Can a foreigner own more than one property in Türkiye?
Turkey, with its rich history, vibrant culture, and diverse landscapes, has become an attractive destination for foreigners seeking to invest in real estate. Many foreign investors wonder if they can own more than one property in Türkiy. And that is what we will talk about in this article from Ebla Real Estate.
Foreign ownership of real estate in Türkiye:
The principle of reciprocity with regard to foreign ownership of real estate in Turkey has been abolished. Thus, foreigners have the right to own any type of real estate under some conditions except for five nationalities.
Over the years, the government has implemented various initiatives and eased restrictions to encourage foreign investors to own property in Turkey. This open and friendly environment has attracted individuals, families, and businesses from across the globe to invest in Turkey’.
Can a Foreigner Own More Than One Property in Türkiye?
One of the attractive aspects of investing in Turkey’s real estate is that foreigners are allowed to own more than one property. The Turkish government has adopted an inclusive approach.. Allowing foreign nationals to invest in multiple properties, be it residential, commercial, or land.
It is worth noting that if the foreigner has the desire to buy more than one property in Turkey and apply for citizenship.. He has the right to do so, provided that the total value of those properties is $400.000 dollars or more.
Conditions for Foreign Ownership of Real Estate in Türkiye:
While Turkey welcomes foreign investment in its property market, certain conditions and regulations govern the ownership of real estate by non-Turkish citizens. The key conditions for foreign ownership of real estate in Turkey are as follows:
- The area of real estate in Turkey that a foreigner owns should not exceed 30 hectares.
- Moreover, real estate in Turkey that foreigners own must not exceed an area of 10% of the total area of the administrative region.
- Furthermore, the foreigner should obtain the security and military approva..
- The area should not be restricted to foreigners.
- Extracting a foreign currency purchase document after exchanging foreign currency in the Central Bank of Turkey.
It is worth noting that Ebla Real Estate Company provides all services to the valued clients. Moreover, we offer our customers the best offers and the most suitable opportunities in the most Prestigious areas of Bursa.
Edited by: Ebla Group Real Estate
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