Converting a residential property into a commercial property

The real estate sector in Turkey has recently become the most popular sector by foreign investors, especially after the amendments to the citizenship law. Some of them may go to buy commercial real estate, not residential, in order to increase their investment profits, and after delving into the real estate field, some may see that their choices were wrong, especially since Investing in commercial real estate is more difficult than residential real estate, Also, many of them began to fear the economic crises and their reflection on real estate prices, as happened after the Corona pandemic, as most commercial projects had closed their doors and stopped their work, which negatively affected the owners of commercial real estate after it became empty, which raised the question among some investors about the possibility of transferring This commercial property into a residential property after the demand for commercial real estate declined and the demand for residential real estate increased as it is the requirement of every person who wants to live in Turkey.

How to convert commercial real estate into residential real estate: Some believe that the process of converting commercial real estate into residential real estate is impossible, but otherwise it is a simple matter that requires the availability of some official documents, which are

  1. The title deed or title deed of the property whose owner wishes to change its type at the Land Registry Department.

  2. A true copy of the identity of the property owner.

  3. A personal photo of the property owner.

  4. A document called the written declaration extracted from the municipality and the state in which the property is located, proving that there is no obstacle to changing the type of property.

  5. The approval of all the neighbors who are owners of "apartments” in the building to be converted.

Convincing all property owners that reside in the building to which his property belongs is one of the most important steps, as if the owner succeeds in completing this difficult step, he is considered to have practically succeeded in achieving his goal in full, because the following steps include a set of official procedures in state departments It does not take a long period of time on the one hand, and it is considered easy and guaranteed approval on the other hand, as the most important condition that the municipality requires is obtaining the approval of the residents or the neighbors in the building

Before proceeding with the procedures for transferring the type of property, it is necessary to ensure that the property is not subject to restrictions that prevent the process such as seizure, mortgage, confiscation and others by going to the Land Registry Department and inquiring about that.

Then the procedures for transferring the type of real estate registry start, knowing that just as the owner of the property can convert it from a commercial property to a residential, he can, in return, convert it from a residential property to a commercial property with the same conditions mentioned previously. The Turkish government approved these facilities in order to encourage capital to invest in Turkey.

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