Turkey’s southern coast is one of the largest property markets for German-speaking buyers. Antalya, Alanya, Side, Bodrum, Fethiye - prices are low, the sun shines, and the flight takes three hours. It sounds like an easy investment. In practice it is more complicated.
Ownership law
Foreigners can acquire property in Turkey - with restrictions. Plots and houses in rural areas require military clearance. Near borders and in certain military zones, purchase by foreigners is prohibited. The maximum plot size per person is capped at 30 hectares.
The TAPU (land-register entry) is the central ownership document. No TAPU, no ownership. But a TAPU alone is not enough - it only confirms ownership, not the building status. Whether the building on the plot is legal, whether it has an Iskan (occupancy permit), whether extensions are approved, is not in the TAPU.
Typical trap: in Alanya and Antalya, apartments are sold in complexes that have no Iskan. Without an Iskan there is no legal water and electricity connection (often solved unofficially), no insurance, and significant problems on resale. Always ask for the Iskan - not just the TAPU.
The lira risk
The Turkish lira lost over 80% of its value against the euro between 2018 and 2026. That makes property in Turkey nominally cheap for euro buyers. But it has a flip side.
Purchase prices are increasingly quoted in EUR or USD, not in lira. Construction costs rise rapidly in lira (inflation). Developers who sell in EUR but build in lira have good margins while the lira is stable. With further devaluation the margins shrink - and with them the incentive to deliver quality. That explains why build quality on many Turkish projects has declined in recent years: the calculation only works if material and workmanship are cut.
For investors: the resale value in EUR is incalculable. You buy today for 120,000 EUR; in three years the Alanya market may say 90,000 EUR for a comparable unit - because the lira has fallen further and new projects are offered even cheaper. Anyone buying in Turkey should see it as a place to use, not a capital investment.
Build quality
On the Turkish Riviera there is heavy construction. Large complexes with pool, gym, concierge - attractive on paper. In reality I regularly see: thin walls (hollow brick 15-20 cm without insulation), facades that crack after three years, flat roofs that are not watertight, plumbing that bursts at the first frost, and lifts that fail after two years.
Earthquake risk: Turkey lies in one of the most active seismic zones in the world. Since the 2023 earthquake in Kahramanmaraş (over 50,000 dead), the question of earthquake safety is no longer theoretical. For every property, ask for the earthquake certificate (Deprem Yönetmeliği) and the year of construction. Buildings before 2000 usually do not meet current codes. Buildings after 2018 should comply with the tightened rules - whether they actually do is another matter.
Developers and off-plan
The off-plan market in Turkey is huge - and largely unregulated. There is no mandatory bank guarantee for deposits as in Spain. No escrow account is required by law. You transfer directly to the developer and hope he finishes building.
What I check: is the developer registered in the trade register (Ticaret Sicil)? Does he have completed reference projects - finished, not planned? Is there a building permit (Yapı Ruhsatı)? Is the payment plan tied to construction progress? Is there an Iskan schedule? And does the contract include a right of withdrawal on delay?
Taxes and transaction costs
Transfer tax: 4% of the declared purchase price (split between buyer and seller, typically 2% each). Notary, translator, TAPU fees: together approx. 1,500-3,000 EUR. Agent commission: typically 3% from the buyer. Total transaction costs: 5-8%.
Annually: property tax (Emlak Vergisi) 0.1-0.2% of the taxable value, waste and maintenance. On rental: 15-35% income tax (staggered). Capital gains tax on sale within 5 years.
What does building in Turkey cost?
Turnkey: 600-1,200 EUR/m² on the southern coast, depending on quality. Premium (imported materials, European standard): 1,200-1,800 EUR/m². Note: prices fluctuate with the EUR/TRY rate. What costs 800 EUR/m² today can be 650 or 950 EUR/m² in six months.
My property check for Turkey
You send me the documents - listing, TAPU, Iskan status, purchase contract, photos. Within 48 hours: a structured report with a traffic-light rating. Ownership, building permit, build quality, earthquake risk, location, price.
750 EUR flat. No commission interest.
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