30 answers about buying property in Türkiye: TAPU, taxes and running costs, residence permit and citizenship, banks and transfers, renting out and life in Alanya.
New Time Investment is a real estate agency in Alanya (Antalya, Turkey). We help international buyers choose, buy and rent apartments, villas and commercial property, complete the deal, obtain a residence permit and manage property.
No, you don't. Thanks to the “reciprocity principle”, buying a home in Türkiye is open to citizens of almost every country — all you need is a valid passport. In fact, it works the other way round: you become eligible for a Turkish residence permit after purchasing property and receiving your TAPU (title deed).
The basic set for a foreign buyer: a passport, a Turkish tax number, and — since 2022 — a certificate confirming the conversion of foreign currency into Turkish lira for the transaction amount (required for issuing the TAPU). The specialists at New Time Investment accompany you at every stage of the deal and prepare the complete document package, so your dream of a “home by the sea” comes true fully within the law.
Accepted ways to pay for property in Türkiye:
• Bank transfer from the buyer's account to the seller's account (either a foreign account or an account opened with a Turkish bank);
• Bank transfer from a legal entity;
• Cash payment;
• Payment by bank card;
• Traveller's cheques;
• International payment systems (for example, Western Union).
The TAPU is the title deed — the official certificate confirming ownership of property purchased in Türkiye. Citizens of any country who own real estate in Türkiye enjoy equal ownership rights throughout the republic.
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✔️ The TAPU is registered and issued by the Land Registry Office (cadastral directorate) for the district where the property is located.
✔️ When ownership is transferred, the TAPU in the new owner's name is issued once the new owner has been entered in the property register.
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An important point: the new owner also acquires the plot of land (or a share of it) under the building — whether that is an apartment block or a detached house (villa).
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✔️ The transfer of ownership requires the personal presence of the seller and the buyer, or of their authorised representatives.
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Types of property title in Türkiye:
1️⃣ RED TAPU — ownership of a plot of land with a building constructed on it.
2️⃣ BLUE TAPU — ownership of a plot of land without any buildings.
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As a rule, the TAPU states the cadastral value of the property rather than the market value, which works in your favour when paying property taxes. This is the officially accepted practice in the Republic of Türkiye.
IMPORTANT! The market price may not be lower than the cadastral value, which is set by a special commission of the city municipality.
When buying property in Türkiye, a certain set of documents is required to prove the legal status of the property you are acquiring.
The iskan (the building's technical passport) is every bit as important a document as the TAPU.
The İSKAN (iskan) is the technical passport of a building: the act of its commissioning and the permit to use the property or an independent part of it. This document confirms that the building complies with the approved project and all construction standards, and that it has been officially accepted for occupancy.
In Turkish, the iskan is called Yapı Kullanma İzin Belgesi — the permit for the use of real estate.
🏔️ DASK is Türkiye's compulsory earthquake insurance, covering damage that may occur after an earthquake.
When you buy property in Türkiye, taking out this policy is mandatory — without it, you cannot register water and electricity accounts in your name.
Foreign owners of Turkish real estate pay the same taxes as citizens of the republic:
• on the purchase of property
• on ownership (annual property tax)
• on rental income
• on profit from resale
• on gifts and inheritance
• luxury tax
If you would like to buy property in Türkiye but don't have the full amount available, the smartest solution is a loan from a Turkish bank!
The key questions worth studying in advance:
✔️ What happens if you fail to repay a mortgage in Türkiye?
✔️ What are the mortgage interest rates in Türkiye?
✔️ Citizens of which countries can take out a property loan in Türkiye?
✔️ What documents are needed to apply for a loan?
✔️ What additional costs should you expect?
✔️ In which currency can a mortgage be issued?
Buying at an early stage of construction is noticeably cheaper, but it does call for attention to detail. Questions worth asking in advance:
We will answer the following questions:
• Why is buying a home in Türkiye at the “excavation stage” so profitable?
• Do the finished buildings match the announced project?
• What can you do if the project is not delivered on time?
You can buy property in Türkiye entirely remotely: online viewings via video call, reservation, purchase by power of attorney and payment from abroad. Our manager accompanies you at every step — and if any questions come up, we are always happy to help.
Completing a property purchase in Türkiye by power of attorney is an important topic, especially when buying remotely.
We will answer the following questions:
✔️ Which actions does the grantor specify in the power of attorney?
✔️ Where can a power of attorney be issued?
✔️ How can foreigners who don't speak Turkish issue a power of attorney?
✔️ Does the power of attorney need an apostille?
✔️ What does a sample power of attorney look like?
✔️ What powers does the authorised representative have?
There are two common ways to transfer funds from Russia abroad to buy an apartment in Türkiye using cryptocurrency.
Method 1️⃣ — topping up a Binance exchange wallet via the P2P system.
Method 2️⃣ — topping up a wallet through a crypto exchanger.
Later we will explain how to open an exchange account, how to verify it, and how to create a hot wallet for storing crypto assets.
Ask us your question
Since 24 January 2022, foreign individuals buying property in Türkiye must, in order to receive the TAPU, present a certificate confirming the sale of foreign currency and the purchase of Turkish lira for the amount of the transaction.
Talking to an agency remotely and looking at photos and videos of your future apartment may not be enough to make such an important decision as buying property in Alanya.
Only on the spot can you truly assess the location of a residential complex, its infrastructure, the views from your future apartment, its condition, and how close the shops, pharmacies, public transport and beaches really are. That is exactly why our agency offers an orientation tour to Türkiye — and to Alanya in particular.
The ikamet, or Turkish residence permit, is issued to foreigners who plan to stay in the country continuously for more than 3 months. To obtain an ikamet, you submit an online application on the website of the Turkish Directorate General of Migration Management.
After completing the electronic form, you will be offered an appointment date, for which you need to bring the following set of documents:
• The printed application
• Your passport, original and colour copy
• The receipt for the ikamet application fee
• Biometric photos (4 pcs.)
• A health insurance policy covering your entire stay in Türkiye (as a rule, insurance is taken out for one year)
• Your TAPU if you own property, or a rental contract.
The decision on granting a Turkish residence permit is issued within a few weeks.
The initial issue of a residence permit (ikamet) costs roughly €150 per person. Renewing a Turkish residence permit is somewhat cheaper. It all depends on your citizenship: for Ukrainian citizens the fee is higher than for Russians, and for Norwegian citizens it is around three times higher.
Foreign nationals are entitled to apply for a Turkish passport in the following cases:
• Through marriage;
• Through naturalisation;
• As a holder of a Turquoise Card;
• By descent;
• By birth in Türkiye;
• Under a long-term employment contract (over 5 years);
• Through a significant contribution to the Turkish economy (property investment, opening a deposit account, purchasing securities and other routes).
Many foreign investors today actively use the fast-track citizenship scheme through property purchase. By law, the cadastral value of the property (or properties) must be at least US$400,000 (or the equivalent in Turkish lira or euros).
After buying property for that amount, you apply to the General Directorate of Land Registry for the district where the property is located. Its officers verify the value of the property and confirm that the seller has been paid in full. Once you have your TAPU and a residence permit, you can start assembling the required documents and file your application for a Turkish passport with the General Directorate of Civil Registration and Citizenship. Processing takes one to two months.
A tax number is something a foreigner needs for almost everything in Türkiye: opening a bank account, buying property, connecting water and electricity.
A foreigner can obtain a Turkish tax number in two ways:
• In person, at any office of the tax authority (Vergi Dairesi), with the original of your passport and a copy. Obtaining a tax number is free, and once registered, it appears in the systems of every financial institution in Türkiye.
• Online, on the official website of the tax administration, ivd.gib.gov.tr (İnteraktif Vergi Dairesi).
The first two documents every bank requires are your passport and a tax number obtained in Türkiye. Below are the additional documents requested by the various banks.
✅ Garanti Bank, DenizBank:
Water and electricity bills. If you have no bills, then a certificate of residence from your home country, translated and certified by a Turkish notary. Failing that, an ikamet (residence permit).
✅ Kuveyt Türk:
Water and electricity bills. Citizens of Belarus and Kazakhstan cannot open an account without a residence permit.
✅ Yapı Kredi:
Water and electricity bills for the last 3 months. If you have no bills, then a registration certificate from the local administration/municipality (belediye).
✅ Akbank:
Water and electricity bills. If you have no bills, then a registration certificate from the local administration/municipality (belediye). For all foreigners: no account is opened without an ikamet (residence permit).
✅ Ziraat Bank:
Water and electricity bills. Foreigners without an ikamet (residence permit) cannot open an account.
An apostille is a stamp certifying the authenticity of an official document for use in another country. In Turkish property transactions, it is most often required on a power of attorney issued outside Türkiye.
The most popular districts of Alanya are the City Centre, Avsallar, Tosmur, Kestel, Mahmutlar and Kargıcak. Each district has its own character, so there is no single answer to which one is “best” — every one of them offers everything you need for comfortable living. It ultimately comes down to your preferences and the purpose of your purchase.
Looking for an affordable apartment for yourself and comfortable living within a large Russian-speaking community? Take a look at Mahmutlar.
If your goal is profitable renting or resale, focus on the City Centre — home to the main sights, entertainment and the best beaches — as well as Oba and Cikcilli, favourites among European buyers.
If your choice is luxury property — grand villas, penthouses and spacious apartments in large new residential complexes — consider Kestel or Konaklı.
And do let us show you around the Tosmur district of Alanya as well.
Türkiye is a country of contrasts and new opportunities. That is why your monthly cost of living will depend entirely on your personal preferences, habits, the season, the type of property, the infrastructure and so on.
Market groceries and utility bills here are noticeably cheaper than in Europe, and the biggest budget factor is lifestyle: cafés, a car, entertainment.
Because of the lira exchange rate, specific figures change quickly — our managers can give you an up-to-date benchmark for a family budget.
In Türkiye, as in any other developed country, housing comes with maintenance costs — the complex's infrastructure, security, the caretaker's (kapıcı) services and so on — plus utility bills. The Turkish version of a monthly owners' “service charge” for the upkeep of the building is called aidat.
Maintenance and service costs are added up and divided among all residents. The aidat is the same for every apartment owner in the complex regardless of the type or size of the apartment, since everyone uses the staff and infrastructure on equal terms. The amount of the monthly payment and its currency are set at the general meeting of owners.
The aidat can change depending on what work is planned. Sometimes owners take on part of the duties themselves to save money.
The aidat is a mandatory, ongoing payment, regardless of whether anyone actually lives in the apartment. Before buying, it is worth asking about the aidat to avoid unpleasant financial surprises.
On average, the aidat comes to around €10–50 per month; in a large complex with rich infrastructure it can reach €100–150 per month.
Since 2017, private individuals in Türkiye have been prohibited from renting out apartments on a daily (short-term) basis.
As an alternative, there are two other ways to rent out your apartment:
• long-term rental;
• guaranteed rental.
Long-term rental means letting the property for a year or more. Even then, private owners must meet several mandatory conditions: have the rental agreement certified at a notary's office, register the tenant at the address of temporary residence, and, if the tenant is not a Turkish citizen, obtain their Turkish tax number.
Guaranteed rental means letting your property through a management company. In that case, the company handles everything — finding tenants, preparing the apartment, dealing with day-to-day issues — while you collect your income and can still spend a few holidays a year by the sea in your own apartment. If this is your plan, it is important to tell your agents before buying, so they can select an apartment specifically suited to it.
After buying a home in Türkiye, you will inevitably deal with connecting the utilities. The key questions our after-sales department will help you with:
✔️ How do you register water and electricity meters in Alanya?
✔️ What documents are needed for the registration?
✔️ How can you pay for electricity and water in Alanya?
The after-sales service of New Time Investment helps you, once you have bought property in Türkiye, to settle into your new home with the least possible stress and expense — getting your daily life organised and your apartment set up. New owners often simply lack the basic local knowledge needed to handle many everyday matters on their own.
The after-sales department of New Time Investment helps you:
📍 Solve tricky household and technical issues.
📍 Manage the property while the owner is away.
📍 Choose and buy furniture and appliances for the apartment at good prices.
📍 Sign contracts with the utility providers.
📍 Pick a provider and connect the internet and a landline.
📍 Obtain the individual technical passport for the property and pay taxes.
📍 Arrange health and property insurance.
📍 Organise transfers and car rental.
Türkiye's pharmacy network is superbly — and very strictly — organised. The work of Turkish pharmacies is tightly regulated by law, and violations of the rules on selling medicines can even lead to imprisonment. Many people have heard about the quality of Turkish pharmaceuticals and often take Turkish medicines home along with the Turkish sweets.
Our team keeps a list of Turkish equivalents of familiar medications — get in touch and we will gladly share it.
Planning to move to Türkiye together with your pets?
To enter with a pet you will need a veterinary passport with vaccinations, a microchip and a health certificate; some of the procedures must be completed in advance. Alanya has a well-developed network of veterinary clinics, and the prices of medicines and services are noticeably lower than in Europe.
Alanya has large appliance chains (Vatan, Teknosa, MediaMarkt) as well as local shops — the choice is wide and there are regular promotions. The managers at New Time Investment will tell you where to furnish your apartment turnkey at the best prices.
Farmers' markets run in every district of Alanya, each on its own day of the week. Vegetables, fruit and fresh herbs there are noticeably cheaper than in the shops, and towards closing time the sellers are happy to lower their prices. Our managers will tell you the market nearest to your home and the day it is held.