The real estate market in Turkey is one of the markets that has witnessed a great and amazing development in the recent period, as it is years ago, Turkey was strict with regard to the field of buying real estate in Turkey in general by foreigners.
Before 2002, real estate ownership for foreigners was not allowed in Turkey. After that, real estate laws related to real estate ownership for foreigners were amended more than once to allow flexibility in real estate ownership for foreigners in Turkey due to the urgent need for foreign exchange in the Turkish economy.
Owning real estate in Turkey for foreigners, whether Arab or foreign investors, has some simple restrictions imposed by, and in this article we put you these restrictions in clear terms
According to the amendment that was made to the Turkish Real Estate Law and the issuance of Law No. 6302 of 2012, some restrictions imposed on foreign ownership in Turkey were lifted and eased, and the government approved some facilities and at the same time continued to reserve some restrictions and conditions imposed on citizens of some other countries, according to the following:
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A foreign person may not buy or rent real estate in security zones or restricted military zones.
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Any foreign person may own property in all parts of the country, with a maximum area of 30 hectares of real estate, and can create real estate rights in these areas.
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A foreign person can own property throughout the town (area) provided that the total area he owns in the area does not exceed a maximum of 10% of the total area, taking into account that this area is not more than 30 hectares, and he may establish a real estate with all rights in rem in these spaces.
Does the real estate ownership law in Turkey take the principle of reciprocity?
The law of real estate ownership in Turkey does not follow the principle of reciprocity, and according to the law mentioned below, Turkey has granted the right to citizens of 183 countries around the world the right to own real estate in Turkey without being subject to the conditions of reciprocity procedures. The most and most prominent reason for issuing this law was the desire of foreign investors to start real estate investment in Turkey, although Turkish citizens are not allowed to own and buy real estate in these countries, but the law may impose some conditions, obtain security approvals, or limit the use of the property for the purpose of a certain.
There are some nationalities that are prohibited from owning property in Turkey according to Turkish law, namely: Nigerian, Cuban, Syrian, Armenian, and North Korean.
Can foreign companies own real estate in Turkey?
According to Article 36 of the Law, if a company incorporated in Turkey has foreign capital, and foreign individuals, foreign legal entity or international company own 50% or more of the capital of this company or are entitled to appoint and dismiss the majority of the members of the company’s board of directors, the company’s right to Own real estate limited enough to cover the company's activities mentioned in the company contract.
Finally, buying real estate in Turkey, as well as obtaining Turkish citizenship, is available for most nationalities and countries, all you have to do is choose the right real estate agent who will help you choose the properties required for citizenship.