How Do US Citizens Buy Real Estate In Turkey?

US citizens often buy real estate in Turkey. The purchase procedure is standard and happens quickly. They can buy a property under construction or already built. Stay Property company is ready to offer many options in the most popular Turkish cities. This is a reliable developer that has been working for many years.

Reasons For A Foreigner To Buy Real Estate In Turkey

There are several reasons to do this:

1. Feature to get citizenship. Turkey offers it by investment program. It’s necessary to purchase an object for 400,000 euros only according to the cadastral value to get Turkish citizenship.

2. Residency permit. Foreigners who purchase Turkish property can qualify for a residency permit, allowing them to live in the country.

3. Affordable property prices in compliance with other European countries.

4. Many tourists. In this case, it will be easy to rent a house for getting the additional income every month. Moreover, you can rent a house to the national citizen for a long period of time.

5. Stable economy. Turkey has a stable and growing economy, providing a secure environment for real estate investment.

6. Beautiful landscapes and climate make Turkey an appealing location for vacation homes or retirement properties.

7. Easy process for foreign buyers. It is necessary to make some actions in the correct sequence to become an owner of the real estate.

It makes citizens of the USA buy Turkish property.

How Can US Citizens Buy a Property in Turkey?

Below is the algorithm for making a deal:

1. Choosing the object. Choose the budget, identify your wishes, type of property, its location and other nuances that are important to you.

2. Conclusion of a preliminary agreement. The contract specifies the cost of the apartment, the payment procedure, and the terms of the transaction.

3. Payment for TAPU registration. You will need to pay for a TAPU - Turkish certificate of ownership. TAPU is issued in the land administration (Tapu Tahsildari) and confirms your ownership of the apartment. You can get a mortgage in a Turkish bank at the stage.

4. The contract signing and making the transaction.

5. Registration of the contract with the land administration for getting TAPU.

6. Payment of taxes and fees.

7. Real estate insurance. It is recommended to take out real estate insurance to protect yourself from possible risks. DASK insurance is obligatory in Turkey and it is the chance to receive payment from an insurance company in case of destruction of your property as a result of an earthquake.

It is recommended to contact a lawyer or a real estate agency so that the transaction is executed correctly. There is not necessarily personal presence. You can issue a power of attorney so that the lawyer himself signs the contract.

Can a US Citizen Live In Turkey?

Americans can live in Turkey in accordance with the requirements of current legislation. After buying the property, the investor receives a residence permit. It increases the period of legal stay in Turkey. There are no restrictions on the time spent in the country if you have a citizenship. It’s easy to get while buying an object for 400,000 euros.

Note. It is not necessary to buy one object in the amount of 400,000 euros. You can buy several objects to get Turkish citizenship.

How Many US Citizens Live In Turkey?

According to the data, there are over 1.2 billion of foreigners in Turkey in 2023. Most of them are:

• Russians;

• Turkmenistan;

• Iraq;

• Iran.

There is no official data about the number of Americans in the country but they are definitely fewer than 10,000 people.

Why To Invest In Turkey

Below you will find several advantages of purchasing an object in Turkey:

1. Investing in Turkish real estate can provide US investors with a new way to earn money. It’s rather easy to find the property in compliance with investors’ demands and financial features.

2. Potential for high returns because the property price is increasing really fast and objects are easy to sell if it is necessary.

3. Access to a growing market. Turkey's stable market is very interesting for American investors. They are ready to buy commercial and living buildings.

4. Citizenship and residency. US investors have the opportunity to obtain Turkish citizenship or residency permits while buying property in Turkey.

5. Lifestyle benefits. Investments in Turkish property can also provide US investors with the opportunity to enjoy the country's beautiful landscapes, pleasant climate, and rich cultural experiences.

6. Easy process for foreign buyers. The simplified process for foreign buyers in Turkey makes it easier for US investors to navigate the real estate market and make investments in the country.

7. Potential for rental income. US investors can benefit from the strong rental market in Turkey, potentially earning a steady rental income from their investment properties.

So, Americans have many reasons to purchase Turkish real estate that’s why some investors really do it. Moreover, they can use dollars to make a deal without the necessity to purchase another national currency.