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Mortgage for Foreigners

After several years pause, mortgages in for foreigners in Türkiye is possible again!
If the full amount for property purchase under a residence permit or passport is not available, we have a solution!

Stay Property offers assistance in selecting properties and arranging mortgages for our foreigner clients.

Key Information

  • Loan currency: USD or EUR

  • Maximum loan term: 10 years

  • Monthly interest rate: 0.73–0.85%, depending on the loan term

Mortgage Conditions*

  • Loans can be issued for properties that are either fully completed or 90% completed.

  • Loan amount: Up to 50% of the appraised property value (for buyers who do not already own property in Turkey).

  • If the borrower or his family members (spouse and children under 18) own property in Turkey, the loan amount will be lower.

  • The borrower's age at the time of full repayment must not exceed 71 years.

Required Documents

  • 1

    Foreign passport.

  • 2

    Salary statement for the last three months, notarized and translated into Turkish.

  • 3

    Proof of residential address in the country of residence (e.g., utility bill, registration page of a national passport, etc.), translated into Turkish.

  • 4

    Turkish Tax Identification Number (TIN).

  • 5

    Copy of the ownership certificate for the property being purchased.

  • 6

    Turkish phone number (for SMS notifications from the bank).

If the borrower is married, the following additional documents are required:

  • Passport of the spouse and children under 18.

  • Marriage certificate, translated into Turkish.

  • Family composition certificate, translated into Turkish.

  • Salary statement of the spouse for the last three months, notarized and translated into Turkish.

  • Written consent from the spouse (personal presence required).

Additional Requirements also include annual insurance policies (property insurance, accident insurance, earthquake insurance). Approximate renewal cost: €750 per year.

A commission fee is also paid for processing the loan, imposing an encumbrance and an expert assessment of the property being purchased. Approximate amount is 1250 Euro + 0.5% of the loan amount.

Mortgage Application Process

  1. Select a property and open a bank account.

  2. Gather documents and submit the application.

  3. Bank approval and property appraisal.

  4. Agree to mortgage terms offered by the bank.

  5. Sign the loan agreement and finalize the purchase.

  6. Register ownership with the Land Registry Office and arrange insurance policies.

* Note: This information is for reference only and is not a public offer.

Property Prices in Turkey for Mortgages

Options start from a minimum of €80,000 for modern 1+1 apartments in the suburbs of Alanya, or €120,000 within Alanya itself. Prices in Istanbul are significantly higher. New-build homes are always delivered with a finished renovation.

For those planning to obtain a residence permit, the cadastral value of the apartment must be at least $200,000, and the district must be open for residence permits. More details are available in consultations with our specialists.

For citizenship through property purchase, the total cadastral value must be at least $400,000.

Contact a manager online now to take advantage of this opportunity, despite the high volume of applications in Istanbul and Alanya banks. A consultant will respond to you online via the website or contact us at the provided phone numbers.

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