TURKISH PROPERTIES LTD - PROPERTY IN TURKEY

FAQ

1. Do you organise the property viewing trips to Turkey?
2. What is the cost of living in Turkey?
3. What flights are available to Turkey?
4. Are there any limitations to buy a property in Turkey for foreigners?
5. Any pitfalls the buyer should be aware of?
6. What are the advantages of buying a newly built property in Turkey?
7. What are the document requirements to buy a property in Turkey?
8. What is the time scale to complete the purchase of property in Turkey?
9. What are the other costs associated with the purchase of property in Turkey?
10. Is it cheaper to furnish the property yourself or to use the Turkish developer's services? What can the buyer get for their money?
11. Are there any limitations to repatriate rental or any other income from Turkey?
12. What is the banking system like in Turkey?
13. How long can a British citizen stay in Turkey?
14. Can a British citizen work in Turkey?
15. Is it possible to bring personal possessions (furniture, pets, etc) into Turkey?
16. What are the standards and costs of medical care in Turkey?
17. How important is it to learn a Turkish language if you decide to live there?
18. How safe is Turkey?
19. What are the standards of education in Turkey?
20. What is the time difference with UK?

1. Do you organise the property viewing trips to Turkey?

Yes, we do. We organise the property viewing trips from UK to Turkey normally once a week. You need to indicate at least a month in advance the dates of your preferred travel out of the suggested schedule. You would need to fill the questionnaire at the same time when making a viewing trip reservation, which would help us to assess your requirements and find a suitable for you property. Your trip will include the excursions around the local area, so you know your neighborhood. Please refer to Fly & Buy page for the appropriate forms.

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2. What is the cost of living in Turkey?

The cost of living in Turkey is at least 50% cheaper compared to other countries in Mediterranean region, including the Northern Cyprus.

The annual community fees would be approximately 0.3% for land and 0.1% for property, depending upon the location of your property in Turkey. It is significantly higher in inner city areas.

Western Mediterranean coast of Turkey is famous for its restaurants to every taste and pocket, including English, Italian and Indian restaurants. An average restaurant bill with drinks per person is £ 10-15.

The cost of living in Turkey is significantly cheaper compared to UK.

3. What flights are available to Turkey?

You can reach Western Mediterranean cost by flying two airports -Dalaman (the closest one to Fethiye), Bodrum and Antalya. The flights to Antalya are all year round. Several airlines are flying to Mediterranean Turkey, such as Turkish Airlines, Cyprus Turkish Airlines and TWI flights (low cost airlines). You can always fly to Istanbul and catch an internal flight to Dalaman or Bodrum.

During the summer time a wide range of chartered flights to Turkey from different UK and European airports are in place. Due to the increasing demand of British people to spend holidays or time in their homes in Turkey, there are direct flights to the South of Turkey and talks are on the way to establish all year round trips. Without a doubt it will make this unspoilt part of the world more accessible, therefore Turkish property prices are expected to grow in the foreseeable future.

4. Are there any limitations to buy a property in Turkey for foreigners?

Yes. There are a lot of areas where a foreign person cannot buy a property in Turkey, particularly near the military zones and. It is not always obvious, so caution has to be taken when deciding where to buy a property in Turkey. Solicitors would be able to advise you on this, but always use a reputable international real estate agent who works only with the well established developers in Turkey.

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5. Any pitfalls the buyer should be aware of?

There is an astonishing amount of properties for sale in Turkey and in the South in particular with no titles deeds. Turkish properties without planning permission are illegal and the purchase of such homes will mean your money is wasted.
There are different title deeds that could limit your rights to use your property in Turkey. Different legal entities can have different rights on the building; some title deeds only apply to ownership of the land, not the building.Restrictions apply to historic buildings (be aware of the restoration projects), as all the activity will be stopped until further investigation.

Do not let this not put you off your decision to buy in Turkey! It is always safer to deal with a reputable international real estate agent, who has close working relationship with a well established developer in Turkey. Buying a new property also has an advantage of growing in value faster, especially in the years preceding the accession of Turkey to European Union. Always involve an English speaking solicitor, who will explain to you the sales contract. It is always possible to sign a reservation contract, before signing the main sales agreement when buying in Turkey, which gives you the time to consult your solicitor. There are many English speaking solicitors in Turkey. We can recommend to you one over there or in UK (which tends to be more expensive).

6. What are the advantages of buying a newly built property in Turkey?

The newly built property in Turkey from a reputable developer comes with guarantees. In the recent years the standards of the construction in Turkey have improved dramatically and the property will be given quality assurance. You will not require a surveyor, but they are a must when you consider buying a pre-owned property in Turkey. The title deeds should be checked very carefully with pre-owned properties, but when dealing with a reputable developer who builds to high European standards it is less likely, if not impossible, to come across such problems.

And last but not least, you would have good capital growth by investing in a newly built property in Turkey. The prices in Mediterranean Turkey have gone up by nearly 50% in the past two years.

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7. What are the document requirements to buy a property in Turkey?

All you would need is your passport and passport sized photographs. The authorized translator will prepare your passport, its translated copy and the photographs to the notary office. The Notary Public works closely with the Title Deeds office and the Army. Necessary checks will be performed that there is no criminal records of activity against Turkey in your name and that the property is not located in a military zone

8. What is the time scale to complete the purchase of property in Turkey?

It does not normally take more than 2-3 months. You do not have to be there, if you issue your chosen solicitor with the Power of Attorney. By Turkish law you or your representative (solicitor with a power of Attorney) would have to be present at the Registry on exchange of the title deeds.

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9. What are the other costs associated with the purchase of property in Turkey?

You will be paying: legal fees, including solicitor's fees which are variable; wealth tax (depending upon the area) and purchase tax of 3%, half of it is paid by the Turkish property developer. The latter amount is based on the title deeds.

10. Is it cheaper to furnish the property yourself or to use the Turkish developer's services? What can the buyer get for their money?

You can furnish your Turkish holiday villa or home for up to £10,000 up to show room standard (it does not have to be necessarily that expensive, starting from £5,000). The most expensive part of your purchase would be the electrical goods, however if you buy local brands with no compromise to the quality, you can make a significant saving. From the experience of our clients, we found that it is cheaper to use the after sales services of the developers, because they have bulk discounts from the furniture manufactures. You can also pay above the market rate, if you go to the shops on your own, as you will be seen as a foreign buyer with a high purchasing power.

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11. Are there any limitations to repatriate rental or any other income from Turkey?

There is no limitation on repatriating the profits, including the rental income from your property in Turkey. There is no restriction to let your Turkish property either; different rules apply for commercial property.

12. What is the banking system like in Turkey?

There are many reputable banks in Turkey and English is widely spoken in most of them. You would be able to open the currency accounts (in £) or in Turkish Lira (TL) which offer good interest rates. You would need to open an account in local currency to set up the direct debits for your water, electricity and other community charges, especially if you do not plan to live in Turkey permanently.

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13. How long can a British citizen stay in Turkey?

British and the majority of Western Europeans on arrival would automatically receive a three month visa. If you decide to stay in Turkey for a long period you can get an extension or if you decide to permanently settle there, you would need to get a residency permit, which is obtained from the Turkish Embassy of your country of residence before arriving to Turkey. Different rules apply to US citizens.

14. Can a British citizen work in Turkey?

Yes, as long as the permission to work is obtained. The salaries in Turkey are very low compared to UK, but you always have to bear in mind the low cost of living in Turkey as well.

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15. Is it possible to bring personal possessions (furniture, pets, etc) into Turkey?

There are no problems bringing your own personal belongings to Turkey as long as you have a residency permit. Otherwise you would not be able to clear your goods through the local Customs. Also bear in mind that you would have to pay import duty tax on electrical goods brought into the country. From our client's experience, it is cheaper to buy everything in Turkey; local goods are of good quality and significantly cheaper.

There are no problems, with bringing pets with you both as long as you obtain a "pet passport" and have the proof of all the vaccinations.

16. What are the standards and costs of medical care in Turkey?

Standards are regarded to be very high. Private medical insurance can be arranged from UK, which is accepted in private hospitals in Turkey. All foreigners have to pay for medical treatment. The costs are significantly lower and the standards are high, the language could become a barrier in the local hospitals, but translator's services are always at your disposal.

17. How important is it to learn a Turkish language if you decide to live there?

Not that important as English is widely spoken, however it is always an advantage to speak the native language, especially if you decide to live in Turley permanently.

18 How safe is Turkey?

According to the report published on Nation Master on crime statistics worldwide Turkey is on 53d place (4.2 per 1000 people), when UK is on 6th (86.04 per 1000 people).

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19. What are the standards of education in Turkey?

The standards of education are very high in Turkey. A wide choice of schools is on offer from statutory free schools to private international schools (where English is spoken). There is also a big choice of universities throughout Turkey.

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20. What is the time difference with UK?

Mediterranean coast of Turkey is two hours ahead of UK GMT time in winter and 3 hours in summer.