Purchasing property in Turkey is now very easy, as long as you go to the right people for the right advice; this takes away all the stress of purchasing.
Citizens of countries within the EU can purchase property in Turkey and Turkish mortgages became available in 2007.
Legalities
At Turkish Golden Sands we always advise you to employ the services of a Solicitor and an independent translator, which we are able to provide for you.
Our Associates will prepare a Contract that will detail your property, together with the price agreed, payment method and any extras or alterations you may require. This Contract Agreement is binding in Turkish Law and will be in both Turkish and English.
A copy of your passport is then sent to the local military authority and they run a background check to verify you are able to purchase your intended property. This process usually takes 8-12 weeks but due to the boom in foreign property ownership in Turkey it is now taking longer to process.
After clearance by the Turkish military you can proceed to purchase your property. This is conducted in the local Land Registry Office, where both the buyer and seller enter the details into the Registry Book. If you cannot be present for this you are able to sign power of attorney to your solicitor to act on your behalf. The property tapu will then be made out into your name.
The tapu is the Turkish property deed. Although you can occupy your property at the moment of completion it may take longer to receive the tapu.
Residency
If you are considering purchasing a property in Turkey as a holiday home or as a permanent residence, you will require a visa. For holiday homes, a three month tourist visa is generally sufficient, obtained on arrival at the entry airport at a cost of £10 per person. This can used as many times as you wish during the three month period.
For longer periods and permanent residency, a resident’s permit is required. These can be obtained prior to entry to Turkey from the Turkish Consulate in London for one year, or after arrival with a tourist visa for periods up to five years.
Costs Involved
Solicitor and Translator fee: Approximately £350.00
Buyers tax: Approximately 3% of the sales price
Water & electricity connection fee(new build only): Approximately £400.00
Standard Agency fee: 3% of property price. 0% on our own developments.
Land Registry: Approximately £450
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