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The Buying Process

 

Question: How long does it take to fly to Turkey from the UK and which airlines fly there?

 

It takes from between 3 - 4 hours to fly from the UK to reach popular Turkish tourist destinations. The main airlines that fly to Turkey include Thomas Cook, Excel Airways, Aegean Flights, Turkish Airlines, Cyprus Turkish Airlines, Thomson Fly and First Choice.

 

Popular ways to search for the cheapest possible flight include the Skyscanner and Kayak websites. www.skyscanner.net and www.kayak.co.uk/flights respectively.

 

Question: What visa’s are required for Turkey?

 

All visitors to Turkey must have an entry visa which is £10 per person at the point of entry. This visa is for multiple entry and is valid for a three month period. It can only be renewed by leaving the country and re-entering. This can be done in a day by travelling to Rhodes but it is advisable not to do this too often. An alternative is to apply for a Residency permit. The permit is issued for a minimum of one year up to a maximum of five years and can be obtained locally. It will take between 3-8 weeks to process depending on the method of application.

 

Question: Which nationalities can purchase a property in Turkey?

 

Turkey has an agreement regarding the purchase of land and properties for nationalities of the following countries; UK, Germany, Austria, Switzerland, Belgium, Holland, Ireland, Spain, Italy, Canada, Luxembourg, Norway, Australia, France, Greece, and some other African and South American states.

 

Question: Where in Turkey can foreign nationals buy?

 

Freehold property or land may be purchased by foreign nationals as those listed above, from a Turkish national or another foreigner, provided the property is in the local district.  A foreign national may not purchase a property in the military zones.

 

Question: Is purchasing property in Turkey a good investment?

 

Turkey is a highly sought after holiday destination that attracted more than 23 million tourists to its stunning scenery, resorts and beaches in 2007. That figure is set to be surpassed this year, as the Turkish goverment spent over £50 million on tourism in 2007, and have pledged more than that for 2008. Rental incomes from letting property can be very good, especially in the high season.

 

Turkey enjoys a wonderful climate with a long summer season and very good quality of life, helping to make Turkey a location that is very much in demand. Property prices in Turkey are still very reasonable especially when compared with more expensive destinations such as Spain. However, prices are constantly rising, and so purchasing soon is highly recommended. Currently, property prices in Turkey are increasing steadily at a rate averaging at least 25% per year, with Turkey currently in talks for full EU membership in the future. Once they are accepted, it is agreed that property prices will increase significantly, and so therefore Turkish property offers enormous potential for returns on investment.

 

Question: What extra costs will I incurr when buying property in Turkey?

 

Total additional costs amounting to approx. 5% - 8% of the purchase price are:

 

Purchase Tax: 1.5% - 3% depending on the terms agreed with the developer. Some developers like those we deal with are happy to pay half of this tax.

 

Notary fee: £100

Solicitors fee: Approx. £200

Furnishings: £2000 - £7000

Compulsory Insurance: £150

Utilities connections: £200

Agency fees: 0% - 3%*

 

*A lot of Agencies, especially those based in Turkey charge the purchaser a standard fee of 3% when purchasing a property through them. We do not charge our clients any purchasing fees as we charge our fee to the sellers, the developers.

 

Ongoing annual fees include:

 

Annual purchase tax: 0.3% of the purchase price

Council Tax: Approx. £100 a year

Electricity: Approx. £100 a year

Gas: Approx. £25 a year

Water & Waste: Approx. £50 a year

Maintenance fees: £100 - £600 a year (if applicable)

 

Question: If I pass away, will the Turkish Government have any claim to my property?

 

No, they will not. The rules in Turkey are very similar to English law; so that the spouse and/or children would inherit the property.

 

 

Frequently Asked Questions