Buying property in Turkey
Buying property in Turkey is a lot easier than in many other European Countries. Foreigners may purchase land and properties in Turkey in their own names as long as they are located in towns all around Turkey.
In order to acquire the title of a property, an application has to be submitted to the local Land Registry Office in which the property is situated. After carrying out the necessary researches the transfer of the title is done by the Land Registry Office.
In Turkey it is compulsory for both the buyer and seller to be present at the transfer of the property. A purchase tax of 3% is Collected from the buyer. The collected tax by the Municipalities is an annual tax at the rate of 0.3% and 0.1% for land and property in the Antalya region.
All properties are subject to revaluation for tax every year. The acquired property may be resold or rented and the proceeds may be taken out of Turkey. Step by step, you will make your decision. When you decide on a property to buy, you will sign an agreement between you and Yenisey. After that, you will pay a deposit to reserve the property.
For the translation of the documents, we will need a copy of your Passport which will be translated into Turkish in order to complete the legal documents. This will be done by a sworn translator. Passport photos are required for the title deed and used for your utilities. You will also give a power of attorney to a Solicitor or notary, this is purely related to the purchase of the property and the paperwork, access your utilities, paying taxes and bills on your behalf.
The notary also carries out the security checks on the property. Depending on the demand, the government approval for you to buy the property will take approximately 8 weeks. After permission is granted and the deed is received by the Deed Office, we can then, through the power of attorney, complete the paperwork and sort out your utilities. We will send you a copy of your property’s title deed, and keep the original one until you are able to collect it in person.