|Thursday, January 12, 2023
Turkey is distinguished by its important strategic geographical location in relation to the Middle East and the world, as it is “.
Do Palestinian document holders have the right to own real estate in Turkey?
Turkey is distinguished by its important strategic geographical location in relation to the Middle East and the world, as it is the link between East and West. It enjoys political and economic stability.
Its economy flourished to achieve a quantum leap and rapid development, as the Turkish economy was classified as the second fastest growing economy after China. This is due to the economic reforms achieved by the Turkish government, as it restructured the financial system in the country by developing the work of public banks in Turkey , and the development model was followed in the field of exports and low inflation in the markets in addition to achieving a broad urban renaissance and began from the establishment of Giant infrastructure projects. The Turkish government has been interested in pursuing an active foreign economic policy, and has prepared regional relations and helped Turkish businessmen to increase economic cooperation with other countries. And it relied on bringing capital from abroad by providing support and large facilities to foreign investors, and it was interested in stimulating investment in the real estate market in Turkey.It legislated special laws for foreign ownership and provided all necessary facilities for that.
Government decisions for foreign ownership of real estate in Turkey:
On 9/18/2018, the Turkish government issued a decision to grant Turkish citizenship to anyone who owns a property worth $250,000. Excludes Palestinians holding documents (Egyptian, Lebanese, Iraqi and others)
As the Palestinian document holders were not entitled to own real estate in Turkey . Standing by the Turkish government to encourage Palestinian investors who hold documents and from a humanitarian point of view, the government decided to put an end to the suffering of Palestinian document holders and issued a decision on 6/3/2019 issued by the Department of Foreign Affairs in the Turkish Land Registry Directorate stipulating that Palestinians who hold documents are allowed to own apartments in Turkey. Regardless of the value of the property, and whether the aim of the purchase is to obtain Turkish citizenship or to buy apartments in Istanbul and other Turkish cities for housing or investment.
It is worth mentioning that the holder of the Palestinian document must have obtained a residence permit from the Immigration Department, after which he can buy apartments in Turkey and register them in his name in the Tapu.
The law also provides for the possibility of the Palestinian holder of the document to appoint another person as a legal agency to complete the purchase of houses in Turkey, and the agency must be translated and registered with the notary (notary public) or through Turkish embassies and consulates abroad.
In this context, it is worth highlighting the rights of foreign property owners in Turkey in general, and the rights of Palestinian document holders.
Rights of foreigners who own apartments in Turkey:
A foreigner who owns real estate in Turkey has the right to obtain a two-year renewable residence permit by purchasing a property in Turkey . Foreigners and Arabs are allowed to own real estate in all Turkish states. We at FCC Real Estate Investment and Development Group recommend our clients to search for apartments for sale in Istanbul if their goal of buying is to invest, because the investment value of the real estate market in Istanbul is the highest among Turkish cities.
One of the most important inquiries that we receive from clients is whether foreigners who own real estate in Turkey have the right to inherit the property? The answer is yes, as Turkish law guarantees the right to bequeath the property to the legal heirs in the event of the death of the owner. The inheritance is also distributed according to the Turkish law on inheritance.
On the other hand, foreigners and Palestinians who hold documents have the right to sell their real estate if they want to, with the exception of the investor who bought a real estate with the aim of obtaining Turkish citizenship, as he is required not to sell the real estate until after three years have passed.
If you are a Palestinian document holder and want to buy apartments in Istanbul for the purpose of real estate investment or housing, we offer you the best real estate offers in Istanbul within the most prestigious residential complexes in Istanbul. You can contact the FCC Real Estate Group team to get your free consultation.
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