Gayrimenkul

Gayrimenkul is the Turkish term for immovable property, including land and structures attached to it. It encompasses residential, commercial, industrial, agricultural, and mixed-use properties, as well as related rights such as easements. This category is distinct from movable assets and is primarily governed by real estate law, land registration, and urban planning regulations.

The real estate market involves buyers, sellers, developers, investors, and tenants. Prices are influenced by location, size, condition, zoning, and broader macroeconomic factors such as interest rates and inflation. Transactions commonly involve real estate agents or brokers, property appraisals, and financing from banks. The market also includes rental housing and commercial leases, which contribute to demand patterns and property management needs.

The legal framework centers on the registration and transfer of ownership. In Turkey, property ownership is recorded in the land registry, with transfers typically executed via title deed (tapu) at the appropriate registry office, after due diligence on title, encumbrances, permits, and compliance with zoning. Taxes related to real estate include transfer taxes, value-added tax on new properties, annual property tax, and stamp duties, among others. Regulatory considerations cover building codes, environmental rules, and urban development plans that affect use and value.

Ownership rights generally allow use, transfer, and mortgage of the property within the bounds of civil and tenancy laws. Leases are governed by formal agreements outlining rights and obligations for landlords and tenants, while property management addresses maintenance, evictions, and compliance with regulations.

Globally, gayrimenkul markets reflect urban growth and investment demand. In Turkey, activity concentrates in major cities and tourist areas, with regulatory updates shaping ownership rules, foreign investment frameworks, and incentives.