Purchasing Property in Turkey
Buying a property in Turkey is a lot easier than in many other European countries.
In order to acquire the Title Deed of a property, an application has to be submitted to the local Land Registry Office in which the property is situated. After carrying out necessary checks for the above mentioned requirements, the transfer of the Title Deed is done by the Land Registry Office. An annual property tax is collected by the municipalities (i.e. local governments) at the rate of approximately 0.1% for land and 0.3% for property in the Bodrum area. In the big cities these figures are double.
All properties are subject to revaluation every year for tax purposes. On newly built properties, within 3 months of construction finishing, the buyer must complete an official affidavit and submit it to the municipality for these tax purposes. Artev are happy to guide customers through this process for the first time.
The acquired property may be resold, rented out or willed and the proceeds may be transferred out of Turkey . Please note: Different regulations apply when a property is purchased for business related purposes. |
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TurkishEffect.co.uk | Why Turkey? | Purchasing Property in Turkey
