Who can buy Property In Turkey?
Buying property in Turkey is easier than previous years and a lot easier than in many other European countries. Since 2012, the Turkish government reviewed the title deed (Tapu) laws which now enables foreign nationals from 183 countries to purchase property in Turkey. This includes all EU countries, Russia and the UAE. Please enquire for further details regarding your country of residence and property purchasing guidelines.
Do I Need a Bank Account?
Yes, with every house purchase in Turkey a bank account is required. Banks in Turkey provide a better savings account rate than most banks in the UK. The majority of home buyers in Turkey open a Turkish bank account and can possibly gain up to 10% interest on their savings.
Do I Need Residency in Turkey?
No, it is not compulsory that you have Residency in Turkey. However this is a simple and low cost option to obtain if you wish to visit Turkey throughout the year. Please read our visa rules and regulations.
How Do I Get A Visa?
Up until December 2014 you can still purchase visas at Turkish airports. However, it is advisable to use the on-line booking system to apply for your visa online.
How Long Does The Buying Process Take to Complete?
This can take anything between two to six weeks, depending if the property is new build, off plan or re-sale.
Do I Need a Lawyer?
We strongly advise you to acquire a lawyer who is thoroughly aware of the Turkish property law. Or, we at Oludeniz Homes can provide you with our independent Turkish lawyer who acts swiftly and professionally on your behalf. Contracts are drawn between buyer and seller making sure both parties adhere to Turkish Property Law. The cost of our own independent Estate Agent Lawyer is included in our costs.
What If I am Out Of The Country When The Sale Goes Through?
This is quite common with many foreign purchasers. A simple Power of Attorney is legally drawn to enable either Oludeniz Homes to complete the transaction on your behalf or our registered Turkish Estate Agent Lawyer.
What Exactly Do I Need to Do To Buy Property In Turkey?
Viewing Trips to Turkey are recommended with sufficient fundings to complete the initial transaction with a £2000 Pound or 10% deposit, a tax number and bank account is also required. Please take the time to read our Property Buying Guide in Turkey and contact us for a more in-depth discussion regarding the procedure and your personal circumstances regarding deposits and payment plan.
Can I Purchase Property to Gain A Rental Income?
Yes, a vast majority of foreign home owners in Turkey decide to rent their property to either holiday makers or long term residence in Turkey. Rental property is high in demand and can gain rental income from as little as £300 pound a week to over 1000 pound per week depending on the size of property and area it resides.
Do I Need Property Insurance?
It is compulsory in Turkey to aquire Earthquake Insurance in Turkey (Dask). Yes it is compulsory. We also highly recommend you purchase general house and content insurance alongside dask insurance.
Do I Need to Fully Understand The Turkish Language?
Not at all, there are thousands of expats residing in Turkey whom have little or no Turkish language skills. The majority of towns and regions have a good knowledge of the English language.