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Be careful when buying a property


When purchasing building land in Turkey, there is an important regulation for foreigners (as private individuals) that should not be neglected: If you buy a building plot (arsa) as a foreign private person, you have to submit a project and obtain a building permit within 2 years. If this is not done, the tax authorities (Maliye) can seize the building plot and sell it in an auction. In the auction, the entry value of the property is used as a basis. This can differ significantly from the purchase price.