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Invest in real estate in Turkey

Updated on Monday 18th April 2016

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real_estate_investments_in_turkey.jpgReal estate properties in Turkey are appealing for foreign investors attracted by the low prices, the warm climate and interesting opportunities for investments offered by this country that has had a stable economic growth in the recent years. Foreigners are interested in buying holiday houses, lands and buildings for pleasure or for investments.

Turkey is supposed to be a future EU member and has major connections with other European countries. Besides these, the legislation related to foreigners buying properties in Turkey has changed and there are a fewer limitations now than in the past years. But there are still some limitations related to the surface of land that can be bought by a foreigner.

Restrictions for foreigners

A foreign citizen is not allowed to purchase more than 30 hectares and no land at all in the security zones or military forbidden areas. The investors interested in buying land in a town should know that they are not allowed to buy more than 10% of the total area.

Before making the investments in a real estate property, the foreign citizens must find out, from the Turkish military authorities, if the land they want to buy is not in a military area and if they are allowed anyway to buy properties in Turkey. Some nationals are still forbidden to purchase real estate properties in Turkey, according to the local law. Details about the possibility to buy land in Turkey can be found at the local land registry offices. According to the recent laws, the foreigners are encouraged to buy land in Turkey and make important investments.

The Turkish real estate market was not affected too much by the economic crises as other European countries and the interest in this field has even increased, according to a report created by PricewaterhouseCoopers (PWC) and the Urban Land Institute (ULI) in 2012. Istanbul is one of the most attractive towns for investments in real estate properties, among other important cities, such as: Berlin, Warsaw and Munich and Turkey ranks on the third position in the top of most attractive emerging countries for real estate investments in 2012.

Prices for properties in Turkey are expected to rise in the following years. The average of rising is nearly 15% per year, according to the Turkish Central Bank Real Estate Index in 2012 (April).

When you need details about how you can invest in real estate properties or you need to set up a company in Turkey, you can contact our local agents in company formation. They can offer assistance and guidance for foreign investors interested in purchasing land and buildings in Turkey.

 

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