TAPU in Turkey in 2022
Abstract
What types of TAPU certificates are there? There are two types of TAPU certificates in Turkey: the red TAPU is a certificate of ownership of a property with residential or commercial buildings: apartments, cottages, private houses or commercial premises;the blue TAPU is a proof of ownership of the land, usually agricultural plots where housing can be built, and livestock or crops can be grown. The new forms include a property identification number and a QR code with a link to the information about the property and its owner. The appearance of the form has changed: detailed information about the property and its previous owners has been removed, while the net and gross areas of the property have been added, along with the information about owners and their shares. Step 1: Choosing a property First, the buyer has to select a property, taking into account the following restrictions for foreigners: foreigners cannot own more than 10% of the area of ββa district that is in private ownership;foreigner cannot own more than 30 hectares of land throughout the country;foreigners are not allowed to purchase property in strategic, military and other protected areas in Turkey;the purchase of real estate in privately protected areas is possible only with the permission of the governor of this area;Russian and Ukrainian citizens cannot buy real estate on the Black Sea coast. The property market overview in 10 Turkish cities with the largest number of residential property deals Step 2: Verifying and purchasing the property Suitable properties should be checked for encumbrances: judicial arrest, collateral obligations, priority right of redemption or right of residence. If the documents are in order and the buyer is satisfied, he opens an account in a Turkish bank, signs a sales contract, pays for the purchase and receives a Turkish TIN. Step 3: Conducting an appraisal of the property To obtain a TAPU in Turkey, an appraisal of the property's market value is required. Step 6: Paying duties and taxes The property's owner needs to pay a tax, which is 4% of the cadastral value of the property.
