Legal Updates: What Foreign Property Buyers in Turkey Need to Know

Turkey remains one of the most popular countries for foreign nationals buying property. In 2024, several legislative changes were introduced that may affect how foreigners acquire real estate. These new rules aim to increase transaction transparency, protect buyers' rights and strengthen the Turkish property market. Let us look at the key points to keep in mind.

• 1. Registration of ownership (TAPU)

  TAPU (the document confirming ownership of a property) remains the main legal document when buying real estate in Turkey. However, since 2024 foreign buyers are required to:

  • Provide a detailed translation of the sales contract into their native language. This rule was introduced to prevent misunderstandings and ensure full transparency of the transaction.
  • Verification of documents by a notary has become a mandatory step. This includes checking the TAPU, the property's registration data and agreement on all contract details.
• 2. Tax changes

  Since 2024, Turkey has applied updated tax rules for property purchases:

  • The property acquisition tax remains 4% of the declared value of the property. However, all payments must now be confirmed by bank transfer, which rules out the use of cash.
  • Appraised value of the property: From the new year, properties are valued only by state-accredited companies. This is intended to combat the understatement of prices when documents are submitted.
• 3. New restrictions by area

  Foreign nationals cannot buy property in strategically important zones of the country, including border areas and military zones. In 2024 the list of such areas was expanded, so it is now important to check in advance whether the chosen property can be purchased by a foreigner.

• 4. Buying for a residence permit and citizenship

  Residence permit and citizenship-by-investment programmes remain relevant, but with some changes:

  • The threshold for citizenship by investment has been raised to USD 400,000. This applies both to property purchases and to investments in construction.
  • For a residence permit, the minimum value of the purchased property must now be at least USD 75,000 in major cities (for example, İstanbul or Ankara) and USD 50,000 in the regions.
  • A property bought to obtain citizenship must be held for at least 3 years before it can be resold.
• 5. Stricter requirements for real estate agencies

  In 2024, new rules were introduced for real estate agencies working with foreigners:

  • Agencies must hold a licence to operate and liability insurance for transactions.
  • A single register of certified real estate agencies has been created that includes only vetted companies. This helps foreign buyers avoid unscrupulous intermediaries.
• 6. The role of the land registry office

  Since 2024, Turkey's land registry and cadastre office has received additional powers:

  • All transactions with foreign nationals must be registered in a special database.
  • An online service has been launched to check a property's status and legal "cleanness", available in English.
• 7. Introduction of mandatory property insurance

  From the new year, insurance of properties at the time of purchase has become mandatory. The policy includes:

  • Protection against natural disasters (for example, earthquakes).
  • Additional options such as fire and flood insurance.
• 8. Simplified processes for international buyers

  Turkey continues to simplify the property purchase process for foreign nationals:

  • An online application system for TAPU registration has been introduced. This allows foreigners to start the process while outside the country.
  • Translation services and legal support are now available directly at land registry offices to make document processing easier.
• Conclusion

  The 2024 changes in Turkish legislation aim to create a safer and more transparent property market. Foreign buyers should take the new rules into account to avoid difficulties when buying a home or commercial property. It is advisable to work with licensed agencies and to check the legal status of a property thoroughly before buying.

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