Buying Overseas Property in Turkey

Buying property in Turkey is a much easier now. The procedure is often much easier than in most European countries. Foreigners may purchase land and property in Turkey for themselves and when it comes to selling it, the income derived from this sale may be transferred outside of Turkey. Even though it seems reasonable to consult an attorney or a solicitor regarding legal procedures, this is no need for such consultation in Turkey.

Tapu

  1. Property owner and real estate agency prepare documents necessary for buying property processes to be initiated. You will be given a copy of the related contract.

  2. After a decision is made, a legal contract is signed.

  3. A nominal deposit of € 750 (changeable) is paid

  4. Customer prepares a Power of Attorney by authorizing LGT - letsgototurkey - to take care of all legal procedures.

  5. Accordingly, our company shall prepare a letter, copies of legal papers, along with a copy of your passport and send them to the authorities.

  6. LGT - letsgototurkey - applies for ownership of the title-deed on buyer's behalf and secures the property until title-deed is received.

  7. It may take between 10-16 weeks before the title-deed is issued. (According to the updated legislation, this process has been shorten to 3-7 days. Please check the latest News.)

  8. It is recommended that you transfer all required installments to a bank account which you shall open in Turkey before you leave.

  9. When all verifications have been obtained and papers are returned back to our company, LGT - letsgototurkey - shall arrange rest of the procedures for you.

  10. After property is registered on behalf of the buyer's, LGT - letsgototurkey - will complete the remaining procedures such as registration of utilities, water, telephone line etc.

  11. On the day of the transfer, LGT - letsgototurkey - will complete all necessary documents regarding legal and financial issues.

  12. LGT - letsgototurkey - also provides a Property Management Service which includes security checks, cleaning services and much more

What are the extra costs of buying property in Turkey?

  • Land is included in property price

  • 3% property acquisition tax (A one time payment to local authorities)

  • € 150 - € 200 for Power of Attorney and contract translation at the Notary (One time payment)

  • € 100 registration price of water meter (One time payment)

  • € 150 -€ 250 registration price of electric meter (One time payment)
  • Property occupation tax (iskan) for brand new developments.
    Depending on the area of the property this tax is variable (One time payment)

  • For telephone line: € 20 (One time payment)

  • Property tax: 0.1% of the apartment value. This is an annual tax which is declared on the value of your property and is collected by the local government

Below is a general guideline for energy cost

  • Water cost per m3: Approx. € 0.85

  • Energy cost per kwh: Approx. € 0.15

Here are the services that LGT - letsgototurkey - provides for you

  • Arranging hotels and airport transfers if required.

  • Pick up service from hotels to visit properties. Every LGT - letsgototurkey - staff has a background in tourism and thus, they can provide all the information needed not only about the properties but also about the area .

  • Arranging appointments with a lawyer, attorney and official translator.

  • Electricity, water and telephone line registrations of your new property on your behalf.

  • Assistance with related purchases like furniture, air-conditioners, electronics, etc after sale has been completed.

  • Assistance with opening a bank account in Turkey to make sure that there will be no concerns of bills to be paid when you are away.

  • Assitance in acquiring a tax number which is required for all future legal issues.

  • Assistance with preparation of all documents required for home insurance

  • Arrangements to obtain an official will in Turkey, upon request.

  • Assistance with renting out the property

We have tried to facilitate the process of buying property in Turkey and also, we will talk to you through each step in detail following your buying decision. When we have a cooperation and full understanding of what is right for you, we can give advice regarding issues such as a solicitor, property survey (if necessary), insurance, annual property tax etc.

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Testimonials

  • Elaine Cozens Elaine Cozens

    First of all, I found the 'letsgototurkey' web-site after numerous internet searches. On it I found what appeared to be the perfect development in exa...

  • Tracey McKendrick Tracey McKendrick

    I hear people comment that letsgototurkey 'seem too good to be true' and this was exactly the same concern that I had about them 3 years ago when I fi...

  • Sally and John Sally and John

    Sally and I are just getting back into normal life in the UK so now I want to take this opportunity to say a very big thank you to everyone concerned ...

  • Adrienne and Lars Adrienne and Lars

    Having been part of the development from the beginning of Sunset Beach phase 2, and taken from the experience of phase 1, it is our pleasure in endors...

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