Inspection trip

Memory Real Estate & Construction is offering special inspection trips for as low as £199.00 per person. Inspection tours are a great opportunity to see and compare several properties in one visit, get an idea of local amenities and facilities, put your questions to the experts, secure your dream property by putting down a deposit, explore the surrounding areas, maybe squeeze in some time on the beach or at the golf course, and of course learn our company.

We will arrange flight to Antalya and accommodation, collect you from the airport, help organise an itinerary for your stay, arrange viewings for the properties you are interested in and answer any questions you may have. For the duration of your visit our team will be on hand to help make your stay as enjoyable and informative as possible.

To order inspection trip please feel in our inspection trip reservation form and send it to us.

Reservation deposit

Once you have decided which property to buy you need to pay a deposit to reserve it and stop it being sold by the property owner to somebody else until the procedures are all done. Reservation fee will be £1000,00. Once reservation fee has been paid your property will be taken off the market for a period of 14 days in which time Property Purchase Agreement will be signed and first payment will be organized.

Property Purchase Agreement

Purchase agreement is written in English and Turkish. This contract includes information about the real estate, the buyer and the seller, necessary details about the payment, the time of the conveyance, property completion date etc.

Generally in Turkey the buyer and the property owner sign a promise to sell and buy contract. This contract includes information about the real estate, the buyer and the seller, necessary details about the payment, the time of the conveyance and etc. If you appointed a Solicitor he will check for you following issues:

● Does the property have good title
● Does the owner actually own it
● Is the land/property clear of outstanding debts
● Has the builder legal construction permit

Payment terms

The payment structure depends on building stage of construction. There is an independent governmental Building Control Officer who inspects our developments during every stage of construction and control if it meets with local authority and national building standards. You will receive regularly photos confirming each stage of construction achieved.

Land Registry Office and TAPU

In most European countries the buyer and seller go to a public notary to have the property put in the name of the new owner. The public notary is responsible for the correct settlement of this procedure. The public notary is also responsible for the delivery, which often takes place in the form of a 'deed of transfer' and the entry in the property register.

In contrast to this, the entry in the property register in Turkey is not performed by a public notary, but by an official of the Property Registry Department (Land Regisrty Office). It is legally compulsory for both sides (the seller and the buyer) to be present at the entry. It is possible to authorize another person to do so (i.e. give someone power of attorney) but the authorization requires a notary deed.

The delivery of the deed of transfer does not require the intervention of a public notary in Turkey. The only applicable stipulation concerning the delivery is that it takes place in writing. After the entry and delivery the property register issues you will get a proof of ownership, which is called 'TAPU'.

A photocopy of your passport, details of your mother's & father's names and 4 passport size photos are needed at this point.

It is requires to pay the purchase tax and earthquake insurance, after this the Land Registry Office transfers the property to you as the new owner of the property on the land register, and they give immediately the TAPU in the land register which is signed on your name(s). This page in the land register proves you as an owner of the property.

Taxes and Fees

Lawyer’s fee: In Turkey it is not compulsory to engage a solicitor in property purchase. However it is highly recommend using a Solicitor to give you a peace of mind. Typical costs are around £750.00 - £1,000.00

Notary fee: If you would like to appoint another person to accomplish title deed transfer instead of you, you will need to make Power of Attorney by public Notary. An official translator must be present by this procedure. Fee for stamp duty and translator by notary is around £150.00.

Land Registry Fee: This fee is taken by Land Registry Office for accomplishing title deed transfer procedure. This fee is around £100.00

Property Transfer Tax: 1.5%

Earthquake insurance: It is compulsory in Turkey to ensure property against earthquake. The value of insurance depends on size, price, location, construction material of the property. Typical costs are around £25.00 - £50.00

Estate Agent Fees: In Turkey both Seller and Buyer are paying 3% estate agent fee, this is standard term offered by all Turkish Estate Agents. If you buy a property in one of our own developments directly from Memory Real Estate & Construction this fee is not applicable.

Never sign a contract that you do not understand (for example - if it is in a foreign language).

◊ Always ensure that you seek specialist advice from independent Solicitors, Architects and Surveyors before considering a purchase overseas. They should be proficient in your chosen country's laws and processes and also know the specifics involved in buying a property there.

◊ Ensure you do not inherit a debt on the property before you purchase, which a solicitor should be able to check - i.e.: If the developer has borrowed money to build the development and this amount has been allocated against each plot as additional security to the developer's bank.

◊ Check with the Estate Agent or vendor that you are aware of the costs charged by the legal and government authorities for purchasing a property in your chosen country.

◊ Open a bank account in your chosen country and ensure you get a Certificate of Importation for the money you bring in from your home country.

◊ Set up standing orders in a local bank account to meet bills and taxes. Failure to pay your taxes in some countries could lead to court action and possible seizure of your property.

◊ Remember that bills do not end at the asking price. Lawyer's fees, Taxes, Insurance etc must all be met in your host country and can often be more expensive.

◊ In Turkey there isn't a developed mortgage system serving foreign clients. If you come to the country planning to buy you have to look for financial sources from your own country. The same goes when you as foreigner already have one property in Turkey and want to buy some more. You'll hardly find any financial institution ready to accept your property in Turkey as collateral.

◊ Make sure that the property is located in area when foreigners can buy, otherwise the deal will be declared null and void. Usually local real estate agents will commit to verify this side of the deal.

◊ In almost any country it may happen that the property to buy was already sold to different buyer, or had some outstanding debt attached to it, or that the seller wasn't the person who claimed to be the right owner. Turkey isn't exception in this respect. Usually most foreign buyers in Turkey aren't fluent in Turkish, which also may complicate the deal. The golden rule in all these matters is to find trustful local agent to check all legal aspects of the deal.

1. Can the foreigners purchase property in Turkey?

First the ‘reciprocity principle’ must apply between the country of the person wishing to obtain acquisition of ownership. In other words, if a Turkish citizen can become the owner of real estate in the UK, then the same right applies to a UK citizen in Turkey.
2. Where the foreigners cannot buy a property?

Mainly there are no legal restrictions against foreigner nationals regarding the acquisition of property ownership. However, the Village Act and the Military Prohibited and Security Areas play an important role; Article 87 of the Village Act denies the right to foreigners to ownership of property that is outside the centre of a village in case the cadastral division of this area had not been arranged yet or it may belong to the Ministry of Forest. Also, the act regarding Military Prohibited and Security Areas can be an impediment and therefore restrict the acquisition of property by foreigner nationals if the property is located within a particular distance of military sites or strategically important areas.
3. Where the foreigners can buy property?

a. Freehold property of land may be purchased by most foreign nationals, from a Turkish national or another foreigner, provided the property is in the local district "Belediye".

b. If property or land is outside the Belediye long leases can be arranged. The lease can subsequently be transferred to a third party if he/she wishes without restriction.
4. Are there extra costs?

Yes, with some purchases from developers all costs (excluding lawyer’s fees) are included, but with individual properties and some small developers only the purchase price is shown. This is always made clear on promotion material. The extra charges involved for a freehold or leasehold purchase payable by the purchaser amount to approximately 8% of the purchase price paid. These are broken down as follows:
◊ 3% purchase tax (stamp duty) on registration of freehold, (new properties can be exempt from purchase tax).
◊ £200 legal fees variable dependant on the amount of work, i.e. full investigations, proxy, translations, etc.
◊ agency commission is 3%
5. About ongoing costs?

Property tax, paid annually at a fixed percent of the declared value, (on a new home a 25% reduction is given until the revaluation conducted after the first five years).

Building insurance is compulsory for leases arranged through Yapi Kredi, the premium is approximately 2 per mil. It is also mandatory to purchase State earthquake insurance.

Gas is normally used for cooking and can also be used for water heating. Cylinder refills cost approximately £10.00 and lasts approximately a month for water heating and two months for cooking (a deposit is taken for each gas cylinder).

Electricity is cheap approximately £0.05p a kilowatt. Bills are payable monthly at a local bank or directly at the Turkish Electricity Board.

Water costs approximately £0.40p per ton (1,000 litres on mains supply) or £3.00 per ton when bought from a bulk tanker.

Site maintenance, groups of houses, particularly developments will form a management service, committee or company, to maintain common facilities, common gardens, repainting, etc. The cost of this will vary from development to development, but generally starts at around £150.00 per annum. Their conduct is governed by Turkish law.
6. About my Tax situation?

Capital gains made from the sale of a property will be taxable in Turkey if the owner is a Company. Individuals do not have to pay capital gains, provided they have owned the property for one year. In the UK capital gains may be taxable depending on the individuals situation.

Current tax conditions were originally agreed in a double taxation treaty signed in 1986. These were amended in October 1988 and cover the reciprocal agreement relation to income tax and corporation tax in Turkey and income, corporation and capital gains taxes in the UK.

This also includes a non discrimination clause "Nationals of a contracting state shall not be subjected in the other contracting state to any taxation or requirement connected therewith which is other or more burdensome than the taxation and connected requirements to which nationals of that other state in the same circumstances are or maybe subjected". (Article 24).

However, it is recommended that you consult an accountant because each individual's circumstances are different.
7. Can I rent my property?

Rental income is liable for tax assessment in either the UK or Turkey and will be payable depending on the personal situation.
8. The selling costs?

Freehold resale costs are between 5% (comprising sales tax, local documentation and legal fees).

Property may be sold to Turkish, or foreign nationals without restriction. Because of the change in law (Decree 32 August 1989) the lira is now convertible so proceeds of the sale of a property can be converted to whatever currency and subsequently transferred to any country you choose.

If the property is subject to a Yapi Kredi lease then the transfer costs are just over 1%.
9. Should I furnish my property in Turkey?

Furniture is generally cheap, and can be custom made by local craftsmen if required. It is possible to buy in most towns at very competitive rates, with a wide range of goods. Electrical items are less expensive than in England.

Towels and linen are cheaper than Europe; however, household goods are extremely cheap and can be purchased at the local markets. Non-national residents can import household goods providing they hold a suitable residency permit.
10. What about communications?

Telephones are either bought on the black market at up to £400 or your name is put on a waiting list where you can wait for anything from a week to three years, depending on availability in your area.

There is a small standing charge payable annually approximately £12.00. Lines are generally good and Internet access easy and well serviced. There is a national daily newspaper printed in English, the Turkish Daily News.

A short-wave radio is useful to pick up the BBC World service. Television reception is good and if you buy Digiturk Satellite system you receive 52 channels including MGM, Movie Max 1&2, BBC Prime, Discovery Channel, Euro sport, CNN world news, etc.

There are large European communities living in Turkey full time, plus many transitory people living on boats in the harbours for months at a time.

During the winter months there are many social occasions arranged such as book swaps, walks, BBQ's, card evenings and inland trips.
11. Residents Visas

If you wish to apply for a resident permit in Turkey, you should apply to The Police Headquarters, Aliens Department in the province where you reside. First time applicants may be granted up to two years resident permit. Thereafter, it may be renewed for five years. Resident permit applications will be processed and issued in one day.

A man or a woman married to a Turkish citizen will be issued with a resident permit valid for three years on first application. Thereafter it may be renewed for up to five years.

If a working visa has been obtained from the Turkish Embassy abroad, on first application in Turkey a two-year resident permit will be issued. Thereafter three and five year resident permits may be issued.
Pending Applications: If you wish to leave the country and your application has not been resolved the Aliens Department will endorse your resident permit on one occasion only, giving right of residency for 15 days. Production of this endorsement upon departure from Turkey to immigration police should avoid a fine being levied.
12. Do I need insurance?

There are numerous insurance companies offering comprehensive annual cover.  We advise clients to insure their properties and can recommend good companies for buildings, contents and medical insurance.  Earthquake insurance is mandatory in Turkey.
13. Can I arrange finance in Turkey?

Mortgage companies do not generally exist in Turkey as most property purchases are cash transactions. You should therefore arrange your finance in your home country.
14. How do I import a vehicle/car into Turkey?

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 your arrival at the border. A foreign plated vehicle is permitted to remain in Turkey for a of maximum six months in any 12 month period.