Real Estate in Turkey - Restrictions on Ownership
There are some restrictions on foreign ownership in Turkey. Here are some of the restrictions that should be noticed by a foreign investor wishing to own property in Turkey:
- Any foreign person can own property throughout the country, where up to 30 hectares of property can be bought at most, and he can establish in-kind rights in these area.
- It is not possible for a foreigner to purchase or rent property in prohibited security or military zones.
- A foreigner may own property in the entire area of the town in which the property is acquired in a manner that can buy up to 10% of the total area, subject to item (a) above, and may establish rights in kind in such areas.
- If the restrictions specified in this context are not observed by the foreigners or the companies, then the necessary liquidations on these properties shall be carried out by the concerned departments or ministries within the period prescribed for it in accordance with the provisions of the relevant law.
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