In the field of real estate investment in Turkey, the number of foreign investors is growing every year.

The rights of the real estate investor in Turkey

Date:

Thursday, January 12, 2023

In the field of real estate investment in Turkey, the number of foreign investors is growing every year.

In the field of real estate investment in Turkey , the number of foreign investors grows significantly every year, especially from the Arabs, as a result of the facilities, incentives, and large offers in the markets, and because of the worsening conditions in the Middle East region and the increasing unrest that casts a shadow on the economic conditions and weak investment opportunities in the surrounding countries, and it has become important to know The most important rights that the investor will enjoy when making the decision to own and invest in real estate in Turkey.

The most important rights of the foreign real estate investor in Turkey:

Ownership right:

Real estate investor Real estate in Turkey has all the right of foreign ownership of the various types of Turkish cities, unless they are near military security zones, or the percentage of ownership of foreigners has been met , for the foreign buyer and offers all the advantages of real estate ownership in Turkey .

Obtaining a real estate appraisal document:

According to the decisions issued by the Turkish government in 2019 , when selling any real estate to foreigners and before completing the official procedures, a real estate appraisal document must be submitted. It is issued by companies specialized in evaluation in Turkey, as a necessary condition for completing the sale process to a foreigner. This document includes an evaluation of the price of the property, which constitutes a safety factor. For the foreign buyer, it guarantees him not to manipulate prices and protect him from fraud in buying and selling.

Obtaining Turkish citizenship:

The foreign investor in Turkey has become able to obtain Turkish citizenship by purchasing real estate in Turkey , and the minimum value of real estate that the investor can apply for Turkish citizenship after purchasing has been reduced , and it has become approximately 250 thousand US dollars or its equivalent, provided that the property that you purchased is not sold It was purchased for three years from the date of transfer of ownership.

The decision attracted many foreign investors and encouraged them to buy real estate in Turkey , because the Turkish passport enjoys facilities and advantages in an advanced position. Travel in the world among passports, and in the past year 2019 , a thousand foreign investors obtained Turkish citizenship.

Obtaining real estate residence:

One of the rights of a foreign investor in Turkey is to obtain real estate residence in Turkey when purchasing any property inside Turkey, and this residence permits him to enter and exit Turkey and move within it without the need to obtain a visa, and the foreign real estate owner has the right to renew this residence as long as the property remains in his name as he obtains Real estate residence: The husband/wife of the owner of the property, in addition to his children who have not reached the age of 18 yet.

Obliging the contractor to be fully responsible in the event of a defect in the property:

According to Turkish law, the contractor is obliged to fulfill his promises about the specifications of the property and everything related to it, which he presented in all advertisements, flyers and brochures, for a period of five years from the date of building the property, whether the defect was in concealing a defect in the property or failure to secure furniture or the quality of the cladding that Promised by the buyer, if the buyer has the right, when this defect occurs, to file a legal complaint in this regard, and upon confirmation of that, he obtains his right either by rescinding the sales contract and refunding the money paid, or reducing the price of the purchased property after estimating the size of the defect or defect in it, or replacing the property with another property He holds the same specifications that he agreed with the contractor from the beginning, or the contractor compensates him by correcting the defects in the property itself by improving and completing them as agreed upon.

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