There are no restrictions on buying accommodation. However, if somebody wants to purchase land for the construction or cultivation of crops, they must be Turkish citizens. Foreigners are not prohibited from buying other real estate types.
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The purchase of any residential property, regardless of its value, provides for obtaining a residence permit.
A residence permit is issued within two-three weeks. To obtain it, one needs to:
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The residence permit is valid for 1-2 years.
A residence permit only gives the right to live in the country. It is not allowed to work in Turkey with this document.
If an applicant applies for citizenship, they have to buy an object with a cadastral value of at least $250,000. Before 2018, this amount was $1,000,000.
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Citizenship takes from four to six months.
There is no need to know Turkish for the documents.
Turkey has a concessionary program for mortgage loans. It allows foreigners to purchase property in the country on very favorable terms.
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The property owner has to pay the real estate tax annually. It is only 0.3% of the object’s price. Also in Turkey, there is a monthly fee for the maintenance of a residential complex called aidat. Its size depends on the infrastructure.
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Utilities include water supply and electricity. If there is no one living in an apartment, it is not needed to pay for utilities.
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In Turkey, there are three stages of indexing of real estate purchases in the primary market. An apartment that is still under construction costs 20% cheaper than it will in the future when the building will be handed over.