A Guide to buying a Property or Real Estate in Turkey

Real Estate in Turkey

The system of property ownership in Turkey is based on the title of the property being registered to the Land Registry.

Who Can Own Property in Turkey?

First the “reciprocity principle” must apply between the country of the person wishing to obtain acquisition of ownership. 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.

Selling Property in Turkey

Capital gains made from the sale of a property will be taxable in Turkey if the owner is a Company. Individuals do not have to pay capital gains, provided they have owned the property for one year. Unlike Spain and the Canary islands, when you sell a property in Turkey, all proceeds from the sale can be sent back to the U.K.

Real Estate in Turkey

Property & Conveyancing in Turkey

Persons wishing to buy property in Turkey can be apprehensive about their choice of lawyer since they will not be familiar with the firms nor, in most cases, with the civil law system. We can put these misgivings to rest by recommending the lawyers we work with who are reliable and will provide an efficient and professional service.

We can further assist by explaining the civil law procedures and translating documents. If a client so wishes we can also act on their behalf, through a Power of Attorney or a written authority, to actually complete a purchase or sale of a property on their behalf In most areas of Turkey, finding accommodation to rent or buy isn’t difficult, providing your requirements aren’t too unusual. Accommodation accounts for around 25 per cent of the average Turkish family’s budget, but can be more in the major cities. Property prices and rents in Turkey vary considerably depending on the region and city. For example, a property rented outside a municipality will cost £75.00 a month, and £150.00 a month in most municipalities on the Mediterranean and Aegean coast.It is very practical to have a street map of the area where you are going to live. Check for out the local tourist information office free copies. Even after you have found your home, you will find a street map invaluable for getting around.

Real Estate in Turkey

Residents Visas

If you are relocating to Turkey for more than six months then you are well advised to apply to the Turkish Government Office for a residents. They will issue a document for you to present to the police neared your new home who in return will process the application.

Rent (Kiralik) or buy (Satilik)

If you’re planning to stay in Turkey for a year only then renting is usually the best solution since the costs associated with purchasing a house can be 10% of its value. However with the upsurge in the popularity of Turkey as a holiday destination buying is a safe and good investment.

Furnished or unfurnished

Most rental properties in Turkey are let unfurnished, particularly for lets longer than one year. Furnished properties are difficult to find and generally poorly equipped. Note that “unfurnished” doesn’t simply mean “without furniture” in Turkey. An unfurnished property, particularly is usually an “empty shell” with no light fixtures, curtain rods or even a television aerial. There’s also no cooker, refrigerator or dishwasher and there may even be no kitchen units, carpets or kitchen sink! Always ask before viewing as you may save yourself a wasted trip. If the previous tenant has fitted items such as carpets and kitchen cupboards, he may ask you to reimburse him for the cost. You should be prepared to negotiate the price and make sure that you receive value for money.

Real Estate in Turkey

Areas

If you want to live in an area where there are many international residents it is best to check out where the schools and hospitals are. Contact your embassy or international social organizations and ask the international residents themselves if you really want to live in a colony of your own citizens fellow.

Costs

Rents for a 2-bedroom apartment in in the south of Turkey can be £175 – 200 per month, while a 3-bedroom house can be around £200 – 250 per month. In addition, you might pay a real estate agent up to 1 months rent. Then you might need to buy kitchen cabinets and maybe pay for redecoration.

Types of housing

Many Turkish families live in communal property developments where rents are lower than in the town centers. Rents are calculated according to the number of bedrooms and the floor area (in square meters). Generally the higher an apartment is in a block, the more expensive it is (you pay for the view, the extra light, the absence of street noise, increased security and the rarified air). However, if a block doesn’t have a lift, apartments on lower floors may be the most expensive. 1 square meter is about 10 square feet. Check the housing needs page to help you evaluate a property.

Real Estate in Turkey

In case of a dispute with the landlord

If you have a complaint regarding a long-term rental, you should report it to the local municipal office (Kaymakamlik). If they’re unable to help you, they will direct you to the office where you can make a formal complaint. Depending on the type of dispute you may be directed towards a solicitor

Because we are not solictiors and the legal side of purchasing your property has to be dealt with by professional people in that field we will arrange a translator who will translate from Turkish to English all the legal requirements for purchasing property. They will also prepare your sale agreement in English.

The following information is intended to help you understand the process of buying a house in Turkey and to give you an indication of the obligations of overseas home ownership. Having instructed a solicitor to handle the purchase, you have the reassurance that all important aspects will be covered. He/she will make sure that if you buy one of our resale properties all the following will be checked; (PLEASE NOTE; The fees listed below are only charged when you purchase a resale property.)

The title of the property is checked.

The person selling the property actually owns it.

Whether there are any charges on the property.

Where applicable, that building licences and permissions are in order.

The terms and conditions stipulated by the seller are checked for fairness.

Once the sale agreement has been drawn up by the solicitor, and the buyer & seller have signed it, the new title deeds (tapu) will be applied for. This process could take 2 – 3 months.

The title deeds will then be transfered into your name, which is signed in the presence of the notary. You can either attend the signing in person or appoint someone as power of attorney to attend on your behalf (which we can do for you).

For the fees and taxes to be paid.

For the title to be registered with the government land registry.

The Notary is a public official who is present to officially certify that the title deeds have been exchanged and understood by the parties concerned.

A guide to the legal costs involved

The solicitor’s fees £150

The legal translator’s costs £40

Notary charges approximately £60 for power of attorney and translator.

Other Costs

Buyers tax: Approximately 1.5% based on the declared price of the property.

Government tax: Approximately £100

Community tax: Approximately £8 paid yearly for local services.

Property tax : Approximately % 0,5 based on the declared value of property, paid yearly.

Water & electricity connection fee: Approximately £250

Earthquake Insurance: Depends on property price and location.

(required by law)

If property is bought in a complex: There is an average maintenance charge of approximately £ 150 – £ 400 per year

When purchasing property, the buyer will be responsible for paying the water and electricity connection fee.