The most important questions about investing in Istanbul

Many major cities and capitals in the world offer various opportunities for investment and real estate ownership, but real estate in Istanbul has many distinct features, including:

• Istanbul’s infrastructure is a strong and advanced structure built to keep pace with the latest construction and investment projects.
• The low price of real estate in Istanbul compared to other major capitals, which is suitable for different types of budgets.
• Istanbul is witnessing the establishment of a series of important development projects, such as the Canal Istanbul Project, which represents Turkey’s vision for the future by making it one of the ten most economically powerful countries.
• Obtaining Turkish citizenship by purchasing a property, as the holder of a Turkish passport allows them to enter more than 120 countries without a visa or with an entry visa only.

Purchasing real estate in Turkey is a right granted by the Turkish Parliament to foreigners since 1934, based on Law No. 35 of the land registration law, and it was restricted by many conditions, most notably the reciprocity rule.

In 2012, specifically in the middle of the fifth month, important amendments were issued to this law, the most important of which was the cancellation of the reciprocity rule while keeping only some countries, including: Syria, Cyprus, Armenia, Cuba, and North Korea.

The conditions imposed following these amendments are:

• Foreigners can own real estate in Turkey equal to a maximum of 30 hectares.
• Foreigners cannot own real estate next to military sites.
• A foreigner can buy real estate in a given area, up to a maximum of 10% of it.

It is a card granted by the branches of the Presidency of Migration Management and Foreigners Affairs in Turkish cities and regions, and real estate residency in Turkey allows its holder to enjoy all the rights of education, medicine, and to live in Turkey legally, and real estate residency in Turkey is a limited-term residency that can be renewed.

As for the conditions for obtaining the residency are:

• Owning real estate within Turkish territory in any city or state.
• The price of the real estate must be a minimum of $75,000 in the major Turkish states, and a minimum of $50,000 in the smaller Turkish cities.
• The real estate evaluation report must be equal to the minimum.
• Registering the real estate in the Land Registry Directorate and obtaining a title deed for the property.

• Application form
• A passport valid for at least 6 months
• A copy of the passport, certified and translated into Turkish
• Real estate title deed document
• DASK earthquake insurance paper
• A family booklet translated and certified
• Health insurance papers
• 4 personal photos

Most Arabs and foreigners turn their attention to the city of Istanbul in their search for a safe and distinctive real estate investment for several reasons that we mentioned to you.

To get special purchasing offers in the Turkish city of Istanbul, you can contact Elhaj Real Estate Group team, which is always ready to answer your questions and inquiries wherever you are around the world.