Glossary of Terms for buying property in Turkey
Glossary of Terms for buying property in Turkey
Here is some terminology you should become familiar with if purchasing real estate in Turkey.
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Image by Tim Moffat via Flickr
This article is intended as a preliminary guide only and refers to some but not all elements required to consider in detail prior to starting any property dealings or due diligence. Property dealings are often complex, especially in foreign countries and we highly recommend you seek independent professional advice... read more...
There are certain terms in real estate in Turkey that you may not be familiar with. These terms are useful to know when looking at real estate or living in Turkey.
ISKAN
An ISKAN is a permit given after the municipality sends the fire department, the City Defense Department, engineers and architects to approve construction allowing residents to live in that house, apartment or villa.
Military Check
Turkish law states that foreigners can buy up to 30 hectares, but cannot buy property within military zones and cannot buy property that amounts to more than 10% of a designated district.
DASK
Earthquake insurance that needs to be renewed on a yearly basis.
Reciprocity principle
Countries that allow Turkish citizens or legal entities to own property in their country are allowed to acquire property in Turkey. Citizens of most EU countries (except for Belgium, Cyprus, Czech Republic and Slovakia), the United States, Canada and other countries in Asia, Latin America and Africa can freely purchase properties in Turkey.
Lira
The currency of Turkey
See also:
Turkish citizenship offered to foreign property buyers
This article and the above linked artciles are not complete and are intended as preliminary guides only. These guides refer to some elements to consider prior to starting any property dealings or due diligence. Property dealings are often complex areas, especially in foreign countries and we highly recommend you seek independent professional advice... read more...
