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Questions & Answers - Turkey
About Turkey
Location:
Turkey is a country located at a point where the three continents of the old world (Asia, Africa, and Europe) are closest to each other and where Asia and Europe meet. Because of its geographical location, Turkey has always been important throughout history and is the birth place of many great civilizations.
Area:
780,000 square kilometres
Capital:
Ankara (4 mil), Major cities: Istanbul (10 mil), Anatalya (1.7 mil), Izmir, Alanya
Geography:
A spectacular country surrounded by sea on three sides, with more than 300 natural and 130 artificial lakes, and almost %35 of its lands covered by forests and mountains, several rivers cutting the beaches to reach the seas make the country even more attractive. Turkey's land mass is 814,578 sq km. The European and Asian sides are divided by the Bosphorus (Istanbul Bogazi), the Propontis (Sea of Marmara), and the Dardanelles (Canakkale Bogazi). Anatolia ( Asia Minor as the Roman's called) is a high plateau region rising progressively towards the east, broken up by the valleys of about 15 rivers, including the Dicle (Tigris) and the Firat (Euphrates). There are numerous lakes and some, such as Lake Van, are as large as inland seas. In the north, the eastern Black Sea Mountain chain runs parallel to the Black Sea; in the south, the Taurus Mountains sweep clown almost to the narrow, fertile coastal plain along the coast. Turkey enjoys a variety of climates, ranging from the temperate climate of the Black Sea region, to the continental climate of the interior, then, to the Mediterranean climate of the Aegean and Mediterranean coastal regions. The coastline of Turkey's four seas is more than 8,333 km long.
What is the property purchasing process?
After the decision is taken, a lawyer contract will be signed. The customer gives Power of Attorney to the lawyer that he can take care of all the legal procedures.
Lawyer applies for the title deed on buyer's behalf, and secures the property until the title deed is received. It takes between 6 to 8 weeks.
After the property is registered on the buyer's name then we will assist for the utility registrations, water, phone line etc.
What are the property prices?
Prices are really dependant on the particular type of property and location you are looking for. As a guide though, new build properties in some of the coastal areas can start from as little as £20,000.
What is the law on foreigners owning a property?
Buying property in Turkey is a lot simpler now. The procedure is often far simpler than in most other European countries. Foreigners may purchase land and property in Turkey under their own names and when the time comes to sell, the proceeds of the sale may be transferred out of Turkey. A lawyer/solicitor is not needed in Turkey although it makes sense to consult one for your own peace of mind which costs 1% of the property value.
What is the Turkish legal system like?
The legal system in Turkey is very good and generally their professional fees are substantially less than in other parts of Europe.
What are the costs involved in buying a property?
- 1% property purchase tax (only once)
- 1% lawyer fee (only once)
- 3% agent fee (only once)
- € 60 - ₤ 40 registration of title deed on your name (only once)
- € 100 - ₤ 60 for Power of Attorney and contract translation (only once)
Can we open up an overseas bank account?
The opening of a bank account in Turkey is a simple process. In normal circumstances your passport will act as proof of identity and is all that is required to open an account. You are often offered the option of opening your account in a choice of currency denominations i.e., Euro, Dollar or Sterling. Although it is necessary to have a Turkish Lira account to facilitate the payment of bills etc it is often useful to combine this with a foreign currency account and/or credit card facility.
What are the management costs of my property?
For apartments within managed developments, charges will vary according to the level of services and facilities provided. As a guideline however, for a two bed apartment in one of the coastal resorts an annual charge of around £350 per annum can be expected.
Costs of electricity, water and telephone
Registration of a new connection (once only) 100 €
Transfer of an existing connection (once only) 30 €
Costs per kWh up to 150kWh / starting from 150 kWh 0,11 € / 0,17 €
Monthly contribution 0,00 €
Water
Registration of a new connection (only once)
62 €
Transfer of an existing connection (once only)
93 €
Costs per m³ up to 20/ starting from 21 up to 40m³ / starting from 41m³ 0,31/0,47/0,87 €
Monthly contribution 0,87 €
Telephone
Registration of a telephone connection 7,75 €
Costs per telephone unit 0,04 €
Monthly contribution 8,88 €
Other
- Complete kitchen with electronic devices, from 1900 €
- Solar starting at 400 €
- AC 12 000 BTU 260 €
- AC 16 000 BTU 350 €
- m² marble from 13 €
- Television from 360 €
- Washingmachine 380 €
- Pool Maintenance approx. 90 € yearly. Gas, electricity, water, etc. depending on the amount of use
- 2 year old Car (Fiat) 6000 €, yearly tax for 1600 ccm car 600 €
- private health insurance from 79 €
- Home insurance from 150 € / year
- Yearly tax average at approx. 30 €
All these quotas are just general average values.
What is the currency?
The national currency of Turkey is the New Turkish Lira. However most transactions nowadays can be done in either Lira or Euros.
What is the weather like?
Marmara, Aegean, and Mediterranean coasts: These coasts have a typical Mediterranean climate with hot summers and mild winters. The swimming season becomes shorter the further north one goes: Marmara and North Aegean - June to September; South Aegean and Mediterranean - April to October.
Black Sea Coast: Warm summers, mild winters, and relatively high rainfall.
Central Anatolia: Steppe climate with hot, dry summers; cold winters.
Eastern Anatolia: Long snowy cold winters with mild summers.
Southeast Anatolia: Hot summer with mild, rainy winters.
What is the language/Do they speak English?
The first language is Turkish however the majority of Turks speak English as their second language and they welcome the British tourists with open arms.
Do they have a health service?
Turkish hospitals are very basic compared to those in the UK; however in most of the tourist resorts you will find a polyclinic where tourists can receive medical attention. There is a charge for these services which varies from resort to resort, but costs are generally low. Please, keep all receipts for insurance claims, but be aware that most policies have an excess. You must always contact your Insurance Company immediately to inform them of any accidents or claims.
