Turkey Buying Guide

With its stunning natural landscapes the Turkish Riviera is a relatively recent discovery for British holidaymakers and is continuing to grow in popularity.

Now is the right time to buy property in Turkey either for investment opportunity or as a holiday home - or ideally both! Turkey will eventually become an EU member and it is seen by many investors as a golden opportunity to purchase property now and watch as the boom moves from other popular West European countries.

The area is unique as it has the benefits of 300 days of sunshine a year and is known as the golfing region of Turkey. From Jan-Apr it also boasts a ski resort so the rental potential is excellent.

Buying property in Turkey is a lot easier than in many other EU countries. Foreigners may purchase property in their own name without any difficulty.

What is the first thing I need to do now I’ve decided to buy a property in Turkey?

You need permission from the Turkish government to buy property in Turkey. You simply fill out a form and submit it to the municipality. They will then tell you when/how much ‘real estate tax’ (similar to our council tax) you are going to pay. Register with a local tax office, and open a bank account to save time later.
For further information see: www.turkisheconomy.org.uk/buying_property.html.

Can I buy property anywhere in Turkey?

Foreigners may purchase land and property in their own name provided that it is located in a town. For example, it must be within the boundary of a municipality or borough and not in a village or rural area. It must also be outside military zones.

What is the process for buying a property?

First, a contract is drawn up between the seller and the buyer. The buyer’s passport is submitted to a Notary and returned after translation and checking, with security clearance to buy a property in Turkey. The buyer’s solicitor checks the property deeds (Tapu) to ensure that all the information corresponds with that on the contract.

All parties then sign the contract, witnessed by the solicitor, a legal translator and one other. You can give your Turkish lawyer Power of Attorney to act on your behalf with the legal formalities of the property purchase. It enables the person holding the power to sign documents, make searches, make payments etc. The greatest benefit being that the buyer does not physically have to travel to Turkey every time something needs doing in connection with the purchase.

To acquire the title to the property, an application must be made to the local Land Registry Office, who will carry out all the necessary searches and checks. You will need to supply your passport and 2 recent passport-sized photographs of yourself along with the title deeds.

Once these are completed, the deed of the property is transferred to the buyer.

What extra charges can I expect?

Lawyers/solicitors fees- (not compulsory but advisable) typical costs are around £750

Land Registry Fee- the most major expense payable to the land registry office is the ‘property transfer tax’ which is payable at 3% of the value of the property as declared on the title deed (equivalent of our stamp duty.)Additionally there are other charges which do not normally amount to more than £150.

Public Notary Fees- not always required but can be £100

Transfer of water, electricity and telephone accounts - £50

In summary, you should allow between 3% and 5% of the price of the property.

Getting there:

There are year round flights to Antalya airport.

Sun Express fly from Stansted on Monday and Thursday direct.

Cyprus Turkish Airlines fly direct from London Heathrow, Gatwick, Stansted and Manchester.

Turkish Airlines fly via Istanbul-business class is also available.

There are also now direct flights from Dublin to Antalya.

The charter airlines fly direct from May thru October.