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Right Area
Buying Guide for buying property in Turkey
Basic
Facts - Buying
Process - Costs
Visa
/ Residency - Health
Population: 69.5 million
Capital: Ankara
Native Language: Turkish
Currency: New Turkish Lira (TRY)
Dialling Code: +90
Emergency Services: 112
Embassy: www.turkishembassylondon.org
- Having chosen a property a verbal agreement is made between vendor and purchaser. At this stage a reservation fee will be required. The purchaser requests a copy of the Title Deeds (TAPU) and a number of checks are then carried out on the property.
- A contract is then drawn up, giving details of the completion date, along with other terms and conditions. When this is signed by both parties, a deposit of around 10% is paid.
- The purchaser then applies for a security clearance allowing them to own a property in Turkey. Proof of ID and a copy of the current deeds are sent to the TAPU office at this point, which verifies the purchaser’s background and makes sure the property is not in a prohibited zone.
- When clearance has been given, both parties sign a final contract and the remaining balance is paid along with the fees and taxes. The purchaser then registers the title transfer.
- Stamp Duty: 1.5%
- Legal fees: 1% to 5%
- Agent’s fees: 3%
- It is compulsory to take out an earthquake insurance immediately after completionyers fees : 1% plus VAT
UK citrizens need a visa in order to stay in Turkey for any period up to three months. This is available at the point of entry for a fee of L10 and is valid for multiple entry in any three month period.
There is no reciprocal agreement between the UK and Turkey regarding medical treatment. Private health insurance is essential whatever length of stay.