Why buy in Turkey?
Turkey has suddenly become one of the most talked about locations in the world in terms of its emergence as a holiday location, a foreign direct investment hotspot and a real estate property paradise for all those seeking the ultimate in affordable, well located and beautifully constructed holiday homes or investment properties.
As well as being an excellent holiday destination, the country offers property at competitive prices and is ideal for those who can no longer afford traditional holiday areas such as Spain or Portugal.
The country boasts one of the world's fastest-growing economies, and inflation has been at its lowest for the last 37 years.
Those who have bought property in Turkey are already seeing good returns. To date, conservative estimates would advise on around 10-15% increases year-on-year. EU accession talks began in October 2005 - property investors see this as a potential long-term benefit.
Turkey has a wonderful climate with an average of seven months of sunshine each year.
The country's coastal areas are serviced by the following airports: Izmir, Bodrum, Dalaman and Antalya - all of which are open all year round. And, travelling around Turkey is easy - there is a good network of local roads, with bus routes, and cheap taxi services.
DST Property Centre can help you to get involved in this market with the minimum of fuss. With our extensive database of properties, we have something to suit everyone, contact us and find out how easy it is to find your dream home in Turkey
Why are people buying property?
Aside from the competitive property prices, Turkey has so much to offer; a beautiful climate, beaches and friendly locals. Many people who have visited for a holiday have discovered its charm and decide to return time and time again.
Q: HOW CAN I COME TO TURKEY TO VIEW YOUR PROPERTIES?
As soon as you have organized your flight to Turkey, contact us with your flight details, and we will arrange your airport transfers and your accommodation whilst in Turkey.
Q: IF I OWN A PROPERTY IN TURKEY IS THERE A LIMIT TO THE AMOUNT OF TIMES I CAN VISIT IT?
No, there is no limit.
Q: I WANT TO STAY IN TURKEY LONG TERM IS THIS POSSIBLE?
It is possible. UK citizens would need to get a residency visa from officials for this. DST Property Centre can assist clients with the process, clients would need to only pay petrol costs for the journey to the officials office.
Q: IF I DIE WILL THE TURKISH GOVERNMENT HAVE ANY CLAIM TO MY PROPERTY
Wont. The same rules apply to English law in that the husband/wife and children will then inherit the property.
Q: ARE PROPERTIES FREEHOLD OR LEASEHOLD?
They are 100% freehold.
Q: WHAT KIND OF TAXES DO I NEED TO PAY?
A Buyers Property tax, which will be approx. 1.5% to 3% of the sale agreement price depending on location . A Government tax - approx. £100. A Property tax - 1% of property price Community tax - paid twice or once yearly (only £8 for the year!) for local services. A new 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 £20 - £60. 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?
Currently prices in Turkey (especially in Altinkum) 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: Can I buy my property without a lawyer?
Yes, theoretically it is possible, everything can be done through the local Land Registry Office. However, we strongly advise you do use a lawyer. They lawyer will represent your interests throughout the entire purchase process.
Q: Is there a limit to how much land I can own?
At the beginning of 2006, the legislation was adapted to enable foreigners - from countries where a reciprocal agreement is in place with Turkey - to purchase land in municipality areas only. Additionally, they are limited to the amount of land they can purchase - a minimum of 2.5 hectares, and a maximum of 30 hectares
Q: IF I PURCHASE A PROPERTY WITHIN A COMPLEX HOW MUCH TO I HAVE TO PAY YEARLY FOR MAINTENANCE?
Maintenance costs for complexes vary considerably - from approximately £170 - £750 per year for the upkeep of the complex
Q: If I purchase a property in Turkey, will this give me citizenship, or any citizenship rights?
Buying a property does not give you any citizenship rights. A residency visa is still to be applied for should you wish to stay in the country for long periods of time. The approx. cost for a five-year visa is £900-1000.
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