The Most Favorite Asked Questions
Several wonders about to come on a mind, once consider buying a property in Turkey, as, you may asking about the citizenship, the property cost, purchase process, and so on.
However, making you aware is deemed our main priority, so here we have rounded up all the questions might consider about, to guide you and expand your knowledge, so bear in mind.
- Is it possible to have dual nationality in Turkey?
Yes, Turkey allows dual nationality, as long as your original country allows it. If you are a citizen of a country, which does not allow dual citizenship, you need to forfeit your original citizenship. However, if your original country allows dual citizenship, you can have dual citizenship.
- Will my mother and father obtain citizenship in Turkey with my application? What about my children above 18 years old?
Yes, Turkey allows dual nationality, as long as your original country allows it. If you are a citizen of a country which does not allow dual citizenship, you need to forfeit your original citizenship. But if your original country allows dual citizenship, you can have dual citizenship.
- Which nationalities may apply for Turkish passport?
All foreigners who are allowed to buy property in Turkey by Turkish law may apply for Turkish citizenship by investment.
- If the property I buy is not worth 250,000 USD, can I buy several properties to fulfil the 250,000 USD limit?
You can buy several properties which have a total value of at least 250.000 USD. The values declared at the sale at Property Registry Office and appraisal values should be consistent with that value. If the transaction is made in Turkish lira or other currency, daily currency rate of the Turkish Central Bank at the date of title transfer will be used to calculate the USD value of the property or properties.
- As a Foreigner, Can I buy properties in Turkey?
Yes, foreigners can buy properties in Turkey. In case you’re Syrian, you can once you have a company in Turkey. We can help you with all required papers.
- What is the average of return on investment (ROI) in Turkey?
The average of return on investment is highly increasing over time. On average, properties’ prices have raised 15% in the last five years. Considering the future prospects, the ROI might accomplish much higher rates. As Istanbul is known as the economic capital of Turkey, real estate investments there are more profitable than those in other cities. Furthermore, in Istanbul itself, there are some high prestige districts whose property investments are characterized by higher ROI than other districts. For instant, Başakşehir is one of the highest district in terms of ROI which was about 29% in 2016.
- As an investor, which places in Turkey are the best for investment?
There are two sides of Istanbul; the European side and the Asian side. To be clear, the European side is considered better than the Asian side, owing to the majority of the population, the historic places, most of the best universities, and the most of business and commercial life are concentrated in the European side of Istanbul. Moreover, the Golden Horn, which is called in Turkish “Haliç” shaped on the European side, and considered the major urban waterway and the primary inlet of the Bosphorus in Istanbul. It is not far away from the golden horn, there are two important districts called Gaziosmanpaşa and Kağıthane. Gaziosmanpaşa is located on the European side with a population 400,000 and mixture of people belongs to different ethnics and religions. While Kağıthane is also located on the European side and considered one of the largest regeneration and real estate development districts in Istanbul. In the same context, Başakşehir as a city planned in luxury standards, in addition to its unique location, which is close to the most important facilities such as, Istanbul airport, Ataturk airport, the biggest city Hospital and public transportation, becomes one of the most promising regions in Istanbul.
- Will I pay any Taxes after I buy the property?
You will pay a small amount of tax 0.01% of the price, which is for contract stamp duty and the annual property tax.
- How long does it take to receive the title deed?
It takes around 2-5 working days once you apply.
Ultimately, it’s time to take a clear decision for your upcoming property; the above answers must be fulfilled at least, so your research will be much easier to meet your needs. Additionally, you are welcome any time to have an assist from our real estate Consultants.