Foreigners
may purchase land and property in Turkey
under their own names. There are some areas
where foreigners are not allowed to buy, to
avoid raising property prices to levels
Turkish people cannot afford - a precaution
we think is very sensible. (The regulations
for ownership are outlined in the 'Turkish
Civil Code', for a foreign person purchasing
a property.
Buying property in Turkiye,
Regarding solicitors and lawyers, it is
quite simply essential that you appoint an
independent local solicitor who speaks
English to represent you.
There are many checks and searches that need
to be conducted on the title of a property
etc., and these must be done by a
professional solicitor otherwise you run the
risk of encountering problems either with
the purchase or later resale of the
property. It's unlikely you'd buy a
house in your home country without seeking
the assistance of a solicitor so don't be
tempted to proceed in Turkiye without a
solicitor, On top of the purchase price, are
there any extra taxes or fees payable?
Yes, There are some extra costs.
A 3% of the property value tax. This is a
once off payment and it is due for payment
once the (deed)TAPU is received.
The solicitor's fee.
Prices start from about £300 and will vary
depending on which solicitor you choose. and
the area you decide to buy in,
A 3% agency fee that covers all agents
commision and charges. This is usually
payable at the time that the contract is
made, together with the initial deposit
payment on the property but may be able to
be negotiated in certain circumstances.
It is compulsory to have earthquake
insurance and we recommend you take out,
The cost of earthquake insurance (DASK)
works out at 1YTL per sq meter for you
house/apartment + 3YTL.,So a 75 sq mt house
is 78YTL.
You are advised to get full home and
contents insurance cover as soon possible
Or once the property is registered in your
name. (the cost of this varies depending on
the value of the property, it's contents for
the number of months it will be occupied.)
Approximately £150
Turkish Home/ property insurance is
available in the UK as well as Turkiye,
You are advised also to get the water and
electricity into your name so the bills will
come directly to your house.
Maintenance charges - these apply to
properties that share communal facilities
and can vary from as little as £80 - £500
annually
Note,
Certain restrictions apply relating to the
areas in which foreign buyers can purchase
land or property and a simple guideline is
that if a property is close to Turkish
military land or bases permission will be
denied. The owners of all new build
developments targeting overseas buyers can
usually provide proof that apartments and
villas for sale qualify for sale to foreign
buyers and if in doubt make sure your
solicitor checks out any property you're
interested in before you sign a contract to
buy.
This is to provide basic information about
buying property in Turkiye.
The information in this post is of a general
nature and does not constitute legal advice,
You can also see relevant issues regarding
Buying property in Turkiye, here,
www.turkisheconomy.org.uk/buyingproperty/property.html
