Why Chinese Buyers Are Turning to Turkey’s Property Market

yazarı lawyerfbc

açık Kasım 10, 2025

Is it really “trending” now?

Yes—interest from Chinese nationals in Turkish real estate has risen in the last 2–3 years, particularly for Istanbul, Antalya, and parts of the Aegean coast. While the top nationalities by purchase volume still tend to be Russians, Iranians, and Ukrainians, official data show foreign-home transactions overall and their nationality mix shift year-to-year. In 2024, house sales to foreigners fell to 23,781 (1.6% of all sales), and Russia, Iran, and Ukraine led the table; nevertheless, industry reports and agency data note growing Chinese interest driven by citizenship and diversification motives.

Why Turkey appeals to Chinese buyers in 2025?

Citizenship by Real Estate ($400,000): Turkey continues to offer a straightforward route to citizenship through real estate, with a three-year “do not sell” deed annotation. Updates in late 2023/2024 clarified eligible property types and tightened documentation.
Residency via Ownership: Property ownership can support a short-term residence permit (ikamet) when the property meets the current value criteria (widely cited as $200,000 market value); the regime still interacts with “closed neighborhoods” restrictions (explained below). Always verify current thresholds before applying.
Currency & Pricing: A weaker lira in recent years has made hard-currency buyers more competitive, and developers increasingly market turn-key units with rental potential in prime districts. (Corroborate pricing with official releases and independent valuation reports, discussed below.)
Document Handling Now Easier: Since November 7, 2023, Mainland China implements the Hague Apostille Convention, simplifying cross-border document authentication (no consular legalisation chains), which streamlines Turkish title and citizenship files for Chinese applicants.

Legal foundation: Can Chinese citizens buy property in Turkey?

Yes. Foreign real persons—including Chinese citizens—may acquire real estate in Turkey subject to statutory limits and security-zone prohibitions. The core authority is Land Registry Law No. 2644 (Art. 35) and implementing practice by the General Directorate of Land Registry and Cadastre (TKGM):

Area caps: Up to 30 hectares per person nationwide and at most 10% of private land area in any district may be owned by foreign real persons.
Security restrictions: Purchases are barred in military forbidden or special security zones; title registries warn at application.
Project duty for land-only: If a foreigner buys unbuilt land, a project matching the land’s qualified use must be submitted for approval within two years, or the land may be subject to liquidation rules.

Practical takeaway: Built residential/commercial units in permitted areas are the simplest path. Buying raw land is possible but risky and deadline-sensitive.

Citizenship by investment via real estate

Turkey’s Regulation on the Implementation of the Turkish Citizenship Law still enables citizenship for foreign buyers who meet the real estate criteria. The government’s official investor portal details the current position and 2023–2024 clarifications:

Key parameters (real estate route):

Minimum value: USD 400,000 (or equivalent FX) in qualifying property. Multiple units can be combined if structured correctly.
Property type tightened: As of December 12, 2023, only units with condominium/condominium servitude or built-on land with occupancy certificate compliance qualify. Unbuilt land and agricultural land are excluded for citizenship purposes.
3-year retention: The “not to sell for 3 years” annotation goes on the deed (or preliminary sales promise at the notary for off-plan with proper conditions).
No related-party loops: Buying from certain related parties/foreign sellers or flipping within restricted periods can invalidate eligibility.
Foreign Exchange Certificate (DAB/FX certificate): The purchase funds must be converted through a Turkish bank with a specific FX purchase certificate referencing the transaction per the Capital Movements Circular; the receipt and certificate must cross-reference details.

The “FX Conversion Certificate” (Foreign Exchange Certificate)

Foreigners must convert purchase funds via Turkish banks and obtain a Foreign Exchange Purchase Certificate—the certificate and bank receipt need to align (property IDs, passport/foreign ID, USD equivalent). This is checked by the title office when you lodge the file. The TKGM workflow explicitly lists “Foreign exchange certificate” as part of the foreign sale process.

Tip: Wire USD/EUR into your Turkish bank, complete FX sale to TRY, obtain the FX certificate, then pay the seller via bank transfer—before title transfer. Keep all receipts.

Residence permit via property ownership & “closed neighborhoods”

Turkey maintains a property-owner residence class (short-term permit). In mid-2022, the Migration Directorate began closing high-density neighborhoods to new foreign residence registrations under a 20% density criterion; the policy has continued with periodic updates. Practical effect: Owning property in a “closed” neighborhood may not support a new residence permit, even if the value criterion is met.

Value threshold: Practice guidance since late 2023 references USD 200,000 minimum property value for the property-owner permit (verify at application time). Choose area + valuation carefully and confirm the neighborhood’s current status before committing.

Action point: Check the closed-neighborhood list for your target district before signing. Your lawyer can screen addresses and advise alternate open areas.

End-to-end purchase timeline (for a Chinese buyer)

Strategic planning & area screening
- Align goals: citizenship vs. residency vs. pure yield.
- Check neighborhood status and security-zone constraints early.
Document readiness
- Passport, Turkish tax number, proof of address, and POA (if represented).
- Apostille for Chinese public documents now possible in Mainland China (since Nov 7, 2023).
Pre-deal checks
- Title search (debts, liens, encumbrances; ensure no adverse annotations).
- Valuation report (mandatory for many foreign deals and for citizenship).
- Eligibility check if the objective is citizenship.
Banking & FX certificate
- Open non-resident account; transfer funds; complete FX conversion; secure FX purchase certificate.
Sale contract & closing
- Notary preliminary sale (if off-plan) or title office deed (if completed).
- Deed annotated with 3-year hold for citizenship route.
Post-closing filings
- For citizenship: apply for Property Investment Determination Certificate; then residence, then citizenship application (family can be included).
Residence permit (if applicable)
- Apply in an open neighborhood with value-compliant property.

Cost breakdown (indicative)

Purchase price (in TRY after FX conversion) + bank transfer fees.
Title deed fee (Tapu harcı): 4% of the declared price (commonly shared in practice, but legally assessed on the transfer—be ready to shoulder it as buyer).
Circulating/registry fees (small fixed charges notified by SMS in process).
Mandatory earthquake insurance (DASK) before transfer.
Valuation report fee (ordered via WEBTAPU or approved firms).
Notary & sworn translator costs (and POA issuance costs if used).
VAT (KDV) for developer first sales—varies by property type and regime (Turkey’s general VAT rates were adjusted in 2023; housing has special rules). Seek tax advice on applicable 10%/20% rates and any exceptions.
Legal fees (due diligence, contracts, filings, citizenship package).
Citizenship processing: government fees, residence cards, translations.

Note: Under-declaring price to “save” deed fees is unlawful and may jeopardize citizenship or future claims. Ensure declared price ≥ appraised value.

Financing & banking for foreign buyers

Mortgages: Turkish banks may lend to non-residents, but underwriting is conservative and documents must be apostilled/translated.
Currency: Purchasing funds must be sold to a Turkish bank for TRY and matched by FX purchase certificate before transfer (see above).
Rental income & taxes: If you rent the apartment, declare Turkish-source rental income annually; tax treaties may affect your China-side treatment.

Choosing locations: Istanbul, Antalya, Aegean

Istanbul (Şişli, Kağıthane, Beşiktaş, Sarıyer, Küçükçekmece’s Basin Express corridor, Ataşehir) offers deep rental markets, transport access, and mixed-use projects.
Antalya (Konyaaltı, Lara) is a resort hub with robust short-let demand and strong foreign services (air links, schools).
Aegean (İzmir, Kuşadası, Bodrum) offers lifestyle focused stock; seasonality matters for yield.

Caution: Some Istanbul districts (e.g., Fatih, Esenyurt, Zeytinburnu, etc.) have been placed under residence-permit closures—this affects ikamet eligibility even if buying is legally possible. Verify current status before committing.

Due diligence essentials (lawyer’s checklist)

Title integrity:
- Confirm ownership chain, exact unit boundaries, and encumbrances (mortgage, liens, attachments, litigation notations).
- For citizenship, note that mortgaged/attached properties can be sold but their amounts aren’t counted toward the investment calculation; legal mortgages from prior acquisitions may disqualify units.
Project compliance:
- For citizenship, avoid unstructured land; prefer ready-built with occupancy or condominium/servitude status.
Valuation alignment:
- The valuation report must be acceptable to TKGM systems; reports outside the system aren’t counted for the investment-amount test.
Party restrictions:
- No purchases from related foreign parties or resale-chains that breach the three-year rules.
Payment trail:
- Ensure bank receipts and FX certificate cross-reference the property and buyer details precisely (passport/foreigner ID, block/lot/unit).
Neighborhood check for residence:
- Ask counsel to screen the address against the closed-neighborhood list the week you apply.

Common pitfalls & how to avoid them

“Closed area” surprises: Buying in a closed neighborhood might still be legally valid, but ikamet could be refused for new applications. Always check status pre-contract.
Ineligible asset for citizenship: Raw land or timeshare can’t be used for the $400k citizenship route. Buy qualifying built property only.
Valuation mismatch: If the declared deed price or valuation falls below thresholds, citizenship/residence may fail. Keep buffers.
Incomplete FX paperwork: Missing or mis-worded FX certificate or non-matching receipts block title or later citizenship checks.
Marketing overstatements: Some ads promise “automatic passport” or “guaranteed permit.” Turkey’s programs are real, but files are document-driven and area-dependent. Verify each claim against official guidance.

Evidence of the broader foreign-buyer context

Foreign sales level: TÜİK reports 23,781 homes sold to foreigners in 2024 (-32.1% YoY), with Istanbul and Antalya leading by volume. Russians, Iranians, and Ukrainians comprised the top three nationalities that year.
Trend into 2025: The share of foreign transactions has stayed well below the 2022 peak; however, Chinese buyer interest is repeatedly flagged by sector specialists and platforms, particularly tied to the $400k citizenship and document facilitation (apostille) since late 2023.

Step-by-step for the $400k citizenship path (simplified)

Pick qualifying property(ies) (built; condo/servitude/occupancy compliant).
Independent valuation via approved channels.
Open Turkish bank account; transfer funds; get FX certificate; pay seller via bank.
Title transfer with 3-year no-sale annotation (or notary preliminary sale meeting the one-contract rule for off-plan).
Apply for the Property Investment Determination Certificate (formerly “conformity”).
File residence then citizenship for main applicant and eligible family members.

Frequently Asked Questions

1) Can Chinese citizens freely buy homes anywhere in Turkey?
Generally yes, but not in military/special security zones; and land-only comes with strict two-year project obligations. Built units in permitted areas are the safest route.

2) Is the $400,000 citizenship rule still valid?
Yes, with clarifications made in late 2023/early 2024 on eligible property types, documentation wording, and no-sale annotation.

3) Can I combine several apartments to reach $400k?
Yes—commonly done—if structured correctly and consistent with the single-contract rule for off-plan/notary promise cases introduced by the guideline updates.

4) What if I only want residency, not citizenship?
Property ownership can support a short-term residence permit, subject to value criteria and neighborhood closures; plan area + valuation carefully.

5) Do I have to convert my currency to TRY?
Yes. Foreigners must obtain a Foreign Exchange Purchase Certificate via a Turkish bank; this paper trail is verified at title and — for citizenship — again later.

6) Are there tax surprises?
Expect title deed fee (4%), valuation costs, translator/notary fees, and VAT on first-sale developer units (rate depends on category).

7) How did the apostille change help Chinese buyers?
From Nov 7, 2023, Mainland China issues apostilles—making cross-border document use simpler and faster than the old consular legalisation chain, which eases banking and title/citizenship filings.

8) Can I rent out the property?
Yes, but apply local regulations: short-term letting requires permits and platform compliance; long-term leasing needs standard Turkish contracts and income tax declarations.

9) Are there risks of fraud?
As with any hot market: overvaluation, encumbrances, non-qualifying assets, or closed neighborhoods for residence can trap buyers. Insist on lawyer-led title/valuation/FX trail controls.

Final counsel

Start with the end in mind: Decide whether your priority is citizenship, ikamet, or pure investment yield—this choice determines property type, location, and paperwork.
Verify the ground rules each time: Thresholds, lists of closed neighborhoods, and technical wording in FX certificates/bank receipts are living rules. Ask your counsel to check the official TKGM and Migration pages the week you transact.
Lawyer-led closing: Run title, valuation, encumbrance, and FX-trail checks; match every figure and ID across the deed, valuation, FX certificate, and bank receipts—this is what convinces the authorities during citizenship review.

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