Foreign citizens are increasingly interested in purchasing property in Turkey particularly along the southern and western coasts. Turkey is becoming a popular holiday destination with its immense un spoilt coastline and Mediterranean climate, which offers all-year-round sunshine. Also buying property in Turkey is seen as a good future investment considering the fact that Turkey is on the verge of becoming a member of the EU and is one of the fastest growing emerging markets in the world.
Buying a property in Turkey is a lot easier than in many other European countries. You can purchase land and property in your own name (or in several names if you are buying with a partner of friends), within the borders of municipality areas.
In order to acquire the title of a property, an application has to be submitted to the local Land Registry Office where the property is situated. After carrying out necessary searches and checks by Izmir Aegean Army, the transfer of the title is done by the Land Registry Office.
Buying Process
1-Agreement: Signing agreement with the seller and 10% deposit paid to reserve your new Turkish property from being sold to someone else. Agreement should include the delivery of the property, payment conditions, hidden costs, possible legal surcharges and other aspects.
2-Bank Account: We open bank account on your names , one is in English Pounds(£) for you to transfer the money and one in Turkish Lira(TL) for you to use in the future for direct debit for your utilities.
3-Passport Pictures:To be used in the utilities office (electricity, water), land registry and for your title deed (TAPU) 8 copies required.
4-Translation: Passports translated into Turkish by a sworn translatorfor legal procedures.
5-Notary(Solicitors): This is the final stage where you give İ.KRealty Bank the 'Power of Attorney' to make the necessary checks, surveys, buy the property on your behalf, connecting your utilities (electricity, water, gas)in your name and paying taxes and doing all paper work in order to get the title deed on your name.
6-Government approval: With all the paper work we have, we apply to Land registry Office in Kalkan and send your paper works to Izmir Aegean Army to check that the property you are buying is near the military zones or not. The Turkish Government needs 3 months to approve your permission to buy property.
7-Finally: When permission is delivered to the deed office in Kaş, we contact you to inform you that all paperwork completed, taxes paid and utilities connected by your Power of Attorney. Your deeds (TAPU) can be sent to you or we can look after them for you until you return to Turkey.
Buying Costs
Purchase Tax: 3% of Sale price to be paid to government
Cartography Office: Approx. 35 GBP to be paid to Cartography Office to get the map of the area to sent to Izmir Aegean Army
Education Aid Fund (EKP): Approx. 20 GBP to be paid to EKP to support Education Systems in Turkey
Compulsory Government Building Insurance (DASK): Approx. 40 GBP to insure your house for building only. It s compulsory by government since 2000.
Utilities (Changing utility names in to your name): Approx. 45 GBP to be paid as deposit to government for leasing the meters to be used for Electricity and Water. You may be asked different prices depending on the area you buy.
Kalkan Property & Villas
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