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Foreign nationals may purchase real estate in Turkey provided there is mutual reciprocity between the two countries. In other words, if a Turkish national is permitted to purchase property in your country of origin, then you are allowed to purchase property in Turkey.

Foreign nationals were limited to purchasing property within the boundaries of major municipalities prior to 2003. Subsequently the law was amended and foreigners are now permitted to purchase property outside of these areas. However, foreign nationals may NOT purchase property within village boundaries or within designated military zones. Land or farms larger than 74 acres located outside of village boundaries may be foreign-owned, but special permission from the Turkish Government is required.

Property owners (even foreigners) are allowed by law to rent their property to others. When a property is sold, the proceeds can be moved out of the country without penalty after real estate transfer taxes are paid. Property taxes are paid annually, and residential property is re-assessed yearly for tax purposes.

Business and investment property are subject to different regulations than residential property. For details on these regulations please contact the nearest Turkish Consulate.