Frequently asked question (Turkey real estate)
Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate in Turkey. Also, begin to think about important things to consider when diving into your real estate search.
Do I need to carry an ID when travelling within Turkey?
You are required at all times to carry an official ID with photograph whilst in Turkey. This can be your passport, ID card, driving licence, or photocopies of these.
Is there much crime in Turkey? Is Turkey safe?
Interpol ranks Turkey as the safest holiday destination in Europe for travelers. For sure common sense precautions should be taken against petty crimes such as pick pocketing, bag snatching etc. but by and large visitors will find Turks to be friendly and helpful.
Do I need a visa to visit Turkey?
Depending upon your nationality, you may need a visa to enter Turkey. Sticker type visas are issued at the port of entry and allow staying in Turkey for up to 90 days. It costs 10 GBP for the UK and 10 for Irish and European passport holders. If there is more than one person travelling on the same passport, each individual is liable to pay the visa fee.
What is driving like in Turkey? Can I rent a car?
As in the most of the Mediterranean, Turkish Drivers may appear to drive “crazy”. Regarding road conditions; Turkish Roads and Highways are generally in good repair but some coastal or mountain roads can be a little narrow and winding.
You can rent a car in Turkey. Car hire companies and police will require you to show your full driving license from your home country. If you have your full driving license, you won’t need to obtain an international one.
Are there any insects in Turkey?
There are mosquitoes in certain areas so it is also a good idea to take precautions in your bedroom with a mosquito plug, spray etc. These can be provided by the local pharmacies as well.
Can I use my Credit Card in Turkey? Can I use Travelers Cheques?
Credit cards are accepted in most shops and restaurants in Turkey. However, the smaller shops may not accept credit cards, so it is generally a good idea to try always to have some cash handy.
Travelers Cheques can be cashed at banks and exchange bureaus, against a fee. It is also worth to ask your hotel as they may cash Travelers Cheques as well.
Shall you help me renting out my property?
We help our customers to rent their property under secure conditions for long term. We do not give service for short term rentals.
I want to open a bank account in Turkey. How can I open a bank account?
You need a tax number and address evidence. When you plan to come Turkey, bring an address evidence where your address and name written on the bill. According to the bank legislation, your address must be proven by an electric, water or internet bill which shows your address and name.
If I buy an apartment under construction, how much deposit is required? Can I pay in installments?
You pay approximately 3,000 Euro reservation fee upon contract signature. Generally 30% as a deposit within four weeks is required. Most developers offer payments on stages like the completion ratio of each building stage. Circumstances may vary from one developer to other developer. For certain answer, you need to ask to our sellers payment plan table of each offer.
Is there a negotiation custom on purchasing a property?
Yes and No. Negotiation depends on the sellers habits. Because every property has different owners, some negotiate and some not. In Turkey, most of the mega project owners does not negotiate on price. They use mostly campaigns to pump up their sales. So better to catch these campaigns.
How can I get Turkish citizenship?
There are 2 ways to get Turkish citizenship.
1- Fast way is to buy property worth of 250,000 Dollar or higher, read here OR
2- buy any value property and keep it for 3 years with renewing your residence permit. You may read detailed citizenship in Turkey page for more information.
How can I be protected against exchange rate movements?
Almost all listings and property deals are in € or USD in order to prevent all parties against exchange losses equally. On the other hand in case you prefer to make a deal with another convertible internationally traded currency (GBP, CHF, DKK, SEK, NOK etc.) to protect yourself against exchange rate fluctuations , we can assist you to secure a rate fixed on the date of signing the sales agreement.
Is there property management service?
Yes, some developments are managed by professional companies, while others by developers or the owners themselves.
What is the government system in the country?
Turkey is a republic governed by parliamentary democracy and member of NATO and in the process of accession to EU. The country is already member of the European Customs Union.
How does the general cost of living compare with Western Europe?
The general price level for fast-moving consumer goods is up to 50% lower than most Western European countries. Although, some luxurious goods might be more expensive than in your country.
What about furnishing my property?
Some few developers offer furnishing packages. Besides, we will assists you without any extra cost to purchase any items to furnish your property.
Can I rent out my property?
Yes. The main season is from April to October but you should still be able to rent it out over the winter months at lower rates.
Can I insure my property?
Of course, we will help you to insure your property at most favorable rates
Are there any ongoing taxes?
State property tax and environmental cleaning tax. However, these are relatively low and mostly less than 100 Euro all together.
What should I expect to pay in maintenance charges?
This varies from development to development between 120 – 900 Euro per annul depending on size & facilities at the complex or community. In most cases for a 2 bedroom apartment it is 50 Euro/month. We will inform you about this matter before purchasing.
What are the costs associated with buying property in Turkey?
The costs related to buying property are in general around 4% of the value of the property.
Are there English speaking lawyers in Turkey?
Yes, there are English speaking lawyers and we can introduce them to you during your viewing trip.
What documents are required?
A copy of your passport translated into Turkish, 4 passport sized photos and a Turkish tax number to be able to purchase a property in your name. We will help you to obtain a Turkish tax number from the local tax office.
What is the general buying process in Turkey?
After paying the reservation fee, we will carry out the title deed checks. A contract will be drawn up between the seller and the buyer. This will give the details of the completion date, payment schedule, terms & conditions. When this is signed by the parties, the down payment is paid. You then apply for a security clearance to allow you to own a property in Turkey – this will often be applied for you on your behalf by the developer. You can sign a Power of Attorney at the notary public to conclude all the necessary paperwork if your circumstances require so. When security clearance is obtained you (or your attorney) will sign a deed of transfer in front of an officer of the Land Registry Office who then records you as the official owner of the property.
On a new development, what is the average deposit required? Can I pay in installments?
You will normally pay approximately 2-3,000 Euro reservation fee and then 30% as a down payment within four weeks from signing the purchasing contract. Most developers offer stage payments (lump sum to be paid at the completion of each building phase) often with a degree of flexibility towards your personal circumstances. This will be agreed at the time of purchase. Payment terms are in most cases negotiable with the property seller/owner or the developer.
Can foreigners loan money in Turkey?
Yes. When applying for a mortgage loan you will need to document your income whether in your home country or elsewhere. We will assist you to obtain best financial product/solution at the current market conditions. There are some high street banks in Turkey where you can obtain mortgage on the property you buy in Turkey.
Who can buy property in Turkey?
All nationalities can buy property in Turkey except of North Korea, Armenia, Nigeria, Cuba, Yemen and Syria.
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Why should I use a real estate agent?
Going through an Established Estate Agency, First of all you will get to see a wide range of properties that match your criteria and not just one specific developer’s. Secondly, you will have the benefit of our international standards and experience in addition to a fully staffed office to support you both in Turkey and back home.
What is the Real Estate Agent Service fee?
Whenever a property is sold, registered and certified real estate agents are entitled to receive 3% service fee based on the actual sales price of the property from the purchaser and the property owner separately.
Can everybody sell property in Turkey?
No, in order to Turkish law only certified and registered real estate agents can mediate and offer brokerage services. our company is an authorized and certified real estate agency registered at Alanya Chamber of Commerce and Industry (ALTSO).
Who sets the price of the property?
If you are purchasing a property on a new development, the price will be set by the developer. Otherwise the owners define the prices of their properties for sale. Whether or not an agent is involved in the purchasing process you will pay the same price for the property. Thus it’s preferable for any buyer to buy through an authorised & registered agent in order to ensure that buyer’s interests are taken into consideration.
Can my company establish an investment company in Turkey?
Yes. If you wish to invest in Turkish properties through a professional entity in Turkey, we can help you to establish a Turkish company.
Can foreign companies buy property in Turkey?
Yes, but it is a complicated and lengthy process that requires ministers council approval which rarely happens. Foreign companies should therefore establish a Turkish subsidiary enabling them on an equal footing with other Turkish companies and citizens to buy and sell properties.
Will the property in Turkey be freehold property?
Yes, all properties we sell in Turkey are freehold property.
Are there any restrictions for foreigners when purchasing property in Turkey?
Only in rural areas and military zones. In the developments that we promote there are no restrictions imposed.
Do I need to get a residence permit in order to buy a property in Turkey?
No, you don’t need a residence permit to buy a property in Turkey
Can I get residence permit in Turkey if I buy a property in Turkey?
Every foreigner can receive residence permit for 2 years (every 2 years renewed with Tapu) until you sell your property.
Please do not hesitate to contact us if you have any further questions