- April 1, 2018
- Posted by: Cemal Sert
- Category: Investing in Turkey
Who can Buy?
During 2012, Turkey eased the restrictions on the purchase of real estate in Turkey by foreign nationals. The new laws increased the number of countries whose citizens can purchase property in Turkey from 53 to 129.
The laws also include restrictions on ownership by citizens of 52 countries. Citizens of China, Denmark, East Timor, Fiji and Israel are allowed to buy one residence. Jordanian nationals can buy two residences and one place of business. Citizens of Russia, Ukraine, Bulgaria and Greece have specific restrictions on the areas of Turkey in which they can buy real estate. All purchases of Turkish real estate by foreign nationals must be authorized by the Turkish military authorities – this is to ensure that the property is not in a restricted area. Citizens of Armenia, Cuba, Nigeria, North Korea, Syria, and Yemen are not allowed to buy real estate in Turkey.
Locations Where Foreign Nationalities Cannot Own Real Estate
Foreign nationals and foreign commercial companies cannot buy property in the military, strategic and security zones of Turkey. Some other areas of Turkey are the subject of preservation orders (such as nature reserves, sites of historical interest or mining areas) and are unavailable to foreign purchasers.
During 2012 the total amount of land in Turkey that can be owned by a foreign national was increased from 25,000 sq.m. to 30,000 sq.m. The Council of Ministers can increase this threshold further in individual cases.