Türkiye, with its captivating landscapes, rich history, and growing real estate market, has become a hot spot for international buyers looking for second homes, investment properties, or a permanent move. But while the country offers plenty of affordable options, many buyers—especially foreigners—find themselves asking the same question: How do I finance a property in Türkiye?
Good news: whether you’re a local resident or a foreign buyer, Türkiye offers a range of mortgage options. Let’s break down what you need to know to make smart, informed choices about financing your property in Türkiye.
1. Can Foreigners Get a Mortgage in Türkiye?
Yes, foreigners can apply for mortgages in Türkiye, although availability may depend on your nationality and the specific bank’s policies. Most major Turkish banks offer mortgage products to non-residents, especially if the property is in a prime location like Istanbul, Antalya, Bodrum, or Izmir.
However, it’s important to note that not all banks are foreigner-friendly, and the documentation process might be more involved than what you’re used to at home.
2. Types of Mortgages Available
Turkish banks typically offer the following mortgage types:
Standard Fixed-Rate Mortgage
This is the most common option. You pay a fixed monthly amount over a set period—usually between 5 and 15 years.
Variable-Rate Mortgage
With these, your interest rate may fluctuate depending on changes to Turkey’s central bank rates. These are less common and typically riskier.
Foreign Currency Mortgages
Some banks offer loans in euros, U.S. dollars, or British pounds. This can be useful for expats earning in a foreign currency, but also comes with exchange rate risk.
Construction Loans
If you’re buying a property off-plan or building from scratch, construction loans are available—but often harder to secure as a foreigner.
3. How Much Can You Borrow?
Generally, foreign buyers can expect to borrow up to 70% of the property’s appraised value, though this may vary depending on the bank and your financial profile. You’ll need to cover the remaining 30% (or more) as a down payment.
Some banks may also set a maximum loan amount, particularly for non-residents, so it’s worth shopping around.
4. Mortgage Terms & Interest Rates
Loan terms typically range from 5 to 15 years, with shorter terms often getting more favorable interest rates.
Interest rates in Türkiye can fluctuate based on inflation and central bank policy, but as of 2025, you can expect rates between 3% and 6% annually for foreign-currency loans, and higher for loans in Turkish lira (TRY).
Tip: Always ask whether the rate is fixed for the entire term or if it may adjust after a certain period.
5. Documents You’ll Need
Be prepared to provide:
Passport and tax number (you’ll get this when registering in Türkiye)
Proof of income and/or employment
Credit report (from your home country or local if you have one)
Proof of address
Bank statements
Property appraisal (done by a bank-approved expert)
Some banks may ask for documents to be translated and notarized.
6. Working with a Mortgage Broker
If navigating the Turkish banking system feels overwhelming, consider working with a local mortgage broker who specializes in helping foreign buyers. They can simplify the process, connect you with the right lenders, and help negotiate better terms.
7. Alternatives to Mortgages
If you’re not eligible for a mortgage or prefer to avoid bank financing, consider:
Developer Financing
Some new developments offer payment plans directly through the developer. Terms vary but may include 0% interest over 1–5 years.
Personal Loans or Home Equity Loans from Your Home Country
Depending on your creditworthiness and local interest rates, it might be more efficient to borrow at home and purchase in cash.
Final Thoughts
Financing a property in Türkiye is absolutely doable—especially if you understand your options and plan accordingly. Whether you’re dreaming of a villa on the Aegean coast or a modern apartment in vibrant Istanbul, a well-structured mortgage can bring that dream closer to reality.
As always, it’s wise to consult with a local real estate attorney and a financial advisor before making any major investment abroad.
Thinking about buying property in Türkiye? Drop your questions in the comments below or get in touch—we’d be happy to guide you through your mortgage options.
