Things to Consider When Selling Real Estate to Foreigners

The main reason for the increase in housing sales to foreigners after 2015 is that foreigners gain the right to acquire Turkish citizenship. Foreign nationals who fulfill certain conditions have the right to apply for Turkish citizenship.

According to the house sales statistics announced by the Turkish Statistical Institute (TUIK) in March, there is a 31 percent increase in the housing purchases of foreigners compared to the same month of the previous year, and it was stated that 5 thousand 567 houses were sold to foreigners only in March 2022.

Istanbul took the first place in house sales to foreigners with 2 thousand 245 houses, followed by Antalya with 1434 houses and Ankara with 347 houses.

Considering all these figures, the question of how to sell housing to foreigners has also become an important question.

The answer to this question is; It is in Article 35 of the Land Registry Law numbered 2644. Mentioned in this article; Within the framework of legal restrictions, it is possible for people who are in line with the interests of the country and international relations to acquire real estate and limited real rights in Turkey. Again in the same article, by imposing restrictions on the sale of real estate to foreigners; It is the right of foreign nationals to acquire residences within the borders of the country, provided that the property they acquire does not exceed 30 hectares and 10 percent of the district area subject to private ownership.

There are some important points to be considered about the housing purchase process of foreigners who want Turkish citizenship. These issues are included in the Guide for the Acquisition of Real Estate by Foreigners in Turkey prepared by the Ministry of Foreign Affairs.

To access this guide; https://www.mfa.gov.tr/yabancilar-icin-rehber.tr.mfa You can go to the address.

Documents Required in Housing Sales to Foreigners

1. Title Deed Document of the real estate or information of village/neighborhood, island, parcel, building, independent section.
2. Identity document or passport.
3. Real Estate Fair Value Certificate obtained from the relevant municipality.
4. Real Estate Valuation Report.
5. Compulsory earthquake insurance policy for buildings.
6. Photos of the seller and the buyer taken within 6 months. 1 photo is required for the seller and 2 photos for the buyer.
7. Sworn translator for parties who do not speak Turkish, if necessary.
8. If a power of attorney is to be processed from abroad, the original or certified copy of the power of attorney together with its translation. These power of attorney issued abroad must be issued by the Consulate General or Embassy of the Republic of Turkey.