Buying Property in Turkey

Buying procedure for Property in Turkey

Who can buy Real Estate in Turkey?

Turkey has a reciprocal agreement for the purchase of land and property with many countries. This means that the countries where a Turkish National can buy property, then the people of these countries can buy in Turkey.

Foreigners in the following countries can buy in Turkey: United Kingdom, Germany, Australia, Belgium, France, Holland, Spain, Ireland, Norway, Italy – to name a few.

Are Turkish Citizens and foreigners treated differently?

According to the legal framework, both Turkish citizens and foreign owners have equal property rights.

Are properties freehold or leasehold?

In general properties in Turkey are Freehold.

Types of residential buildings:

There are a wide range of options such as detached semi-detached, purpose built flats, duplexes (two floors) and luxury villas.

Are there any restrictions?

Provided that properties are located in towns – or within the boundaries of a municipality a foreigner can buy property. If the buyer is a foreign person, the deed office has to ask for prior approval or permission from the highest military command in the area. This is nothing to worry about. The reason for this is to ensure that foreign buyers do not acquire property within a military zone.

Selling a property in Turkey:

Capital gains tax does not have to be paid provided an individual has owned a property for one year. All proceeds from the property can be sent back to the UK if required.

Can I get a mortgage?

In order to buy a property in Turkey you can re-mortgage your property in the uk. Some companies are now offering Turkish mortgages.

Do I need a solicitor?

It is strongly advised that a solicitor is used.

Do I need to have a residents permit to purchase?

No

Residents Visas

If you are re-locating to Turkey for more than 6 months, then you are well advised to apply to the Turkish Government office for a residency. They will issue you with a document for you to present to the police near your new home who will in turn process the application.

What is the buying process?

1. The title of the property is checked
2. A check is made to confirm that the person selling the property actually owns it, respectively has power of attorney
3. Check whether there are any charges on the property
4. Where applicable, that the building licences and permissions are in order
5. The terms and conditions stipulated by the seller are checked for fairness. Once the sale agreement has been drawn up by the solicitor, the buyer and seller have signed it; the Tapu (title deeds) will be applied for. This can take from 8 to 12 weeks.
6. The title deeds will then be transferred to your name, which is signed in the presence of the notary. (Public official who is present to officially certify that the title deeds have been exchanged and understood by the parties concerned)
7. Then fees and taxes are to be paid
8. Then the title to be registered with the government land registry

Should I have the contract translated into my language?

It is advisable to have your contract in both English/ German/ Russian/ Norwegian and Turkish versions. You are strongly advised to use a Sworn-translator if you do not use an English speaking solicitor.

Documents required for the Tapu

• Passport and or ID card of the buyer
• Two recent passport photos

Do I need a bank account?

According to current regulations any monetary transactions which exceed 8,000 YTL (approx £3000) has to be made through banks, private financial agencies or post office. Also making your payments through the above systems allow you to document your property buying process. Obtaining a bank account is a very simple process. All you need is a tax number – obtained from the local tax office (this only takes a few minutes and is free of charge). The bank would then require a copy of your passport and your tax no card.

Do I need insurance?

It is compulsory to have earthquake insurance and it is recommended that you take out full home and contents insurance as soon as the house is registered in your name.

How do I pay my bills?

Bills can be paid directly from your bank account. Water bills are charged on the amount of water you use.

Electricity, telephone and water are billed monthly, quarterly or semi-annually-dependant on the suppliers choice

Can I bring furniture etc. into Turkey?

Items can be brought into Turkey – however this is a costly process.

Can I bring my pet into Turkey?

You can bring pets into Turkey as long as you can carry the live animals health/ vaccination certificate with you. Veterinary health certificate must be issued not more than 10 days before departure. The animal must have had a rabies vaccination within the last 6 months and not less than 15 days before departure. A person can bring 1 cat or 1 dog or 1 bird or 10 aquarium fish at most.

Personal information will not be passed onto third parties