Who Cannot Buy Property in Turkey?

Our answers to the question of who cannot buy property in Turkey will also contribute to your home-buying process. The Republic of Turkey also has laws that allow foreign nationals to buy houses for investment or residence. Thanks to these laws, citizens of every country can own a house within the borders of Turkey.

The question of who cannot buy property in Turkey is vital in complying with some rules in the process of buying a house. Foreign nationals who want to buy a house in Turkey are expected to meet specific criteria. In this guide, we wanted to share with you the most up-to-date and valuable answers to the question of who cannot buy property in Turkey.

Is There Property Tax in Turkey?

It is possible to give a positive answer to the question of whether is there property tax in Turkey. Domestic and foreign nationals who own a house in Turkey must pay a particular tax. The amount of property tax to be paid is determined by the house's value.

Another detail you need to know about property tax is the type of compulsory tax. People who want to own a house in Turkey must first pay a one-time title deed tax. The one-time tax paid for the title deed is also calculated based on the house's value. In addition, a permanent property tax must be paid in May and November every year.

It is also possible to answer the question of who cannot buy property in Turkey through property tax. For example, if local or foreign nationals refuse to pay property tax, this will create a problem under the law. It is an obligatory criterion to pay the property tax regularly every year.

Do I Have to Pay Taxes on a House I Buy in Turkey and Do Not Live in?

While looking at the who cannot buy property in Turkey question, we wanted to look at other details related to this issue. Foreign nationals can buy a house in Turkey for investment purposes. In other words, there is no obligation to reside in the purchased house. For example, you can spend the summer in Turkey by buying a house in the Mediterranean region, one of the most beautiful regions of Turkey. In the winter season, you can return to your home country.

The most critical detail is that the tax on the purchased house is paid regularly. Even if you do not live in the house you bought, you have to pay the annual tax on the house. In addition, it is obligatory to pay the title tax, which must be paid first when buying a house.

Why Are House Price Cheap in Turkey?

House prices in Turkey are very affordable for the citizens of many countries. Especially in recent years, many foreign nationals preferred to buy a house in Turkey for investment and residence purposes. Turkey has always been a country that has succeeded in taking its place in the world lists in the real estate sector. Therefore, the increase in real estate prices has made Turkey's prices more budget-friendly.

In addition to the information we have given above, it is possible to talk about fluctuations in exchange rates. The changes in exchange rates ensured that shopping made in dollars and euros was affordable. In this way, a European citizen has become very comfortable buying a house in Turkey.

Turkey is always the first choice of foreign nationals who want to buy a house. This is not just because house prices are low. Living the four seasons fully, Turkey is a paradise country. Moreover, many historical ruins in Turkey have hosted many civilizations. These situations affect people who want to buy a house in Turkey.