Guide to Freehold Property Ownership for Kuwaitis in Turkey

The indicators of the Turkish real estate market have risen over the past decade, making it one of the most active and dynamic regional real estate markets in terms of buying and selling transactions. This came after a series of legal and legislative amendments in the country, which allowed foreigners to own real estate in Turkey, in addition to granting privileges to real estate investors such as providing them with a legal residence permit based on their property ownership or granting them Turkish citizenship and the right to citizenship for those who meet the requirements of the Turkish citizenship law for foreign investors in the Turkish real estate sector.

Arab nationalities have been among the most prominent foreign nationalities to own real estate in Turkey, turning towards real estate investment in the Turkish market due to the cultural and geographical proximity between Turkey and Arab countries, in addition to other factors that have made Turkish properties a focus for many Arab investors.

Kuwaitis are among the top Arab nationalities purchasing real estate in Turkey, ranking in the top ten foreign nationalities in several official annual statistics for buying properties in the country.

Can Kuwaitis own property in Turkey?

According to Turkish law and the regulations governing foreign ownership of real estate in the country, any foreign citizen has the right to own property in Turkey, except for five excluded nationalities: Syria, North Korea, Armenia, Cuba, and Greek Cyprus.

Therefore, Kuwaiti citizens can own properties in Turkey without any legal obstacles. They can also obtain a legal residence permit based on their property ownership, which covers all family members, including the spouse and children under 18 years old. This type of residence permit is renewed periodically as long as the property remains in the owner’s name.

According to Turkish law, a Kuwaiti investor who invests in the real estate sector in Turkey is entitled to obtain Turkish citizenship if their investment meets the requirements of the law granting Turkish citizenship in exchange for real estate investment. The law requires that the value of the properties owned by the foreign investor must not be less than 400,000 US dollars, the amount must be transferred from outside the country to Turkey, and the property purchased for this value must not be sold for three years.

What are the conditions for Kuwaitis to own real estate in Turkey?

The process of owning real estate according to the regulations in force in Turkey is based on certain conditions and requirements that apply to both Turkish citizens and foreign investors. Therefore, the conditions and requirements for foreigners (including Kuwaitis) to own property in Turkey are as follows:

• A valid passport for the property buyer
• An active bank account in Turkey for the buyer or any trusted and reliable party for the investor, to transfer the property price to the seller. The property deed cannot be issued by the Turkish Tapu Office without a bank transfer receipt between the seller and buyer.
• The purchased property must undergo a real estate appraisal report by a company accredited by the Turkish Tapu Office
• The property must comply with the requirements of the law granting Turkish citizenship as well as the laws and requirements for obtaining a legal residence permit in the country, if the investor wishes to obtain a real estate residence permit or citizenship.

Types of properties Kuwaitis can own in Turkey

There is no restriction on a specific type of property for foreigners in Turkey; all types of real estate are available for foreign investors, including Kuwaiti citizens.

Thus, a Kuwaiti investor in Turkey can own the following types of properties:

• Residential apartments
• Agricultural land
• Residential land
• Commercial shops
• Commercial offices for companies
• Villas and country houses
• Factories and industrial facilities
• Hotels and residential buildings
• Shopping centers and malls

Required documents for Kuwaitis to own property in Turkey

The routine procedures related to property transfer and purchase by foreigners in Turkey require several documents for the ownership process to be completed legally. The most important required documents are as follows:

• A copy of the buyer's passport, translated and notarized
• The real estate appraisal report for the property to be owned
• Bank transfer receipt
• 4 biometric personal photos
• Obtaining a tax number

Best cities in Turkey for real estate investment

Imtilak Real Estate experts classify Turkish cities and provinces in detail regarding which are the most suitable for real estate investment, where foreign investors can achieve good investment opportunities.

Accordingly, the best Turkish provinces for real estate investment are as follows:

• Istanbul Province

Istanbul tops the list of Turkish provinces and cities as the main economic and tourism hub in the country. It is also the most populous Turkish city, with a resident population of 16 million people. The city's importance is further enhanced by its contribution to the largest share of the country’s total GDP.

Istanbul represents the largest real estate market in Turkey, with consistently high demand for buying or renting properties. Official statistics indicate that Istanbul is the top Turkish city where foreigners own real estate.

• Ankara Province

Ankara derives its importance from its political status as the capital city, hosting government centers, official and unofficial institutions, as well as embassies, diplomatic missions, and international organizations.

The city has a strong real estate market with more than 5 million residents, in addition to large numbers of international and local students, as Ankara hosts the largest number of universities among Turkish cities and provinces.

Advantages of real estate investment in Turkey

Investors in the Turkish real estate market gain several benefits due to the advantages of Turkish properties, the most important of which are:

• Achieving good and regular returns by renting out the property
• Gaining a good profit margin in a short time when reselling the property
• Obtaining Turkish citizenship if the real estate investment meets the law’s requirements for granting citizenship to real estate investors
• Protecting funds from global inflation and maintaining their purchasing power

Are you Kuwaiti and want to own property in Turkey? Imtilak Real Estate is your top advisor

Imtilak Real Estate is classified as one of the best companies providing real estate brokerage services to foreign clients in Turkey, offering the best available real estate opportunities at the best possible prices.

Imtilak Real Estate provides a package of professional services covering everything the client needs for real estate investment in Turkey. These services include fieldwork, administrative procedures in government departments, legal aspects, and after-sales services such as property management and operation, as well as procedures for obtaining a real estate residence permit and Turkish citizenship.

Imtilak Real Estate has strong relationships with many distinguished clients from Kuwait, who have experienced real estate investment in Turkey through the company and achieved good returns in record time.

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