Freehold Ownership in Turkey for Saudis – Procedures and Key Tips

The boom in freehold property ownership in Turkey by Saudis is due to several factors, the most important of which is that the real estate sector in Turkey is one of the most dynamic and open economic sectors.

Studies indicate that Saudi companies and investments have recorded a significant increase after Turkey enacted more regulations and laws that facilitate investment in many sectors, such as tax reductions and other incentives that have greatly attracted investors.

Over the past years, the Kingdom of Saudi Arabia has been among the top foreign countries investing in real estate in Turkey.

According to data from the Turkish Statistical Institute, Saudis' freehold property ownership in Turkey in the real estate sector in 2017, for example, exceeded 3,300 properties, an increase of up to 100% compared to 2016, making Saudis the second largest foreign nationality in terms of property ownership that year.

Freehold property ownership in Turkey for Saudis – Important tips before buying

Every year, millions of tourists flock to Turkey, and it is noticeable that many of them—especially Arabs—visit Turkey regularly at close intervals. A simple calculation of the annual expenses will show the economic feasibility resulting from Saudis' freehold property ownership in Turkey in the medium and long term!

If investors pay attention to the following points, freehold property ownership in Turkey for Saudis will be a much safer investment process:

• Complete information about the property to be owned.
• Visiting the property site and ensuring its suitability for housing, work, or the intended purpose of purchase.
• Ensuring that there is no other owner or buyer for the property.
• Verifying the eligibility of the seller or the person responsible for selling the property in terms of having the right to execute the sale.
• Making sure the property is free of rights resulting from mortgage, lease, or any other rights.
• Consulting specialists and experts in the real estate field before freehold property ownership in Turkey.
• Not risking the purchase of a property that has fundamental problems.
• Obtaining a copy of the property title deed to ensure that the previous owner has not transferred ownership in any way, and to make sure there are no outstanding rights on it.
• Ensuring that the area, specifications, and information in the title deed match the actual property.

Freehold property ownership in Turkey for Saudis – Growing interest in the Trabzon area

Trabzon City is considered one of the most important destinations for tourism and freehold property ownership in Turkey for Saudis in particular. Below are some reasons that motivate Saudi investors to own property in Trabzon properties:

• The enchanting nature of Trabzon, vast green spaces, and the spread of clear water springs.
• The predominantly conservative character of the Trabzon area, which provides a very suitable social environment for Saudis. It is common, for example, to find road signs written in Arabic, as well as the presence of several Arabic restaurants in the area.

• The people of Trabzon are generally known for their kindness and simplicity, and they warmly welcome Arab visitors and sometimes speak their language.
• There are many unique archaeological and natural sites such as Kible Dagi Mosque, Karaca Cave, and Uzungol Lake.

Due to the heavy tourist demand from Saudis for Trabzon and its surroundings, some travel companies have started operating direct flights from all Saudi cities to Trabzon!

Read also about: Real estate investment in Turkey

What are the procedures for Saudis to own property in Turkey?

To complete the procedures for real estate freehold property ownership in Turkey and title deed transactions, the following are required:

• Obtaining a tax number.
• Translating the passport into Turkish.
• Notarizing the translated passport at the notary public or through Turkish embassies abroad.
• Two personal photos.
• Paying the title deed fees.
• The presence of the concerned person or their official representative, by presenting a notarized power of attorney at the notary public or through Turkish embassies abroad.

Read also: Residence in Turkey for Saudis 2022: Types and conditions

Other important information and topics, learn about them:

• Living in Trabzon, Turkey – Advantages, disadvantages, and costs.
• Real estate investment in Istanbul – Advantages and success factors.
• Real estate ownership in Turkey and obtaining Turkish citizenship.

Edited by: Imtilak Real Estate©

Did you like our topic? You can share it with your friends now!