The purchasing process and regulations for properties in Turkey differ from those in the United Kingdom, and certain safeguards that are typically available in the UK may not be present in Turkey.
It is important to note that foreigners are not permitted to purchase property in military-restricted areas without obtaining military permission, which may cause delays. While the time required to obtain this permission can vary, it is typically advisable to allow for a period of approximately three weeks. In some cases, the cadastral offices in certain towns may already have knowledge of the restricted areas, which can expedite the process. It is crucial to comply with this requirement, as attempts to circumvent the process can result in financial loss and potentially prevent you from acquiring the desired property.
To ensure a successful purchase and avoid any legal issues, it is highly recommended to enlist the services of an independent lawyer before making any commitments, paying deposits, or covering the full cost of a property. By "independent lawyer," we mean a lawyer who has no connection to either the seller or the seller's agent, which may include an estate agent or any other individual acting on the seller's behalf. English-speaking best lawyer and translators in Turkey
Guide to Taxes When Buying or Selling Property in Turkey
When purchasing or selling a property in Turkey, both the buyer and seller are required to pay Turkish Property Transfer taxes, also known as Emlak Alim/Satim Vergisi, which amount to 2% of the property's evaluated value. This means that the total fees payable are 4%, as both parties are responsible for paying this tax.
To determine the property's evaluated value, an evaluation report must be obtained from a local expert or company. Typically, the buyer covers the cost of obtaining the evaluation report. The evaluation report is only valid for three months and must be submitted to the title deed office. The declared value of the property will then be based on the evaluation report. However, it is important to note that the declared value cannot be lower than the "tax value" established by the local municipality, which is also used as the basis for local property taxes.
If the property being sold is a building, it is mandatory to obtain Natural Disaster Assurance (DASK).
Protect your rights throughout the process with our Property Law Attorneys
At Istlondon Legal, our team of skilled Property Law Attorneys is here to support you in both the UK and Turkey, with a dedicated branch in Istanbul. The ideal attorney is the one you believe best suits your needs.
What do our Property Law Attorney Services in Turkey entail?
- Drafting floor-specific construction contracts,
- Property title establishment, annulment, registration cases, and monitoring,
- Mortgage facilitation and mortgage conversion tracking,
- Resolving disputes regarding the right of usufruct, right of way, and privileged personal rights,
- Building cooperative management and operations,
- Licensing and determining zoning status services,
- Contracts for construction, procurement, subcontracting, and related services,
- Setting up condominiums and easements,
- Pre-sale and lease agreements,
- Implementing management plans and annotating title deeds
- Land Registry Attorney
- Property Law Attorney
- Real Estate Sales Promise Agreement
- Land Registry Litigation
- Property Title Cancellation Case
- Property Title Registration and Cancellation Case
- Property Law Attorney Contact
To reach IstLondon Legal, our team of property law attorneys based in London and Istanbul, please visit our Contact page.