General Facts of Owning a Property in Turkey
Foreigners may buy property in Turkey since 2004. Every year there are more property sales to foreigners than previous year. There were just 1.500 property buyers in 2004. According Land Registry and Cadastre Directorate statistics, there were 14.000 properties sold to foreigners in 2015. Real estate market expectation of foreing property sales might reach to 20 thousand properties in 2017, 2018 and 2019. Turkish Goverment has changed the rule of buying property in Turkey for foreigners in 2013 that; "Every nationality may buy property". Only restriction for foreigners is; property should not be near military zones.
Whenever you buy a property in Turkey; you own the land share of the property without any time limitation. This property right passes to your childs and grandkin too. Your right on the property is everytime kept.
Turkish Government gave one important right to real estate buyers; "Every house owner (and his family too) obtain yearly renewed Residence Permit right in Turkey".
The Differences of Buying Property between Foreigner Buyers and Turkish Buyers
- Choose an Established Real Estate Agency
As real estate companies have mostly low reputation in Turkey, it is common to hear different stories including fraud, telling lie, additional costs, loosing money, etc. There are thousands of real estate agencies in Turkey offering villas in many different languages. You should consider if they are well prepared for foreign sales and established company. Most of their website is outdated and property listings are not updated and have wrong prices.
- Choose Professionals
Every taxi driver, receptionist, waiter or tourism agency guy is a real estate agent in Turkey. They all have a brother or a friend or an uncle who is building / selling apartments.
- No Problem, No Problem, No Problem!
If someone in Turkey is telling you 3 times, "No Problem", there is a big problem. This means in Turkish; "buy this apartment, it is not my problem anymore".
- Military Approval for Property
If a foreigner wants to receive Title Deed (Tapu in Turkish), every property must be approved by military before title deed delivery. If once military approval is received for any apartment in the same building, you do not need to get one more time. Previously received approval is used for upcoming sales. Military approval is taken about 6 weeks time because of map preparation and posting time between official directorates. If you want to get Tapu faster, be aware that if any foreigner previously has bought from the same building where you are buying your home. If yes, you do not need to wait for 6 weeks time for approval. You may get your tapu in 3 days, too. Military approval is just given to property, it is not related buyers.
- Turkish Buyers buy Faster than a Foreigner
When a Turkish person decide to buy property, payment and tapu delivery is done in 2-3 days time. It does not work with foreigners same. Beacuse foreigners come here with limited money (Mostly you do not bring more than 10.000 Euro cash with you), they can not pay directly if they like a house.
Fastest foreigner may purchase a home in 7 working days if money is ready in their country. Viewing tour and sales contract 2 days, getting tax number and passport translation 1 day, opening bank account and transferring money to Turkey 3 days. You should consider that after signing sales contract, next day you need to apply for Tapu procedure which takes also about 3 days time. So when you wait your money by bank transfer, tapu process would be ready. In order to proceed very fast buying, you need to choose a property from a building where foreign buyers already bought. Otherwise you need to wait for military approval about 6 weeks.
- Commission Rates for Foreign Property Buyers and Turkish Buyers
It is very common in Turkey that house prices include 6% commission if a construction company is selling to foreigners. Manu international real estate agencies does not ask additional 3% commission from foreigners. Real Estate agencies and construction companies publish commission included prices on their websites.
On the other hand traditional Turkish market does not work like this. According to Chamber of Commerces; Real Estate Agencies may demand 3% from the seller and 3% from the buyer. Antalya Property demands the same 3% from all buyers even they are foreigner. Most of our real estate listings are from individual sellers (not from construction companies) and normal Turkish people does not accept high commission rates more than 3%.
- Foreigners needs After Sales Service
It is very easy process to sell a property to a Turkish citizen. Money at one side, tapu is on the other side. Real Estate agencies does not effort anything after tapu delivery for Turkish Citizens. Foreigners needs quality after sales service. Foreigners are abroad, don't know; how it works, where they may find it, price policy, residence permit, abonnements etc
Process of Buying Property in Turkey
If you decide to purchase a home in Turkey, Antalya Property is correct real estate agency for you. Firstly we advise you to contact us before coming to Turkey. We prepare you the best property options (lowest price at best possible quality) according to your expectation for a viewing tour. You only need to bring your passport and 5.000 USD (or Euro) cash downpayment with you. Passport and cash money are the only thing you need for buying a property in Turkey.
When you like to purchase a property on viewing tour, we prepare a sales contract. Sales contract contains all promised conditions of the sales between the seller and buyer like; home details, payment plan, tapu and key delivery conditions, compansations, force majeurs, etc.
Than we let translate your passport at Notary Public. We receive a tax number at the same day. We help you to open a bank account if you need to transfer your money into Turkey. We prepare your documents and sellers documents for Land Registry and Cadastre Directorate. We manage Tapu process with our special staff, just working for this process.
During your money come to Turkey, tapu application is done. If there is military approval is existing previously, we may get your tapu (title deed) in 2-3 working days after application. If there isn't any military approval, be aware that it takes about 6 weeks.
Tapu clerk asks to seller during the final signature at Tapu Office; "Have you received all your money?" Seller must declare officially; "Yes, I have received all my money!". Because it is an official declaration, Sellers asks all their promised money before final signature.
Tapu and key delivery is followed by Antalya Property if all promises are kept from both sides. Antalya Property receives his 3% commission on tapu delivery date from both sides separately.