Facts and Questions
Q1: What is the difference between new and a resale property?
A1: A new property is either newly built, in the process of being built or is about to be built while resale property is usually older. Generally, new properties offer better financial advantages than resale ones. The main advantage is flexible payment terms (instalments). There is often a possibility of getting a discount. A new property will have more modern design and interior fittings; it will be built in accordance with strict building regulations and will have minimum 5 years construction warranty. Also all new properties have to be earthquake-proof by law.
A resale property is already built so you do not need to wait and as there was a previous owner it may have more character and gardens will be more mature.
Q2: How can I rent my property out?
A2: You can use letting agents who will rent the property out for you. There are also a number of more hands on techniques you may consider such as newspaper advertising, friends and family, notes in shop windows and advertising in big organisations such as hospitals and factories. As an increasing number of people make their holiday arrangements relying solely on the Internet you can advertise your property on many of the letting websites or you can set up your own website.
Q3: Do I need to worry about a title deed?
A3: Although there are properties in Turkey which do not have clear title deeds, buying a property like that can be easily avoided by making the necessary checks before going ahead with the purchase. This can be done by your lawyer.
Q4: What documents do I need to supply?
A4: Photocopy of the buyer’s valid passport and two passport-sized photographs.
Q5: Can I rent my property?
A5: Yes. Solmet can assist clients to rent their property out. The busiest renting period is from April to October. During that time you can expect a return of around 15 percent.
Q6: Will the property be freehold
A6: Yes. All properties in Turkey are freehold.
Q7: What taxes do I need to pay?
A7: The purchase tax which is 3% of the declared purchase price, however, this tax is shared between the seller and purchaser. There are: property tax (calculated on the basis of the notional value of the property), local tax (between £50 and £200) and environmental tax (imposed by each municipality for collecting your rubbish).
Q8: How much will be incurred for legal and administrative services?
A8: In all cases a legal translator, government notary, official land survey and the government Deeds Office would all be involved to complete the correct procedure: these ‘official’ costs should total between £100 and £200.
Q9: Do I need to open a bank account in Turkey?
A9: You can open a bank account in a number of Turkish banks. Documents required are your passport and a tax number which you can obtain from a local tax office. It is particularly useful for setting up direct debit to pay utility bills.
Q10: What are the ongoing costs?
A10: There is a property, water and rubbish collection tax according to the size of the property of approximately £35 to £70 per year. Other than repairs and redecoration, the main personal costs are garden and pool maintenance.
Q11: Can I have satellite TV installed?
A11: Yes. You can buy Digiturk Satellite system which comes with 52 channels such as: BBC Prime, CNN world service, Discovery Channel, Eurosport, etc.
Q12: Can I have a telephone installed?
A12: Yes, providing you have a resident visa. Otherwise you are advised to buy a SIM card for your mobile.
Q13: Can I work in Turkey?
A13: Yes. You need to obtain a work permit.
Q14: Is there a limit to the number of times I can come over to Turkey in a year and do I have to pay £10 every time I enter the country?
A14: You need to obtain a visa which will entitle you to enter the country as many times as you want within the period of 3 months. You will need to pay £10 every time you enter the country. Alternatively, you can get a multiple entry visa for a one off payment of £10.
Q15: What would happen to my property if I died?
A15: ln the event of death, the property is inherited by the lawful heirs unless otherwise stipulated. Your British will would be adhered to.
Q16: Can I bring a pet with me?
A16: Yes. You will need a ‘pet passport’. Also on returning to the UK you would be subject to quarantine laws.
Q17: What about insurance?
A17: It is advisable to insure your property. Earthquake insurance is a necessity especially if your property is in an earthquake prone zone.
Q18: What are the standards in hospitals and what if I need medical help?
A18: There are many private hospitals which provide professional and high standard help. Although foreigners have to pay for medical treatment costs are much lower than in other European countries.
Q19: Do I need to learn Turkish?
A19: It is not necessary as many Turks speak English, particularly in tourist resorts. However, some Turkish would make your life easier especially if you are planning to live in Turkey.
Q20: What is the cost of living in Turkey?
A20: The cost of living in Turkey is significantly cheaper than in other countries in Mediterranean region. Gas costs around £10 per month (depending upon usage), Electricity is about £0.05p per kilowatt, and water varies from £0.40p to £3.00 per ton depending on if you use the mains supply or no.
