In recent years, buying property in Turkey has become one of foreign buyers' most popular investment options. Many individuals acquire residence or citizenship in Turkey through property purchases. However, after a few years, they may decide to sell their property and have questions about the regulations and restrictions related to selling property in Turkey.

Can You Sell Your Property After Purchase?

One common rumor you may have heard is that you cannot sell your property after buying it in Turkey. This claim is incorrect. As a foreign buyer in Turkey, you have the right to sell your property. However, you must meet an important condition: at least three years must have passed since you purchased the property. If this condition is met, you can sell your property and benefit from the profits.

Conditions of Selling Property and Its Impact on Residency and Citizenship

One important aspect to consider is the impact of selling your property on your residency or citizenship status. If you obtained residency or citizenship in Turkey through property purchase, selling the property before the three years may affect your legal status. For instance, if you sell your property before this period, your residency or citizenship may be revoked.

For this reason, many experts recommend consulting with a legal expert in real estate before deciding to sell your property, so you are fully aware of the legal and regulatory implications of your decision.

Turkey's Real Estate Market in 2024: Opportunities and Challenges

Turkey's real estate market in 2024 remains dynamic and growing. Major cities like Istanbul, Ankara, and Antalya continue to be among the most attractive locations for real estate investment. The increasing demand for property in these cities has led to a consistent rise in property values, presenting a favorable opportunity for those looking to sell.

On the other hand, inflation and economic fluctuations in Turkey may present challenges for sellers. In some cases, selling property may take time and require more patience.

Documents and Steps for Selling Property in Turkey

To sell property in Turkey, you will need to prepare various documents. These documents include the title deed (Tapu), a tax identification number, and valid identification documents. Additionally, you must ensure that there are no debts or obligations on your property.

The steps for selling property include:

Property Valuation: Before proceeding with the sale, it is advisable to consult a real estate expert to assess the value of your property accurately.

Selecting a Reliable Real Estate Agent: A professional real estate agent can assist you in the selling process and help find suitable buyers.

Drafting the Sales Contract: After agreeing on the price, a sales contract is drafted and must be signed by both parties.

Transfer of Title Deed: This step is carried out at the Turkish Land Registry Office (Tapu), and after that, the title deed is transferred to the new buyer's name.

Conclusion

Selling property in Turkey, despite certain conditions and restrictions, remains a viable option for those looking to profit from their investment in this country. Adhering to the laws and consulting with real estate professionals can help you navigate this process smoothly and avoid potential issues.

Additionally, being aware of market conditions and economic changes can assist you in making the best decisions. With sufficient information and proper planning, you can take advantage of the opportunities available in Turkey's real estate market and achieve success with your investment.