Purchase

Property Purchase Procedure

Buying a property in Turkey is a lot easier than in many other European countries.

In order to acquire the Title Deed of a property, an application has to be submitted to the local Land Registry Office in which the property is situated. After carrying out necessary checks for the above mentioned requirements, the transfer of the Title Deed is done by the Land Registry Office. A Tapu Expense of %1,5 company , %1,5 customer is collected from the purchaser during the transaction.

An annual property tax is collected by the municipalities (i.e. local governments) at the rate of
approximately 0.1% for land and 0.3% for property in the Bodrum area. In the big cities these figures are double. All properties are subject to revaluation every year for tax purposes. On newly built properties, within 3 months of construction finishing, the buyer must complete an official affidavit and submit it to the municipality for these tax purposes. We are happy to guide customers through this process for the first time.

The acquired property may be resold, rented out or willed and the proceeds may be transferred out of Turkey. Please note: Different regulations apply when a property is purchased for business related purposes.


Purchase Procedure

The purchase of a property is completed in three stages:

Stage 1 

The developer will draw up a contract with the buyer detailing the agreed terms and conditions of the purchase. A legal translator will be present at all stages to represent the buyer.

Stage 2

The legal translator then takes the buyer's passport(s) to the Notary for translation. This is necessary for the security and property location checks mentioned above. The translation takes a maximum of half an hour, after which the passport(s) will be returned to the buyer.

Stage 3

Once the application has been approved by the Land Registry Office( it takes 9 – 12 months for the security and property location checks to be made and approved, due to the high number of foreigners purchasing in Turkey), the developer will sign over the deed of the property to the buyer (assuming all outstanding payments have been received). It is at this point that the Tapu Expense of 3% is due. The developer pays 1.5% and the purchaser pays 1.5% of this cost.


Expences

- Notary - estimately 350 YTL.

- Tapu Expense - 3% payment based on the property value on the Tapu.
                         (Title Deed) the developer pays 1.5% and the purchaser pays 1.5% - one off payment.

- Property Tax - Annual fee of approximately 0.3% derived from the value stated on the Tapu. First payment due 12
  months after issue of Tapu.


Connection  of  Water & Electricity

- Water/Electricity - Approximately 450 YTL and then a bill every 2 months.

- Electricity - 3 price tariffs (inc. tax) at today's prices :
                   Peak time (6am – 6pm) – 12 kurus (5p) per kw.
                   Prime time (6pm – 10pm) – 20 kurus (8p) per kw.
                   Cheap time (10pm – 6am) – 6 kurus (2.5p) per kw.
                   Prices subject to change and times stated are approximate.
                   Bills are paid every 2 month.


Insurance

For buildings and contents allow approximately 450 euro per Annum depending on package required.


Maintenance & Security

Prices to be set but allow 80 - 100.- euro per month, depending on property type.
Water tank – 1.2 YTL (rd. 70 cts.) per m2.
Diesel oil – 1.5 YTL (rd. 85 cts.) per litre.
Pool chemicals – 400 bis 550 euro per year.
All prices quoted are today's listings but are subject to change on the 1 st January each year.
Electricity bills can be paid via automatic bank payments.
Water bills are paid direct to the Local Government Offices.


Aftersales Services

With many years of experience, the developers anticipate your needs and concerns as you prepare your new home to be exactly the way you want it. We appreciate that finding your way in a foreign country can take time. We are here to advise you and ensure that no time is wasted or mistakes made. As the owner of property abroad you may not be able to be here to oversee all the practicalities and installations necessary. 365 days a year, 24 hours a day, we aim to bridge that distance and guarantee that nothing is overlooked.

With long-established connections throughout Turkey, we are confident that all the bases are covered in order to meet your requirements and tastes, and to find the most efficient solutions to any problems that should arise. The key to your comfort and well-being is knowledge. Whether you plan for investment, to live, or holiday here, by using us as a resource to furnish you with the right information, you will be able to make the most of your time in Turkey.

Following the purchase of your property, the developer and the PGR holding provide you with a comprehensive Aftersales service. Our and their team is English speaking and expertly trained to guide you on every step of the way.

Throughout the construction of your property, each company will keep you updated with progress reports and photos of the development. Construction warranty and Aftersales works will be providet to you for the duration of that time agreed with each different company.

Our and our contracted partner companies representatives will accompany you to the Notary here in Turkey for the official translation of documents that will enable you to have utilities such as water, electricity and telephone connected in your property.

We also offer advice and assistance regarding legal procedures that can be carried out on your behalf and with your permission.