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It is possible to get refund for unfair profit of excess payment on real-estates in Turkey that were sold on overcharge than the actual value of the real estate to the foreigners that were buying the real estates for the purpose of investment, residence permit or citizenship.
In recent years, real estates were sold on higher prices than their real value, especially in the provinces of İstanbul, Trabzon, Bursa and Yalova, particularly to the Arab Citizens. Those real estates cause losses to its investors by not reaching its real value even after so many years following the overcharged buying price. This situation is more common when real estates are sold with investment projects, from models long before they are built. Claiming your legal rights will be sufficient enough to solve this abuse.
In Turkish Law, its protected by Law to take refund for the excessive payment when a real estate is sold for more than its real value. Because of this reason, it is possible for you to demand and get a refund for the excessive payment you made for a real estate by taking legal action.
For example; while a value of a real-estate in Istanbul is 1.000.000 Turkish Lira in the year of 2015, if that value is same 1.000.000 TL or less after 5 years in 2020 despite of real-estate index, it means that real estate was sold to you for a money more than its real value. When it is checked that past value of that real-estate in the year of 2015 is 450.000 TL ,you can demand a pay back from the seller for the overcharged amount of 550.000 TL that you made as a loss. Thus exploitation of a foreign investor will be prevented.
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