New rules for obtaining Turkish residence by buying property in 2023 + 2 key points

According to the new rules, from October 16, 2023, the conditions for obtaining residence by buying property in Turkey have faced many changes, to know the details of the new residence rules, stay with me in the rest of this article.

As you know, before October 16, 2023, there were a number of important conditions for obtaining Turkish residence by buying a property, such as the value of the property you were buying must be at least 75 thousand dollars in big cities and 50 thousand dollars in small cities. It was worth it, it should also be located in the open residential areas of Turkey.

Description of the new law:

But in the new law, the value of the house you buy to obtain residence must be at least 200 thousand dollars, and it doesn’t matter if it is a big city or a small city, and you must also show this amount of 200 thousand dollars in the document (tapu) and its equivalent in lira. .

• The new law does not apply to people who bought and signed a property before October 16, 2023.
• The closed neighborhoods are still closed as before and have not been opened.
• The amount for obtaining a passport, which was 400 thousand dollars in the past, is still the same 400 thousand dollars, but it does not seem that it will remain 400 thousand dollars, and it is very likely that this figure will increase in the near future.

2 important points:

The first point: the expert report of the property is removed from the documents of the residence office, and you may be able to buy a house for less than $200,000, but it is important to record $200,000 in the document, and this means that you have to spend Pay the deed for 200 thousand dollars, currently the property purchase tax in Turkey is 4%.

Note: In order to be aware of the purchase price of the property in Turkey and to be sure that the real value of the property you are buying is not much different from the figure you are paying, you must get the property expertise report through an official expert.

This report helps foreign buyers to know the value of the property, because it is really difficult for a foreigner to know the exact price of the property he wants to buy, but an official expert knows and tells you, but according to custom, the value Real estate transactions are about 20 to 30% more than the real estate expert figure, but not twice, so be sure to get expertise.

Currently, on October 20, 2023, the cost of expertise is 9800 lira.

Second point: If the house you are buying has been 5 years old since the last transaction, the owner does not pay income tax, but if he wants to make a transaction earlier than 5 years, you have to pay tax, and this tax is related to the 4% tax that he paid when signing the document. and it is equivalent to 4% of the amount that is written in the property document.

Why does the residency office announce at least one month earlier?

The Turkish government and the residence administration have no obligation to give a deadline for such urgent issues and to inform in advance because it causes congestion and confusion in the Turkish property market and a large volume of property purchases enters the market, which causes a sudden increase in property prices in Turkey. becomes Turkey and puts a lot of pressure on all subordinate elements.

Therefore, as a buyer or a family who is planning to immigrate to Turkey, you should never lose the time you have to be able to buy the property under favorable conditions and get residence, because in Turkey the rules for foreigners are announced at once and it is possible. Your conditions are not compatible with the new rules.

Final important words:

Let’s not forget that by buying a property in Turkey, we are buying the land and nobility, or in other words, we are buying the land of Turkey, and it is natural for the Turkish government to be stricter with respect to the conditions of the region and the high demand for buying property in Turkey, for foreign property buyers. On the other hand, from this high volume of property sales, it has its right under the title of tax to pay for the country’s infrastructure.

Because this new law forces you to enter the figure of 200 thousand dollars in the document, it means that you have to pay the tax of 200 thousand dollars to buy the property and you can no longer, as before, at least for obtaining residency, have the purchase figure contradict the figure you write in the document. be

As you know, in Turkey, due to taxes, many people write a figure lower than the actual purchase price in the deed in order to pay less tax. For example, if someone buys a house worth 3 million liras, he would write in the deed that the purchase value is 300 thousand liras, and so on. It was to the detriment of the Turkish government because they only paid 10% of the purchase value. And this is not the right thing to do.

This article is only a personal interpretation and analysis of this new law and residency changes, and there is no source to confirm or reject it, so if you were planning to buy property or obtain Turkish residency, ask the relevant departments to inform you of the new laws. say For this reason, you can call 157.