•  What is the advantage of buying property in Turkey ?

Since Turkey has been given the date of October 2005 for starting negotiations to become a member of E.U., you will be able to double and even triple your investment within a few years. Real estate prices are still very attractive in comparison with E.U. countries; take your chance to make a good investment for your future. And with the last changes in the regulations on property ownership for foreign citizens, buying a property is a lot simpler now and living cost is cheap compared to the majority of European countries.

NOW is the perfect time to make a good investment for your future.

v What can I buy?

Freehold property of land may be purchased by most foreign nationals, from a Turkish national or another foreigner, provided the property is in the local district ‘Belediye'. We hold a full list of those Countries who have reciprocal agreements regarding property purchase with Turkey . We can also show the exact locations of these municipality areas.

 v How many properties can I purchase in Turkey ?

 You can purchase as many properties as you want.

 v How long does it take to transfer the property in my name?

 It can take up to 3 months for the Title Deeds to come through. When this happens, the property will be officially registered in your name.

 v How do I pay for the property?

 It is advised that funds for the purchase should be transferred into the country through a Turkish bank and specifically identified for that purpose. The foreign currency should be sufficient to cover both the purchase cost plus other costs incidental to the purchase. You should keep all receipts to prove the original purchase to enable easy repatriation. A recent decree aimed at aligning Turkey 's currency laws with EU states that importation of foreign currency is free, it cannot be subject to any legislation and its origins cannot be questioned. Decree 32, August 1989

Article 4,0.

 v Do I have to use a solicitor if I buy a property?

 Technically No, however we will not sell any property to clients without using a solicitor. This is to protect our clients and have the guarantee that everything is done legally. This is peace of mind for the client and for us and only costs around 600 pound .

 v Are there extra costs?

 Yes, with some purchases from developers all costs (excluding lawyer's fees) are included, but with individual properties and some small developers only the purchase price is shown. This is always made clear on promotion material. The extra charges involved for a freehold or leasehold purchase payable by the purchaser can amount to up to 10% of the purchase price paid at the very top end.

Please note that the sales price for leasehold properties will be subject to a 5.5% lease arrangement fee.

 v Are there any annual taxes that have to be paid?

 Yes, there are 3 different taxes:

a) Community tax, approximately 8 Pound for the year, paid either annually or bi-annually for local services.

b) Real Estate Tax of 0.1% on the declared value of the property.

c) Government earthquake insurance policy between £ 20-£60 per year.

 v Can I have more than one name on the Title Deeds?

 You can have as many names as you wish on the Title Deeds. You will need to provide copies of passport, full names and addresses of all the persons whose names are to appear on the Title Deeds.

 v What kind of taxes will I need to pay when I purchase a property?

 A buyers Property tax, which will be approx 1.5% to 3% of the sale agreement price depending on the location. A Government tax of approx. £100. A Property tax of 1% of property price. We will provide a list of all charges before you decide to purchase.

 v Can I give Power of Attorney to my solicitor so that he can take care of all the legal formalities?

 Yes, when you give a power attorney to your solicitor, he or she will apply for the title deed on buyer's behalf and secures the property until the title deed is received. The solicitor will also purchase State earthquake insurance which is required by law.

 v Why do buyers pay 3% agent fee?

 According to Turkish real estate regulations, registered real estate agencies are entitled to receive 3% service fee from buyers and sellers.

Turkish Laws

 v Can the Turkish Government have any claim to my property should I die?

 No, the Turkish Government does not have any claim to your property. The same rules apply as in English law in that either the husband or wife will inherit otherwise it will pass equally to the children.

Tax Situation

 v Do I pay any Capital Gains Tax when I sell the property?

 Capital gains made from the sale of a property will be taxable in Turkey if the owner is a Company. Individuals do not have to pay capital gains. Provided they have owned the property for four years. In the UK capital gains may be taxable depending on the individual's situation. Current tax conditions were originally agreed in a double taxation treaty signed in 1986. These were amended in October 1988 and cover the reciprocal agreement relation to income tax and corporation and capital gains taxes in the UK .

Living Costs in Turkey

 v What is the cost living in Turkey compared to the UK ?

 About half of the UK cost of living.

 v Are the utilities expensive in Turkey ?

 Gas cylinders are normally used for cooking and can also be used for water heating. Cylinder refills cost approximately £10.0(a deposit is taken for each gas cylinder) and lasts approximately a month for water heating and 2-3 months for cooking.

Electricity is cheap approximately £0.05p a kilowatt. Bills are payable monthly at a local banks or directly to the Turkish Electricity Board.

Water costs approximately £0.40p per ton ( 1,000 liters on mains supply) or £3.00 per ton when bought from a bulk tanker. Site maintenance, groups of houses, particularly developments will form a management service, committee or company, to maintain common facilities, common gardens, repainting, etc. The cost of this will vary from development to development, but generally starts at around £200.00 per annum. Their conduct is governed by Turkish law.

Healthcare

 v What is the standard of healthcare in Turkey ?

 The standard is normally very good. All foreigners have to pay for medical insurance from the UK for short visits or in Turkey if you are staying for a long term. Most hospitals are private an have a good standard of equipment and qualified staff and best part of all they will not keep you waiting!

 v What are the doctors like in Turkey ?

 Doctors are well trained and most doctors speak English.

 v Are there any hospitals and schools in the district of major cities as well?

 In most of the districts there are least two fully equipped private hospitals and one governmenthospital. In each main town there is at least one private college (primary and high schools) mainly with English as primary language and Turkish government schools. There are also many kindergartens.

Banking

 v Can l open a bank account easily in Turkey ?

 Yes very easily. We will assist you with this. You will need to take your passport and Tax Number with you for the accounts to be opened. You can open an account in Turkish Lira, Sterling , Euros or Dollars. Setting up a bank account is also useful for paying utility bills via direct debit Utilities (Electricity/Water/Telephone)

 v What is the electricity voltage?

 It is same as the UK - 220 volts.

 v How do l get electricity and water to my house?

 If you purchase a new house then with the residence permits of the property, copy of tapu

(Title Deeds) and your passport you need to apply to Tedas for electricity and to Gatab for water.

The costs for new accounts are approximately as follows:

Electricity New Account approximately 120 €

Water New Account approximately 50 € PLUS Sewage infrastructure fee 75 €

If you purchase an old building with an existing account, you just need to get the account number and copy of passport and Tapu (Title Deeds).In this case the cost are as follows:

Electricity register transfer fee of 40 €, Water register transfer fee of 35 €.

 v Is the tap water safe to drink?

 Taps water has a high mineral content which will upset your stomach. We recommend you

drink bottled water at all times. Bottled water is very cheap!

 v Can l have a telephone installed in my house?

 If you have a residency visa, you can have a telephone installed. Otherwise you can use your

own mobile phone and replace the SIM card with a Turkish pay as-you-go SIM card available from many phone shops. lf you have residency you can apply for a telephone at Turk Telekom and you will be connected the next day, depending on availability in your area. Lines are generally good and Internet access easy and well serviced.

 v Can l have telephone / satellite line registered on my name?

 Upon receipt of the title deed (tapu) you need to apply to the Turkish Consulate in your

country for a 1-year visa. Upon receipt of that, when you come to Turkey , you need to apply

to the district's Foreign Police Department for a residence permit called the (blue book)

you can get a telephone / satellite line registered on your name. We will, of course, assist

you with this procedure. 

Driving in Turkey

 v Can l rent or buy a car in turkey?

 You can rent a car in Turkey providing you have a valid driving license from your own

country. We highly recommend that you hire a car first to see what it is like before

buying one.

 v What are the roads conditions like for driving in Turkey ?

 Generally the main roads are good and driving in Turkey is on the right hand side of the road.

Be very careful as not all drivers observe the highway codes, especially at round abouts!

 v How can l buy a car or a motorbike registered in my name?

 This is the procedure to get a vehicle you bought in Turkey registered in your name:

1) Obtain your residency and get a residence permit (Blue Book)

2) Apply to the Traffic Police Department to get a ''MA'' plate Misafir Araç Guest plate and the vehicle book.

lf you want to import your car to Turkey you will need to pay the tax assigned by the Turkish Costumes Office to the Local Authorities. We do not recommend bringing your

car to Turkey as the taxes for importing cars into Turkey are very high.

 Renting / Selling your property in Turkey

 v lf we sell our property can we take all of our money out of Turkey ?

  Yes you can take all your money out of Turkey . Our recommendation is to do this via

a bank account so that money is recorded leaving and entering Countries.

 v Can l rent my property and is my rental income subject to tax?

  Yes. We can assist you in renting your property. Contact us for details on how we can

assist you in renting your property. Rental income is liable for tax assessment in either the UK or Turkey and will be payable depending on your personal situation. We recommend you check with your accountant.

•  Can l sell my property and what are the costs for selling?

 Resale costs are approx 5% and property may be sold to Turkish, or foreign nationals

without restriction. Because of the change in law Lira is now convertible so

proceeds of the sale of a property can be converted to whatever currency and

subsequently transferred to any country you choose.

 v Should l insure my property?

 We would recommend that you should insure your property as you would in your

Country with both house and contend insurance.