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