The process of registration of real estate in ownership usually takes 2-3 months.
To purchase and pay for real estate, you must open an account in a local bank.
Further, the signing of the purchase and sale agreement is carried out.
When signing a contract, the buyer must leave a deposit of approximately 10-25% of the value of the property, and then, within 10-15 days, transfer the remaining amount. Often, when buying at the construction stage, an installment payment plan is provided until its completion.
To issue a certificate of ownership of real estate (Tapu, TAPU), our agency, together with the buyer, receives a tax number in his name. It is also necessary to translate the buyer's passport into Turkish. We recommend that you leave a power of attorney for TAPU registration and for obtaining a residence permit (for 6 months). The power of attorney is certified by a notary.
In Antalya and Belek, a residence permit (residence permit) must be obtained before submitting documents for TAPU. In Alanya, Kemer, Kas, Kalkan and Fethiye, documents can be submitted immediately, and a residence permit can be obtained after the arrival of permits.
The right to the acquired real estate is formalized in the Cadastral Office, which is a government agency that registers all changes related to real estate (whothe owner is, mortgage, litigation, etc.).
The documents for the acquired property are submitted to the Cadastral Department of the area where the object of purchase is located, and then they are sent to the General Staff in Izmir, where they check if the object is under the special control of the Military Department. After verification, the documents are returned to the regional Cadastral Office. Verification takes about 1.5-3 months.
Expenses for purchasing real estate in Turkey
- Purchase tax is 4% of the assessed value of the property. Services of an independent expert are 120 - 200 EUR. The payment is made at a state bank.
- Expenses associated with obtaining a residence permit, various contributions.
- State fee, insurance fees, expenses related to submission of documents to the cadastral office start from 350 EUR.
- Sworn translator services at the cadastral office - 50 EUR.
- If necessary, notary costs for issuing a power of attorney for the execution of documents -minimum 150 EUR.
- When purchasing real estate in a new building, you will need to pay a permit for use (500-1000 euros). It is mandatory to obtain a technical passport for an apartment (Iskan), when an apartment is transferred from the "easement" category to the "condominium" category. When buying a second home, this is not necessary. Company service fee for registration of an iskanis 50 EUR.
* When buying a property in Istanbul, the client is charged a commission of 3%.
Water and electricity connection fees
In case of purchase in a new building, you must pay for the electricity connection, which is 50 Euro for a new meter. If the electricity is already connected, then you need to transfer the personal account to the new payer, which costs 35-45 euros. Also, for a new building, you need to pay for water connection, which is approximately 20-150 euros, re-registration for a new owner 10-20 euros.
Real estate maintenance costs in Turkey
- The annual tax on residential property is 0.1–0.2% per annum of the declared value. For commercial real estate 0.4% of the appraised value indicated in the tapu. Building plots 0.6% of the appraised value indicated in the tapu. Land plots without a building permit (agricultural land) 0.2% of the appraised value specified in the tapu.
- Community payment for garbage collection (depending on the location and type of property being purchased) - from 30 to 100 euros per year.
- Water is paid by the meter - about 0.6 euros per cubic meter of water.
- Electricity is paid by the meter - 0.13 per kW.
- For owners of real estate in complexes with developed infrastructure and houses with heating, there is a payment for utilities, which ranges from 3 to 200 euros.
- Earthquake insurance. Usually done when necessary (in connection with the renewal of documents). The cost is 10-15 euros per year.
- Voluntary real estate insurance - 150-500 euros. Depends on insurance coverage, may include earthquake insurance.