Glossary
In this business most losses come not from bad faith but from a single word nobody explained. These are the terms I most often have to explain in meetings: short, plain, and from the field.
Revenue-sharing construction is a model in which a landowner gives their plot to a developer and, instead of payment, receives an agreed number of units in the building to be constructed. Most new urban construction in Turkey runs on this model.
Read the termZoning status is the official document showing what may be built on a plot. It sets out the development right, the permitted number of floors, setback distances and intended use, and is obtained from the municipality.
Read the termFloor area ratio is the ratio of total enclosed construction area permitted on a plot to the plot's own area. On a 1,000 square metre plot with a ratio of 1.50, a total of 1,500 square metres may be built. It is also referred to as KAKS.
Read the termConstruction servitude is the right established over a unit in a building that is not yet complete. Freehold title is the full ownership right established once the building is finished and the occupancy permit has been obtained.
Read the termLand share is the proportion of the shared plot beneath a building that belongs to an individual unit. It is written on the title deed as a share and must be set in proportion to the unit's size, position and value.
Read the termThe occupancy permit, formally the building use permit, is the document showing that a building has been completed in line with its project and with legislation. It is obtained from the municipality and formally registers the building as ready for occupation.
Read the termA title deed is the official document showing ownership of a property. In Turkey deeds are distinguished by construction stage into land title, construction servitude title and freehold title; and by ownership structure into sole title and shared title.
Read the termThe title deed fee is the tax paid to the land registry on property transfers. As of August 2026 the rate is four per cent of the sale value declared on the deed; by law two per cent falls to the buyer and two per cent to the seller.
Read the termA valuation report is the official document in which an appraiser licensed by the Capital Markets Board establishes a property's market value. It is compulsory in sales involving a foreign national and is valid for a maximum of three months from its date of issue.
Read the termAn annotation is a note or restriction entered on a property's land registry record that binds third parties. A mortgage is a right established over the property as security for a debt and registered on the deed.
Read the termDASK is the compulsory earthquake insurance run by the Turkish Natural Catastrophe Insurance Pool. It is a legal requirement for buildings within its scope, and the policy is requested during title transfer.
Read the termA power of attorney is the official document by which one person transfers the authority to act on their behalf to another. For transactions such as a title transfer it must be drawn up before a notary and the authority stated explicitly.
Read the termAcquisition of real estate by foreign individuals in Turkey is governed by Article 35 of the Land Registry Law. As of August 2026 a foreign individual may acquire at most 30 hectares nationwide, and their holdings may not exceed ten per cent of the privately owned area of any one district.
Read the termMilitary restricted zones and security zones are areas in which foreign individuals cannot acquire property. The check is carried out by the land registry after an application for transfer is made.
Read the termThe potential tax identification number is issued to foreign individuals who have no existing tax liability in Turkey. It is required for title transactions, opening a bank account and setting up utility subscriptions.
Read the termThe foreign currency exchange certificate must be presented to the land registry when a foreign individual acquires property by purchase. The requirement came into force on 24 January 2022.
Read the termOwning property in Turkey does not by itself confer a residence permit. A short-term residence permit application can be made on the basis of ownership; as of August 2026 the property value threshold sought for this route is 200,000 US dollars.
Read the termThe technical specification is the contract annex defining, item by item, which materials and standards a building will be constructed to. In revenue-sharing contracts and off-plan sales it is the document that determines what you will actually receive at handover.
Read the termAn independent unit is a part of a building suitable for use on its own and capable of separate ownership. Apartments, shops, offices and separate storage rooms fall within this definition. The subject of a title deed is not the apartment but the independent unit.
Read the termGross area is the total area of a unit calculated including wall thicknesses and a share of the building's common areas. Net area is the internal space actually used. The same apartment can be described as two different figures under these two measures.
Read the termCommon areas are the parts of a building all owners use together: entrance, stairs, lift, parking, social facilities and gardens. The service charge is each owner's allocated share of the running and maintenance cost of those areas.
Read the termThe handover protocol is the document recording that a unit has been delivered to the buyer and the condition it was in at that moment. Once signed, the ground for objecting to visible defects not written into it narrows.
Read the termConstruction supervision is the body inspecting whether a build is carried out in line with its project and with legislation. Supervision is compulsory, and the body is a legal entity separate from the developer doing the work.
Read the term