How to Buy a Home in Turkey

Buying a home in a foreign country can be a daunting task, especially if you're unfamiliar with the local real estate market and regulations. This guide aims to provide expats with a comprehensive overview of the process of buying a home in Turkey. From finding houses for sale to understanding the legal requirements, we'll cover all the key topics you need to know to make your home buying journey in Turkey as smooth as possible.

How do I find houses for sale in Turkey?

There are several ways to find houses for sale in Turkey. Online property portals are a popular choice, offering a wide range of listings from across the country. Local newspapers and real estate agencies are also good sources of information. It's advisable to engage a reputable real estate agent who can guide you through the process and help you find a property that suits your needs and budget.

Are there restrictions on foreigners owning property in Turkey?

Yes, there are some restrictions on foreigners owning property in Turkey. For instance, foreign buyers cannot own more than 30 hectares of land in the country, and the total amount of property owned by foreigners cannot exceed 10% of the land in any given district. However, these restrictions can be circumvented legally by setting up a Turkish company to buy the property. It's important to seek legal advice before proceeding with this option.

Does Turkey have an MLS type system?

Turkey does not have a Multiple Listing Service (MLS) system like in the U.S. Instead, each real estate agency has its own listings. This means you may need to work with multiple agents to see a wide range of properties. However, many agents collaborate and share information about available properties.

Do brokers have licenses and how do I know if they are licensed?

Yes, real estate brokers in Turkey are required to have a license. You can verify a broker's license by asking to see their identification card, which should display their license number. It's also a good idea to check if they are a member of a professional association, such as the Association of Real Estate Investment Companies.

What documents are required when buying a home?

When buying a home in Turkey, you'll need to provide several documents, including your passport, a Turkish tax number, and proof of address. You'll also need to sign a sales contract, which should be notarized. If you're buying a property through a company, additional documents such as the company's articles of association and a power of attorney may be required.

Do I need a lawyer when buying a home in Turkey?

While it's not mandatory to have a lawyer when buying a home in Turkey, it's highly recommended. A lawyer can help you navigate the legal process, ensure all documents are in order, and protect your interests. The cost of hiring a lawyer can vary, but you should budget for around 1-2% of the property's purchase price.

Do people typically buy a property with all cash or take out a mortgage?

Both options are common in Turkey. Some buyers prefer to pay in cash to avoid interest rates and paperwork, while others opt for a mortgage. If you're considering a mortgage, it's important to note that foreign buyers may face higher interest rates and stricter requirements than local buyers.

Are there inspections that take place, and if so what is that process like?

Yes, property inspections are a standard part of the home buying process in Turkey. The inspection is typically carried out by a licensed surveyor who will assess the property's condition and value. The buyer is responsible for arranging and paying for the inspection, which should be completed before the sales contract is signed.

What are some of the pitfalls to avoid when buying property in Turkey?

One common pitfall is not thoroughly researching the property and the local market. It's important to understand the property's value, location, and any potential issues before making a purchase. Other pitfalls include not verifying the seller's ownership of the property, not checking the property's zoning status, and not seeking legal advice. To avoid these pitfalls, it's advisable to work with a reputable real estate agent and lawyer.