Buying property in Turkey is a relatively straightforward process.

1. Once you have selected your property of choice in Turkey, you will sign a sales contract with the seller, which will include the terms of payment and details of the property. At this point you will be expected to pay a deposit to secure the property and are advised to conduct all relevant checks regarding planning permission etc.

2. Once you have signed your sales contract an application will be made on your behalf by the agent or the construction company to obtain official permission to proceed from the Military authorities. This is a simple process but may take up to 3 months to complete and entails cursory checks into the purchasers background and the location of the property being purchased to ensure it is not in any unapproved zones.

3. Once the permissions have been granted then you are ready to obtain your title deeds (Tapu) from the land Registry office. This entails a transfer from the seller to the buyers name and both parties are present to sign the transfer documents. These formalities can also be completed on your behalf by granting a power of attorney to a legal representative.

 

What do you need ?

1. A local Tax Number - You will need to register at the tax office to obtain this number, this can be done by your agent and all that is required is your passport.
 
2. Turkish Bank Account – once you have a tax number you may open a bank account in Turkey under your name. All you need is a copy of your passport and a utility bill with your home address from your own country.

3. Passport – A copy of your passport will be required for military applications

4. Photos - 2 recent passport sized photographs for each buyer.

 

Who can buy real estate in Turkey?

According to the article 35 of the law, foreign real persons can acquire real estate within the boundaries of the Republic of Turkey with the reservation of being reciprocal and complying with legal restrictions. Please check to see if you country has a reciprocal agreement in place.

Countries which have a reciprocal agreement with Turkey for the purchase of land and properties are;
Angola, Argentina, Australia, Germany, USA, Andora, Argentina, Austria, Bahamas, Barbados, Belgium, Belize, Benin, Bolivia, Bosnia-Herzegovina, Botswana, Brazil, Denmark (Residents permission for 6 months is a must), The Dominican Republic, Ecuador, Elsalvador, Estonia, Ivory Coast, Phillipines, Finland, Ghana, Guinea, Grenada, France, Gabon, Guatemala, Guyana, South Africa, Haiti, Croatia, Netherlands, Honduras UK, Ireland, Spain, Israel, Sweden, Switzerland, Italy, Jamaica, Japan, Cameroon, Canada, Northern Cyprus, Columbia, South Korea, Costa Rica, Latvia, Leichtenstein, Lithuania, Luxemborg, Hungary, Malawi, Malaysia, Mali, Malta, Mauritus, Mexico, Monaco, Mauritania, Mozambique, Nicaragua, Norway, Central African Republic, Panama, Paraguay, Peru, Poland, Portugal, San Marino, Senegal, Serbia, Singapore, Somalia, Sri Lanka, Chile, Tanzania, Uruguay, Venezuela, New Zealand, Greece.

Countries with are allowed to purchase only property are;
Azerbaijan, Belarus, Chad, China, Morocco, Georgia, Iran, Kazakhastan( Resident permission for 6 months is a must), Kenya, Kyrgyzstan, Macedonia, Egypt, Moldova, Nabimia, Uzbekistan, Romania, Russia (Resident permission for 6 months is a must), Slovenia, Tajikistan, Uganda, Ukraine, Jordan.

Countries which are not allowed to purchase land or property are;
Afghanistan, United Arab Emirates, Burma, Algeria, Czech Republic, Indonesia, Eritre, Armenia, Ethiyopia, Fiji, Iraq, Cambodia, Qatar, North Korea, Kuwait, Cuba, Laos, Libya, Mongolia, Nepal, Nigeria, Oman, Slovakia, Sudan, Surinam, Saudi Arabia, Thailand, Tunisia, Vietnam, Yemen, Turkmenistan. This information was obtained from the Ministry of foreign affairs and should be checked regularly due to possible changes.

 

What taxes am I liable to pay for a property in Turkey?

Title Deed Fees
The registration of real estate is subject to a title deed fee. The fee is calculated at 1.5% of the acquistion/transfer value of real estate. The tax is payable both by the purchase and vendor, resulting in a total tax liability payable of 3%.

Real Estate Property Annual Tax
The holding of real estate in Turkey is subject to real estate tax. Real estate tax is calculated based on the construction costs that are determined by the Ministry of Finance and the Ministry of Public Works. The values of buildings and land determined by the Turkish Authorities are reviewed every 4 years.

Tax rates for 2009 are 0.1% for buildings used for residence. This tax is payable annually in two installments, the first being in April and the second in November.

Municipality tax for environment cleaning
Municipality tax for environment cleaning tax is levied for the purpose of environment cleaning if buildings are used for residence. Tax is levied at certain fixed amounts which change every year and are levied over water usage for buildings used for housing.