The booming real estate market with a strong demand for properties in major cities on the Turkish Riviera such as Alanya Antalya, in the Aegean Region, and Istanbul.

Turkey with its sought-after location at the crossroads of Europe, and Asia, is an attractive destination for holiday-makers and residents alike. Its vibrant social scene, great career options, and high quality of life make it a hub for business and tourism.

Relatively affordable prices of real estate and low cost of living compared to other popular European countries.

Turkey’s growing tourism industry offers a promising opportunity for property investors to generate rental income. The requirement for short-term rental accommodation is on the rise due to the increasing number of tourists visiting Turkey every year.

Acquiring purchase real estate of at least USD 400,000 worth on the appraisal report. There is a restriction that is placed on the property owner, referred to as a “lock-up period”. It means not being allowed to sell this property or transfer the Title Deed to another person for up to three years.

By purchasing Turkish real estate, you can obtain a residence permit “ikamet” in Turkey. Along with the property owner can obtain residency their immediate family, children under the age of 18, and a spouse.

DASK stands for “Doğal Afet Sigortaları Kurumu” in Turkish, translated to “Natural Disaster Insurance Institution” in English. Property owners in Turkey are required to have DASK insurance on their property as a mandatory earthquake insurance policy protecting against the financial losses caused by natural disasters.

It is required by law or regulation to obtain a property appraisal report when buying or selling real estate in Turkey.

Only licensed and authorized independent experts are permitted to conduct property evaluations. The assessed value is used to calculate the tax amount that must be paid when applying for Tapu (the certificate of ownership) and also for the annual property tax.

Conveyance tax (Tapu Cost) is a tax on the registration of property rights. The amount is calculated on the current rate of 4% of the cadastral value which is declared by the Tapu office and is typically lower than the actual market value of the property. This one-time tax is paid by the buyer at one of the state banks at the time of the ownership transfer.

Iskan is a legal confirmation that real estate has been approved by the relevant state committee in Turkey.

The real estate developer is responsible for obtaining the Completion Report or “Genel Iskan” from the municipality after the project completion. This certificate confirms the project commissioning is by the approved plans and regulations. It ensures that the building or complex is safe and habitable, eligible for connection to utilities such as water and electricity.

The Habitation Licence or “Ferdi Iskan” in Turkey is a real estate technical passport specific to an individual residential unit, apartment, or villa, in the living complex. It contains complete technical specifications about the property and confirms that the property is safe and habitable for occupancy.

The owners of real estate in Turkey are required to pay an annual property tax or “Emlak Vergisi” in Turkish. The tax rate is calculated on the cadastral value of the property. It is typically 0.1% for residential properties in small cities, and 0.2% for big cities.

This tax is paid to the relevant municipality in two installments, with the first installment due in May and the second installment due in November of each year.

In Turkey, property inheritance is governed by the Turkish Civil Code and other related laws and regulations. Under Turkish Law, the property of a deceased person is inherited by their legal heirs (spouse, children, parents, or other relatives). The rules of inheritance are based on a system of “shares”, depending on the circumstances.

A last will, also known as a testament, can be used to designate specific beneficiaries and specify how much of the property each beneficiary should receive.