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FIVE STAR HOTEL for sale in Center Belek seaside real estate resort. 50 m to the turkish medite ...
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ESSENTIAL INFORMATION

buying property turkey
 
 

Buying A Property in Turkey

  • In general terms, allow about 8% to 10% extra to cover your tax liabilities and miscellaneous costs. This will cover a stamp duty tax of 3% of the property price (a one time small fee) that has to be paid to the land registry office; 2% charge for obtaining copies of the 'Tapu'; for connections to local utilities, and 2% fee for lawyer and legal services.
  • You can also expect to pay your turkish estate agent a commission of 3% of the property price for the finders fee.
  • Translation of legal documents at the Notary Public should be around 200 euro.
  • After you purchase a property, you need to register the new deeds in your name at the municipality, which requires a small fee. For all miscellaneous charges, normally a buyer should pay 50 euro.
  • If you buy property on a community development, there will be an annual maintenance charge to consider, which will contribute towards the upkeep of the resort and the cleaning of the public areas.
  • Remember that if you rent out your property at any time and earn a large income from this, you will be responsible for income tax for gains.
  • Example for 100.000 euro property, expect the whole purchase cost to be around 109.000 euro, where in some cases a 300.000 euro property can be much less as 315.000 euro depending on the "tapu rayic" value set by the municipality.
 
 

Foreign house buyers earn a residence permit to live in Turkey.

In January 2014 the Turkish government extends the residence permit for overseas house buyers with a law change, aimed to eliminate staying obstacles in front of the foreigner buyers.

As long as the ownership "tapu" title stays in your name, a new long term residence permit is renewed each year.

After 5 year continous of obtaining the residency, you are entitled to receive a Turkish ID and lifetime citizenship.

 
 
 
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