The Turkish people have always welcomed the British to their country, and this is certainly reflected in when it comes to helping them find a property to purchase in Turkey. As an exciting emerging market for overseas property investment, Turkey is a particularly hot territory at the moment – especially the coastal resorts and the Bodrum Peninsula – if you are considering purchasing property for rental purposes. Property prices are currently cheap and excellent value for money, but will not remain so forever, as Turkey becomes an established rather than developing market.
Changes to the law in 2001 mean that it is now easier for UK residents and other non-Turkish nationals to purchase land or property, providing a reciprocal arrangement between Turkey and the country of origin of the prospective purchaser exists – as it does for the UK and Turkey – meaning Turks can also buy property overseas.
Buying land or property for sale in Turkey can be a fairly simple, stress-free process, as long as the usual, expected care and attention is observed in keeping with that that any major investment would entail. The key is to try to ensure you always work with ‘the right people’ – professionals with experience in the Turkish property market who can guide you carefully and clearly through every step of the buying procedure. escapes2 and our Turkish associates unequicovally represent the level of professionalism and experience you need and should demand for buying property in Turkey.
Once you have chosen a property that matches your requirements and budget, the conveyancing process is not dissimilar to that of the UK in that it takes six to eight weeks to complete. Inevitably, there are also taxes and other fees to take into consideration. Normally, on the purchase of a property, the main costs involve a one-off 3% of the declared value of the property, and approximately £180 to cover official documentation for transferring ownership. You will also be responsible to pay around £30 “Education and Earthquake” Tax, and thereafter 0.01% of the property value per annum, payable to the local authority.
Further information on purchasing property for sale in Turkey can be found on the Investment Opportunities page of escapes2.com, but for detailed information beyond what is contained here, please do not hesitate to contact escapes2.com in the first instance.
Please use our property search facility and resort guides to find all properties for sale in Turkey.
