Property In Turkey - Properties Bodrum - Real Estate - Immobilier
Questions & Answers
Q. What nationalities are permitted to purchase a property?
A. Some of the countries Turkey has a reciprocal agreement for the purchase of land and properties;
England, Ireland, Germany, Holland, Norway, Sweden, Denmark, Austria, Switzerland, Belgium, USA, Spain, Italy, Canada, Luxembourg, Australia, France, Greece, Portugal, Poland, Croatia, Israel, Finland, Estonia, Hungary, and some African and South American states.
Q. Do I have to be a resident or have a resident’s visa to purchase?
A. No. To buy a property you do not have to have a Residents visa. This is only required if you want to stay longer than three consecutive months, or wish to have a phone or buy a car. Then the three months tourist visa is not enough.
Q. What do I have to check before purchasing?
A. Check that there are no outstanding rental agreements or mortgages. That the seller has the legal right to sell the property and that they have a Tapu (Title Deeds) for it. If there is an agent how much commission is payable, commissions rates are usually very high in sales where European clients are involved.
Q: Is it possible to finance a property purchase in Turkey with a Mortgage?
A: At the moment there are no mortgage companies in Turkey that can offer foreigners a mortgage for property purchase. However this is likely to change in the last quarter of 2006. You may of course get a re-mortgage or raise the current mortgage on your existing property. We advise you to get in touch with your bank or financial adviser on this issue.
Q: Earthquake Tax?
A: It is a statuary government requirement that all new buildings have earthquake insurance cover.
Q. If I sell my property can I take the proceeds back to the U.K.?
A. You have the legal right to take the proceeds back to the U.K.
Q. Can I will my property to my beneficiaries?
A. You can make a Turkish Will and leave your property to your beneficiaries, however if you hadn’t made a will, the property goes to your next of kin.
Q. Can I import my belongings/furniture and car into Turkey?
A. You can, but it is expensive for transportation and Duty, so it may be advisable to purchase your furniture here.
Q: How do I furnish my property?
A: There is a wide range of furniture shops for you to explore in Bodrum. We are able to assist you or organise the buying in this regard on your behalf. You should allow anything from £5,000-£10,000 to furnish an average sized property up to show house standard.
Q: Where can I get house insurance from?
A: The Babadogan insurance company recommended by Aegean Sea Properties Ltd is government registered and will offer various packages to suit your needs.
Q. Are there any restrictions on where I can buy properties in Turkey?
A. In order to purchase property in Turkey, it is necessary to apply for military clearance. The reason for this application is so that the military can assess the suitability of the purchaser, property and location. The property is evaluated for any problems that may exist before sale; the location is checked against certain criteria that may negate the option to purchase. These criteria include the proximity to any military installations and in some cases to non-Turkish islands.
Q. What is a Power of Attorney?
A. A Power of Attorney is a legal document necessary by Turkish Law in order to allow a person of Turkish citizenship to procure a property in the purchaser's name. In other words: Power of Attorney: a legal instrument authorizing someone to act as the grantor's agent.
Q. Why do I need legal representation to buy a house in Turkey?
A. Legal representation is not necessary, but highly recommended. It is a safety net that ensures that a purchase goes through the right channels, offering the purchaser support in the event of anything unexpected occurring. For this reason we recommend legal representatives to all our clients.
Q: Can I rent out my property?
A: Yes. The main season is from April to October but you will still be able to rent it out over the winter at lower rates. At the height of the summer, you can expect a reasonable return.
Q: Does a double taxation treaty exist between England and Turkey?
A: Yes, Turkey is a signatory to a treaty for the prevention of double taxation with many countries of the world including England.
Q: Can I get a Telephone line / mobile phone?
A: Telephone lines can be obtained only by those holding residency. Mobile pay as you go phones are readily available.
Q. Are the properties freehold?
A. All Properties are freehold unless specifically stated.
Q: Can I change the interior plans in the early stages on construction? What about last stages?
A: Interior plans can be changed if requested at the early stages of construction. If changes are required when project is near completion then charges may be incurred.
Q. Where is the nearest airport?
A. Bodrum Milas International Airport is half an hour away from the centre of Bodrum.
Q. What is a Tapu? Will all the papers be in my name?
A. A Tapu is the title deeds for the property. A Tapu will be registered in either joint names or whomever the purchaser requests.
Q. Who will take me to the Notary? Will they speak English? Will all documents be translated into English?
A. All customers will be accompanied to the Notary by English speaking staff and all procedures explained in full. All documents are in Turkish but a translation of the Power of Attorney and any other translations can be arranged with a government approved translator.
Q: How does the general cost of living compare to the UK?
A: Fresh produce is great value for money. You’ll find most items up to 50% cheaper than in the UK with electrical items being the most expensive.
Q: What are the choices when eating out?
A: Again, you will benefit from the relatively low prices compared to the UK. Being a Muslim country, you will often find Pork excluded from the menu. However, there is a wide choice of other meats, seafood and vegetables. As well as Turkish cuisine, you will find English, Italian, and Chinese restaurants quite commonplace.
Q: Is there a good range of banks and are they English speaking?
A: There are many banks where English is widely spoken. It is easy to open a bank account and you can have both Turkish and English accounts.
Q. What are the monthly expenses, bills and taxes?
A. Monthly outgoings will vary according to personal use but a guide would be;
- Water approx 50-100 GBP per year.
- Electricity approx 10-15 GBP per 2 months.
- Property tax approx 50-100 GBP per year.
Q: How safe is the country?
A: Turkey is a very safe country with a relatively low crime rate.
Q: What healthcare facilities are available and what are the standards and costs like?
A: The standard is generally very good. All foreigners have to pay for medical treatment and there are reciprocal private health plans available from the UK which will be accepted in the private hospitals. You can purchase a health insurance plan in Turkey up to the age of 55 years.
Q: If I move to Turkey, can I take my dog/cat with me?
A: Yes. You must first obtain a ‘pet passport’ and vets documents.
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