It represents an opportunity for stability and diversification of capital preservation.
Turkey stands out among promising investment destinations as an attractive choice for investment and land acquisition.
In this article, we will explore together conditions and rules for the land buying procedure in Turkey, providing you with a comprehensive view of the requirements and opportunities that await investors in this promising country.
Benefits of investing in land in Turkey
Turkey today is a hub of attraction for many businessmen and wealthy individuals who are heading towards it to take advantage of diverse investment opportunities, taking into account the land buying procedure in Turkey. Istanbul, among the leading global cities, is considered to offer opportunities for achieving success and profits.
In recent years, Turkey has witnessed an increase in investor interest, especially from those who seek to benefit from the advantages of land acquisition. Vast expanses of developable and investable lands are present in Istanbul, particularly in its outskirts, for both residential and agricultural projects. However, there are specific conditions and limitations on the building space allowed. These lands boast several appealing features related to infrastructure, economy, tourism, geography, and government support. These features contribute to making Turkey and Istanbul a center of attraction for agricultural investments and housing projects.
The prices of lands available for sale in Turkey vary based on the city, location, area, and various other factors. For instance, prices of lands that are close to Istanbul Airport differ from those in other regions. Generally speaking, land prices in Turkey are reasonable compared to neighboring countries.
In summary, Turkey represents an enticing destination for investors looking to benefit from diverse investment opportunities, including the land buying procedure in Turkey, whether in agricultural or residential projects, while adhering to specific government conditions and instructions for the land acquisition process in the respective state and city.
Tips for buying land in Turkey
Before purchasing land in Turkey, it is essential to determine the objective you intend to achieve from this process, including the land buying procedure in Turkey. If your goal is agricultural investment, you should examine the soil through specialized experts to ensure its quality and fertility. This step ensures that the earth is suitable for farming purposes and enhances the chances of the success of your agricultural investment.
For those interested in constructing a real estate project on the land, the type of title deed (Tapu) associated with it must be taken into consideration as part of the land buying procedure in Turkey. If the land has an agricultural title deed, you should be aware that no residential or commercial buildings are allowed to be constructed on it. In this case, it is necessary to verify that the type of title deed attached to the land permits the intended real estate use according to the requirements of the proposed project.
In summary, the necessary steps must be taken to examine the soil and verify the type of ownership title deed before purchasing, whether for agricultural investment or for building a successful real estate project as part of the land buying procedure in Turkey. We recommend seeking the expertise of VAAL Real Estate in the Turkish real estate market before taking any steps, as they possess extensive experience and knowledge in the Turkish real estate market and the related laws.
Conditions for buying land in Turkey
Both Turkish citizens and foreigners are allowed to own lands or commercial properties without any obstacles, and they are not required to confirm the use of these properties.
With some exceptions regarding foreigners, such as when acquiring agricultural lands and owning them, the buyer must submit an agricultural project to the ministry within a period not exceeding two years from the date of land purchase.
We will provide details and conditions for foreigners purchasing lands in Turkey later in this article.
What are the conditions for buying land in Turkey for foreigners?
The government instructions for land buying procedure in Turkey for foreign investors include certain conditions that must be adhered to, which are as follows:
1. Obtaining approval from government authorities.
2. Avoiding the purchase of lands adjacent to military facilities and sensitive areas.
3. Not exceeding the area of the land to be purchased by 300,000 square meters.
4. Not exceeding the total sold land area to foreigners in a specific area by 10% of the total area of that region.
Land buying procedure in Turkey
When one considers purchasing land in Turkey, they must be aware of the necessary land buying procedure in Turkey to successfully complete this process. Turkey is renowned for its natural beauty and diverse real estate investment opportunities, making it an attractive destination for many foreign investors.
However, buying land in another country requires a thorough understanding of local laws and regulations concerning real estate and property rights. Therefore, the buyer should be well-informed about the necessary steps, including the land buying procedure in Turkey, to purchase land in Turkey and know how to interact with government authorities, banks, and real estate agents.
Through this introduction, we will provide you with an overview of the typical procedures that may be necessary when buying land in Turkey. This includes searching for suitable lands, verifying property legitimacy, obtaining necessary approvals, and completing the purchase process legally.
What are the procedures for buying land in Turkey for foreigners?
Before starting the land buying procedure in Turkey, there are some important steps to follow to ensure a successful outcome and select land that suits your needs and financial goals. By carefully following these steps, you can obtain the best value for your investment and achieve your real estate desires in Turkey.
1. Set Objectives
Clearly define the objectives you wish to achieve from buying the land. Are you looking to invest for agricultural purposes, or do you plan to build a real estate project on it? Defining your objectives will help you choose the right type of land and the best location.
2. Determine Budget
Before starting your land search, it’s important to establish the budget available for property purchase. This budget will help you narrow down the price range that suits you and focus on properties that align with it.
3. Land Search
Conduct thorough research to find available lands. You can enlist the assistance of real estate agents such as VAAL Real Estate to help with the search and present available options that match your specifications.
4. Inspection and Due Diligence
Before making a purchasing decision, carefully inspect and thoroughly examine the land. You can consult a real estate expert to conduct this inspection and ensure the property’s condition and suitability for its intended use.
5. Legal Consultation
Obtaining legal advice from a specialized attorney before signing any purchase contract is essential. The attorney will help you understand all legal aspects and ensure the protection of your rights in the transaction.
6. Government Approvals
Ensure you obtain the necessary government approvals to purchase land in the desired area. Some regions may be subject to special laws for foreigners, and compliance is required.
7. Contract and Title Deed Registration
After confirming the land and agreeing on purchase terms, formalize the contract with the seller in the presence of witnesses. This is done at the Land Registry Office. Subsequently, the title deed (Tabu) for the land will be issued in your name.
By carefully following these steps, you can confidently and securely navigate the land buying procedure in Turkey and successfully achieve your real estate goals.
In conclusion to this journey of exploring the procedures and conditions for buying land in Turkey, we realize that land is not merely a piece of soil; it is an opportunity to build dreams and a sustainable future. Turkey combines enchanting natural beauty with a vibrant economy, making it an appealing destination for investors seeking to invest in land.
Whether you’re searching for a place to build your new home or to develop an investment project, Turkey opens its arms to boundless opportunities. By understanding the land buying procedure in Turkey and adhering to the applicable conditions, investors can maximize their gains from a successful investment experience in this diverse and investment-friendly country.
Edited by: VAAL Real Estate