The Mansion
USD 43,000,000
Istanbul, Türkiye
Property Type: Villa
Bedrooms: 7
Total Area: 7682m²
Türkiye is a major transcontinental country strategically positioned and bordered by three seas. A popular tourist destination, Türkiye’s location facilitates connectivity with key markets via excellent transport links. Although Ankara is its capital, the leading global city of Istanbul is Türkiye’s largest and is its main commercial and cultural center.
Everything you need to know about acquiring premium real estate in Türkiye and linked to the Türkiye Citizenship by Investment Program.
Minimum of three years
USD 400,000
Full ownership
5%
Price
Currency
Total Properties 13
EUR 40,000,000
USD 43,000,000
GBP 35,000,000
Istanbul, Türkiye
Property Type: Villa
Bedrooms: 7
Total Area: 7682m²
EUR 2,900,000
USD 3,100,000
GBP 2,600,500
Bodrum, Türkiye
Property Type: Villa
Bedrooms: 3
Total Area: 536m²
EUR 1,500,000
USD 1,600,000
GBP 1,300,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms:
Total Area: m²
EUR 1,400,000
USD 1,425,000
GBP 1,200,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: m²
EUR 489,800
USD 525,000
GBP 421,800
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: 120m²
EUR 444,600
USD 467,500
GBP 385,600
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: 113m²
EUR 442,600
USD 465,000
GBP 383,800
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: 194m²
EUR 426,500
USD 450,000
GBP 370,300
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: 174m²
No rental properties available
Türkiye has a highly attractive real estate market that has been rapidly enhanced over the past 20 years by policies that prioritize the construction sector and multi-billion infrastructure investments.
Compared to the global real estate market, which largely came to a halt in the second quarter of 2020 when most of the world shut down in response to the Covid-19 pandemic, the Turkish real estate market reached its peak due to plunging interest rates and booming demand. According to Turkstat, housing sales in Türkiye reached 1.49 million units, while sales to foreign nationals increased by 43.5% in the same period and hit a record-high 58,576 units.
Foreign investors may acquire properties and restricted real rights of up to 30 h. (In Turkish law, real rights are rights that give direct control over movable or immovable property and that can be asserted by anyone). The total area of properties acquired by foreign nationals may not exceed 10% of the surface area of the property’s subject district. In addition, foreign buyers may not acquire properties in military forbidden zones, following the Military Forbidden Zones and Security Zones Law No. 2565.
There are two ways to acquire an immovable property in Türkiye. First, the buyer may entrust a power of attorney in Türkiye. Otherwise, they must obtain a Turkish tax number and open an account at a Turkish bank. The next step is signing the contract with the seller. The transfer of the title deed can be executed through the Directorate of Land Registry and Cadastre or online with Webtapu (webtapu.tkgm.gov.tr/), which is available in Arabic, English, French, and Russian.
The title deed fee is collected separately from the buyer and seller at a 2% rate of the disposal value. The value cannot be less than the value in the appraisal report, which shows the actual value of the property. A small circulation capital fee is charged from the buyer, which was less than TRY 200 in 2021. A new tariff is yet to be announced.
No, the buyer is allowed to transfer the purchase price directly from abroad without opening a bank account.
According to Eurostat, Türkiye has the highest increase in housing prices in Europe — 32% in 2021. Rentals in Türkiye surged by 9.4% between 2020 and 2021, and gross rental yields vary from moderate to high. Properties in major city centers offer yields of 7.6%, while those in coastal areas can yield from 13% up to an impressive 16%.
If a buyer rents their property annually to an individual or a company, they would have to file a tax return for their rental income for the previous calendar year to the nearest tax office between 1 and 25 March. The tax is paid in equal installments twice a year — in March and July. The minimum rental income, which is not taxed, is TRY 9,500 for housing and TRY 70,000 for commercial properties per year.
Local property tax is payable in two equal installments, the first in May and the second in November. The buyer is required to contact the local municipality for further information and payment options. The amount to be paid for that year is calculated by using the rates below over the minimum fair values of the real estate within the relevant year.
Henley & Partners assists international clients in obtaining residence and citizenship under the respective programs. Contact us to arrange an initial private consultation.
Have one of our qualified advisors contact you today.
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