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Frequently Asked Questions

Do I need to use a lawyer when buying in Turkey?

Legally it is not necessary to use a lawyer when purchasing property in Turkey. However many UK citizens find this a strange concept and do not feel safe without one. To ensure your peace of mind, we suggest that you get a lawyer for the basic background checks, i.e. does the property belong to the seller, is the tapu (title deed) clean (no debts), has the property been built according to the building regulations.

Can I get a mortgage for a villa in Turkey?

In autumn 2006 a couple of mortgage companies have started to offer mortgage packages for properties in Turkey. This had been preceded by many years of waiting and speculating on its arrival. So far mortgages are limited to completed properties. People who are interested in purchasing off plan will have to raise money as before, e.g. re-mortgage their UK property and use the excess money to buy or use ready funds. The effect of this new purchasing option will have to be watched carefully but since the demand will undoubtedly rise, so will the prices.

How long does it take to have a villa built?

The actual build time usually takes about 6-9 months. Some more established tourist resorts do not permit building from May to September to prevent noise and other inconvenience for tourists.

Can the proceeds of a sale be taken out of the country?

Yes, the proceeds of a sale in Turkey can be taken out of the country. Regarding any tax liabilities make sure you get all the relevant information from a lawyer/accountant.

What additional cost is involved in buying property in Turkey?

1. Solicitors/legal fees between £600 and £1200 depending on the requested service
2. Certified translator at the deed office up to £80.00
3. Power of attorney approximately £150.00 to sign the title deed on your behalf
4. The Turkish Notary, who must wittness the signing of the power of attorney, must be paid £60.00

How high is purchase tax?

A 3% purchase tax is collected during the transaction. The buyer and seller pay 1.5 %. It has however become common practice for the purchaser to pay the full 3%.

Is there an annual tax to be paid for the property?

An annual property tax (council tax) is collected by the municipalities (i.e. local governments) at the rate of 0.3% for land and 0.1% for a house in the Fethiye area, which includes Dalyan, Dalaman, Sarigerme and Gocek. The rates might be higher in metropolitan areas so you need to check. Also see Turkish property taxes.

How is capital gains tax handled in Turkey?

Capital Gains Tax is only levied on the sale of property owned for less than 4 years. Capital gains tax is calculated using rates published by the Ministry of Finance. The net capital gain is calculated using a revaluation method which theoretically takes into account any increase in the value of your property and is inflation-adjusted. As an individual, after you have owned a property in Turkey for four years, you will be exempt from any capital gains tax. Please also note the information on the site of the Turkish Embassy in London regarding underdeclaring your property!