THE BUYING PROCESS
Firstly, buying a property in Turkey is straightforward and simple if you know how, with Turkish law being based on the Swiss constitution and law.
Possibly the hardest part of buying a property in Turkey is choosing the one you wish to buy as there is such a variety of properties and prices.
We do recommend that you use a solicitor, as although not strictly necessary, it just keeps things nice and smooth and of course, gives peace of mind.
Unlike in the UK property in Turkey is generally, freehold even apartments, with all homes on a complex/in a block, owning an equal share of the land between them. There are exceptions to this rule, but, generally, not in the areas we cover.
A solicitor will typically charge £800 for their services and are able to provide these services to both the seller and buyer. If the buyer is not able to be present in Turkey for the sale, the solicitor can be authorised to complete the sale as per the buyer’s wishes. This can be done with a power of attorney to the solicitor.
Are Mortgages Available For Buying Property In Turkey?
Mortgages in Turkey are now available to all EU residents who wish to buy property in Turkey, however, we do advise if you can, for you to obtain in the UK as interest rates there are lower, if you have a good amount of equity in your UK home, releasing part of this works out much cheaper than getting a mortgage here in Turkey.
What Documents Do I Need To Purchase A Property In Turkey?
Your passport details are required to purchase a Turkish property along with a local tax number. We will take you to the tax office to obtain a local tax number for you. Your tax number is also required to open your bank account in Turkey, banks vary as to wishing proof of your residence in the UK so it is useful to have a copy of a utility bill that you have paid and also a council tax bill. You will also need two recent photographs (4cm x 6cm); you can get them done locally.
How Long Before You Move Into Your Property In Turkey?
This is dependent on if you are buying on a site, if a property has been sold there, previously to a non-Turkish national, as a military check is necessary on the property to ensure it is not in a restricted area and that it is fine for a non-Turkish national to buy there. If a military check has been carried out on the site or individual property in the last few years, then it is deemed as unnecessary and will not need to be done again. In this instance, your purchase can be completed as soon as your funds are ready.
If the above check has not been carried out, the Turkish Government offices can delay the final Freehold Title Deeds (Tapu) for your Turkish property. 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 really a formality and when everything is approved, it takes just one day to complete the property transfer.
Once approval has been granted you go to the Tapu office with a translator to sign your freehold ownership documents. Thereby, completing The Purchase of Your Property in Turkey
When a power of attorney has not been given, the vendor and buyer must be represented at the Land Registry Office for entry of the Title Deed into the Land Registry. Most buyers prefer to go to Turkey to attend personally. Should one or both parties have provided a power of attorney POA, it is not necessary to be there in person as the solicitor will complete and inform required parties.
Do You Have To Pay Tax If You Sell Your Property in Turkey?
At present, if you sell your Turkish Property within the first 5 years of ownership there is a property capital gains tax due on any profit. After 5 years it is capital gains free. Any tax paid to the Turkish government will be offset in the UK due to the Reciprocal Taxation agreement between Turkey and the UK. The solicitor will be able to advise on the total tax to be paid.
At the time of obtaining your deed, you will be required to take out a compulsory earthquake insurance policy, called a DASK policy, however, this does not cover you fully in the event of an earthquake and does not cover you for other things, such as flood, burglary etc. Therefore, as in the UK, it is advisable to take out standard household insurance which also includes a top up for the earthquake policy.
Healthcare For Non Residents
While not necessary to purchase or sell property in Turkey, it is recommended to make sure when travelling outside of your home country to have health insurance.
Most European health insurances are accepted in Turkey, and many hospitals have very good interpreters. English is spoken in most private doctors’ surgeries (although you can get most common European medicines without a prescription at the pharmacy), and if you need special medication you can check for availability at the pharmacy first. The standard of medical and dental care is very high, however, when travelling with Holiday Insurance, please double check if your policy is accepted at Private Hospitals as over the last year or two, many insurance companies now will only cover people if they go to the State Hospital. Fethiye State Hospital does have a tourism department, but, this we believe is only open in the day time.
If you are coming to live here full time then you will require a proper comprehensive long term policy in order to obtain a residence permit, this must cover you for all medical conditions/hospital stays. We can point you to companies who offer such policies, many banks, of course, offer them too.
You can stay for a maximum of three months in Turkey with your 90 in 180 days a multi-entry tourist visa, however, to replace this with a residents visa a link to information supplied by the Turkish Consulate is below, it is a much easier process than it used to be. If you are low on days on the current useable visa in the period and wish to come to Turkey to; purchase, sell, to complete finals steps, or simply to visit. It is recommended to acquire a Turkish residents process.
There is also a great resource on social media with valuable information which is generally accurate, if you wish to know exactly what you need to do for your residence permit, obtaining a car etc., please ask in the office and we will guide you to the site/page.
Kindly note all information given is for guidance, laws and regulations are subject to change