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Increasingly, people and firms are
interested in purchasing real property in
Turkey. The reasons for doing so are very
diverse.
Turkey is a very popular holiday
destination, not in the last place because
of the country’s immense coastline and the
Mediterranean maritime climate. Many private
persons therefore think of buying a holiday
home in Turkey.
A second important reason is that Turkey has
a fast growing economy, making it a very
interesting country to invest in. These
investors are also confronted with the
purchase of real estate in Turkey.
In the UK purchasing real estate is a matter
for the public notary who takes care of all
the legal aspects involved. The question is
how a UK national can become the owner of
real estate in Turkey. Which steps must be
taken? Which aspects to pay attention to?
This section provides a brief explanation
how a foreign person can become the owner of
real estate in Turkey and which problems may
arise in the process. Acquiring real estate
is a complex matter where much depends on
specific circumstances. It is therefore
important to realise that this brochure can
only provide a general introduction.
Above all, buying a home in the sun should
be an experience that is a pleasure for you.
Buying a property in Turkey is a lot easier
than in many other European countries in
order to acquire the title of a property, an
application has to be submitted to the local
Land Registry Office in which the property
is situated. After carrying out necessary
searches and checks for the above mentioned
requirements, the transfer of the title is
done by the Land Registry Office. In Turkey,
it is legally compulsory for both sides (the
seller and the buyer) to be present at the
entry in the property register.
 Information
about real estate acquisition for foreigners
in Turkey. The reasons for buying a property
at the
Turkish Riviera
1. The mild climate with more than 300 days
of sunshine.
2. The beautiful landscape of the Turkish
Riviera.
3. A valuable investment as the prices are
increasing every year. Turkey is like Spain
was 20 years ago, and if entry into the E.U.
is
gained we are set to see prices rise even
more.
4. The low cost of living, which is much
lower than most other European Countries.
5. The property could provide you with an
additional income. As a European you can
purchase with complete safety, as the
conveyance
is easy and uncomplicated
6. Low crime rate
7. Modern network of roads served by taxi
and buses
8. Archaeological monuments
9. The European quality and rather low
prices in cafes and restaurants
10. Fresh fruits and vegetables all the year
round
11. Aircraft service with many countries of
the world cities and cities of Turkey
12. Highly developed system of
telecommunications
13. Rather inexpensive and accessible
high-quality health services
14. Wide use of the English language and
opportunity of dialogue on many others.
15. Satellite TV broadcasting English,
American and other foreign channels
Purchasing
and legal issues
Sun Invest offer properties to suit all
budgets. Our staff is at your service to
help you with all the formalities at every
stage of the purchase. Buying a property
through Sun Invest in Turkey makes
purchasing easy and risk free.
Conveyance is executed in the Land Registry
Office, which is a State Department. No
other department, authority or person has
the power to transfer deeds to your name.
The new owner of a property receives a
“Title deed” (Tapu) in Turkish. Tapu is the
official document proving ownership of a
property.
Step
by step guide to formalities
Important Points for buying:
- What
nationalities are permitted to purchase a
property?
Turkey has a reciprocal agreement for the
purchase of land and properties with the
following countries; Germany, Austria,
Switzerland, Belgium, Holland, England,
Ireland, Russia, Spain, Italy, Canada,
Luxembourg, Norway, Australia, France,
Greece, and some other African and South
American states.
- Do I have to
be a resident or have a resident’s visa to
purchase?
No, To buy a property you do not have to
have a Residents visa. This is only required
if you want to stay longer than three
consecutive months, or wish to have a phone
or buy a car. Then the three months tourist
visa is not enough.
- Do I have any
Taxes and fees to pay for the purchasing?
There are some taxes payable, however some
are a “once only tax” i.e. 3 % of the
declared value of the property, Education
and earthquake tax approx. 50 € All formal
documentation and copies approx. 75 €
Translator fees approx.
- If I sell my
property can I take the proceeds back to the
U.K.?
Yes.
- Can I will my
property to my beneficiaries?
You can make a Turkish Will and leave your
property to your beneficiaries, however if
you hadn’t made a will, the property goes to
your next of kin.
- Can I import
my belongings/furniture and car into Turkey?
You can, but it is expensive for
transportation and Duty, so it may be
advisable to purchase
your furniture here.
- How long does
it all take?
It takes approx. 6-8 weeks to receive the
final Tapu (Title Deeds) first it goes to a
regional Tapu office then to a Military Head
office in Izmir to check that it isn’t in a
Military Zone. This is just a formality. If
everything is approved then it takes just
one day to complete. You then go to the Tapu
office with a translator to sign the
appropriate documents.
Additional
costs & information
Conveyance tax:
3% of the property value stated in the Tapu
Office. This is paid at one of the State
Banks at the time of conveyance (the amount
stated in the Tapu Office is lower than the
real property value) and paid at the Ziraat
bank..
Property tax:
0,1% of the property value declared by the
local municipality (to be paid before the
end of May each year).
Fee
for certified translator at the Tapu Office:
50 Euro (A certified translator is required
by law to translate the document to the
foreign national).
Fee for
certified translator at Notary Public:
50 Euro.
Registration Fee
at the Tapu Office:
45 Euro.
Costs for the
official Tapu approval by Izmir
30 €
Costs
of electricity, water and telephone
Registration of a new connection (once only)
130-170 €, Transfer
of an existing connection (once only)
40 €
Costs per kWh 0,13
euro cent
(with Iskan)
Costs per kWh 0,27
euro cent (without Iskan)
Water
- Registration of a
new connection (only once)
65-90 €
- Costs per m³
0,69
€ (with Iskan)
- Costs per m³ 1,42 € - 2,28
€ (without iskan)
Telephone
Monthly 6,30
€
Costs to:
Europe - Germany, UK,
Denmark, Netherland per
minute unit 0,09
€ |
