Property in Turkey: The Laws That Can Make It Happen For You

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by: Steven Clarke
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Until recently, foreigners were not allowed to purchase property in Turkey. It wasn’t until the year 2003 that the idea of owning property in Turkey could even be seriously considered for many. Even then, many people steered clear of the idea. Property purchases made by expatriates at this time could be likened to a trickle. Today, however, more and more people are entertaining the idea of owning property in Turkey.

Since Turkey was accepted into the EU, more people from the UK are working and taking holidays in Turkey. The Turkish government is all for the change and has even taken steps to promote Turkey as a great place to travel. And people are starting to get the message.

If you’re one of the many who are considering purchasing property in Turkey, there are some things about property laws in Turkey that you should know about.

• Foreigners are now allowed to purchase property in Turkey because of a reciprocity law. This means that any citizen of a country that allows Turkish citizens to buy property in their nation is allowed to buy property in Turkey. There are still some countries that are blocked by this law, meaning that if you are a citizen of a country that does not allow Turkish nationals to purchase property, you will not be able to purchase property in Turkey.
• There are some areas of Turkey where foreigners are not allowed to purchase property. Property around military bases and sensitive locations in Turkey is not allowed to be sold to non-citizens.
• Beware of encumbered property. It is not uncommon for property sold in Turkey to be encumbered by liens, back taxes and other title issues. Be sure to hire a lawyer so that you will know for sure about the property’s status before any money exchanges hands.
• When you make an offer on a property in Turkey, you will be required to place a 4 to 10% deposit if your offer is accepted. If you back out without good cause, you will not be refunded this deposit.
• When you purchase property in Turkey, you will be required to purchase earthquake insurance as well. This is usually not expensive, but it should be factored into your budget.
• When you close the transaction, you will apply for a new deed at the Land Registry Office. It normally takes about three months to receive the deed to your new property.

It is extremely important to hire a lawyer whenever you buy property in a country that is not your own. Property laws vary widely from country to country, and you cannot be expected to know everything that is involved with purchasing a property abroad. Having a lawyer on your side can help you steer clear of any entanglements, hassles and unexpected costs associated with buying property in Turkey or any other country for that matter.

About the Author

Steven Clarke - Marketing Manager for www.turkeypropertyclub.com. Turkish Property Club brings buyers and sellers of properties in Turkey together and contains 1000's of Turkish properties for sale across all the top locations including Mugla, Altinkum, and Alanya

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