Buying a property in Turkey is relatively simple and the process is faster than that in the UK. Both the British Embassy Turkey (website link) and the Turkish Embassy (website link) in the UK have useful information on the legal process involved and should be read before you start your property search.
UK and all EU citizens can buy property in Turkey, there are very few restrictions on the type and size of property which can be bought.
When a property is purchased, it is registered with the state run land registry, this ensures that the property is properly registered in the purchasers name and that the seller is legally entitled to sell you the property.
Property Registration
A property registration document will not be issued to a new owner until the seller has confirmed that all monies have been paid. Foreigners are represented (for a small fee) by an official translator when dealing with all aspects of property registration. This is to ensure that non-Turkish speakers are fully aware of all aspects of the transaction. The translator not only translates all official documents but also guides you through the registration process. . It is a legal requirement for both sides (the seller and the buyer) to be present when a property is being registered. However, It is possible for either side to give Power of Attorney to a representative should it not be possible to attend in person.. Once a property search has taken place and the legal requirements for registration fulfilled, the new owner is issued with a ‘tapu’, the property deed which gives proof of ownership. In Turkey, virtually all property, including apartments is freehold.
When buying a property under construction, the tapu is only issued once the building is completed and the full amount has been paid.
Negotiating the purchase - how we can help
When you have found your ideal property, we will guide you through every aspect of the legal process to ensure that all goes smoothly. On your behalf, we will appoint a lawyer who will offer impartial expertise to represent your interests. When the deal has been agreed, we draw up a contract between you and the seller, which confirms the selling price, deposit paid, dates of transfer and final payment process.
In addition to the purchase price of your property, legal and government registration fees will be in the region of £1,000 - £1,500. The fees could be considerably less than this, but it is wise to overestimate. Estate agents charge a fixed fee of 3% of the purchase price to both buyer and seller.
● Most property sellers and developers require a deposit of ten to twenty percent of the property price to reserve the property for you.
● After that, payment details are negotiable and will depend on when you want to take possession.
It is not possible for non-residents to obtain finance from Turkish lenders for property purchases.