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Investment location

Turkey

Almost any foreigner may buy — the difficulty starts after the purchase.

Role in a portfolio
Fast entry and status
Foreign ownership
Freehold with no nationality restriction, outside military zones

Turkey is the closest thing on this page to simply buying: the reciprocity requirement was abolished in 2012, and a national of almost any country registers the tapu — the title — in their own name, with no local company and no partner. That is why the market is so densely populated with buyers from the former USSR, and unfortunately why its advertising is so densely populated with simplifications.

Restrictions exist, but they are geographic rather than national. Purchase by a foreigner is barred inside military and special security zones, and the check happens at registration — which means the refusal arrives after the deposit. There are ceilings too: no more than thirty hectares per person nationwide, and no more than a tenth of a district by area in foreign hands in aggregate. For an apartment this rarely matters; for land it always does.

Status is sold separately from housing, and the thresholds have moved. Citizenship by investment rose from USD 250 000 to USD 400 000 in June 2022, with a three-year holding obligation. A residence permit tied to ownership has, since late 2023, required a property worth at least USD 200 000. Two different documents with two different thresholds — routinely conflated in listings.

A separate matter is the neighbourhoods closed to foreign registration. The ministry updates the list by decree, and in a closed neighbourhood the flat remains yours while registering your address there, and obtaining residence on it, does not. What has to be checked is the address, not the city: one mahalle can be closed while the one next to it is fully open.

Since the 2023 earthquakes the decisive document is not the brochure but the iskan — the occupancy permit — together with the year of construction relative to the code then in force. A building without an iskan is cheaper for a reason. DASK earthquake cover is compulsory, and it is also an indirect read on how the property has been rated for risk.

The caveat: The right to reside does not come with the flat: the list of neighbourhoods closed to foreign registration changes by ministerial decree, not by statute.

More on Turkey

Written breakdowns of subjects the English channel has not filmed.

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Questions

Turkey: questions and answers

Can a foreigner own property in Turkey?

Freehold with no nationality restriction, outside military zones. The title is a property of the specific project, not of the country as a whole: what the contract says outranks the word "freehold" in a brochure, and that is the first document to read. The detail is in the write-up above.

What is Turkey for in a portfolio?

Fast entry and status. Almost any foreigner may buy — the difficulty starts after the purchase. That answers "what job does this market do", which is a different question from "where is the yield highest": markets on this list run on different currencies, different liquidity and different exit horizons, and a single percentage cannot be compared across them.

What is the catch with Turkey?

The right to reside does not come with the flat: the list of neighbourhoods closed to foreign registration changes by ministerial decree, not by statute. We put that in writing rather than in the small print, because it is usually the thing that decides whether the market suits a particular buyer at all.

Why are there no prices or yields on this page?

Because we hold no transaction database for this market, and passing a third-party market summary off as our own analysis is not something we do. We compute figures only where we hold live stock — in Dubai, where medians and entry prices are recalculated nightly and published on the district pages. Here you get the rules, the role of the market and what we have seen for ourselves.

Comparing this market with Dubai

Tell me the budget, the horizon and what the purchase is for. Where the answer is Dubai I will say so with numbers from our own stock; where it is not, I will say that too.

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