Buying a property in Turkey with foreign currencies

In this article from Ebla Real Estate.. We will talk about if it is possible to buy a property in Turkey with foreign currencies.

Table of Contents

Buying a property in Turkey with foreign currencies:

Previously, the customer and the foreign investor could buy a property in Turkey with foreign currencies. This law continued in effect until the beginning of 2022.

New law regarding buying real estate in Turkey with foreign currencies:

A new decision was issued on 6/1/2022 under Article 13:

It stipulates the need to sell the foreign currency in which you want to buy real estate in Turkey to the Central Bank of Turkey and exchange it for Turkish lira through an intermediary bank.

Then transfer the value of the property in the local currency to the seller through the same intermediary bank. It is worth noting that you should submit the transfer receipts at the Real Estate Registry Directorate to get the title deed.

Foreign currency purchase document:

It is a foreign exchange document confirming the sale of foreign currency to a bank operating in Turkey to be sold to the central bank before the ownership of the property is transferred from the seller’s name to the buyer’s name.

Does the new decision affect the purchase of real estate in Türkiye?

There is no negative effect on the purchase of real estate in Türkiye for foreigners who want to buy real estate in Turkey with foreign currencies.

On the contrary, they can get benefits. As the exchange process takes place within a governmental legal framework through the Central Bank.