Which nationality/citizens/country can buy a property in Turkey?
The process of buying a property in Turkey is remarkably straightforward and, after all decisions have been finalized, the transaction can be completed in a few hours for domestic buyers. Like Turkish buyers, all foreigners can buy property from Turkey.
According to new Turkish regulations, the countries who can buy property in Turkey are defined. You can find the list below. The following list identifies some of the countries allowed to purchase Turkey property but this is not the complete list:
Afghanistan, Argentina, Albania, Belgium, Belize, Benin, Bosnia Herzegovina, Brazil, Bulgaria, Burkina Faso, Burundi, Canada, Chad, Colombia, Croatia, Denmark Dominican Republic, Estonia, Finland, France, Gabon, Gambia, Germany, Guinea, Georgia, Holland, Ireland, Italy, Ivory Coast, Kenya, Kosovo, Kuwait, Libya, Lebanon, Luxemburg, Mali, Moldova, Monaco, Morocco, Namibia, Norway, Poland, Portugal, Peru, Romania, Saudi Arabia, Serbia, Slovakia, South African Republic, South Korea, Spain, Sweden, Switzerland, United Arab Emirates, United Kingdom, United States of America.
The success of Istanbul’s property market is a simple matter of supply and demand. Due to the rapid growth of the city (some 400,000 new inhabitants arrive each year to work or study) the existing housing stock has reached capacity. It is estimated that 250,000 new homes per annum are required until 2015 according to the Real Estate Investment Trust Association to meet the demand generated by foreign as well as domestic investment.”
With increased foreign investment and new commercial activity, including the new Metro and a new airport on the way, Istanbul, the recognised ‘economic powerhouse of Turkey’ has some great investment opportunities available and both domestic and foreign investors are now showing considerable interest in Turkey apartments.