Buying a property in Turkey is a lot easier and more straightforward than you might think. Foreigners are able to purchase land and property in their own names if the properties are within the boundary of towns and cities. A foreigner is not allowed to buy prime agricultural land, property or land bordering an historical or conservation site.

Before buying land a search is carried out through the local council to ensure it is classified for building. In Turkey all title deeds are freehold including apartments with or without a shared swimming pool.

To get the Freehold Title Deeds for the property we will submit an application to the local Land Registry Office. In Turkey , both the vendor and the purchaser have to be present at the Land Registry Office to register the property - unless you have given power of attorney to someone acting on your behalf in your absence. It must be prepared legally by the Notary, (Turkish form of Conveyance) and the use of a lawyer is highly recommended throughout the purchase process.

As with most European countries there is a property purchase tax and Turkey is no exception. At the time of the deed transfer the buyer will be asked to pay a 3% property purchase tax of the total amount recorded on the deeds.

As a general guideline to some of the tax implications for owning a property in Turkey , you can expect to pay an annual Council tax of 0.1% of the value of the property. The local council collects this directly from the owner and in comparison to many other countries it is very reasonable.

If you sell your property within 5 years and the profit you would make is more than the maximum limit, you may have to pay capital gains tax. If you sell after 5 years there is no tax involved. All the monies can be transferred out of Turkey at any time very easily.

Once you have made the decision to go ahead with a purchase you will need to pay a deposit to secure the property for which you will receive a receipt. After approximately 2 months you will be expected to pay 50% of the remainder and the final amount on completion.

We will prepare a contract in English for the property purchase. This contract will contain full details of all aspects and internal fittings agreed at the point of sale. It will be signed by both the purchaser and the vendor in front of an independent witness; this will be the only legal document you will need in any court of law in Turkey .

For foreigners, when the property is being registered in their names, a background check will be carried out by the Aegean Army office to ensure that the property is not near an historical site, natural preserved site or military zone. This usually takes 3-6 months, after which time the deed will be issued.

Finance For Property In Turkey Mortgage For Turkish Real Estate

It is now possible for foreigners to get a mortgage in Turkey.

Please remember that if you intend buying in Turkey using a Turkish mortgage that documentation will be required whilst you are in Turkey.
Please ask us when planning your viewing trip what documentation you will need to bring.

Typical Mortgage Terms for a Turkey Mortgage (these vary from area to area and each bank has their own rates and lending criteria.)

Loan to value -  Maximum 65% of the appraisal value (not always equal to the sales price)
Debt to income -  Maximum net salary to spend to total loans instalments 50%
Valuation of income - Only salary income transferred to a bank account, average profit of the last 2 years, pension income
Maximum amount - No maximum
Minimum amount - € 30.000 euro
Nationalities -  All countries that have a reciprocal agreement with Turkey.(Based on these agreements foreigners of the following countries are eligible. UK, Germany, Australia, Austria, Belgium, France, Holland, Ireland, Spain, Italy, Canada, Luxemburg, Norway, Greece as well as some African and South American states.)
Maturity -  5,10,15 and 20 years
Loan in YTL -  Yes
Loan in euro -  Yes
Loan in Dollars -  Yes
Loan in British pound -  Yes
Interest types - Fixed
Early repayment - Possible ( penalty fee may apply)
Property valuation -  Done by Bank or appointed appraisal by Bank, pre-valuation paid by Bank
Age of application - 25 -70 years
Maximum age at end of maturity - 70 years
DASK: nature disaster insurance, House insurance; To arrange via Bank,
Life insurance - No obligation
Off plan mortgage - Yes, with full bank guarantee from constructor for the total loan amount
Monthly instalment payments - Automatic payment from a Bank account
Validity of the pre offer - 4 months

For more mortgage information please see: www.denizbank.com/en

Inspection Visits

FPD Turkey appreciate the importance of its potential customers, so we would like to offer a 3 to 4 day stay in Turkey for the purpose of viewing the many magnificent properties FPD Turkey have and to experience the surrounding areas and its amenities and to discuss our after sales and property management services.

We appreciate that your time here with us will be limited so with thins in mind your inspection trip will be tailor made to your requirements. So prior to your arrival we will collect as much information to help us recognize your needs and requirements to match you with properties that meets these, then the same member of staff from your initial contact will prepare an itinerary for your time here so no time is wasted and will assist you throughout your whole stay here.

What will be included in your inspection trip?

We will provide you with accommodation in a superb 3 * Hotel is great location. Transfers to and from the airport (a choice of Dalaman or Antalya). All that we ask is that you secure your own flight ticket & Insurance and should you pay a deposit and complete a contract of purchase, the cost of your flight tickets will be deducted from the cost of your property.
For help in finding and arranging your flights please contact our sales department who can search for the best prices for you.