| Q: |
Is buying
a property in Turkey an investment opportunity? |
| A: |
Potentially, purchasing
a property in Turkey is a fantastic investment
opportunity, because prices are stil relatively
low in most areas. Those who have already
purchased are seeing good returns. Conservative
estimates would be around 10-15% increases
year on year. |
| |
|
| Q: |
Where are people buying in Turkey? |
| A: |
Mainly along coastal areas,
including: Bodrum, Altinkum, Alanya, Belek,
Dalaman and Fethiye. |
| |
|
| Q: |
Why are people buying property in Turkey? |
| A: |
Competitive property prices, beautiful climate,
beaches and friendly locals. Great investment
opportunity. |
| |
|
| Q: |
Are the properties Leasehold or Freehold
in Turkey? |
| A: |
The majority of property in Turkey is on
a freehold basis. |
| |
|
| Q: |
Do I have to pay taxes when purchasing a
property? |
| A: |
Yes, in general this is 1.5% for the buyer
and 1.5% for the seller.
There is also a community tax which is generally
paid twice yearly, this is for services and
maintenance. |
| |
|
| Q: |
Are there other costs associated with purchasing
property? |
| A: |
Yes, these include an agency commission
fee (usually around 3%), utility connection
charges, mapping fees (in some resorts), furnishing
your property. Generally it’s between
7-10% of the total value of the property for
additional costs. |
| |
|
| Q: |
Are Mortgages available in Turkey? |
| A: |
Yes, they are available at some Turkish
banks & UK financial companies. |
| |
|
| Q: |
What does Off-Plan and Re-Sale mean? |
| A: |
Off-Plan is a property which has yet to
be built Re-Sale is a property which has had
a previous owner |
| |
|
| Q: |
Can I have the Title Deed in more than one
name? |
| A: |
Yes |
| |
|
| Q: |
What currencies are accepted in Turkey? |
| A: |
On a day to day basis, Euro, GBP, USDollar
and of course Turkish Lira |
| |
|
| Q: |
What are the medical services like in Turkey? |
| A: |
There are no NHS hospitals in Turkey, only
Government and Private Hospitals. Private
Hospitals are generally 40% cheaper than their
European counterparts. The medical services
are good. Private Health insurance is
available. |
| |
|
| Q: |
Can I import my Belongings/Furniture into
Turkey? |
| A: |
Yes, although it can be expensive for transportation
and Duty. Good quality furniture is
readily available here in Turkey. |
| |
|
| Q: |
How do I import a Vehicle/Car
into Turkey? |
| A: |
If you are visiting Turkey as a tourist
with your vehicle, you should have full documents
and insurance for
your vehicle. Details of your car will
be registered in your passport on arrival
at the order. A maximum of six months
in any 12 month period. |
| |
|
| Q: |
Can i open a Bank Account
if i own a Property? |
| A: |
Yes. Opening a bank account
requires a tax code that can be easily obtained
from the local tax Office |
| |
|
