Hotels for Sale and Lease in Istanbul and Turkey for Foreign Investors

Foreign investors can acquire a hotel in Turkey in four ways: buy the building, buy the operating business, buy both, or lease a hotel and operate it. Istanbul's boutique hotels are mainly in Sultanahmet, Beyoğlu, Galata and Karaköy, with others in Kadıköy; resorts are in Antalya, Bodrum and Fethiye. The title deed, licence, occupancy history and accounts decide whether the price is right. Bosphorus Brokers handles hotel searches and sales confidentially, as part of our commercial property service.

What are the options for buying or leasing a hotel in Turkey?

Buying the business can mean buying its assets or buying shares in the company that runs the hotel, and the two carry different liabilities. Your lawyer and accountant should advise on the structure before you make an offer.

On a lease, the term must be long enough to recover your renovation spend. Renewal increases may not exceed the 12-month CPI (TÜFE) average (Code of Obligations No. 6098, Art. 344), and a company tenant renting from an individual withholds 20% stopaj from the rent (Income Tax Law No. 193, Art. 94).

Where are hotels for sale in Istanbul and Turkey?

• Sultanahmet, Fatih: the historic peninsula, with small hotels in older buildings close to the main monuments.
• Beyoğlu and Galata: boutique hotels in and around the historic streets above the Golden Horn. See our Beyoğlu neighbourhood guide.
• Karaköy: next to Galata on the waterfront, with boutique hotels in older buildings.
• Kadıköy: boutique hotels on the Asian side, in a more residential setting. See our Kadıköy neighbourhood guide.
• Coastal resorts: Antalya, Bodrum and Fethiye, where resorts trade with the season, and the plot and beach access matter as much as the rooms.

Old districts carry an extra layer of rules. Buildings may be listed or sit in conservation areas, where alterations need approval from the relevant conservation authority. Build this into renovation plans and timelines before pricing the deal.

Which licences and permits does a hotel need in Turkey?

Hotels in Turkey operate either with a tourism operation certificate (Turizm İşletme Belgesi) from the Ministry of Culture and Tourism or with a municipal licence. These are different routes with different requirements, so find out which one the hotel holds, in whose name, and what happens when the owner or operator changes. Confirm this with the issuing authority, as rules change.

• Occupancy permit and zoning: the building needs an occupancy permit (iskan) and zoning that allows hotel use.
• Title-deed use: the tapu should match hotel use.
• Short-term rental rules: a block of flats let by the night is not a licensed hotel. Since 2024, Law No. 7464 requires a Ministry of Culture and Tourism permit to rent a residence for tourism (stays of up to 100 days) and, in buildings with several units, the consent of all other owners. Unpermitted lets face fines.
• Restaurant and bar: alcohol sales need an additional permit, which affects a hotel's food and beverage income.

What should you review before buying a hotel?

What we ask the seller for and check before an offer:

• Title deed and annotations: owners and shares, mortgages, and any annotations that restrict sale or use.
• Licences: the certificate or municipal licence, the holder, and any alcohol permit.
• Operating accounts and occupancy history: monthly figures covering several full seasons, with rooms and food and beverage shown separately.
• Staff: headcount, roles, contracts, and which managers stay after the sale.
• Booking channels: which online platforms, tour operators and direct-booking tools the hotel uses, and who controls the accounts, website and reviews after completion.
• Condition and renovation needs: rooms, lifts, building services, fire safety and structure, reviewed with technical experts where needed. DASK compulsory earthquake insurance is required for buildings.
• Historic-building restrictions: in the old districts, what can be altered and which approvals works need.
• Running costs: annual property tax (Law No. 1319) is charged at higher rates on commercial buildings than on homes.

The business side, including tax position, liabilities, staff obligations and contracts, is for your accountant and lawyer. We make sure they receive what they need from the seller.

Can a foreigner own a hotel through a Turkish company?

Yes. Foreign individuals can buy property in Turkey subject to Title Deed Law No. 2644, Art. 35: military and security zones are off-limits, foreign ownership is capped at 10% of a district's private land area, and each person can hold up to 30 hectares nationwide. The 30-hectare limit can matter for large resort plots.

Where you will also run the hotel, ownership through a company established in Turkey with foreign capital is the route to consider. Such a company can acquire property needed for its activities, with permission from the governorship after a military and security assessment (Law No. 2644, Art. 36; Foreign Direct Investment Law No. 4875). Allow for this permission in the timetable, and have a lawyer or accountant set up the company. See our guide to buying commercial property in Turkey.

New commercial property sold by a VAT-registered seller generally carries 20% VAT, while second-hand sales between private individuals generally do not. If Turkish citizenship by investment is part of your plan, raise it at the start: commercial property can qualify at USD 400,000 by official valuation, kept for at least three years, and the purchase structure must fit those conditions.

How does Bosphorus Brokers handle a hotel deal confidentially?

Hotel sales are sensitive: staff, guests and suppliers react to rumours. We can work under confidentiality agreements (NDAs) with both sides and release information in stages.

For buyers

1. Brief: location, size, budget, building, business or both, and your role in operations.
2. Confidential search: we approach owners, sign NDAs where sellers require them, and shortlist hotels against your brief.
3. Request list and site visits: the documents above, then visits planned around guests and staff.
4. Pricing and negotiation: asking prices compared with recent sales, the official valuation report arranged, and terms negotiated in writing.
5. Completion: tax number, bank account, translator, notary and land-registry appointment, and we accompany you at the title-deed transfer.

For sellers

We run a discreet sale process: an anonymous summary first, the hotel's name and figures only after an NDA, buyers screened before viewings, and viewings arranged around guests. Our property selling service explains how we market and negotiate.

On a sale or purchase of the property, our fee is 2% plus VAT from the buyer and 2% plus VAT from the seller, payable only on completion at the title-deed transfer. For business-only transfers and leases, the fee is agreed in writing before we start; see our fees.

Why do foreign hotel investors work with us?

• Licensed: authorised by the Republic of Türkiye Ministry of Trade, license no. 3408704, with the registered trademark "bosphorus brokers".
• Founder-led: Burak Ünal, Founder and Principal Broker, holds an MSc in Finance from the London School of Economics and a BSc in Business Management from Bogazici University, is a Chevening scholar, and passed the official broker licensing exam in 2021. His specialties include real-estate appraising, retail leasing, property management and development: valuing a building against its income, reading the leases behind it, and planning what it needs.
• Independent: we represent you and compare hotels across areas.
• Same fee for foreign and Turkish clients, paid only on completion.
• Multilingual and remote: the founder advises personally in English, Turkish and French; the team also works in Russian, Chinese and Arabic, with online viewings, digital documents and, where needed, a power of attorney.
• Istanbul and the coast: we also work in Antalya, Bodrum, Fethiye, Ankara and Izmir.
• Rated 5.0 on Google.

For a confidential first conversation, call or WhatsApp +90 533 140 04 96 or email contact@bosphorusbrokers.com.