Frequently Asked Questions
Are there any restrictions of buying a property as a foreigner in Turkey?
- There are no restrictions for the properties we promote. However, there are restrictions in the rural areas and military zones. The diplomatic relations between Turkey and Syria, North Korea and Armenia is frozen . As some of the countries will not let a Turkish citizen to buy a property in that country, a citizen of that countries are not allowed to buy a property in Turkey. As for the Russian citizens a special permission is available to buy from the Ministry of Internal Affairs. (Disisleri Bakanligi)
Will the property be freehold?
- Yes – the properties Global_ Real Estate sells in Turkey are ‘ Freehold’.
Is it possible for a foreign company to buy a property in Turkey?
- If there is a reciprocal agreement between your country and Turkey, then ‘yes’ your company can buy a property in Turkey. As it is a complicated process, Global_ Real Estate will be happy to help you with the procedure. As Global_ Real Estate we have for 2003 of experience in the real estate market in Turkey.
As a foreign company, can my company establish an investment company in Turkey?
- Yes. Global_ Real Estate will help you establish an investment company in Turkey. Through this ‘Turkish company’ you will be able to arrange your investments.
Who sets the price of the property?
- The developer will decide on the price of the property if it is a new development. The price you will pay, should be the same, regardless of agent commissions, even if you buy from a third party or directly from the developer.
Who can sell property in Turkey?
- Anyone can sell their properties in Turkey but in touristic regions, jewelers, waiters and leather makers are known for property selling as well. With the experience for 2003 and happy customers in Real Estate Business, Global_ Real Estate Company is ready to work with you. Also Our company is registered with Chamber of Commerce of Alanya.
What is your fee as a real estate agency?
- Three (3) percent of the property price is paid both by the buyer and the seller separately to the real estate agent.
Why should I use a real estate agent?
- As a well established and professional company Global_ Real Estate will provide information and options on properties, and developers. A professional team will be by your reach 24/7 by phone or email.
Can foreigners loan money in Turkey?
- Through Deniz Bank, Global_ Real Estate, in partnership with selected construction companies is offering a 50% LTV (Loan to Value) fixed rate mortgage at 5% over a 10 year re-payment period.Global_ Real Estate will help you to get best offer from the financial companies.
What is the title deed like?
- Like all other property transactions, ‘Deed’ meaning ‘Tapu’ in Turkish, will be obtained through the Land and Registry office of the region of the property.
Do I need to own/apply for a residence permit in order to buy a property in Turkey?
What is the average deposit on a new development? Can I pay in installments?
- After the payment of reservation fee (varies between 3000 to 6000), you will need to pay %30 of the property value within following four (4) weeks. At the time of purchase, agreed by and depending on the developer, there can be a flexibility on the payment depending on your personal finances. Stage payments also accepted by most of the developers, which is to pay substantial sum after the completion of each stage of the building and again this will be agreed at the time of the purchase.
What are the community fees I will need to pay?
- Global_ Real Estate will inform you while you are purchasing your property, as it varies for each development.
What is the basic buying procedure in Turkey?
- Right after your reservation payment, Global_ Real Estate will arrange the title deed checks. The contract will be drafted for buyer and seller to examine and sign. Terms and Conditions, Payment Schedule and Completion Details will be underlined in this contract. After the signing of the contract and the payment of the deposit (%30 of the price), either ‘you’ or ‘the developer company on your behalf’, will need to apply for a security clearance. (which will allow you to proceed and buy the property) You can also attain a Power of Attorney to complete your paper work.
What are the documents required to buy a property in Turkey?
- Passport, to be copied and translated into Turkish. Passport sized photos. The notary office paper works required by the title deeds office and the Aegean Military Headquarters. (Military requires these papers to ensure that there is no intend for crime or activity against Turkey)
What is the next step, after obtaining the permission for purchase?
- Pre-completion checks will be completed by Global_ Real Estate. As with the supervision of the officer of Land Registry, ‘you’ or ‘your Power of Attorney’ will sign the deed of transfer, which will state you as the owner of the property. A property tax will be asked from you to pay by the Land Registry.
Is it possible to work with an English speaking attorneys in Turkey?
- Yes, there are English speaking attorneys which you can find or Global_ Real Estate can recommend an attorney to you.
Are there any other extra expenses for buying a property in Turkey?
- There are no other expenses than the ones stated above.
Why the properties in Turkey is cheaper?
- As Turkey’s economy getting stronger day by day, the properties in Turkey is a good option to invest. Also the mortgage system in Turkey is fairly new and providing new options for Turkish nationals, as well as the foreign investors interest towards the properties in Turkey, pushes the prices of the properties higher every day, which underlines to invest in a property in Turkey is a very good option.
What are the ongoing taxes I should be paying?
- State property tax,
- Environmental tax,
- Wealth tax.
Your attorney will provide details about these taxes.
Can I insure my property?
- Global_ Real Estate will help you with the property insurance options as well.
Can I rent out my property?
- Yes. As a touristic region, from April to October renting your property will be easier and the rent you can charge will be higher. As for the other months, you can still find a tenant for your property with a slightly cheaper rent.
Can you help with furnishing my property?
- Most of the developers offers furniture packs which you can buy online. Also Global_ Real Estate will provide help and information with furnishing as well.
How is the government system in Turkey?
- Government is elected by the Turkish citizens, democratically.
What about viewing trips?
Global_ Real Estate will ask you, what type of properties you would be interested in and will craft you a very unique personalized viewing experience.