FAQ

Ownership

It takes around 2-5 working days once you apply.

The title deed registration will be after all the payments are completed. In case of the project is not delivered yet, you will get your title deed, upon completion of the project.

Yes, foreigners can buy properties in Turkey.

There is a limit of hectares, which is 30 hectares per person

Yes, you can, once you have a company in Turkey. We can help you with all required papers.

The freehold title deed means that you have ownership’s rights on that property, which you can sell, rent, and inherit from one of your family’s members at any time.

Residency and Citizenship

  1. You can buy one or more real estate to achieve the 250,000 USD requirement.
  2. You can buy any kind of real estate (house, apartment, office, store or land) in any province of Turkey.
  3. You should get an official appraisal for each property.
  4. Each of the property should be bought after September 19, 2018. For the property bought before this time, 1,000,000 USD limit applies.
  5. You should sign a statement that you won’t sell the property for 3 years at the Property Registry Office.

Yes. You, your spouse (wife or husband) and dependents (your children under the age of 18, on the application date) can get citizenship. Turkish law does not recognize same-sex marriages, polygamy and other types of partnerships. So, a spouse should be a person of opposite sex and the couple should be legally married. If a male applicant has multiple wives, only one of them is eligible for Turkish citizenship.

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.

After the property is bought and the application is filed, it takes between 3 to 6 months to get the citizenship and Turkish passport. Government is eager to reduce time.

Yes, any property you buy is counted. You can rent the properties to someone else. The only restriction is you cannot sell for three years.

No, its not obligatory to send money by USD and it does not have to be sent from abroad.

The purchase price of real estate between the buyer and the seller must be paid through banks and should be provable by receipt of bank.

It is not possible to sell without completing its 3rd year. After 3rd year owner will be able to sell his/her property.

Return on Investment (ROI)

Yes, of course, they can. Initially, Turkey’s economy has significant growth and it is increasing over time, especially, Istanbul which has the entire factors to invest and live in, including but not limited to; inherent history, rich culture, vibrant social life, as well as, the unique location surrounded by two continents and end up with effective shopping.

Istanbul is considered an attractive place for millions of people from all over the world, whether their desire is tourism or living. Accordingly, based on its countless benefits, Istanbul is a vital place to invest in, offering not only a stable income but also increasing profits.

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.

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.

We have rounded up some specific standards. Therefore, keep those standards in mind;

  • Properties that are located in a vital region close to transport links such as metro and highway, etc. and shopping malls are considered essential for investment.
  • You shall target the compounds, as it’s preferable to live in a place that provides amenities, conditions, and a high-quality lifestyle.
  • Small properties should be free of extra costs including maintenance fees or heating bills.
  • It’s preferable to invest in a new project that’s still under construction, as the cost of the property will be affordable. Indeed, the developers always increase the prices of properties once the project is done, or reached a certain level of sales.
  • You might consider a reference about the history of the project and the developer.

Your decision of choosing an individual property for investment should be precisely taken. You must take into consideration that the lifestyle in Istanbul is more compact and practical, so that; a small property with one or two bedrooms is sufficient for you if you are a couple or a small family with one child; because as the bigger the size of the property is, the higher the fees you pay or higher price you will pay for purchasing. However, if you have a bigger family or you would like to live in a large house, then you should look for apartment with 3 or 4 bedrooms, depending on the number of your family members. Moreover, if you are one of those who would love to live a prestige life, then your choice could be villas or luxurious houses.

Purchase Cost

  • Generally the VAT cost: it varies from 1% to 18%, according to the property. Most of the VAT cost is 1% unless the property size is more than 150 m2, then VAT cost will be 18%. However, in Feb /2017, the parliament has approved a law which introduces an exemption of 18 percent of value-added tax (VAT) for foreigners in which they will not pay VAT for their first properties in Turkey if their acquisition payment is in foreign currency, as well as, they should not sell their properties for at least one year after purchasing.
  • Purchase tax: it is a fixed percent 4%. Occasionally, the developers pay 2% and the client 2%.
  • The utility connection and habitation license cost: it’s about 2000 TL.

You will pay only the maintenance fee, which is about $1. You will also pay the utility connection charges about $400.

You will pay a small amount of tax 0.01% of the price, which is for contract stamp duty and the annual property tax.

Process

Nevita is a Turkey-based real estate investment company that owns, develops, and manages multi-properties. We have a vast experience exceeded 25 years in this field within the domestic market. We are a very well-established real estate company in Turkey and we have professional leaders who have strong relationships in this market, not mention our great reputation which we have earned over years of experiences in the real estate investment. Our work and reputation are the proof you need.

Yes, it is. You need a tax number to purchase a house. You also need a copy of your passport and a certified home contract, and we will help you and provide you with what you need.

You can open a bank account in Turkey with only 5 steps.

https://www.youtube.com/watch?v=h1qCEyI-z7A

Yes, there are some banks provide loan for foreigners. We will assist you to find the proper bank.

Unfortunately, you have to wait until getting the title deed.

Here at Nevita, we will help you with the whole procedures effectively and only within a day.

Here at Nevita, we only deal with reliable developers who has a high and well-known credibility in the market. Usually banks offer loans only for those who have a high credibility in which they can take responsibility for their investment decisions, so if the developers don’t offer enough guarantee to banks, they can’t provide off plan mortgages to their clients, according to real estate law.

If the developers can’t finish the project on the date, then they have to pay you monthly penalties, or they can give you all your deposits and payments back.

Yes, within seven days the deposit is refundable, even if you pay the down payments and sign the contract.

It is preferable to come to see your property and take your decision. However, all that you need is to go to the Turkish Embassy and send a Power of Attorney to our company. In order to do the entire procedures on behalf of you.

Maintenance

The maintenance fees will be about 2-3 Turkish lira per square meter. It is for security, elevator, Gym, swimming pool, cleaning, and so on.

No, you will not. The tenant shall pay entire maintenance fees.

The company will manage the internal design and hold the furnisher management in some projects, not all. It is according to each project.

It depends on the quality of the furniture.