Buying Property in Turkey
After the abolition of the principle of reciprocity and the enactment of private ownership to foreigners in Turkey on 5/15/2012, it has become very easy to own property in Turkey, provided that the property does not belong to the military, is not rural or is not any land belonging to the state in general.
Before taking any steps towards owning property in Turkey, you must obtain sufficient information about the project and place that you would like to buy the property, obtain preliminary information on the projects, and real estate availability. This information is provided by our company in detail, where you should look for real estate, existing projects and details of the space, location and view in addition to the presence of three- dimensional images and video to give you an idea that is most similar to reality.
Here are some steps that you should pay attention to before buying property in Turkey:
- Pay attention to the broker that you deal with, whether a person or office , make sure you deal with only licensed entities and go over the price list which is given to you.
- Choosing the right broker will guarantee you reach the right companies and projects that suit you.
- Inquire about all the expenses and taxes that must be paid.
- Visit the project site and look around closely to make sure of its proximity to roads, hospitals schools, etc., and all other things that you think are necessary for you.
- Ask about the project developer that you would like to purchase from.
- Make sure the company you are dealing with will help you in the procedure for obtaining the property title (Land Registry).
- Make sure that they will also provide support in obtaining membership for water, electricity, gas, telephone and other necessary utilities.
- Will the company offer after-sales services such as renting, re- selling or even home sitting during your absence?
- Will they give you documents on legal and tax matters? Are they experts in these areas? Do they offer advice on legal matters?
When you decide to buy property in Turkey, we encourage you to visit the location of the property and take a tour to inspect the area in order to have a clear and complete picture that will help you in your decision. You can contact us before your visit to Turkey or while you are already here so we can provide you with a free tour from the place you are staying in Turkey to the property you are considering, with Arabic/English – speaking representatives who are able to answer all your questions.
When you find property that catches your attention and you decide to buy it, we will provide you with all the services you need from the moment of purchase, until it is legally yours, in addition to after-purchase services that we provide to help you move into your new residence. A contract will be signed between you and the seller that guarantees the rights of both parties, and ensures that you receive the house upon the terms and conditions agreed upon.
Most real estate offered for sale by our company can be paid for in a system of installments that facilitates the payment process from the moment of signing the contract until delivering the house. To complete your purchase you will need a passport and some supporting documents. You will need to issue a tax number from the tax department; this number will also be needed to open a bank account in Turkey.
Issuance of tax number requires your passport and current address in your country of residence or in Turkey and takes about half an hour to be issued.
Opening a bank account requires a passport and tax number, and takes about an hour. A bank account in Turkey would be useful for paying the installment premiums to the seller and to pay monthly bills incurred on the house, even while you are not in Turkey. Just a few steps are needed to open an online account.
You can complete the purchase through a third party if you give them power of attorney at the notary public if you so wish.
Residence Permit in Turkey
When you own property in Turkey you will be able to obtain residence for one continuous year. And you will not need a visa when you enter Turkish territory. Click for information of residence permit.
There are additional fees that need to be paid other than the price of the property, namely:
- 4% of the value of the property tax to be paid once after receiving the Property Title.
- There is mandatory insurance against earthquakes that covers the property and its contents. You must do this when the property becomes in your name; without it, you cannot get water and electricity subscription (insurance premium varies based on the size of the property) and is renewed every year.
- Property tax (Emlak Vergisi) worth 0.1 % of the value of the property and it is to be paid before the end of May of each year.
- Other expenses relating to the registration of water, electricity and gas subscriptions are to be paid once only. In addition to these, expenses for land line, TV and internet are optional.
- There is a small monthly amount paid to the housing complex for the provision of cleaning services, security and maintenance of the building. This amount is determined by the management of the housing complex after the delivery of the entire project.