Turkey’s real estate market continues to attract global investors, thanks to its strategic location, affordable prices, and lucrative citizenship-by-investment program. 

However, recent regulatory changes have introduced new requirements for both foreign and local buyers. Whether you’re looking for a holiday home, a long-term investment, or a pathway to Turkish residency, understanding the latest property laws is essential to avoid legal hurdles and ensure a smooth purchase process.

In 2024, the Turkish government updated key regulations, including increased investment thresholds for citizenship, stricter military clearance checks, and mandatory property valuation reports. These changes aim to stabilize the market while maintaining its appeal to international investors. This guide breaks down everything you need to know about the new rules, helping you navigate the process with confidence.

Planning to buy property in Turkey? Stay informed to make the best investment decisions under the latest legal framework.

Key Changes in Turkey’s Property Laws (2023-2024 Updates)

Key changes in Turkey’s property laws during 2023-2024 mainly focus on property valuation requirements for residency and citizenship, new real estate transaction procedures, restrictions in specific districts, and updated regulations on real estate rental for tourism purposes. Here are the highlights:

1. Increase in Property Value Requirements:

• As of October 16, 2023, the minimum property market value required to obtain a residence permit by investment across Turkey was set at $200,000.
• For citizenship through real estate investment, the minimum property value requirement was raised from $250,000 to $400,000 as of April 12, 2023. The property must remain in the investor’s name for at least 3 years.

2. New Procedure for Purchase and Sale:

• From July 4, 2023, an amendment to the Notaries Law allows notaries to make and register contracts for the purchase and sale of real estate, relieving the previous requirement for both the purchaser and seller must be physically present at the Land Registry Office to complete the property transfer

3. Restrictions on Residency Permits by Location:

• Properties purchased in the Fatih and Esenyurt districts of Istanbul no longer qualify for Turkish residency permits due to high foreign resident percentages (over 25%).
• Renting property in these districts is now prohibited for obtaining residency, except for students who can reside and apply for student residency permits there.

4. Real Estate Residency Conditions (2024):

• Foreign investors can secure Turkish residency by buying property, provided the purchase meets the minimum investment requirement of $200,000.
• Additional requirements include possession of a real estate title deed (Tapu), earthquake and disaster insurance (DASK), valid passport, family statement certified by a notary, and health insurance for all family members.

5. Real Estate Taxes and Registration Fees:

• In 2024, there was a reduction of the registration fees by 50%.
• The exemption period from real estate taxes for foreign investors was extended from 5 to 10 years.
• Taxes include 18% VAT on real estate sales, 0.2% property tax annually, and a 4% transfer fee when buying or selling.

6. New Tourism Rental Laws (Effective 2024):

• Landlords must obtain licenses for short-term property rentals for tourism purposes.
• Renting without a license incurs fines starting from 100,000 Turkish Lira, escalating with continued non-compliance.
• License issuance requires application to the Ministry of Culture and Tourism and owner consent for apartment buildings.

7. General Rules and Other Details:

• According to Turkish property regulations, the cumulative land area that foreigners can purchase is capped at 30 hectares per individual or entity.
• Properties in military or security zones are restricted.
• Residence permits linked to property purchases require buying from Turkish citizens.
• Contract signings must be made at official real estate consultancy offices.

These legal updates reflect Turkey’s efforts to regulate foreign property ownership, streamline real estate transactions, and ensure compliance with residency and citizenship pathways tied to real estate investments.

Steps to Buy Property in Turkey Under New Rules

Here are the steps to buy property in Turkey under the new rules (2023-2024 updates):

Preliminary Checks

• Confirm your nationality and you are allowed to purchase property in Turkey.
• Ensure the property is not in a military or restricted security zone.
• Check the legal status of the property through the Land Registry for no debts, mortgages, or disputes.

Obtain a Turkish Tax Number

Apply at a local tax office or online with a passport. Turkish property regulations enforce this rule for all monetary transactions involving real estate.

Open a Turkish Bank Account

Required to handle currency exchange and payments. Don’t forget to bring three key documents: your current passport, assigned tax number, and official proof of residence.

Find and Inspect Property

• Conduct thorough research and work with a reputable local agent.
• Visit potential properties and select one that meets your requirements and residency or citizenship goals.

Make an Offer and Sign the Sales Contract

• Negotiate terms and sign a sales contract at an official real estate consultancy or notary office as required by the new law.
• Deposit typically 10-20% of the purchase price.

Currency Exchange and Documentation

• Complete your property purchase by first transferring funds to a Turkish bank account, then converting them to the local currency (TRY).
• Obtain the Foreign Exchange Declaration proving funds are from abroad, necessary for residency applications.

Property Valuation

Commission an official appraisal as per new regulations; it sets the minimum sale price for tax purposes and residency eligibility.

Military Clearance

Apply to get military approval confirming the property is not in a restricted zone. This can take from a few days to several weeks.

Complete the Purchase and Transfer Title Deed (Tapu)

• Pay the remaining balance and taxes/fees.
• Both buyer and seller (or representatives with power of attorney) meet at the Land Registry Office for title transfer.
• Receive the title deed paperwork in Turkish and your language.

Additional Documentation for Residency

Provide valid passport, real estate title deed, earthquake insurance (DASK), health insurance, and biometric photos when applying for residency linked to property.

Register Utilities and Property Management

• Transfer utilities (water, electricity, etc.) to your name.
• Consider insurance and property management as needed.

Important Notes:

• Properties in Istanbul’s Fatih and Esenyurt districts no longer qualify for residency through purchase due to high foreign resident percentages.

• Foreign investors can obtain residency by purchasing property valued at $200,000 or more according to government-approved valuation records.

• Minimum property value for citizenship eligibility via real estate investment is $400,000, with the property held for at least three years.

• Purchase contracts must be signed at official notary or real estate consultancy offices.

• Foreign buyers can purchase up to 30 hectares, and properties in restricted zones are prohibited.

• Renting property for residency purposes in some districts is prohibited.

Following these steps carefully ensures compliance with Turkey’s new property laws and smooth acquisition of property with potential residency or citizenship benefits.

New Taxes & Fees for Property Buyers

Here are the new taxes and fees for property buyers in Turkey as of 2023-2024 updates:

1. Title Deed Transfer Tax (Tapu Harcı)
   • 4% of the property’s declared sale price.
   • Usually split between buyer and seller, but buyers often pay the full amount.
   • Paid at the Land Registry office before title deed transfer.
2. Value Added Tax (VAT)
   • Ranges from 1% to 18% depending on property size and type.
   • Applies mainly on first-time sales by developers (new constructions).
   • Foreign buyers may be exempt from VAT on their first purchase if certain conditions are met (e.g., payment in foreign currency, property larger than 149 sqm).
3. Stamp Duty
   • Ranges from 0.1% to 0.6% of the declared property value.
   • Paid on signing the purchase-sale contract.
4. State Fee for Issuing TAPU (Title Deed)
   • $45 for Turkish citizens and residents.
   • $130 for non-residents.
5. Annual Property Tax (Emlak Vergisi)
   • 0.1% to 0.3% of assessed property value for residential properties, higher rates for commercial properties and land.
   • Higher rates in metropolitan areas: e.g., 0.2% for residential, 0.4% for commercial, 0.6% for land.
   • Due in two installments annually.
6. Döner Sermaye (Administration Fee)
   • An additional administrative fee around 935 Turkish Lira.
7. Compulsory Earthquake Insurance (DASK)
   • Mandatory for all residential properties before registration.
   • Cost depends on property size and location.
8. Real Estate Agent Commissions (Optional)
   • The buyer is responsible for payment of transfer taxes, which generally amount to approximately 3% of the property’s assessed value.
9. Legal and Translator Fees (Optional)
   • Fees for legal services and certified translators if needed.
10. Rental Income Tax (if applicable)
    • Progressive tax rates apply to rental income from properties.
    • Exemptions and deductions available for foreign investors.

These fees and taxes reflect Turkey’s updated legal framework for real estate transactions aiming for transparency and fair taxation. Foreign buyers should factor in these costs beyond the purchase price to budget accurately.

Related Content: Can I buy property in Turkey?

New Rules for Buying Property in Turkey Impact on Foreign Buyers

The recent changes in Turkey’s property laws have several notable impacts on foreign buyers:

Higher Investment Thresholds

The minimum property value required to obtain a residence permit through property investment has increased to $200,000 uniformly across all Turkish cities.

A significant update to the citizenship program mandates that investors must now buy property worth at least $400,000 and are legally prohibited from selling it for a minimum of three years to receive a Turkish passport.

These higher thresholds may deter buyers with limited budgets from investing, especially in smaller cities or rural areas where property prices are lower.

Simplification of Procedures

The elimination of the need for a separate property valuation report streamlines the purchase process for foreign buyers, reducing bureaucracy and potentially speeding up transactions.

Geographic Restrictions for Residency

Some areas with high percentages of foreign residents, like the Fatih and Esenyurt districts of Istanbul, no longer qualify for obtaining residency permits through property purchase, limiting options in these popular neighborhoods.

Increased Government Incentives

Despite stricter valuation requirements, Turkey continues to offer attractive incentives for foreign investors.

The Citizenship by Investment program remains a significant draw, encouraging foreign buyers to invest in luxury and high-value properties.

Recent tax reforms include lower property taxes and exemptions on VAT for purchases made with foreign currency, making Turkey attractive compared to other markets.

Rising Demand and Market Growth

Foreign investment in Turkish real estate surged in 2023 and 2024, with Istanbul, Antalya, and Ankara as major hubs. This demonstrates strong continued interest and confidence from international buyers despite regulatory tightening.

New incentives and reduced taxes are expected to sustain demand and support growth in the luxury and residential segments.

Equal Ownership Rights but Some Restrictions

Foreigners have nearly the same property ownership rights as Turkish citizens, though some nationality-based restrictions and limits on land size (up to 30 hectares) exist.

Properties near military zones or restricted areas remain off-limits.

Currency Advantage

Foreign buyers using strong currencies find Turkish property increasingly affordable due to the Lira’s depreciation, fueling a rise in international demand.

Foreign buyers face higher financial entry barriers but benefit from simplified rules, strong incentives, and a growing real estate market, particularly in key urban areas. The new laws aim to attract higher-value investments while regulating residency qualifications and protecting strategic zones.

Common Pitfalls & How to Avoid Them

Common pitfalls when buying property in Turkey under the new rules, along with tips to avoid them, 

Here’s a table summarizing the common pitfalls when buying property in Turkey and how to avoid them:

Common Pitfall	How to Avoid
Ignoring Legal and Title Deed Issues	Verify title deed (Tapu) through Land Registry; use a qualified local real estate lawyer for due diligence.
Purchasing Properties Without Proper Documentation	Confirm all building permits and zoning compliance; avoid properties without occupancy certificates or in informal settlements.
Overlooking Urban Planning Changes	Investigate current and future zoning/urban plans to assess impact on property value and development rights.
Failing to Recognize Urban Transformation Zones	Check if property is in an urban renewal zone and understand compulsory purchase or redevelopment implications.
Not Conducting Market Research	Research neighborhood trends, demand, infrastructure, and price benchmarks to avoid overpaying or poor location choices.
Dealing with Unreliable Agents or Sellers	Use licensed, reputable real estate agencies; verify credentials; avoid large advance payments without legal checks.
Underestimating Additional Costs	Budget for taxes, fees, insurance, legal fees, and other transactional costs upfront.
Ignoring Currency Fluctuations	Monitor exchange rates and time currency conversion carefully for better financial planning.
Skipping Professional Legal Counsel	Hire specialized lawyers familiar with Turkish real estate and foreign buyer regulations.
Not Seeing the Property Before Purchase	Inspect properties in person or through trusted reps; request verified inspections to avoid surprises.

This table provides a clear overview of key risks and practical actions to ensure a safer and more informed property purchase in Turkey

Conclusion: Navigating Turkey’s New Property Landscape with Confidence

Turkey’s property market continues to be a vibrant and highly promising landscape for both investors and prospective homeowners. However, as we’ve outlined, the recent regulatory changes—from the increased investment threshold for citizenship to stricter military checks and mandatory valuation reports—highlight the importance of being well-informed and prepared.

Understanding these new rules is not just about compliance; it’s about unlocking opportunity. By familiarizing yourself with the updated steps, taxes, and legal requirements, you can avoid common pitfalls and make a secure, profitable investment in one of the region’s most vibrant markets.

Whether you’re seeking a holiday home, a rental property, or a path to Turkish residency, success now hinges on careful planning and expert guidance. Before you make a move, always consult with a certified legal advisor or reputable real estate agent to ensure your investment journey is both smooth and successful.

Prepared to navigate the new regulations and secure your ideal home in Turkey? Contact our expert team today for personalized guidance and insider insights!