BUYERS GUIDE

The system of property ownership in Turkey is based on the title of the property being registered the Land Registry.

Who Can Own Property in Turkey?
First the ‘reciprocity principle’ must apply between the country of the person wishing to obtain acquisition of ownership. In other words, if a Turkish citizen can become the owner of real estate in the UK, then the same right applies to a UK citizen in Turkey.

Selling Property in Turkey
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 one year. In the UK capital gains may be taxable depending on the individuals 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 in relation to income tax and corporation tax in Turkey and income, corporation and capital gains taxes in the UK.

Property Buying processes in Turkey for foreign citizens are straight forward:

1) Once you have decided which property to buy you need to sign an "agreement" with the Estate Agency and pay minimum 10% of the price as deposit to reserve it, and stop it being sold by the property owner to somebody else, until the procedures are all done.
A photocopy of your passport, details of your mother's & father's names and 4 passport size photos are needed at this point.

2) We go to the "deed office" to start the process of buying your property...
3) In Turkish Republic, the Government needs 3-4 weeks to approve your permit to buy property.

4) As soon as permission is received from the "deed office" we will let you know and you can arrange your flights and come to transfer the property into your name. The Agent + property buyer + property seller goes to the "deed office" to transfer the property with an authorized translator. After you pay the purchase tax ( %0,15 from buyer % 0,15 from seller) and earthquake insurance (these are required) the "deed office" transfers the property to you as the new owner of the property on the land register, and they give you immediately the "TAPU" in the land register which is signed on your name's. This page in the land register proves you as an owner of the property

Usually transfer of registering is completed in 1-2 hours...

FEES FOR BUYER:

The purchase price specified in the sales contract is not entered in the page in the land register. In Turkey there is a so-called value mirror. This means that the minimum price can be entered in the title deed. This is a legal process which can save you money but of course the actual purchase price can be entered in the title deed if your desire (this means, however, that the vendor and yourself will have to pay a lot more tax on the sale). The entered minimum price does not have any significance in terms of a possible resale. You, as the owner, can determine the selling price.

Sworn interpreter
The presence of a sworn interpreter during the registration at the Land Registry Office is required by law. The translation is confirmed by the interpreter’s signature: Euro 50.-

THE TAPU IS ONLY ISSUED AT THE LAND REGISTRY OFFICE IN THE PRESENCE OF A SWORN INTERPRETER. NEVER ACCEPT A TRANSFER OF OWNERSHIP THROUGH A LAWYER, A NOTARY OR THROUGH SO-CALLED FRIENDS OR ACQUAINTANCES!

Costs of electricity, water and telephone :
Electricity Registration of a new connection (once only): Euro 96,90.-
Transfer of an existing connection (once only): Euro 19,38.-
Costs per kWh up to 150kWh / starting from 150 kWh Status: Euro 0,11 / 0,17

Water:
Registration of a new connection (only once) Euro 62,02.-
Transfer of an existing connection (once only Euro 40,31.-
Costs per m³ up to 20/ starting from 21 up to 40m³ /
starting from 41m³ Euro 0,31 / 0,47 / 0,87
Monthly contribution Euro 0,87.-

Telephone:
Registration of a telephone connection Euro 7,75.-
Costs per telephone unit Status Euro 0,04.-
Monthly contribution: Euro 8,88.-

We  show the  Real estate buying procedure in Turkey for foreign citizens below in 4 simple steps…

1st step > > AGREEMENT

When you decide which property to buy you will need to sign an agreement with the real estate company. After signing the agreement you pay 1/3 of the price as a deposit. This way you’ll reserve the property and stop it to be sold to someone else by the property owner.

*In this level we need a photocopy of your passport, details of your mother and fathers names and 4 passport size photos….

2nd step  > > START UP THE PROCEDURE

We go to the deed Office for starting  the process of buying the Property

3rd Step > > WAITING FOR GOVERNMENT APPROVAL

In Turkey government approval takes 2-4 weeks for foreign citizens. And then the government approves your permit to buy property.

4th Step  > > REGISTERING

Tapu

  When the permission is received from the deed Office we will inform and let you know. After that you can arrange your flight and come back to Turkey to take the property on your name. (Also you can give Proxy to us or someone you trust to take the property on your name and then you don’t have to come back in Turkey) Buyer-Seller and the Agent goes to the deed Office to transfer the property with a sworn translator. When you pay the purchase tax and earthquake insurance (these are must) the deed Office finishes the transferring of the property on the land register and they give you the TAPU in the land register, which is signed on your name or names. This page in the land register proves you as the owner of the property. Usually registering transfer is completed in 2-3 hours.
 

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