Turkey Properties Buying Guide

Buying properties in Turkey is not as complicated as one might think. The procedure is often far simpler than in most other European countries providing you have the right legal representation

Foreigners may purchase land and property in Turkey under their own names provided that properties are not located close to a military airport, station or barracks etc. After an agreed sale, in order to acquire the title of a property, an application has to be made to the local Land Registry Office. The title may be transferred once checks have been made to ensure the property meets all the necessary legal requirements. Military approval also has to be given, an application has to be made by all foreigners wishing to purchase property in Turkey. At present this process could take anything up to 6 months.

Found Your Property

Once you have found the property of your choice you will need to instruct a solicitor. Although a lawyer/solicitor is not needed in Turkey it makes sense to consult one for your own piece of mind and cost approximately £500.00. 

After agreeing the price with the agent or owner, your next priority is for you and your lawyer to ask for a copy of the TAPU (title deeds).

The following should be double checked before proceeding any further with your purchase:

The TAPU (title deeds) really belong to the property you are interested in.

It is a residential or commercial property in a zone covered by an Implementary Development Plan or a Local Development Plan. (If not, you are prohibited from buying it, so there is little point in proceeding from here.) 

The property really belongs to the person who purports to be the ‘owner’ (your lawyer can ask to compare their ID card and the TAPU of the property).

If the property is held in joint ownership, it needs to be established whether all of the co-owners agree with the sale.

The TAPU does not prohibit the sale of the property. 

If you hope to build on the land, ensure the Local Development Plan allows this. 
The property complies with earthquake-proof standards and all building licenses and official permits were properly obtained.

The current owner(s) doesn’t owe any outstanding taxes, or debts to utility companies

If all the above is in place:

You will visit the solicitor, along with the translator and the contracts will be drawn up, while you wait, in both Turkish and English. 

The translator will go through the Turkish contract with you. If you are satisfied, the solicitor, translator, developer and yourself will sign the contract. 

The solicitor will then start the process of applying for Aegean Army clearance. 
You will then go before the notary, together with the legal translator.

To save you having to travel back to Turkey to sign legal documents, a 'power of attorney' will be appointed. Your solicitor can then handle matters on your behalf.

Remember, that to reserve a property you will need a 10% deposit.

Cash is the easiest way to pay the deposit but understandably most people do not want to carry around this amount of money in a foreign country. The easiest way to do it is to open a bank account in the resort area of your choice (preferably on the day of your arrival) and then if you have taken cash, deposit it in the account. To open a bank account you will need a tax number, this can be obtained locally. Your solicitor can arrange this for you. You will need your passport in order to obtain a tax number.

Costs

A 1.5% duty both for the purchaser and seller must be paid based on the purchase price of the property. 

In addition, there is an annual property tax, collected by the local government at the rate of 0.1% for houses and 0.3% for developed lands. New properties are exempt from 25% of the annual property tax for 5 years. All properties are subject to revaluation every year for tax purposes. 
The acquired property may be resold and the proceeds of the sale may be transferred out of Turkey. 

There is no time restriction for reselling property after having bought, you can have it registered in your name and resell it the next day. 

The buyer must pay a 3% agent's commission. These are standard terms offered by all Turkish estate agents in Turkey. 

As a next step, both buyer and owner (or their legally authorised agents) apply to the Turkish Land Registry, called the TAPU Office, for transfer of ownership.

From signing the contract you will normally be expected to pay the first payment of 25% within 30 days. Thereafter, on a new property, the balance will be in several installments over the build period. The final payment falls due when the keys are handed to the buyer.

Once you are the proud owner of a home in Turkey you are required to notify the municipality by the end of the year in which you bought it. You simply fill out a form and submit it to the municipality. Afterwards, the municipality will tell you when/how much ‘real estate tax’ (similar to council tax in the UK) you will pay