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In Altinkum/Didim/Turkey can anyone buy property which is for sale? Turkey has a reciprocal agreement for the purchase of land and properties with the following countries: England, Scotland, Wales, Ireland, Germany, Austria, Switzerland, Belgium, Holland, Spain, Italy, Canada, Luxembourg, Norway, Australia, France, Greece and some other African and South American States.
Which areas in Turkey can foreign nationals buy? Provided the property is within the boundaries of the local government (which ours is) and not in a sensitive area, the above listed foreign nationals may purchase our freehold property.
What documentation is required? 4 passport sized photographs, a tax number and a bank account (all of which we would assist).
How long does it take to get the title deeds? The delivery of title deeds would usually be on the date of completion.
Do I need a Turkish solicitor? According to Turkish Law, it is not a requirement to have legal representation during the purchase or sale process of a apartment/duplex or other property. However, as most foreign nationals do not speak fluent Turkish we would recommend you hire the services of a local solicitor whom would seamlessly arrange for all paperwork to be in order and arrange all utility connections (Water and Electric meters). Please Note: We can recommend a number of solicitors all of which would be independent from ourselves.
The properties for sale are in GBP but can be converted to Euros using the banks exchange rate of the day.
According to new building legislation all new buildings must be independently surveyed. As our development is under construction we undergo regular independent surveys.
There is no restriction on the number of the names that can appear on the title deeds.
A Visitor’s Visa allows multiple entries and are valid for upto 3 months (£10 to be paid upon arrival at the airport). Mortgages are available up to 75% of the purchase price or valuation with a maximum term of 20 years (depending on personal circumstances—see finance section)
Capital gains from the sale of a property are taxable in Turkey if the owner is a Company. Individuals do not have to pay capital gains, provided they have owned the property for more than four years. If your normal place of residence is Ireland and you are categorised as a normal tax resident, then capital gains may be taxable in Ireland (please seek independent financial advice).
Yes, many well-known international insurance companies and local Turkish companies offer building and contents insurance. How much are the Utility bills? Difficult to be precise as it varies dependant on the number of persons residing and their preferences. Gas is normally used for cooking. Cylinder refills cost approximately £16 (a deposit is taken for each gas cylinder). Electricity is cheaper than UK approx £0.09 per kilowatt. Bills are payable at a local bank or directly at the Turkish Electricity Board (TEK) office. Water costs approx £0.08 per ton (1000lt on mains supply).
Just as at home you can arrange for Direct Debit or Standing Order.
Yes, the local government will collect “Annual Property Tax” approximately £150 per year, Community fee’s for maintenance of communal areas of a site (Lighting, Pool and Gardens) £500 per year. Utility Bills (dependant on usage) and council tax which is approximately £100 per year. House and contents insurance will be approximately £180 per year.
If I want to sell my property in Turkey , are there any restrictions and what are the costs? Resale costs would be approximately 5% comprising of sales tax, local documentation and legal fees. Property may be sold to Turkish, or foreign nationals without restriction.
Yes, currently you can bring one cat, one dog, one bird or ten fish to Turkey by obtaining a certificate of origin and a certificate of health not more than 15 days prior to travelling. Airlines will also need to be advised of your intention to bring a pet with you when booking your flights.
Yes, Turkey has a very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies. Yes, a wide range of satellite TV services are available in Turkey.
Turkey has both public and private facilities available. Private facilities are to a very high standard and costs are approximately 40-50% cheaper than other European countries.
We would recommend you should make a Turkish Will and leave your property to your preferred beneficiaries - seek advice from your Turkish Solicitor. |
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