Myndos Properties
Turkey
 
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Buying Guide

While there are pitfalls, in the right hands buying a property in Turkey can be a safe and relatively straightforward process.

Inspection Trips
Upon deciding to come to Turkey we can assist with your accomodation arrangements and be there to collect you from the airport on arrival.

At the start of your stay we will plan your viewing itinery, allowing time for you to view properties and also enjoy the surroundings, people, food and culture. Should you decide to buy we'll use our experience to guide you through the whole purchase process, from negotiating the price of your property to the exchange of deeds - ensuring it is as simple and problem free as possible.

The Buying Process
The process we follow is as follows:

  • Copies of the existing deeds are taken to the Land Registry office to ensure that the house you are buying is the property you want and that it has been built legally and with permission.
  • Once we are sure that everything is in order with the property you wish to purchase you can enter into a promissory sales contract, which is signed by both parties and a deposit is paid (usually in the region of 10-15%). You may also at this point want to appoint a Power of Attorney to complete the remainder of the sale on your behalf should you not be able to be present in Turkey to complete it yourself.
  • Details of the land / property will then be sent to the millitary office along with an authorised copy of your passport for official permission to purchase the property. This can take between 3-4 months, but the process is due to speed up.
  • Whilst waiting for approval, checks on the property can be carried out ensuring that there are no outstanding bills or debt against the property.
  • We will inform you when permission from the millitary has come through. We will arrange for you to return to Turkey if a power of attorney has not been appointed to exchange the deeds. It is now that the remaining price of the property and purchase tax is paid (details of costs during purchase is listed below).

Costs

Purchase Costs
Ongoing Costs
Item Cost Item Annual Cost
Buyers Tax 1.5% Annual Property Tax 0.1%
Military Permission Expenses 0.7% Refuse Tax £5 - £25
Compulsory Earthquake Insurance 0.1% Electricity / Water Cheaper than the UK
Agent Commission 3% Complex service charge (if applicable) Typically £100-300
Transfer of Electricity approx £35    
Transfer of Water approx £25    
Legal Costs (dependent of service) £100+    

All percentages are based on purchase price. The declared purchase price may sometimes differ from the actual purchase price, this is common practice.

 

Turkey is the biggest hazelnut producer and exporter in the world. Hazelnuts have been grown along the Black Sea coast in northern Turkey since 300 BC.
Bring a travel adapter with your UK/European appliances or, if staying longer term, simply fit a Turkish plug. Turkey operates on 220V AC, so they'll work.