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Buying a property in Turkey is a straightforward process as all deeds are controlled and issued by the government and detailed records are kept in the district deed office. Foreigners may purchase land and property in Turkey in their own name provided that properties are not located in a military or government protected zone. As a matter of routine all sales to foreign citizens have to be approved by the army base in Izmir. This is the only lengthy part of the procedure, and takes 4-6 weeks to receive that approval.
Apart from this, the official procedure is a simple transfer of the title deed in the Land Registry Office. Although not essential we will recommend the use of a solicitor to carry out a detailed search of the title deed to ensure there are no irregularities and that the property purchase is stress free.
The stages of the purchase process are as follows:
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Property 4 Sale Turkey draws up a contract with the purchaser and vendor detailing the agreed terms and conditions of the purchase. A solicitor and legal translator can be present during the signing of the contract if requested by the purchaser.
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Title deeds to be double checked at land registry to ensure proposed property / land is legal, has necessary paperwork in place and has no debts attached. Property 4 Sale Turkey or purchaser’s solicitor to carry out these final checks.
Purchase Process
The main cost is the agreed purchase price for the property in question. This is agreed between the vendor and purchaser, and outlined with the terms and conditions of the sale agreement. For a re-sale property, the purchase plan usually lasts the
length of time required for the deeds to transfer (2-3 months). For an off-plan property, the payment plan will cover the build time. Again the final payment is made when the deeds have been transferred. In addition to the cost of the property, the following additional (approximate) costs should be taken into account:
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Property 4 Sale Turkey then takes the purchaser’s passport(s) to the notary for translation. This is necessary for the security and property location verification mentioned above. If more than one name is to be entered on the title deed, both passports must be translated. After this, the passports are returned to the purchaser.
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A deposit of 10% of the sales price is collected to ensure the property is taken off the market. As many buyers do not have instant access to this amount of money a holding deposit is taken and the balance of the deposit sent on return home.
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Our agency sends the passport translations and the title deeds to the relevant authorities.
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Terms and conditions of sale agreement including payment plan to be followed by each party.
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After 3 months when the approval is received from Izmir, each party to visit the land registry office and transfer the deeds to the purchaser’s name. It is compulsory for both purchaser and vendor to be present at the entry in the property register. If the purchaser is unable to return to Turkey at this time, it is possible on their first visit to give Property 4 Sale Turkey or their solicitor power of attorney to act on their behalf in this transaction. The deed will still be transferred directly into the purchaser’s name(s).
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During the transaction, a purchase tax of 1.5% is collected from the buyer and vendor, in addition to any outstanding payments, Government fees and Property 4 Sale Turkey agency commission.
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Passport translation costs & issuing papers £50 and the official translator costs £15
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Power of attorney costs £60, which includes transferring deeds and utility connections, and £15 for the official translator
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£430 for 1/5000 and 1/2500 map paid to local council
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Purchase tax of 1.5% of value written on the deed
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3% Commission to Property 4 Sale Turkey
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Title deed collection fee £40
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Utility connection, water, electricity, refuse £120 approx
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Annual land and property tax if property is older than 5 years. Approx 0.5% written on deed
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Solicitors if required for purchase £400 - £600
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Typical example for £100,000 property: |
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Purchase Tax |
£1,500 |
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Property 4 Sale Turkey 3% commission |
£3,000 |
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Solicitor fee (If employed) |
£400 |
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1/5000 Map from council |
£350 |
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1/2500 Map from surveyor |
£80 |
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Title deeds fee |
£40 |
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Notary fee, passport translation & issuing papers |
£60 |
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Total |
£5,430 (5.4%) |
Example additional costs
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Management fee (pool, garden, communal areas etc) |
£35 pm |
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Council Tax |
£100 p.a |
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Electric connection |
£50 |
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Water connection |
£50 |
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Insurance (inc Dask) |
£350 |
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Standard furnishing package 2 bed apart and garden furniture |
£4,000 |
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3 bed villa and garden furniture |
£5,000 |
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Electric metered per unit |
50p |
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Water metered per unit 60p |
60p |
We apologies if there are any discrepancies with the information supplied but to the best of our knowledge the above figures were correct at time of posting. For further information please refer to http://www.turkisheconomy.org.uk/buying_property.html which includes; Turkish tax law, residing in Turkey, explanation of title deeds, working in Turkey and English speaking solicitors.
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