1. What is the advantage of buying property in Turkey?
What is the advantage of buying property in Turkey?
Since Turkey has been given the date of October 2005 for starting negotiations to become a member of E.U., you will be able to double and even triple your investment within a few years. Real estate prices are still very attractive in comparison with E.U. countries, take your chance to make a good investment for your future. And with the last changes in the regulations on property ownership for foreign citizens, buying a property is a lot simpler now and living cost is incomparably cheap compared to the majority of European countries.
2. Am I able to purchase property in all parts of the country?
Except military zones foreigners may purchase land and property in Turkey under their own names, and a recent change in Turkish legislation (i.e.in the article 35 / dated July 3, 2003) permits foreigners to buy a property outside the boundaries of a municipality, i.e. council district (Belediye) and within a village or rural area as well.
3. If I purchase a property in Turkey, do I have to come to Turkey many times?
Will it be possible for me to obtain enough leave from work? If you purchase through us, we manage the sale for you. You would only need to come over to Turkey once.
4. Will it be a good investment to buy a property in Turkey?
Potentially, purchasing a property in Turkey is a great investment opportunity because prices are much cheaper than the prices in Europe. Turkey is also about to become an EU member in the next few years. After this happens, we anticipate that the prices will increase.
5. Are mortgages available?
Mortgages are available through the Turkish Banks for foreigners.
6. Am I allowed to buy more than one property in Turkey?
Yes, you are allowed to buy as many properties as you want. There is no limit.
7. If I have my own property in Turkey, how many times am I allowed to come to Turkey in a year?
You may come to Turkey as many times as you want in a year. There is no limit. On entering the country, you will pay ten pounds for a three-month visa.
8. Are lots of European people purchasing homes in Turkey?
Yes, in the last couple of years, many European people purchased property in Turkey. With the facilities brought by the new law on ownership of property for foreign nationality personalities, until today the following number of properties have been sold to European Countries citizens
United Kingdom : 7.663
Germany : 12.413
France : 747
Netherlands : 1.911
Ireland : 1.060
Greece : 12.508
Danmark : 544
Norway : 445
Belgium : 548
Austria : 1.045
Sweden : 172
Italy : 1.018
Finland : 71
source: www.tkgm.gov.tr
9. How long does it take to own the property?
The process of obtaining the title deeds takes approximately two-three months. A military check is also made for all foreign people before the title deeds are authorised.
10. Should I furnish my property in Turkey?
Furniture is generally cheap, and can be custom made by local craftsmen if required. It is possible to buy in most towns at very competitive rates, with a wide range of goods. Electrical items are less expensive than in Europe; however, household goods are extremely cheap and can be purchased at the local markets. For non national residents it is possible to import household goods providing they hold a suitable residency permit.
11. What are the extra costs of buying property in Turkey?
- 1,5% property purchase tax (only once)
- 1% lawyer fee (only once)
- 3% agent fee
- 100,- registration of title deed on your name (only once)
- 65,- for Power of Attorney and contract translation (only once)
- 274,- registration of electric and water meters
(Please note these prices quoted may change due to updates made by the authorities
12. What about Property Insurance?
There are plenty of companies offering property insurance. We can guide you to find the best insurance company.
13. Can I have a bank account in Turkey?
Yes, you can open bank accounts in Turkey. Your passport will be required for this transaction. Also cash machines are available everywhere in Turkey.
14. Do I have to pay any maintenance money if I own property in a complex
There is an annual charge for the houses in the complex for maintenance of the pool and wages of the security and regular upkeep. This would be approximately between 100 and 250 pounds a year.
15. Are the properties in Turkey freehold or leasehold?
All the properties we sell are freehold properties as it is almost impossible to find leasehold property in Turkey.
16. Where is the nearest airport?
Bodrum Milas Intl Airport which is 80 kms away from Didim-Altinkum.
17. What is a Tapu? Will all the papers be in my name?
The Tapu is the title deeds for the property.The tapu will be registered in either joint or whom the purchaser requests
18. Who will take me to the Notary?Will they speak English? Will all documents be transferred into English?
All customers will be accompanied to the notary by English speaking staff and all procedure explained in full. All documents are in Turkish but a translation of the power of Attorney and any other translations can be arranged with a government approved translator.
19. How much is the monthly expenses, bills and taxes?
Monthly outgoings will vary according to personal use but a guide would be;
Water approx 50-100 GBP per year. Electricity approx 10-15 GBP per 2 months. Water approx 10 GBP per 2 months. Property tax approx 50-100 GBP per year.
