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. It is advisable to call in an expert once concrete plans have been made to purchase real estate in Turkey. In this way you avoid the danger that acquiring the estate turns out to be an illusion.
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. During the transaction, the proofs or the documents concerning the transfer of the full purchase price into Turkey must be presented to the Land Registry Office.
Information about real estate acquisition for foreigners in Turkey. The reasons for buying a property in the Antalya Region
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 convayancing is easy and uncomplicated
6. Low crime rate
7. Modern network of roads served by taxi and buses
8. Archeological 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
Importing 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.?
- 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.
● First class architecture.
● Very high quality of building materials.
● Reliable company with over 10 years of experience.
● One year guarantee for our workmanship, fittings, etc. The building its self is guaranteed for 10 years.
● Personal supervision from ourselves, from the beginning to the end of construction.
● Assistance in opening of an external bank account.
● Assistance in residence permit obtaining