B U Y I N G A P R O P E R
T Y
What is the procedure when you buy a property in Turkey?
The Alanya Home team will assist you the best way and will
also arrange a lawyer if needed whilst purchasing property
in Turkey
SERVICE CONCEPT:
as one of the leading companies in the area, we are aware of
how important it is to provide a complete service to
customers. We can categorise our service concept in 3 parts:
BEFORE PURCHASE:
Informing customers about the region and property portfolio
according to the customer's requirements. Providing flight
information if required. Assisting with hotel reservations
if required. Pick up service from airport if required.
DURING PURCHASE:
Providing full information about the area, buying procedures and
viewing of the potential properties. Organising all
procedures such as: lawyer (if required), opening a bank
account, translator, preparing all necessary paperwork for
applying for the title deed etc.
AFTER PURCHASE:
Assisting with the registration of utilities (water and electric
meters, telephone line, solar system, etc).
Recommending the best shops for furniture and electrical
goods. Helping with the application for a residence
permit (including translation and assistance at the
Department of Foreign Affairs). Assisting with
insuring the property. Helping at the notary office (with
official translator) to obtain official Turkish will for the
property. Besides standard after purchase service, we
offer our customers a membership option for Property Care.
While our customers are away; we pay all the bills. We make
routine security checks of the property. We pay the taxes.
We deal with the relevant companies for insurance,
maintenance, engineering etc. Furthermore; we can arrange
airport transfers, (additional fee). We can arrange a
cleaning service (additional fee).
The purchase of a real estate in Turkey does not represent a
bureaucratic problem. However it helps to consider some
points also here. In Europe you usually buy a real estate
with the help of a notary, who leads and controls the
purchase procedure. Here notaries do not complete or are
entitled to complete purchase actions.
THE COMPLETION OF THE PURCHASE ACTION
Buyer and seller meet together directly in the local land register
office. They both give their business intention, here a
nationally sworn in interpreter for the language of
the buyer must be present, if the buyer is not a Turkish
citizen and/or do not know the Turkish language.
Once a
property has been chosen, a reservation fee (normally 10%)
becomes payable. This fee takes the property off the market
and is the first step in the commitment to buy.
Having
decided which property to purchase, a Purchase Contract is
prepared which details the property together with the agreed
purchase price; payment method and any extras or alterations
which may be requested. This Contract is binding in Turkish
Law and will be written in English. You will need your
passport and four passport-size photographs.
Application
is submitted to the Land Registry Office who will then
submit the application together with a copy of your passport
to the
local military authority to do a background check to verify
that the property is not within a military zone and that you
are able to purchase your intended property. This process
usually takes 8-12 weeks.
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 the 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 (title
deed) will then be made out in your name.
The
exchange of Deeds (the Tapu) is executed exclusively at the
Land Registry Office and this document is the publicly
recognised form of ownership of the property. Taxes are
levied on the amounts stated on the Tapu.
WHO CAN BUY ?
Citizens of
countries who have a reciprocal agreement with Turkey can
purchase a property, which includes all countries within the
EU. The only restriction is that the property cannot be on
military designated land.
TENURE OF PROPERTY
Almost all property in Turkey is
FREEHOLD.
PURCHASING COSTS
Purchase
Tax – 3% of the property value (this is calculated on the
value of your property – 1.5% is paid by the purchaser and
1.5% by the vendor)
Fee for
certified translator – approx. 50 euros at the Land Registry
Office
Property
Tax – 0.1% of the property value declared by the local
municipality.
INSURANCE
Building and contents insurance
is widely available. Premiums depend on the size of
property and the value of the contents.for 100 sqm property
apprx.€ 100.euro per annum.
COMMUNAL MANAGEMENT FEES
These fees cover pool/garden
maintenance, security and any other shared facility that is
available.
GAS
Gas is
normally used for cooking and water heating. Cylinder
refills cost approx. 14 euro and last approx. one month for
water heating and two months for cooking. Normally,
especially during the hot summer months, water is heated via
solar energy.
ELECTRICITY
New property connection charge
is approx 100 euros.
Transfer of an existing
connection approx 20 euros.
WATER
New property connection charge
is approx 62 euros.
Transfer of an existing
connection approx 42 euros.
TELEPHONE
Land line numbers can only be
obtained once purchasers hold a residency visa.
Connection charge – approx 8
euros
Monthly line rental – approx 9
euros
* Please note that all charges
mentioned are approximate and are applicable at time of
going to print.
LETTING YOUR PROPERTY
The letting potential is very
good – mainly due to the natural beauty of the area together
with the superb coastline.
Estimated
rental income on a 3-bed villa with private pool (sleeping 8
people) would be approx. £500 - £750 per week, and for a 2-bedroom
apartment with shared pool would be approx. £200 - £400 per
week.
RESIDENCY
A Residence Visa is only
required for permanent residence or stays of longer than 3
months at a time.
UNITED KINGDOM PENSION
UK retirement pension is payable
inTurkey at the rate which is payable as if you were in the
UK.
MEDICAL INSURANCE
There are
government run and private hospitals in Turkey. Although you
may under the reciprocal agreement between the UK and Turkey,
be entitled to certain medical services, it is advisable to
take out private medical insurance cover to ensure you can
obtain the level of treatment you require. Costs will vary
on the level of services required and covered.
WILLS
It is
advisable on having purchased a property in Turkey to have a
Will drawn up. Your Will can be lodged with your Turkish-based
lawyer. If there is no legal Will, then the Turkish law of
succession is applied.
LAND REGISTER OFFICE (TAPU DAIRE)
At the land register office the purchase of a real estate takes
place. For each real estate there exists a page in the land
register, which gives information about a real estate.
Foreign real estate buyers receive the full security of the
acquired property from the Turkish state. As is common in
Europe, also in Turkey, the landed property is held
nationally by a land register entry in the names of the
buyer. First your application goes to a regional tapu office
then to a Military Head office in Izmir to check the
property is not in a restricted or Military Zone. This is
normally a formality and if everything is approved then it
takes just one day to complete. Once approval has been
granted you go to the tapu office with a translator to sign
your freehold ownership documents, (a new law for non
residents which came into force on 7 January 2006 which is
intended to speed up the process.) This usually lasts
eight to twelve weeks. Afterwards the Tapu will be handed
out from the land register to the salesman and/or its
authorized person, who again hands it out to the buyer or
its authorized persons. Remaining is only the payment, which
buyers and salesmen regulate internally.
ENTRY INTO THE LAND REGISTER (TAPU)
For the entry these are necessary:
For buyer(s) :
• 2 new passport photos of the buyer(s)
• 2 copies of the passport
• Address in your home country
For seller(s) :
• 1 new passport photo of the seller(s)
• 2 copies of the passport
• Address
Of course we will help you with the connection of water,
electricity and telephone. We can also be useful to you to
buy furniture, electrical items and similar.
If you decide to make renovations or other changes in your
new apartment/villa we can arrange and supervise these
works.
To rent out or sell your property we will be happy to assist
you.
LEGISLATION
In Turkey foreign private people may acquire real estates under some
restrictions.
According to § 35 of land registry law in Turkey foreign
private people may acquire or inherit real estates, as long
as the arrangements are legal. This legal arrangement makes
the acquisition of landed property possible by foreign
private people in Turkey.
Restrictions, which are to be considered, even if the
requirements of the foreigners on mutuality are fulfilled:
A) !New! On 03.07.03 a change of law was carried out in
favour of foreign private people. After the new law of the
Tapu office §4916 paragraph 19 section 35 foreign persons
may now also acquire properties within village borders.
B) In particular, according to tourism promotion law No.
2634, paragraph 8/E a must for the areas which are
considered outside of the touristy areas (including these)
and outside of the municipality borders, which rank among
tourism zones, instructions by the central administration.
LAW OF INHERITANCE
If foreigners, who possess real estates in Turkey, die, then these
properties will be transferred to the heirs. The heirs of
the foreigner receive in this case a certificate of
inheritance from the court of their country. With the
certificate of inheritance the foreigner can order an
enforcement explanation with the Turkish court. Supported by
this enforcement explanation the estate goes to the heirs.
For more details please click the main tapu office in Ankara
www.tkgm.gov.tr
MONEY AND FOREIGN CURRENCY
Not only did the all-inclusive tourist discover Turkey as paradise
but also investors in the financial and real estate markets
found some kind of a "Swiss Luxembourg", which is relatively
unknown.
Many international enterprises, mainly banks, are
represented in nearly all larger cities of Turkey and of
course also in Alanya. The retracting and extending of
foreign exchange is possible almost without reservation.
Turkey recently substantially loosened the restrictions for
investors of foundation and real estate purchase, etc.
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!!! NOTE !!!
Whether the waiter in your favourite restaurant, the jeweller on the
corner or another European who has already lived here for a long time
and would like to earn a few euros on ‘the side’, everyone in
Alanya tries to sell properties. Many people think buying from
"private" is cheaper than buying through a reputable company.
Unfortunately such an adventure can become very expensive. Also do not
go to a real estate agent together with a so called ' friend ',
because when it comes to a purchase, then he also wants money, which
will usually be added to the purchase price, i.e. you pay your
companion for doing nothing and he will certainly not tell you that or
how much he has been paid. The same applies to all kinds of purchases
(Jewellery, leather, clothing, carpets...).
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T H E T A P U
(T I T L E D E E D)
Entry into land register (Tapu):
For the entry there are necessary: |
The Tapu: |
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For buyer(s) :
• 2 new passport photos of the buyer(s)
• 2 copies of the passport
• Address in your home country and name of father
For seller(s) :
• 1 new passport photo of the seller(s)
• 2 copies of the passport
• Address
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Of course we will help you with the connection of water,
electricity and telephone. We can also be useful to you in
purchasing furniture, electrical items and similar.
If you decide to make renovations or other changes in your
new apartment/villa we can arrange and supervise these
works.
If at any time you decide to rent out or sell your property
we will gladly assist you.
|
Legislation
In Turkey foreign private people may acquire real estates under some
restrictions.
According to § 35 of land registry law in Turkey foreign private
people may acquire or inherit real estates, as long as the legal
arrangements are not changed. This legal arrangement makes the
acquisition of landed property possible by foreign private people in
Turkey.
Restrictions, which are to be considered, even if the requirements
of the foreigners on mutuality are fulfilled:
A) !! New !! At 03.07.03 a change of law was carried out in favour
of foreign private people. After the new law of the
Tapu office §4916 paragraph 19 section 35 foreign persons may now also acquire
properties within village borders.
B)
In particular, according to
tourism promotion law No. 2634, paragraph 8/E must for the areas, which are
considered outside of the touristy areas (including these) and outside
of the municipality borders, which rank among tourism zones,
instructions by the central administration.
L aw of inheritance
If foreigners, who possess real estates in Turkey, die, then these
properties will be transferred to the heirs. The heirs of the
foreigner receive in this case a certificate of inheritance from the
court of their country. With the certificate of inheritance the
foreigner can order an enforcement explanation with the Turkish court.
Supported by this enforcement explanation the estate goes to the
heirs.
Money and foreign currency
Not only did the all inclusive tourist discover Turkey as paradise but
also the investors in the financial and real estate markets find here
some kind of a "Swiss Luxembourg", which is relatively unknown.
Many international enterprises, above all banks, are represented in
nearly all larger cities of Turkey and of course also in Alanya . The
retracting and extending of foreign exchange are possible almost
without reservation. Turkey recently loosened the restrictions
for investor, foundation, real estate purchase, etc. substantially .
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