> Turkeys economy

> General information about real estate in turkey

> Your own turkish property step by step

> General expensives, taxes and fees

> Agents commission

> Services re-d Turkey

Turkeys economy

Even the turkish realestate market is growing especially in the last few years you can still get top situated properties. Increasing prices and an adaptation to the European market for the next years is very probable.

This tendency is strengthened - by so far all positiv turkish efforts becoming an EU member as well as the annual and continuous growth rate - of at last again 2,8 % - through which Turkey belongs to one of the growth-strongest countries of the world. The accretion of properties in Turkey was enclosed in the last 10 years average 5 %.

Stable politics and ongoing powerfull turkish economy take positiv influence on the inflation rate. Nowadays the inflation rate is below 10% (2004). Financial experts are talking about an inflation-rate below 2% for the near future.

General information about real estate in turkey

§ 35 of the land register law of Turkey says: foreigners are generally allowed to own or inherit property in Turkey. Buying a property for citicens of the EU, Switzerland, USA or Great Britan is rather simple, safe and without risk. (Citizens from other countries should first check here. )

Good knowledge about local conditions and the turkish real-estate law is important for the buyer.

In july 2003 the turkish law has been positivly changed for all foreigners interested in the turkish real-estate market. By the new law of the Tapu-office (§4916, Section 19 B. 35) foreigners are allowed to own properties all over townships and villages.

The only limitation is defined by the turkish military- and security-zone law (§ 2565) which prohibits foreigners to own land in marked militaryzones. It is necessary to get the ofical permisson from the turkish military headquarter in Izmir first. (12/2004)

For a more detailed description read the following section or visit the official webpage of the turkish embassy of the UK.

Your re-d partner supports you with all the forms and burocracy.

If you have any questions please contact us by email turkey@realestate-dreams.com, or by phone  Ilknur Tütken +49 - 7071 / 255321, or Mathias Fürlinger +49 - 711 / 6154292.

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Your own turkish property step by step

Your realestate purchase in Turkey should be prepared by following measures:

First check the existing Tapu (property registeration) from the present owner for anything exceptional or remarkable.

Even without offical need you should arrange a notary treaty

(about sale, reservation, building burdens, real-estate mortgages, etc.). The notary treaty should be at the latest signed on sales day.

notary fees: approx. 200.000.000 TL = approx. 110 €

The notray treaty should be translated by a legitimated translator in the language of the buyer. The cost of the translation are between:

50.000.000 TL = approx. 27 € and 100.000.000 TL = approx. 55 €

An offical announcement stating the change of the owner will always be needed. The necessary forms herefore are found and accepted at the local Tapu-office.

After the Tapu-office checked all forms they are sent to Izmir for the military zone check. Another 6-8 weeks later all formality is complete.

Now a signature appointement (sales day) can be arranged.

Ask your re-d partner for help and support.

Tip:

Leave a remark of the arranged notary-treaty on the tapu!

General organisation and changing registration of all building suppliers:

Beside the administrative tasks (Tapu-office) the registration or change of registration of various suppliers has to be done (phone, disposal, sanitary, gas, duty and basic registration changes). The registrations can be handed over by power of attorney to a familiar person or a familiar company.

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General expensives, taxes and fees

Unique taxes and fees

Land transfer tax:

The land transfer tax is calculated from the registered purchase price of the property. Momentary it's percentage from the registered purchase price is approx. 4.8 % (2004).

The land tax has to be transfered to the state-owned Ziraat Bank.

General fees:

for processing the land transfer tax.

approx. 50,- Euro

General fees:

for processing the tapu.

approx. 15,- Euro 

Costs for offical translator:

approx. 55,- Euro for the translator

Tapu-fees:

The tapu-office charges about 30,- Euros for further processing and sending all necessary papers to Izmir.

Regsitration or change of registration for electricity, sanitary, disposal or telephone

Change of registration:

Depending on the region, approx. 50,- Euro for eletricity, approx. 40,- Euro for sanitary

(If it is a first time registration cost will approx. be doubled.)

Registration of telephone approx. 10,- Euro

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Recurring taxes and fees

Land tax:

The amount of the yearly payable land tax is calculated from the purchase price.

Momentary it is 1/1000 of the registered purchase price (2004).

Buildings (general): 0,2 % (of the registered purchase price )

Apartment/ flat: 0,1 % (of the registered purchase price )

Property in a village: 0,3 % (of the registered purchase price )

Property: 0,1 % (of the registered purchase price )

Disposal fee:

The anual disposal fee is accountable at the local authority.

Costs approx. 15,- Euro (2004).

Property insurance/Security services/Facility manager and gardenservice: (optional)

influenced by type, condition and situation of the property.

Ask for our experience and price overviews.

Costs for eletricity:

approx. 0,18 Euro/kWh, normaly no monthly fee charged

Costs for sanitary maintenance:

approx. 0,60 Euro/m³, additional 1,00 Euro monthly fee

Costs for standard telephone line:

monthly fee, approx. 10 Euro

(The shown prices are guide numbers and without any liability. If nothing else is mentioned the information is from 10/2004)

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Agents commission

The normal commission for real-estate agents in Turkey is in between 3-5% from the purchase price. In most of our offers the commission is already included in the listed price. See property details for individual price information or ask your corresponding re-d partner.

Down payment (reservation) 

A sum of money which has to be understood as a down payment on the purchase of the property. It is a little percentage of the total amount of the property which the buyer hands over to the seller. The amount usually is regarded as assurance, that the property is purchased within a particular time period. If you decide after expiry of the period not to buy, then you lose the sum (guarantee amount) done before. If the seller, however, sells the property to another interested party before expiry of this period,  he must repay you the double sum.

In case of advanced purchase negotiations of a re-d Turkey object incurs that payment with signing of a preliminary contract prepared by us and insures buyer and seller until the definite sale of the property.

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Services re-d Turkey

Profit from our long-lasting experience and use our extensive services.

We help and support not only if you have translation or legal problems.

We can offer you comprehensive tips and contacts in the area.

and we support or offer:

• Translation services.
• Facility services.
• Planing, construction and renovation.
• Insurances for property,  or e.g. car in turkey.
• Opening a turkish account at a local bank.
• FullService i.e. communicating to the authorities concerning the Tapu
• Assistance for getting a residential permit (Ikamet)
• Assistance finding Cleaning- and Gardenservice
• Registration at the local comunity
• Registration of the change of adress, registration for electricity, sanitary, gas, telephone, etc.
• Assistance and overview for expecting costs (electricity, sanitary or telephone)
• Contacts
  assorted adresses and tips for restaurants, hotels, lawyers, or medical support,
• Hints for reliable Security Services

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