership in Turkey:
Arab businessmen and investors headed towards Turkey, and in recent years, Arab investors focused on the Turkish real estate market, where high rates of buying apartments were recorded in Istanbul, and the Gulf countries occupied the first ranks for the highest rates of purchase. The Saudis headed towards Turkey and invested their money in buying villas in Asian Istanbul and apartments in European Istanbul and other Turkish cities.
There are many real estate investment options in Turkey, including:
Buying real estate in projects under construction in vital areas, then selling them after the completion of the project. The most attractive thing for the Arab investor now is the search for apartments for sale in Turkey that are under construction.
Investing lands for sale in Istanbul in strategic locations within the organizational plans.
Buying apartments in Istanbul in ready-made projects within high-end residential complexes and renting them out with a high profit return.
FCC Real Estate Investment and Development Group offers you a selection of giant residential and commercial projects that suit all your needs. It is enough to contact our team to book your distinguished real estate in Turkey.
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