Nationalities prohibited from owning real estate in Turkey
There is no doubt that the Turkish government has provided many facilities for foreigners wishing to own real estate in Turkey, but at the same time it has imposed many restrictions on some nationalities. The law abolishing the principle of reciprocity did not include five nationalities: Syria, Armenia, Cuba, Greek Cyprus and North Korea.
Why are these nationalities prohibited from owning property in Turkey? What are the reasons why there are so many questions about the real estate sector in Turkey? These and other questions will be discussed in this article.
Why are some nationalities prevented from owning real estate?
There are many reasons that prompted the Turkish government to prevent some nationalities from owning real estate in Turkey, but they are often political and security reasons, and they are old agreements that are still in force until now, and this is what we will talk about through the following paragraphs:
Reasons for preventing Syrian citizenship from buying a property in Turkey:
The Hatay Agreement was a treaty between Turkey and Syria signed in 1938 that granted Turkey control over that province that was previously part of Syria.
The agreement also stipulated that Syrians would not be able to obtain Turkish citizenship and the Turkish government used this clause to prevent Syrians from buying real estate in Turkey.
In addition to the laws stipulated by Turkish law to prevent Syrians from buying real estate in Turkey, there are general conditions that will automatically prevent them from owning it, most notably:
- As a result of the Syrian war and economic sanctions, many Syrians lost their jobs and sources of income and this made it difficult for them to save enough money to buy real estate in Turkey.
- Due to the chaotic situation in Syria, many Syrians do not have the necessary documents (such as a passport or birth certificate) to apply for Turkish citizenship or residence permit.
- Most Syrians do not speak Turkish, which makes it difficult for them to communicate with Turkish officials and understand Turkish laws and regulations.
- There is a widespread perception that Syrians are not welcome in Turkey, and that they will never be able to integrate into Turkish society and this has led to the reluctance of many Syrians to apply for Turkish citizenship or residency.
Reasons for preventing Cuban citizenship from owning property in Turkey:
- The Turkish government does not want to encourage investment in Turkey by citizens of countries with which it does not have good relations.
- The Turkish government does not want to give Cuban citizens an easy way to obtain Turkish citizenship.
- The Turkish government is concerned that if Cuban citizens are allowed to own property in Turkey, they may use their property as a base for criminal activities.
Reasons for preventing Armenian citizenship from owning property in Turkey:
- The Turkish government recently passed a law prohibiting Armenian citizens from owning real estate in Turkey.
- The Turkish government justifies this move by claiming that Armenian citizens pose a security risk and that they can use their property to support terrorist activities.
- This new law is likely to have a negative impact on relations between the two countries and may further escalate the conflict.
Reasons for preventing holders of Greek Cypriot citizenship from buying real estate in Turkey:
The reasons for preventing holders of Greek Cypriot citizenship from buying real estate in Turkey are numerous and stem from the ongoing Cyprus conflict.
The Turkish government does not recognize the Republic of Cyprus, and instead only recognizes the Turkish Republic of Northern Cyprus and as such, they do not consider Greek Cypriots to be legitimate citizens of a recognized country and therefore do not allow them to buy property in Turkey.
Is Turkey expected to allow those who are prohibited from buying real estate in Turkey to do so in the future? No, it is not expected that Turkey will allow those who are prohibited from buying real estate in Turkey to do so in the future, but at the same time this is not certain, as it is possible that the Turkish government will issue at any time decisions to cancel it or issue something contrary to it.
Reasons for foreigners rushing to buy real estate in Turkey:
There are several reasons for foreigners to buy real estate in Turkey and the first reason is that the country offers a very attractive investment climate.
Turkey has a very diversified economy, which is growing at a rapid pace and this makes it an attractive destination for foreign investors.
Another reason is that the Turkish government offers a number of incentives to foreigners who want to buy real estate in the country and these incentives include tax breaks and other financial benefits.
Finally, Turkey is a beautiful country with rich culture and history and it is also becoming increasingly popular as a tourist destination and this combination of factors makes it an ideal place to buy real estate.
Some procedures for buying real estate in Turkey for foreigners:
In order to buy a property in Turkey, foreigners must obtain permission from the Ministry of Environment and Urbanization. The application must be submitted through the Turkish embassy or consulate in the foreigner's country of residence.
The following documents are required:
Notarized copy of the passport.
Notarized copy of residence permit (for foreigners residing in Turkey).
A certified copy of the marriage certificate (for married couples).
Application Form.
A bank statement showing that the applicant has enough money to purchase the property.
After the application is approved, the foreigner will be given a registration number, which must be submitted to a Turkish notary when purchasing a property.
Should I buy real estate in Turkey at the moment?
Turkey has been one of the most attractive real estate markets for foreign investors for many years now. The combination of low prices, nice climate and friendly people makes it a great place to buy real estate.
However, there are some risks to consider before making a purchase as the currency is volatile and there is always the possibility of political instability returning to the country.
Overall, though, Turkey is still a great place to buy real estate, and now might be a good time to do so given the low prices.
For more details on the subject of real estate ownership in Turkey, you should contact our real estate consultant to inform you of all the information you are looking for and that you need during your journey to owning Turkish real estate.
