FAQ

Can a foreigner buy property in Turkey?

If you are not a citizen of Syria, North Korea, South Cyprus, Armenia, or Cuba; this means that you are legally eligible to purchase properties in Turkey.
What documents do i need to buy property in Turkey?

if you want to invest in real estate in Turkey, you will need the following documents, A translated copy of the investor's passport which is approved by a local notary, 3 biometric pictures of the buyer, A Tax number which is easily obtained at the nearest tax office and a Turkish Bank account.
How much are the taxes when buying a property?

The one time taxes are the following: Property purchase tax is 4% generally, sometimes to boost sales Turkey lowers this tax to 2/3%. it's important to discuss who pays this tax, Generally it's 50/50 or the buyer that pays 100% of this tax. Value added tax (sometimes included in the price of the apartment) 1% for apartments under 150 Sqmt and 18% for apartments above that. Fees for installing electricity, water and gas vary.
Do I need a property insurance in Turkey?

Yes, when you officially become an owner of property in Turkey you will need to get an earthquake insurance, This is locally known as ''DASK''. You can't sell or buy a home if it does not have an active DASK insurance. The cost of this insurance is very low.
Can I purchase my property in Euro or Dollar?

as of 24 January 2022 it's required to purchase the property in Turkey with Turkish Lira. this is to support the Turkish Lira.
Can a foreigner apply for a mortgage in Turkey?

Yes, foreigners are eligible to get a mortgage in Turkey, intrest rates and conditions vary from bank to bank. so it's best to visit a few banks and get their offers.
Do i have to declare my rental income to the tax office?

Yes you do, a good accountant can help you easily on this matter. Tax brackets depend on the amount of rental income you have.
Should I rent Short-term or Long-Term?

This depends on many factors, mainly the location. In some areas close to the seaside you will generate more income in 4 months short-term rent, then if you would rent it with a 1 Year contract.
How much deposit will I get if i rent out my property?

There is no straightforward answer to this. Short-Term rentals have little to no deposit. (so it's not a bad idea to take an extra insurance while doing short term rentals.) 1 Year rentals have deposits ranging from 1-3 months upfront payment.
Do i earn more rent income year by year?

Yes you do! We can prepare the rental contract in 2 different ways. With a fixed % (mostly between 7-12%) Regarding to the Turkish consumer price index (also in %)