Chat with us, powered by LiveChat

The Facts about Property Ownership in Turkey

The Facts about Property Ownership in Turkey

Is the Ownership of the Property Infinite?

Yes, under Turkish jurisdiction real estate ownership is for an indefinite time period. Contrary to some jurisdictions like UK or UAE, property right of real and legal person is for indefinite term.

Furthermore, once a foreigner acquires a real estate title, they have no difference compared to other citizens whose origins are Turkish. This assurance is provided under the Law of Foreign Direct Investment numbered 4875 and Law of Property numbered 2644.

Notwithstanding above, there are some legal rights that are subject to a certain time period. For instance, one can prefer to acquire an easement right for some 30- or 45-years period. Yet, easement right is not a property right but gives you only right of building and using such building including but not limited to leasing it out or transferring such right.

What Is “The Rule of Reciprocity”?

However, one should be careful before going into engagement for any real estate property. Because as per Section 35 of the Property Law numbered 2644, citizens of foreign countries may acquire real estate ownership unless the same applies in their country for Turkish Citizens. This is called rule of reciprocity. For instance, Syrian or Bulgarian Citizens are not allowed to acquire real estate property in Turkey, because Turkish Citizens are not allowed in such countries for the same.

Although foreigners’ real estate acquisitions are categorically free, because of some specialties some of which are mentioned above, they are strongly advised to receive legal advice from a lawyer before making any agreement.