Why Turkey?

Turkey has a truly stunning coastline, great weather, fabulous food and the high standard of service that foreign buyers have come to expect from a second home destination. A wide choice of property, both new-build and resale, is available – and at a very affordable price compared to other, more established, European destinations.
 The country also has a feel of the exotic, and the reception from the Turks is never anything less than welcoming. Infrastructure is also good, with good quality roads and a wide choice of airports. In addition, the range of facilities and amenities, from water sports to Ikea, is nothing less than phenomenal.
 The cost of living in Turkey is also very reasonable – perhaps 30 to 50 per cent cheaper than Western Europe. All in all, Turkey has a great deal to offer the foreign buyer – be it for investment, retirement or just a holiday home.

Market&Locations

  Altinkum is a rapidly growing resort popular with British and Turkish tourists because of its sandy beach. It is close to Bodrum airport and offers some of the cheapest property on the entire Turkish coast.
 Bodrum is one of the country’s most popular resorts, with interesting sights, good shopping and excellent nightlife. Beyond the main town are a string of very different, smaller resorts. There is a wide selection of property from budget apartments to multi-million dollar villas
 Calis is Fethiye’s nearest beach resort and it is attracting British buyers in
droves thanks to some very affordable property and a long stretch of seashore.      
Hisaronu & Ovacik: Set in lovely mountain scenery with the Ölüdeniz lagoon nearby, these two resorts near Fethiye are hugely popular with buyers – particularly from Britain. However prices have risen dramatically in recent years.
 Kalkan is an attractive, friendly resort with plenty to do in the
surrounding area. The town has grown explosively in recent years and offers lots of villas and apartments for sale and rent.
Within 45 minutes of Antalya airport and close to the golf courses of Belek, Side has sandy beaches and Roman ruins which make it a popular family resort for British, Irish and Scandinavian tourists. The area has mainly apartment complexes with relatively few villas due to the high price of land.
 Alanya is a large seaside town with good beaches, entertainment and services. There is a wide choice of apartments and the town now has a large expatriate community. Development stretched for over 25 km along the coast, with prices dropping as you move away from the centre, to areas such as Mahmutlar.
We offer properties in the area of Bodrum due to its attractive coastline and exciting nightlife.
Getting There
Inspection trips are available for about €369 (£250).
 As yet no-frills airlines only fly into Istanbul, but many charter airlines fly to the coastal resorts in the summer season. Flying time is four hours. Major regional Turkish airports are Dalaman for the Aegean coast, Antalya for the Mediterranean coast, and Istanbul.

The Buying Process

The most common way to buy property is through the Land Registry Office (Tapu Dairesi in Turkish). The title deeds are signed over by the owner or his legal representative in the presence of a Land Registry official.   However, a foreign buyer cannot register as the official owner until the military checks are complete, which may take anything from several weeks to several months. One way around this is for the property to be held in your solicitor's name until the sale has been approved. If you choose to pay a deposit and wait, remember that any payments must be recorded in a contract

Taxes&Costs

It's normal to pay a 10% deposit to hold the property during the military investigation process. This deposit should be recorded in a short contract drafted by a solicitor.
 There is a 3% property tax based on the declared value of the property -usually lower than the actual purchase price.
 Finally, you'll need to pay a small fee (about £120) to the Land Registry, as well as compulsory earthquake insurance in some areas.
 Typical Costs
Property Value £90,000
Deposit (10%) £9,000
Stamp Duty £2,700
Land Registry fee £120
Legal fees £1,500
Total         £94,320

Links

www.visitturkey.com – official turkey’s tourist web site.
http://www.gototurkey.co.uk – various information about Turkey
http://turkishembassylondon.org – Embassy of Turkey in London official web site.
 
This web site provides general advice for guidance purposes only. It is recommended to seek professional advice before making any purchase. Contact us for additional information or services.