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Buying GuideBUYING A PROPERTY IN TURKEY Buying property in Turkey is not as complicated as you might imagine. The procedure is often far simpler than in most other European countries. Foreigners may purchase land and property in Turkey under their own names provided that properties are located in towns – not in villages or rural areas – and outside of military areas. After an agreed sale, in order to acquire the title deeds of a property, an application has to be made to the local Land Registry Office and the Military. Sometimes this process can take 8-12 weeks. The title deeds (Tapu) may be transferred once checks have been made to ensure the property meets all necessary requirements. Both seller and buyer (or their legally appointed representatives) must be present at the Land Registry Office to sign the necessary documentation. Other Information Turkey is becoming one of the best destinations in the world for property value growth. The Property Boom along the Turkish Riviera is well underway and we urge you to consider it seriously. Demand for Property in Turkey is on the increase. Turkey attracts approximately 15 million visitors a year and the tourism infrastructure is very well established. Turkey is the 3rd most popular holiday destination in Europe. In 2007 Turkish tourism is set to increase by 25%, making Turkey a great place for rental income. With many excellent facilities and English being widely spoken and the relaxation of the rules allowing foreigners to own Turkish real estate, this boom is likely to run for many more years. RESIDENTS VISAS If you wish to apply for a resident permit in Turkey, you should apply to The Police Headquarters, Aliens Department in the province where you reside. Applicants may be granted a resident permit for up to five years. Resident permit applications are usually processed and issued within1 month. Pending Applications: If you wish to leave the country and your application has not been resolved the Aliens Department will endorse your resident permit on one occasion only, giving right of residency for 15 days. Production of this endorsement upon departure from Turkey to immigration police should avoid a fine being levied. Taxes There are taxes to pay: Solicitors fee are usually 1% of the purchase price. Insurance Inc earthquake cover approx. £175. All formal documentation and copies approx. £200 Interpreter fees approx. £50 Water: Connection fee for new homes, approx. £55 Electric: Connection fee for new homes, approx. £80 Telephone: Connection fee £15 approx. |
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