How to convert real estate in Turkey from residential to commercial

We will discuss in detail how to convert real estate in Turkey from residential to commercial type and we will review the important steps and required documents, and in addition to the challenges and potential benefits of this process, we will present practical examples and real-life experiences that highlight the importance of this step and how to implement it successfully.

Factors to consider when transferring real estate in Turkey

Before you begin the steps related to converting the type of property you own, there are many things that must be verified, the most important of which is making sure that your property is not subject to any restrictions that hinder this process, such as the presence of a seizure, mortgage, or confiscation and to verify this, you must go to the Land Registry Department and inquire about the condition of the property and this comes because you will not be able to determine these aspects through the signs appearing in the title deed alone

All title deed data can be found in the electronic system of the real estate registry or cadastral survey, so the person who wishes to change the type of property must verify that the property is already registered in the real estate registry, and it must be taken into account that unregistered properties have no legal value and are not recognized even if there is an agreement between the seller and the buyer and therefore, one must be careful and cautious in this matter and avoid making such mistakes, as purchasing a property without verifying the validity of the title deed can lead to legal and financial problems.

Therefore, it is important to verify the validity of the title deed in real estate departments before signing any contracts for buying and selling real estate in Turkey, even when signing in front of a notary public and despite the prevailing belief that signing the contract in front of a notary is sufficient to guarantee the validity of the real estate deed, reality shows that there are many experiences that confirm that this is not always true and in some cases, the deed may be forged or illegal, and even in authentic cases, the property may have been sold to multiple people, leading to multiple claims of ownership.

What are the necessary papers to transfer the type of real estate in Turkey?

1. A copy of the real estate taboo or title deed whose type the property owner wishes to change at the Land Registry Department.
2. A certified copy of the property owner’s identity, which must be an exact copy.
3. A recent personal photo of the property owner
4. A document known as the “written declaration,” which is usually issued by the municipality and state in which the property is located and this document proves that there are no legal obstacles preventing changing the type of property.
5. The approval of all other owners of the residential units (apartments) in the building whose type is to be changed and their approval must be obtained before submitting a request to change the property type.

Features of real estate in Turkey 

1. Turkey offers a variety of residential options, from apartments and hotel apartments to villas and traditional houses, you can choose the property that suits your needs and preferences.
2. Compared to many other European and international countries, real estate prices in Turkey are considered reasonable and appropriate and this gives investors the opportunity to obtain a good property at a reasonable cost.
3. In recent years, Turkey has introduced programs that give investors the opportunity to obtain Turkish citizenship, a Turkish passport, and real estate residency by investing in real estate and this enhances the attractiveness of the real estate market.
4. Turkey is very popular as a destination to live, as it has good infrastructure, advanced public facilities, a diverse culture, and a moderate climate.
5. Investing in real estate in Turkey is one of the fastest growing sectors, which indicates the sustainability of the market and the possibility of obtaining good returns on investment.
6. There are tax exemptions and facilities for foreign investors in Turkey, which makes the investment process more attractive.
7. Turkey is constantly developing infrastructure, which enhances the comfort of living and adds to real estate value
8. If you do not intend to use the property permanently, you can rent it out to locals or tourists, which can have a positive impact on investment returns.
9. Turkey is located in a strategic place that combines the European and Asian continents, making it an important commercial and tourist center.

Which is the best real estate in Turkey , residential or commercial?

Let's take a look at this comparison between residential and commercial properties in Turkey :

1. Financial return:

Residential real estate in Turkey is usually lower in financial returns compared to commercial real estate, but it provides stability and provides a moderate return in the long term.

Commercial real estate may provide greater financial returns due to higher leases and higher prices for good commercial properties.

2. Versatility in use:

Residential properties are used for housing only, and are intended to meet the residence and daily life needs of residents.

Commercial real estate can be used for a variety of businesses such as shops, offices, restaurants, and hotels.

3. Impact on the local economy:

Residential real estate in Turkey contributes to providing shelter for residents and enhances the stability of residential communities.

Commercial real estate contributes to supporting the local economy by creating job opportunities and promoting business.

4. Investment risks:

Residential real estate in Turkey is usually considered less risky due to the stability of the housing market and the continuous demand for residential properties.

Commercial real estate may be more vulnerable to fluctuations in the commercial real estate market, and may be affected by changes in the economy and business.

5. Management requirements:

A residential property can be less complex to manage and maintain, as residential leasing is usually more stable.

Commercial property may need more complex management as a result of leasing to companies and businesses.

6. Flexibility of contracts:

Residential contracts may be more flexible in some cases as the market moves towards short-term rentals.

Commercial contracts can be more complex and time consuming compared to residential contracts.

In conclusion, we find that the process of converting real estate in Turkey from a residential type to a commercial type is considered a strategic step that requires careful planning and specialized consultation and this step can be beneficial for individuals and companies who want to exploit business opportunities and achieve sustainable financial returns

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