Q: How do I start the purchase process?
A: Please refer to Purchasing Process section.
Q: If I own a property in Turkey, is there a limit to the amount of times I can come to Turkey to use it?
A: No, there is no limit.
Q: Do I need to buy a visa every time I enter the country?
A: Upon entering Turkey, most foreigners will need to pay for a visa. Ask for the one which is valid for 3 months, a multiple entry visa (same price as the single entry visa), so when you next return to Turkey, if it is within the three month period, you will not have to pay the visa fee again.
Q: I want to stay in Turkey long term. Is this possible?
A: It is possible. You need to get a residency visa from officials for this.
Q: How long does it take until I own the property in my name?
A: It usually takes 3 – 6 months for the Title Deeds to come through. When this happens, the property will be in your name. However, in the meantime you can use the property when the payment is done.
Q: Are properties freehold or leasehold?
A: They are 100% freehold.
Q: What kind of taxes will I need to pay?
A: A Buyers Property tax, which will be approx. 1.65% to 3,3% of the sale agreement price depending on location . A Government tax – approx. £140. A Property tax – 1% of property price Community tax – paid twice or once yearly (only £10 for the year!) for local services. A law was passed in August 2003 stating that all persons purchasing property will have to pay Earthquake Insurance to the government. The amount depends on the property price and location, and is usually in the region of £40 – £80. The actual amount to be paid will only be determined once the Title Deeds have been authorized. Once the payment has been made for earthquake insurance, the government will issue clients with an earthquake policy. From then on, earthquake insurance will be paid annually.
Q: Is purchasing property in Turkey a good investment opportunity?
A: Currently prices in Bodrum are incredibly reasonable, so owning property is a fantastic investment opportunity. Prices are constantly rising, so purchasing now is a good idea! It is widely believed that Turkey will enter the EU within five years or so. Once that happens, property prices will definitely increase.
Q: Will I have to pay a tax on my rental income?
A: Foreigners that purchase property and subsequently rent it out are not taxed on this rental income. However, Turkish citizens who own property in Turkey and rent it out, are taxed on their rental income.
Q: If I purchase property within a complex, how much would I have to pay yearly for maintenance?
A: Maintenance costs for complexes vary considerably – from approximately £170 – £750 per year for the upkeep of the complex.
Q: A lot of properties have the facility of solar heating panels. Can these also be used in the winter?
A: It is a good idea to have solar heating panels installed if your property does not have one. Solar heating panels are used in the summer months to heat water. They are ecologically and economically sound. However, on overcast days or days when it is cold, especially in the winter, an electric heating water system is also required. If your property does not have one, it can be installed, for as little as £25.
Q: If we sell our property, can we take all of our money out of Turkey again?
A: Yes, you can. It would be better to do this via a bank so that money is recorded leaving and entering countries.
Q: I plan to live in Turkey. Can I open an interest account? How much interest will I get?
A: It is possible to open an interest account. We can assist you with this.
Q: What is the crime rate like in Turkey?
A: The crime rate is low in Turkey – definitely much lower than in Spain and other parts in Europe
Q: Can I have satellite TV installed?
A: You can have a satellite dish installed for satellite TV, so you can watch European programmes.
Q: Can I have a telephone installed?
A: If you have a residency visa, you can have a telephone installed. Otherwise, no. However, you can purchase a cheap mobile phone and all you have to do is purchase a SIM card from one of the shops in Turkey on a pay-as-you-go basis.
Q: What is the electricity voltage?
A: It is 220 volts. In some areas where power surges are a factor, the purchase of a regulator is a necessity as it smoothes out these surges before they reach the electrical goods in your property.
Q: Apart from Turkish Lira, what other currencies are accepted in Turkey?
A: Stirling, Euros and Dollars.
Q: We will be moving to Turkey permanently and want to bring our furniture with us. Is this a good idea?
A: Electrical goods are taxed heavily when entering Turkey. The cost of furniture is so reasonable in Turkey that it would be a better idea to sell your furniture back home and use that money to buy new furniture here.