Turkey Property Purchase: Key Considerations for Foreign Investors
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Turkey’s real estate market attracts foreigners with affordable prices, residency options (via $400K+ investments), and diverse offerings—from Istanbul apartments to Mediterranean villas. Popular areas include Antalya, Bodrum, and Istanbul’s business districts. Foreign buyers can own freehold properties, except in military zones, after obtaining a military clearance and verifying the title deed (TAPU).
Key challenges include currency fluctuations (transactions in TRY), annual property taxes (0.1–0.6% of value), and VAT for new builds. Due diligence is critical: check for liens, zoning laws, and utility debts.
Agencies such as Yektahomes assist with legal checks, though independent legal review is advisable. Research regional demand and long-term market trends.