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FAQ |
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| 1) Is purchasing property in Turkey a good investment opportunity? |
| Answer : Currently prices in Turkey are incredibly reasonable, so owning property is a perfect investment opportunity. Prices are constantly rising, so purchasing now is a good idea! It is widely believed that Turkey will enter the EU in the future. Once that happens, property prices will increase significantly. |
| 2) How is the purchasing process in Turkey? |
Answer : Buying process is much easier than in any other European countries.
Stage 1: We will draw up a contract between the buyer and the seller.
Stage 2: The legal translator takes the buyers passport to the Notary for translation which will take less than half an hour.
Stage 3: The agent will take the contract to a solicitor. The solicitor will check to ensure that the information on the contract corresponds with the information on the deed. Then, the parties will sign the contract.
Stage 4: When the Land Registry Office approves the application which will take approximately 2 months, the agent will sign over the deed to the buyer. At this point, the purchaser will pay purchase tax.
Stage 5: Sit back and enjoy the sun at your fabulous new home.
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| 3) If I have any problems/ questions while I am buying the property, or after the buying process, can I contact you? |
| Answer : Yes, definitely. We are dedicated to giving you the best service even years after you buy a property. As we are located in Manchester, UK, you will have the advantage of contacting us easily whenever you need something. Our agencies in Turkey also provide a great service and will assist you while you are holidaying in Turkey. |
| 4) Will I have to open a bank account in Turkey? |
Answer : Yes. According to the current regulations, any monetary transaction which exceeds 8.000 YTL (£3.000) has to be made through banks; hence you have to open one. Opening an account is very easy; you only need the photocopy of your passport and passport size photographs.
If you want to open a bank account while you are in UK, you can assign someone to carry out the transaction for you through the power of an attorney.
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| 5) If I plan to live in Turkey, can I open an interest account? How much interest will I get? |
| Answer : It is possible to open an interest account. The interest rates are currently between 21- 24%. |
| 6) What are the hidden costs for buying a property in Turkey? |
Answer : Purchase Tax: 1.5% to 3% depending on the area.
Council Tax: 0.1% of the purchase price.
Community tax: 8 pounds every year.
Agency fee: Legally the agency fee is 3%. We get 0% for a wide range of houses. Please check the property descriptions or give us a ring for further information.
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| 7) Where can I get finances to buy a house in Turkey? |
| Answer : You can either re-mortgage your property in UK, or you can get a long-term loan from the Turkish banks (max. of 20 years) by providing them with financial guarantees such as a bank guarantee letter etc. |
| 8) Are properties freehold or leasehold? |
| Answer : They are 100% freehold. |
| 9) Do I need to pay £10 every time I enter the country? |
| Answer : Upon entering Turkey, UK citizens will need to pay £10 per person for a visa. Eventhough this visa is valid for 3 months, it will be a single entry visa, which means that the client will have to pay £10 each time they enter Turkey. However, if they ask for a multiple entry visa (same price of &ponud;10), then when they next return to Turkey, if it is within the three month period, they will not have to pay the visa fee again. |
| 10) What are the doctors like in Turkey? |
| Answer : Most doctors in Turkey speak English and are very well trained. |
| 11) I want to stay in Turkey long term. Is this possible? |
| Answer : Yes, it is possible. Non Turkish citizens would need to apply for a residency visa. |
| 12) If I pass away, will the Turkish Government have any claim to my property? |
| Answer : No, they will not. The rules in Turkey are similar to English law; so that the husband/wife and/or children would inherit the property. |
| 13) Can I have satellite TV installed? |
| Answer : You can have a satellite dish installed for satellite TV. By doing so, you can watch programmes such as BBC World, BBC Prime, CNN International, Eurosport and many others. |
| 14) I will be living in Turkey for a good portion of the year. Can I buy a car? |
| Answer : Yes, you can. |
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