Buying in Turkey
PURCHASE PROCEDURE FOR PROPERTY IN TURKEY
As a foreigner purchasing in Turkey you have to obtain permission from the Turkish military, this is only a formality and we have never heard of anyone being refused permission as a UK citizen. The costs for this involve a payment to the mapping department at the Dalaman Coucil offices for two maps to have your property pinpointed on a large scale and smaller scale map which is then sent with your application for military clearance. This costs about 400TL.
260 TL this covers your passport being translated.
650 GBP Lawyers fee-this amount varies depending on which lawyer you use, but this is an average price and the amount charged by a lawyer we often use. Again, this is optional but we recommend instigating the use of a lawyer in processing your house purchase.
The necessary Military permission takes approximately four-six weeks.
Once Military permission is granted the change over of tapu from vendor to you involves title deed transfer tax to be paid at the Land Registry Office. This is similar to UK Stamp Duty and is currently 4% of the price of the property as declared by the council on the Tapu (deeds). This is due to be paid at the time that the Tapu is transferred into your name.
Translator 150 TL [55 pounds] for translation services at the Tapu office.
Water and Electric Utilities to change the name from vendor to purchaser this costs 600 TL
Agents commission of 3% of the purchase price.
NOTE. Capital Gains Tax: When a property has been owned for five years or more, no Capital Gains Tax will apply.
The actual purchase process is very simple and easy in Turkey.
The following procedure is used:
- A contract is drawn up between the Vendor and purchaser using either a local lawyer or one chosen by the purchaser.
- A deposit is paid usually about 10% but can vary according to the wishes of the Vendor.
- Permission to purchase must be obtained from the Turkish Military Authorities in Izmir, we do this on your behalf.
- The buyer can give "Power Of Attorney" to their lawyer authorizing them to carry out all the formalities for the purchase and to give the buyer post purchase services. Power of attorney usually includes authorization to buy/register the property in the name of the buyer, official registration of water and electricity meters, insurance for the property, registration of property in the municipality departments, payment of local taxes etc.
- Legal fees including a translator and Notary costs are usually paid by the purchaser.
- Our charges of 3% commission are paid at the time of transfer of ownership to the purchaser.
Our company always investigates the tapu (Title Deed) to ensure that the property can be sold and there are no debts applicable.
RESIDENCY PERMITS
8-4-2011 The costs of a residency permit have come down considerably and are now:
One-year is now 120TL (about £50 or 80 US dollars);
Two years is now 210TL (140 US dollars)
Three years is now 300TL (200 US dollars)
Four years is now 390TL (260 US dollars)
Five years is now 480TL (320 US dollars)
This means that a five-year residency can bought for about £195 (at today's rate) – a massive reduction on the previous £370 being charged for a one year permit. The cost of a new blue permit book is still 149TL.