Buying a property in Turkey is a lot easier than in many other European countries.
In order to acquire the title of a property, an application has to be submitted to the local Land Registry Office within the town where the property is situated. For a foreign National to purchase land or property in Turkey, it is necessary to apply for approval from the Izmir Aegean Army (Ministry of Defence).
In Turkey it is legally compulsory for both sides (the seller and the buyer) to be present at the entry in the property register (at the Land Registry Office). During the transaction, the documents concerning the transfer of the property & purchase price are entered into the Land Registration Register and a purchase tax of 4% is collected. This process can be handled by allowing your solicitor to have power of attorney if you are not able to be present at this point.
Once you are satisfied with all the details of your property and the sale price is agreed the following steps are carried out. Your solicitor will be there to guide and assist you through this whole procedure: –
• A contract is drawn up in English between the buyer and seller with full property information and the payment terms arranged
• Your passports will need to be officially translated by an independent Government translator, then officiated at the Notary office.
• A deposit will be required to secure the Property (this amount can vary depending on the purchase terms and payment plans agreed)
• A copy of all the title deed documents, a letter of explanation of the purchase agreement, a copy of the contract and a copy of your passport with 4 passport photographs are sent to the Army headquarters in Izmir for Ministry of Defence clearance. It is this process that takes time.
• Once clearance for the transaction to go ahead is received, the legal exchange of property title deeds at the land registry office can be completed in a short time. This entails the Buyer and Seller or their representative attending the land registry office whereby the title deeds are transferred once the owner confirms they have received the monies for the transaction and the buyer confirms their willingness to buy the property.
A translator must be present as all the points of sale must be understood by the buyer and the seller alike before the transaction can be completed. The lawyer we recommend is a registered translator and will be with you through these processes. Once the transaction is finalised, you will receive a TAPU (title deeds) in your name. All these details are also kept on file at the Land Registry Office.
Prior to purchasing your property, you will need to obtain a tax number for paying property taxes when purchasing your property and for taxes due on an annual basis. Council charges also require you to have a tax number. Your lawyer will assist you in this process, which is very straightforward and entails a visit to the local tax authority office. You will need to bring your passport and a photocopy of the picture page of your passport with you.
When transferring funds to purchase a property, funds should be identified as being for the purchase of a property and always transfer funds in GBP Sterling. Similarly, if you sell your property in Turkey the law allows you to transfer the proceeds of the sale out of the country. Your lawyer will guide you through this process.
The easiest way for foreigners to purchase property in Turkey is to give Power of Attorney to your solicitor to complete any formalities on their behalf if you are not in the Country. When purchasing a property in Turkey there are of course a number of fees involved, below is a summary.
• Translation of Passport at the Notary Office
• Notary Costs for Power of Attorney – should you be out of the country when the sale goes through
• Government Mapping Fee for Military Clearance
• Purchase Tax: 4% of purchase price
• Duty Tax/Fixed Tax to the Deeds Office
• DASK (Compulsory Government Insurance)
• Utilities (Changing utilities in to your name)
• 3% Payable to Estate Agents upon completion of sale
Additional costs to consider
• Private Insurance (Buildings & Contents)
• Annual Maintenance charge as set by the maintenance company you appoint
Approximate annual ongoing payments
• Council Rates & Property Taxes
• DASK (Compulsory Government Building insurance)
• Electricity/Gas & Water – Dependent on personal consumption paid monthly
We recommend that you use a lawyer/Solicitor for your purchase here in Turkey.
The Lawyer we recommend is :
Av. Sule Beder, Alarca Mah.868. Sokak, No14. FeTIP Yani. Fethiye/Mugla
Sule is an English-speaking Lawyer who has both Turkish and British Degrees and is very well known and respected within the Fethiye Area. However, you are more than welcome to obtain the services of your own preferred solicitor should you wish.