When you are thinking of investing in property in Turkey it can seem very daunting to invest such a large sum of money in a foreign country.  Here are Resort Property we have put together a buyer’s guide to help you with any questions you may be asking yourself.  This guide can maybe answer some of the many questions you may have before you start the process of owning your dream home in Turkey.

Yes, most foreign buyers can own a property in Turkey due to recent changes in rules governing property ownership.   There is a reciprocity principle which means that allowing foreigners to buy property and land freehold in Turkey providing that Turkish citizens can also be permitted to buy land and property in the country of the purchaser’s residence or original country which includes the Middle East and the majority of Europe.

Yes, with affordable property prices Turkey has seen a huge demand in the purchasing of property by foreign buyers, especially from the Middle East.  With the fantastic climate, stunning beaches and friendly people, Turkey is now seen as a popular country to invest into real estate.  Architects and designers are migrating to Turkey to showcase their work.

The costs when you buy property in Turkey consist of stamp duty, 3% of the assessed value of the property, agency fees are also 3% and approximately £1000 in legal fees and an approximate cost of €500 for miscellaneous paperwork.  Prices in Turkey are still cheaper than many other countries although have risen significantly over recent years.  Once you have purchased a property in Turkey the future running costs are still much cheaper than the rest of Europe.  There is a huge variety of property for sale in Turkey in many different areas and to suit every budget, whether it be a small holiday apartment or a luxurious cutting edge designed villa there is a property to suit all pockets.

Legally no but we do advise that you use one when you buy your property in Turkey.  Fees are only in the region of £1,000 and we can refer you to a selection of experience solicitors or you can find one of the websites of the British Consulate, all of which are highly experienced in property purchasing.

Once you have decided on your property, we advise you then contact your solicitor who will start the ball rolling with the legal paperwork, the TAPU which are the title deeds and the Iskan which is the habitation license.  Normally you will pay a holding deposit, this can vary area to area, to the seller.  You can expect to pay between £1,000 and £2,000.  A set date will be agreed for the rest of the deposit which will be between 10 to 30 % of the purchase price, in order to do this, you will need to have or open a bank account and have a tax number.  This can be obtained from the local tax office.

Once the deeds and iskan are ready, the seller will need the balance of the purchase price, you will also need to pay taxes at this time.   Contracts are then drawn up by the solicitor to complete the sale.  After payment and signed contracts are completed the paperwork is sent for military clearance, once this has been authorised then the title deeds can be issued in the new buyer's name.  A UK based notary can be appointed to authorise the lawyer to sign on your behalf if you are unable to stay in Turkey while this is being processed.

You are looking at a time scale of between 8 to 12 weeks.  Since there has been a change in rules governing property ownership for foreign buyers the TAPU or title deeds can be issued quicker.

Although at the early stage of development you as a foreigner can apply for a mortgage in Turkey which will need to be in place before you make any offer on a property.  Probably the easiest way to finance your property purchase would be to raise the money against your own home.

In order to buy a property in Turkey, you will need a tax number, your passport, a bank account and passport sized photographs.

No, if you decided to sell your home in Turkey and you have owned it for more than 5 years there is no capital gains tax.  But if you decided to sell your home earlier than the 5 years there is a 15% sliding scale property capital gains tax due.  The exact date you purchased your property is shown on the TAPU or title deeds.  To calculate what amount of capital gains tax you are liable for is calculated by taking the original purchase price away from the sales value.

This is entirely optional.  If you are a UK based national your will should be updated to include your Turkish property.  You can also decide to make a will in Turkey for additional peace of mind.

Paying your bills by direct debit is probably the most efficient way to pay your household bills, easy to set up with your bank and peace of mind all bills are paid while you are away from your property.  Insurance is also important and there is a large selection of European Insurers who can help with this.  

You are allowed to rent your property out and can achieve a yield of between 6% to 10% per year.  There are many agencies who can advertise your property and also family and friends.  Income will depend on location of your property, size and time of year with the peak season of summer usually bringing in the highest prices.

Yes, if you are planning to stay in Turkey for longer than 90 days in 180 days.  If you stay for 90 days then you are not allowed to re-enter Turkey for another 90 days so having a Residence Permit allows you to spend as much or as little time in Turkey as you want.  If you want to apply for a Residence Permit then you need to apply within the first month of your entry into Turkey.  It is easy enough to complete the on-line application form or there are many companies who will complete it on your behalf for a fee.  In order to apply for a Residency Permit, you will need your TAPU or rental agreement, a copy of your passport, a copy of the entry date in your passport, 4 passport sized photographs and normally a bank statement showing you have enough funds to support yourself.  If you are over 18 and under 65 you will also need Health Insurance.

For work Permits, this will need to be applied for after you have been granted your residency permit, the documents needed are the same as for a residency permit but you will also need an application from the Ministry of Labour and Social Security.  If your work permit is approved then your passport is stamped showing your new work visa.

The standard of private healthcare in Turkey is very good and usually much cheaper than many other parts of Europe.  You will find most European health insurances are accepted in Turkey and there are many new purpose-built hospitals specialising in dentistry, fertility and cosmetic surgery and prices in Turkey are significantly cheaper than other countries.  Turkey’s public ambulance service is available for emergenices.

Yes, a foreigner can bring one pet dog, cat or bird into Turkey with them but must have completed the necessary paperwork and the animal has had all the required vaccinations, these include the rabies vaccination which is issued with a certificate, also you will need an International Health Certificate which will need to be issued no longer than 15 days before you fly.  A written statement from an approved and accredited veterinary surgeon confirming the animal is older than 3 months and a pet passport or an Identification car.  If all paperwork is in order, then there is no quarantine period when your pet enters in to Turkey.

Variable, with Turkey being such a large country the weather varies across the country.  The coastal areas that border the Mediterranean Sea and the Aegean Sea you will get very hot, dry summers but mild winters. Very harsh winters in the Anatolia area and areas that border the Sea of Marmara you will have hot summers and much colder winters.  The more popular tourist areas usually have hot summers but the weather is mild in the spring and autumn.

There are many airlines that now fly to Turkey and over recent years more and more budget airlines have now added to Turkey to their flight plan making it much more accessible and cheaper to fly here.

From the UK Sun Express and Corondon Airlines have recently added UK airports together with Tui, Jet2 and Easyjet who fly from all major UK cities.  The major carrier in Turkey is Turkish Airlines who also fly internally.  The third airport In Istanbul which opened in 2019 and has a massive 150,000 million passenger a year capacity is recognised as the world’s largest airport with 6 runways.   For clients travelling from GCC countries flying into Istanbul Ataturk International there are domestic connections to Bodrum, Fethiye and Antalya almost hourly.

This is just a quick guide to any questions you may have but it is vital you do your research, check out the company’s you are dealing with, check recommendations from past clients and never rush into buying a property.  Do the correct homework and use a reputable estate agent and you could soon be enjoying your lovely new property in Turkey.