PURCHASING REAL ESTATE FOR PRIVATE USE IN TURKEY:

Purchasing Real Estate for Private Use in Turkey
Information from the Turkish Consulate, London

Please recheck as this information will change.

Foreigners may purchase land and property in Turkey in their own names provided that properties are located in towns (i.e. there must be municipality in the area where the property is and the property must be situated within the boundaries of that municipality or borough), not in villages or rural areas and outside of military zones.

In order to acquire the title of a property, an application has to be submitted to the local Land Registry Office in which the property is situated. After carrying out necessary searches and checks for the above mentioned requirements, the transfer of the title is done by the Land Registry Office. During the transaction, the proofs or the documents concerning the transfer of the full purchase price into Turkey must be presented to the Land Registry Office. Also a one per cent duty (i.e. tax) both for the purchaser and seller is due and collected during the transaction. There exists an annual property tax, collected by the municipalities (i.e. local governments) at the rate of 0.3 per cent for private buildings. The newly built properties are exempt from the annual property tax for 5 years. All properties are subject to revaluation for every five years for tax purposes. The acquired property may be resold or rented out and the proceeds may be transferred out of Turkey. Different regulations apply when a property is purchased for business related purposes.

Property Purchasing Laws and Procedures in Turkey

Turkey is becoming a popular holiday destination with its immense unspoilt coastline and Mediterranean climate which offers all-year-round sunshine. Buying property in Turkey is now seen as a good future investment considering the fact that Turkey is on the verge of becoming a member of the EU and has one of the fastest growing emerging markets in the world.

Here we will give you the essential but general information regarding the path to ownership of a property in Turkey according to Turkish Laws (article 35 of the Turkish Constitution) and which problems might arise during the process. Different properties are subject to differing laws (depending on location). Because the following is general information only, we encourage you to consult an expert or visit our company in Turkey, Classicestates. We specialise in real estate in addition to architectural projects and construction. By doing so you can avoid the possibility of heartbreaking disappointment (i.e. when you learn that due to unseen regulations, your dream of a summer house on your purchased land can only be that, a dream). Buying property in Turkey can be a complex matter and knowledgeable, professional service is required.

Turkish Property Legislation

Ownership is defined in article 35 of the Turkish Constitution. This article stipulates that anyone is entitled to ownership and that these rights can only be restricted by other legal stipulations. The restrictions may consist, for instance, of zoning schemes, restrictions applicable to foreigners, etc.

The ownership regulations are elaborated in the Turkish Civil Code, article 633. This mainly explains how ownership is acquired. For the purchase of property by a foreign person, the registration of the land is especially important. In Turkey there are regional directorates of the Land Registry Department, which are subdivided in provincial or district offices and they are all controlled by the state.

Property Registration and Delivery

In most European countries the buyer and seller go to a public notary to have the property put in the name of the new owner. The public notary is responsible for the correct settlement of this procedure. The public notary is also responsible for the delivery, which often takes place in the form of a deed of transfer and the entry in the property register.

In contrast to this, the entry in the property register in Turkey is not performed by a public notary, but by an official of the Property Registry Department. It is legally compulsory for both sides (the seller and the buyer) to be present at the entry. It is possible to authorise another person to do so but the authorisation requires a noteral deed. As a security measure, it is also advisable to authorise the sale through an official notary.

The delivery of the deed of transfer does not require the intervention of a public notary in Turkey. The only applicable stipulation concerning the delivery is that it takes place in writing. After the entry and delivery the property register issues a proof of ownership, which is called Tapu. The ownership is only obtained at the moment that the building (s), if under construction, has been completed and the full amount has been paid.

Mainly there are no legal restrictions against foreigners regarding the acquisition of property ownership. However, the Village Act and the Military Prohibited and Security Areas play an important role; Article 87 of the Village Act denies the right to foreigners to ownership of property that is outside the centre of a village in case the cadastral division of this area had not been arranged yet or it may belong to the Ministry of Forest. Also, the act regarding Military Prohibited and Security Areas can be an impediment and therefore restrict the acquisition of property by foreigners if the property is located within a particular distance of military sites or strategically important areas.

The major legal restrictions mentioned above may in turn change or even be (partly) cancelled by more recent legislation which is closely related to the promotion of the economic position of Turkey or the adjustment of regulations and laws to EU or tourism promotions for foreigners etc.

Finally

Buying real estate in Turkey involves many regulations. Not only must formal regulations be taken into account, but foreigners must also heed the various legal exceptions to acquire real estate.

The zoning schemes, the antecedents of the selling party and the legal restrictions imposed by Turkish property legislation are some important aspects that must be approached objectively, reliably and professionally.

Classicestates offers you valuable assistance and allows you to have an objective and thorough investigation carried out regarding the property in which you are interested. Our well-educated staff are happy to help you. So please do not hesitate to contact us either through email or fax or in person for any additional information.

Reciprocity - Foreign Citizens Who Can
Legally Buy Property in Turkey

All citizens of the countries listed below can legally own a real estate in Turkey due to reciprocity principle and are liable with the same rights / procedures as all the Turkish citizens. Presently a new law is pending which may allow this list to open up to other countries in the near future. We will update the list if when this happens.

Argentina, Australia, Austria, Barbados, Belgium, Brazil, Canada, Colombia, Dominican Republic, Egypt, El Salvador, France, Germany, Greece (providing that some restrictions are reserved), Guatemala, Holland, UK, Ireland, Italy, Malawi, Norway, Turkish Republic of Northern Cyprus, Luxembourg, Panama, Somali, Central African Republic, Chile, Spain, Tanzania, USA, Venezuela, legal immigrants and World Citizens.

Some of the information may have changed so please check with the Turkish government web site.

 

What taxes will I need to pay?

a) Property Tax       -     3% of declared value of property

b) Tapu Fee            -     4.8% of declared value

c) Earthquake Tax  -     about GBP 30 + minimal documentation expenses.

 

 

 LEGAL ADVICE

We always advise that clients use a solicitor for their own safety and it may also reduce the overall cost of purchasing a property.

The following is to help you understand the process of buying in Turkey:

Once the solicitor has been appointed they will check:

1. The title deed (Tapu)

2. The seller is the legal owner

3. The property is debt free

4. All building permission and licences 

5. All terms and conditions of sale are acceptable

Once the sale agreement has been drawn up as a legal binding contract and the buyer and seller have agreed and both signed, the title deed will be applied for. The process takes approx 6 - 13 weeks, this is due to the army search (this search is designed to prevent people with serious criminal convictions and terrorists from purchasing property). Should you be refused permission from the army you have the right to transfer the sale over to a nominated third party or have the contract cancelled.

Once the permission is received back from the army deeds transfer will go ahead. You can either be here to sign yourself or nominate by power of attorney someone to represent you. (the acting solicitor will do this for you) Should you opt for power of attorney the solicitor will ensure that all taxes are paid and the title deed is registered in your name.

Please note that the buyer is responsible for paying the water and electric connection and 1/2 the taxes due.

For further information contact:

www.britishembassy.org.tr                  

FAQ:

  What medical services are available in Turkey as we are considering moving abroad?

There are no NHS hospitals in Turkey at the moment. There are Government and Private hospitals. Private hospitals are much cheaper than most European hospitals (approx 45% cheaper) and at times treatment prices can be negotiated. The quality of care is first class. It is important if you are considering coming to Turkey to live to ensure that you obtain Private health insurance, this can be obtained in Turkey. For a good comprehensive cover and piece of mind we recommend Bupa international ! for further details link onto www.bupainternational.com

  Are properties Freehold in Turkey?

Yes the majority are, anyone wanting to purchase Commercial properties out right should first check with their Agent if it is freehold or not.

  Do we need a solicitor to purchase a property?

Classicestates do not sell any properties without the use of Legal representation. It is essential that your rights are protected and the best way to do this is to use an independent reputable legal team. The solicitor will ensure that a legal binding contract is drawn up and signed by the buyer and seller. The solicitors job is to also ensure that the seller is also the legal owner of the property / Land and has the right to sell it. Ask yourself would you buy anything in your country and hand over thousands of pounds without the use of a lawyer? Would you buy a property from a waiter in a pub or restaurant in your country? The answer should be no! So please don't be foolish to attempt to do it over here. Come and speak to us first we can save you thousands of pounds and misery.

  How long does it take for us to actually own the property? 

No one can have the deeds to their property until the Army have done a search on that person, this process can take anything up to three months. Once the all clear is given by the Army the deeds will then be transferred into your name. We do however have an agreement with local builders which allows our customers to furnish their new home and move in before the deeds are transferred, so you don't have to delay enjoying your new place in the sun!

  Can we own more than one property?

Yes you can. There is no limit to how many properties you wish to invest in. Please note that for every property you purchase the Army search applies to each property so there will be the same wait for deeds transfer. For block purchases (as for example a complete complex) it is possible to obtain all the properties on one title deeds, should you wish to sell on you would however have to pay to get the deeds split into individual properties. 

  Who inherits after our death?

Turkish Law is very similar to British Law Spouses inherit from each other and the next of kin (children if any) in the event of the death of the female spouse or both spouses. The property for the  next of kin if both spouses die is divided equally. The only difference is if the male spouse dies and there are children, 1/2 of his 1/2 of the estate goes to his wife and the other 1/2 of his 1/2 is divided between the children In the event of the woman spouses death then all her 1/2 goes to the husband. For amendment on title deeds due to death will require legal assistance. 

  Can we have a will drawn up in Turkey?

Yes you can the local Notary can help you with this, just ask and will advise you.

  Can Classicestates Manage & Rent out our property?

We can certainly manage your property we have a very good after sales and property management service we will assist our clients where possible to rent out their property, we will also advertise it free of charge on our website. 

 Are their many British buying in Turkey?

Yes, the last few years have seen a considerable amount of Brits buying over here. There are many different reasons for this.  Some people have decided to invest their pension money in property over here due to the small return on their savings in Britain. Some people simply cant get on the property ladder in Britain and have purchased over here with a view to sell in later years to help them use the great investment to purchase later in England. Others have huge equity now in their homes and have used some of it to buy a dream holiday home. Others simply have surplus cash and see a great investment for the future! Quite a few people have also sold up and moved out here because of the great climate and low cost of living and lets not forget the wonderful culture over here. The people are warm and friendly & love children. Crime rate is very low, what could be more perfect!

  Is buying a property in Turkey an investment opportunity?

 Are mortgages available?

 Is there a limit to how much land I can own?

 Do I have to pay taxes?

 If we sell our property, can we take all of our money out of Turkey again?

 Can I open a bank account in Turkey if I own a property there?

 What about bringing pets into Turkey?

 How long can I stay in Turkey on my tourist visa?

 Living Expenses - Monthly outgoings, roughly what will they be? Is it expensive?

 How does the general cost of living compare to the UK?

 Can I work in Turkey?

 What about schools and colleges?

 What is Notary?
A public officer licensed by the state to administer oaths, certify the authenticity of legal documents, and perform other official administrative duties.

 



www.000webhost.com