A Guide to Buying in Turkey

 A buying guide for Akbuk property,  Bodrum property, Altinkum property, and Goynuk property

The procedure for buying a property in Turkey is quite different from the system in the UK but is however very straightforward and importantly the basis for home ownership is enshrined in a national land registry system, vital for a stable property market. 

The following information is based on buying a new property from a developer, not a resale property from an agent, although the procedure is fundamentally similar.

To be allowed to buy a property in Turkey, firstly, the "reciprocity principle" must apply. In other words, if a Turkish citizen can become the owner of real estate in the UK, then the same right applies to a UK citizen in Turkey. Secondly the property must not be on, or indeed near designated militarised zones. Finally you must have no  record of criminal intent or activity against Turkey.

You will need your passports and spare Passport sized photographs. Your passport(s)  will be copied and translated into Turkish and the spare passport sized photographs. The translated documents will be used by the Turkish Army to make the checks outined above (and see below). 
 

Once you have seen the property you want, you will normally place a fully refundable reservation fee of around 2000 Pounds Sterling to secure the property.

Subsequently there usually will be a series of stage payments made up to the build completion of the property set by the developer. The first payment will normally be about 4 weeks after reservation and after signing of the contract (see below).

You will instruct a lawyer (whom we or our developers can recommend) to undertake the necessary title checks: 

• The title of the property is verified.
• The person/company selling the property actually owns it.
• Check there are no charges on the property.
• Check that building licences and permissions are confirmed.
• Check the terms and conditions of the selling developer are fair.

Once this is done a contract is drawn up between the seller ( the developer) and purchaser, (normally a standard contract will be available already). The contract gives details of the completion date, the staged payment schedule and the terms and conditions of the purchase. This sale agreement will be translated from Turkish into English by the legal translator.

This contract is signed by all parties, and the first stage payment (effectively the deposit) is paid. Each party will get the sale agreement in Turkish and in English. At this stage of contract you are legally committed to proceed.

Security clearance to allow you to own a property in Turkey is then applied for. This will usually be applied for on your behalf by the developer, if not your lawyer will do it. For this to be done a copy of your passport is taken and translated and submitted to the Turkish Military office for checks. This clearance can take up to 3months.

At the same time, your lawyer will apply for new title deeds (Tapu) and conclude any necessary paperwork - this can take up to 8 weeks. The deed of transfer is signed in the presence of a notary* or an official of the Land Registry Office. At this point you become the official owner of the property and the information is added to the Government Land Register.

(* The notary is the public official who is present to certify that the title deeds have been signed,exchanged, and understood by the parties concerned.) 

If you are unable to return for the signing of the deed, you can sign a Power of Attorney to give your lawyer the authority to sign on your behalf , in your absence.

At the signing and transfer of the deed, any outstanding balances, legal fees and taxes must be paid:

Property Transfer Tax: 3% of the property purchase price - usually split 50/50 with the seller

Notary fees: On a scale set by law according to purchase price, from 100 to 250 Pounds Sterling

Lawyers fees: Should not be more than 1% of property value. More often lower if using Turkish based (though English speaking ) lawyers. Budget from 250 -750 Pounds Sterling

Water and Electricity connection: Up to 200 Pounds Sterling

Earthquake Insurance: Mandatory in Turkey and Government controlled. Based on location and value of property.

Other Ongoing Costs:

Property Wealth Tax: Aprox 0.5% of property value per annum 

Community Charges: varies according to development - budget 100 -200 Pounds Sterling p.a.

 ___________________________________________________________ For buying guides for Morocco, Spain and France, go to www.moroccanestates.com, www.movingplaces-espana.com and www.french-leaseback-investment.co.uk, respectively

   Guide to buying Akbuk property,  Bodrum property,  Altinkum property,  Dalaman property, Alanya property 

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