Buying Property in Turkey
Properties in Turkey remain relatively cheap, despite prices increasing dramatically during the 1990s. Although the market has been affected by recent financial events, it has proved to be much more robust than in many other countries. Since new laws came into force allowing foreigners to buy land, both demand and prices have increased. Prices, particularly along the coast, are rising rapidly, and are expected to continue to do so over the next five to ten years.
Foreign Buyers – Principle of Reciprocity
Foreigners can buy and own property in Turkey following the principle of reciprocity: if the foreigner's home country allows Turkish citizens and organisations to buy property, then the foreigner may, in return, buy property in Turkey.
Foreigners who come from Canada, from the majority of European Union countries including the United Kingdom, and from the United States can own property in Turkey.
Exceptions within the European Union are citizens of Belgium, Cyprus, the Czech Republic and Slovakia.
There are, however, further restrictions for foreigners wishing to buy property:
· There are restrictions in small municipal areas which have fewer than 2,000 registered inhabitants
· Foreigners may only purchase a maximum of 30 hectares of land; anything larger requires a permit from the Turkish authorities
· Foreigners cannot purchase property within a military zone
To ensure that all the conditions are complied with, military authorities check the details of the buyer and the intended purchase before a sale is allowed.
What to know before buying a house in Turkey
1) First of all make sure that the property meets your requirements. Do your research.
2) The distance to the town centre, super market and other places you may visiting frequently.
3) If all criteria’s are met, the next step will be to check the land record registry and the necessary documents also the maps for military clearance procedures.
4) If the property you are willing to buy is a local business then you have to check if there is any tenant, if so; you have to check the contract and make sure that you know the arrangement.
5) Monthly expenses, heating type, age of the building, installation type, security, noise and heat/cold isolation, parking area, surrounding and garden scheme. Make sure you have detailed information about these.
What are the legal procedures when buying?
Properties have to be trade with all legal regulations. This means; the selling contract has to be signed in the presence of a land registry officer. A Birth certificate or a valid passport with two extra passport photos is also needed.
After the documents you have deliver to the Land Registry Office, the investigation stage begins. If all necessary documents are completed, the land registry officer calculates the fees and taxes that have to be paid.
For more legal information: Link (https://www.gov.uk/how-to-buy-property-in-turkey)