|
Turkey Estate
Agents
Home
Properties
for Sale
How To
Buy
Area
Map
About Us
Contact
Us
|
HOW TO BUY
Buying property in Turkey is much
easier and more straight forward than many other countries.
-Foreigners are able to buy property in their own names almost
anywhere in Turkey. ( not in and around military zones and in the villages)-After an agreed sale, in order to obtain the Freehold Title Deeds
(Tapu) for the property, an application has to be submitted to the
Local Land Registry Office in the area in which the property is
situated.
It is necessary for both the buyer and seller to be present for
the entry into the property register, unless the purchaser has
already completed the necessary paperwork giving Power of Attorney
to an individual who can sign the relevant documents on the
purchasers behalf in their absence. The title may be transferred
once checks have been made to ensure the property meets all
necessary requirements. Completion of the whole process usually
takes about two months.
-As with most European countries there is a property purchase tax
and Turkey is no exception. At the time of deed transfer you will
be asked to pay a 3% property purchase tax on the total amount
recorded on the deeds (usually the buyer pays this tax).
-As a general guideline to some of the tax implications for owning
a property in Turkey, you can expect to pay to the council an
annual property tax of 0.1% of the declared value of the property.
Properties are subject to revaluation every year for tax purposes.
In addition, there is also a small community tax which is paid to
the council. This is paid for the provision of local services such
as rubbish disposal and general maintenance services to the area.
This means that you will have to pay yearly rates (or tax)
approximately 40 Pounds for apartments and about 100 Pounds for
houses and villas.
-For those property owners who intend to rent out their property,
a renting tax will also have to be paid on the income received
from tenants.
-The acquired property may be resold and the proceeds of the sale
may be transferred out of Turkey.
-You should also be prepared to pay approximately 40 Pounds for
electricity and water every two months dependent on usage (electric
& water are on a meter).
-Thank you for your interest in buying property in Turkey with ATA
Estates, and remember that we will be there to assist you
throughout the process, from finding you that perfect property to
acquiring your title deeds.
ATA ESTATE AGENTS |
