The process of the buying of a property in Turkey is more straightforward than other European countries. All kind of property purchasing is done by a FREEHOLD Title Deed and investor will have full ownership on the purchased property to inherit, sell or rent it at any time. Recently, foreign investors are more interested in buying a property in Turkey than the past years since Turkey has been experiencing a renaissance as being of the fastest growing economies over the world.
FEW GREAT REASONS TO CONSIDER COMMITTING TO TURKEY REAL ESTATE
- Citizenship by investment (250.000$) or residency visa at no minimum amount of investment
- Freehold Title Deed
- A great location for global connectivity where Asia and Europe meets
- A booming economy
- Low taxing system and incentives
- Reformist investment environments
- A very high demand for housing due to increasing population
- A very strong capital growth on property investments ( average 15 – 20% )
Purchase process in Turkey for a foreign investor is as straightforward as a Turkish citizen’s purchase. When you make investment decision, we will take care of all the legal procedures to issue your title deed.
Firstly, we will provide you details about our carefully selected investment opportunities in the desired investment location according to your budget through the investment trip. When you make investment decision, you need to pay a reservation fee to reserve your unit. A power of attorney will be published in the public notary to authorize W ESTATES to follow and finalize procedures for reserved unit on behalf of you after you pay the remaining balance on the agreed payment terms. We will take care of all the step to issue and deliver your title deed.
Closing Cost For Purchase in Turkey
There are some taxes and registration charges to be paid to goverment directly when a property purchase is made in Turkey. These charges are mainly as below :
Title Deed Expense : Total Title Deed Expense is 4% of the purchase in Turkey. This expense usually is divided as 2% for the buyer and 2% for the developer.
VAT – 1-18% : 1% VAT is paid for the properties up to 150m2. VAT rate is 18% for the properties over 150m2.
Utility Subscription : Subscription for utilities such as electricity, water, gas will cost you around 1000$.
We will give a free consultancy service to track and trace all the legal procedures for your investment with an official Power of Attorney to be issued in the Public Notary to authorize us to finalize the title deed process on behalf of you.
Closing cost will be around 4% of the purchase with the charges to be paid to the goverment directly when you purchase a property in Turkey.
We are looking forward to welcoming you in Turkey to assist you own your new home.