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What nationalities can buy a house in Turkey?
Turkey has a reciprocal agreement for the purchase of land and properties with the following countries; Germany, Austria, Switzerland, Belgium, Holland, England,Denmark, Ireland, Spain, Italy, Canada, Luxembourg, Norway, Australia, France, Greece, and some other African and South American states.
What documentation will I need?
Your passport is the only documentation you will need to purchase a property in Turkey.
Do I need to obtain citizenship before I buy?
No, non citizens and non residents can buy a property in Turkey
Do I need a visa entering Turkey?
Yes, most nationalities require a Visa to enter Turkey. This can be obtained at Immigration once you arrive in Turkey - Visitors Visas currently cost 10 Euro for an Irish National and STG 10 Pound for a UK Citizen. Prices vary depending on nationality, so if you hold another passport, please check with your local Turkish Embassy.
How long can I stay in Turkey on the normal Visitors visa?
Visitor Visas are valid for 3 months.
Do I need to open a bank account in Turkey?
Most people do open bank accounts so funds can be transferred prior to travelling and so funds are available for contract completion. Direct Debits can also be set up to pay utility bills.
As a property owner, do I need to register for Tax in Turkey?
Yes, but this is a very straight forward procedure which we can guide you through.
Can I get a house and contents insurance in Turkey?
Yes, many well known international insurance companies and local Turkish companies offer building and contents insurance. Earthquake Insurance is now compulsory in Turkey and is readily available and a straight forward transaction.
How will I set up Utility Services - Gas, Electricity, Telephone?
As part of the buying process we will assist you to do this. Telephone Lines are offered to non nationals who gets residence permit for 5-10 years in Turkey. Mobile phones with Pay As You Go Cards are readily available.
Is satellite TV available in Turkey?
Yes, a wide range of satellite TV services are available in Turkey.
Will I be able to rent my property on long term or short term basis and if so what can I expect to get rental?
Turkey is an ever increasing destination for Europeans, and resorts are also popular with Turkish tourists during the summer months.Long term Rentals are normally on 6 months or 1 Year Basis. 6 month rentals would normally be for summer months, so if you want to use your property, then long term options would not be feasible.
Properties can also be let out on a daily and weekly basis. Prices are property and time of year dependent.
If I want to sell my property in Turkey, are there any restrictions and what are the costs?
Resale costs would be approximately 5% comprising of sales tax, local documentation and legal fees. Property may be sold to Turkish, or foreign nationals without restriction.
Because of the change in law (Decree 32 August 1989) the lira is now convertible so proceeds of the sale of a property can be converted to what ever currency and subsequently transferred to any country you choose.
What are the medical and dental care facilities in Turkey?
Turkey has both public and private facilities available. Private facilities are to a very high standard and costs are approximately 40-50% cheaper than other European countries.
Can we get private health insurance in Turkey?
Yes, Private Health insurance is readily available in Turkey and costs again are
considerably cheaper than at home. Individuals who are travelling to Turkey for 3 months or less and hold private health insurance at home should be covered, but please check this with your Insurer before travelling.
Will I have to pay tax or charges when bringing funds into Turkey?
There are no government charges for transferring funds but your bank at home will charge you transfer fees and receiving banks in Turkey normally have a small charge also. There are government tax charges when buying a property and annual property taxes also.
If I sell my property, can I freely transfer my funds out of Turkey?
Yes, Turkey has a very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies. Again small bank charges may apply.
What legal representation should I have when buying a property in Turkey?
Under Turkish Law, no legal representation is needed when buying or selling a property in Turkey as all documentation issued by the Land Registry Office are legally binding in their own right.
ABOUT PROPERTY
Whilst property prices in Europe are on the increase (making it difficult to buy a house in the sun) the Turkish Property market is low in comparison.Turkey is almost approaching full EU membership and with its stable economy is attracting large foreign investment companies.Construction is controlled by EU standards .It has never been a better time to Invest for the future.
We believe that our honesty, experience and quality of service will put us head and shoulders above the rest.
Turkish Houses real estate construction company is here to help you to find the best overseas property available in Turkey .
If you are looking to buy property in Turkey safely and as profitably as possible then you should get in contact with us .
Buying Procudure
Buying a property in Turkey is not as complicated as you may think, although it can be time consuming but we aim to make the process as easy as possible for you.
Foreigners are able to purchase land and property under their own names.Once a sale has been agreed an application is made to the local land registry office to acquire the title deed of the property (known locally as tapu).
A copy of your passport is sent to the Ministry of Defense for authorization which can take from 6 to 10 weeks. Once all the checks on the property or land have been carried out and the authorization has been returned from the Ministry of Defense the title deeds will be changed into your name.
Should you decide to sell your property you can do at any time and are free to take the money out of the country.
BUYING OFF-PLAN
We can give you great offers, especially if you buy `off plan`. Choosing to buy `off plan` property can benefit you in many ways. When buying your off plan property you may have a short time to wait for your property to be completed, but your money will be working hard for you in that time. Holding on to the property for a longer term means you can benefit from the fast growing property market and have a great holiday destination while your investment is appreciating.
With property prices increasing annually, imagine the possibilities if you also `buy low` in such a market. Off plan property is a great investment option and you will get a great return for your money and remember, the earlier you buy, the less expensive your total purchase price will be.
Buying off plan property is a brilliant option.
Why not consider the option, and Have a look at the `off plan` properties we have available and you will soon be enjoying your own property investments.
Do yourself a favour and `buy` off plan property.
If I buy a property in Turkey how does the payment schedule work?
Buying a home in Turkey is a much more straight forward process than in Europe. We will advise you of legal requirements assist with payment schedule for your property and offer unlimited practical help until the completion of the sale. You dont need a lawyer for the procedures at the Land Register Office; it is not a legal requirement. If you wish to be advised by a solicitor to verify all the process we can recommend you a reputable solicitor who speaks your language and will draw up contracts for you to sign with our company.
We strongly recommend you to set up a bank account in Turkey as this is the best way to transfer funds both in and out of the country and is also ideal for arranging direct debits for running costs of their new home and you should also obtain a tax number. We will be more happy to assist in this as a part of our service.
When you sell your property in Turkey, you are free to transfer the proceeds of the sale out of the country.
Once the sale agreement has been made, drawing up the agreement of the proposed purchase price and proposed date of `close of sale` will be under our consideration.
The documentation will be written both in Turkish and English and relevant copies will be given to both the buyer and seller and the final copy will be submitted to the Land Registry Office for application of sale and transfer of names on the Title Deeds. This process can take up to 10 12 weeks.
Final Step
The last closing sale process will be held at the Land Registry Office. On this step the Title Deeds and keys will be exchanged and the balance due on the purchase price in the presence of an official interpreter.
The Land Registry Office will ensure that all debts, bills and charges on the property have been finalised and paid by the seller prior to closing the sale and exchanging of deeds. All fees are payable on the day: title deeds tax, Notary. Finally you can get your title deeds and key of your Turkish home.
WELL DONE YOU HAVE FINISHED SUCCESSFULLY ALL THE STEPS. NOW YOU ARE THE LEGAL OWNER OF YOUR DREAM HOME IN TURKEY
CONGRATULATIONS!!!!
What does it cost to run a home in Kusadasi or Didim ?
There are property taxes payables annually between 100 150 Euros on all properties. Utility bills are easily managed from home. The cost of life in Turkey is significantly lower than in many European countries.
Electricity, water charges and community fees are paid by direct debit. Most banks offer an online facility allowing you to keep track of payments from home.
Running costs
For an overview of all taxes and running costs to pay read below.
Legal Fee: 250 approx
Property surveys Fee - 100 approx
Interpreter Cost: 100 approx
Title Deeds Tax: Depends on the square meters of the property, the property location and the title deed value of the property and is calculated by the County Council and Title Deeds Office.
Property Tax: 100 per annum (recalculated annually)
Water & Electricity Connection Fees: 300 approx
Electricity Charges: Approx 0.10 per a kilowatt.
Water Charges: Approx 0.60
Earthquake Insurance: depends on square metres. For example a 100m2 house in Kusadasi cost approximately 100 annual. Earthquake Insurance renewable annually and is mandatory.
Community Tax: 12 per annum for local services.
Community fees: With most types of Turkish property you will have to pay a community charge to cover the cleaning of communal pool, care of common green areas gardens etc. The rubbish collection charges are included in these fees. The amount you have to pay depends on the number of properties within the community and the services that the community agrees on. This could cost around 20 per month in a larger community.
In the case of when the client can not return to Turkey to close the sale before they return home they will have to appoint a person as Power of Attorney to close the sale on their behalf. This process is organized by The Notary Office who will submit an official contract so all parties concerned will understand the agree and an official interpreter has to be present. There will be little extra cost for Notary Office.
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