Property Turkey | Turkish Property | Real Estate Turkey

Property Turkey	PROPERTY SEARCH TURKEY
Turkey Investment Summary •Guaranteed rentals with as much as 7% available for 4 years •Low capital gains, reducing to 0% after 5 years •Low cost of living •New airport near Bodrum •No property tax for 5 years •Currently in talks with EU •Double taxation treaty with UK •17 million visitors per year •Two storey building restrictions in place
Turkey Introduction This mountainous country steeped in history stretches across twocontinents. Mainly in Asia, it also has 3% of its landmass in Europe. This results in an eclectic mix of culture and traditions, along with the fact it borders eight other countries.Turkey really is the place where east meets west, providing tourists with everything they could ever wish for. Bodrum, standing on the site of an old Roman town, is located within a conservation area along the Aegean Sea. This is a paradise of sun, sea, mountains and lakes that offers a completechange from the stress and routine of everyday life. From April to October, most places in Turkey have an ideal climate that is perfect for relaxing on sandy beaches or enjoying the tranquillity of mountains and lakes. For the investors out there Turkey offers a low entry level, fantastic rental options and the chance to buy into an up and coming market.	Turkey Country Info: REGISTER FOR YOUR FREE TURKEY BUYERS GUIDE Population:69,660,559 Capital:Ankara Languages:Turkish Area (km2):780,580 Currency:new lira Exchange rate:£1=TRY2.6 Dialing code:+90 Emergency services:112
Getting to Turkey: There is a number of airlines (e.g. BA, Easyjet) that offer direct flights to Turkey’s major airports, most notably Ankara, Istanbul, Antalya and Dalaman. Charter flights are also available to the likes of Bodrum, although the frequency of these drops during the low season. Buying process in Turkey: •When a property has been chosen, a verbal agreement is made between buyer and seller, at which point a small reservation fee is required. The buyer requests a copy of the title deeds (TAPU), and a number of checks are carried out on the property •A contract is 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 buyer 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 buyer’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 fees and taxes. The buyer then registers the title transfer •If buying off-plan, it is normal for a small holding deposit to be paid, followed by a 30% deposit shortly afterwards. For the remaining balance, most developers offer stage payments. Fees and taxes in Turkey: •Allow roughly 10% of the value of the property to cover all costs •Legal fees vary depending on how straightforward the process is but can be up to 5% •Stamp duty is normally 1.5%, and there are also local annual taxes of around 0.6% •On top of this, there will also be land registration fees, notary fees and translation charges for all official documents