+ WHY BUY A PROPERY IN TURKEY ?
+ WHO CAN BUY A PROPERTY IN TURKEY?
+ ASSINGNING A LAWYER FOR LEGAL PROCEDURES
+ TENURE OF A PROPERTY
+ MORTGAGE / FINANCIAL ADVICE
+ THE PROPERT DEED - (TAPU IN TURKISH)
+ MAINTENANCE SERVICES
+ REGISTERING A TELEHONE LINE
+ RESIDENTS VISAS
+ TYPES OF HOUSING
+ A GUIDE TO THE LEGAL COSTS INVOLVED



WHY BUY A PROPERY IN TURKEY ?
The advantages of buying property in Turkey

Since Turkey has been given the date of October 2005 for starting negotiations to become a member of E.U., you will be able to double and even triple your investment within a few years. Real estate prices are still very attractive in comparison with E.U. countries, take your chance to make a good investment for your future. And with the last changes in the regulations on property ownership for foreign citizens, buying a property is a lot simpler now and living cost is incomparably cheap compared to the majority of European countries.

BUYING A PROPERTY IN TURKEY
WHO CAN BUY
All citizens of E.U, UK, USA and countries who have a reciprocity agreemnet with the Turkish government may own, buy, sell a propery in Turkey. Please note that military and governmential areas or land cannot be purchased

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

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 behalfIn 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.

ASSINGNING A LAWYER FOR LEGAL PROCEDURES
when you give a power of attorney to the lawyer, He/she applies for the title deed on buyer’s behalf and secures the property until the title deed is received.

TENURE OF A PROPERTY
Almost all property in Turkey is "Freehold".

MORTGAGE / FINANCIAL ADVICE
There are currently no mortgages available for a foreign citizen secured on a Turkish property. Recent changes in legislation means in theory that it is possible, but the logistics makes it very difficult. Aquavista Property Consultants Ltd is currently in discussion with several Turkish banks to resolve these issues to provide this facility to our clients. There are alternative means of funding a purchase of your property and Aquavista Property Consultants Ltd have an independent financial adviser who can discuss with you the options. Please contact us for further information.

THE PROPERT DEED - (TAPU in TURKISH) ** ALL SERVICES PROVIDED BY OZDOY CONSTURCTION ***
When you buy a property in Turkey, you are given two deeds one of which is the deed of the land amd the other is the deed of the area. This is issued first and will show the new property owners name. According to Turkish law as long as the owners name is on the arsa tapu then they own whatever is on the land. An application must be made to the local council offices for a living license (the second tapu - OTURMA IZNI). This is done by the property vendor (i.e. the builder), and is only issued once the building has been inspected to comply with the building application. Once this has been granted the tapu will show the words CINS TASHIHI that confirms the classification on the property. In the case of re-sale property the OTURMA IZNI should have already been granted, but must be checked it is shown.

MAINTENANCE SERVICES
For your peace of mind, if you are a non-resident, all our Developers and Real Estate companies offer a full maintenance service to ensure your property is kept in A1 condition during your absence. Details of services and costs are available on request in relation to a particular property.

REGISTERING A TELEHONE LINE

Upon receipt of the title deed, so called ‘’Tapu’’, you need to apply to the Turkish Consulate in your country for a 1-year visa. Upon receipt of that, when you come to Turkey, you need to apply to the district’s Foreign Police Department for a residence permit ( 5 years) which costs approx. 500 Euro. Upon receipt of residence permit called the “ blue book’’ you can get a car/telephone/satellite line registered on your name.  OZDOY will assist you during this procedure.

ELECTRICITY AND WATER REGISTERATION
If the property purchased is a new house, then with the residence permits of the property, copy of Tapu and your passport you need to apply to Tedas for electricity and to Gatab for water. The cost for new memberships are approximately as follows:

Electricity -new membership :120 €
Water new-membership : 50 €+ Sewage infrastructure fee 75 €

If the property purchased is an old building with existing memberships, you just need to get the membership number and copy of passport and Tapu (THE DEED) .

In that case the costs are as follows:
Electricity register transfer for the house : 40.-€
Water register transfer for the house : 35.-€

BUYING A CAR FOR YOUR OWN
To get a vehicle you bought in Turkey registered on your name, you need first to obtain the ‘blue book’(see question 5) and then apply to the traffic police department to get an ‘MA’plate meaning Misafir Araç- Guest Plate and the book of the vehicle.

If you want to import the vehicle you bought to Turkey, then you need to pay the tax assigned by the Turkish Customs Office to the local authorities. The taxes for import are very high, therefore it is not recommended to
bring cars from abroad

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.

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.

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.