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What do you need to know about properties in Turkey?
Dynamic market for properties in TurkeyThe property market in the country is quite strong with prices remaining stable as of July 2016. If you are considering purchasing properties in Turkey, you should know that as of the middle of this year in Istanbul, Ankara and Izmir there was a significant surge in house prices compared to 2015. One of the most attractive cities because of its location on two continents – Istanbul, also saw a significant rise in the new-built properties. The overall expectations are for the property market to remain stable.
Is it difficult to purchase properties in Turkey?Turkey applies an interesting principle when it comes to who can buy a property in the country. It uses the reciprocity principle, meaning that it allows the acquirement of property to citizens of those countries that let Turkish individual or legal entities to own property in their country. Thus people coming from most EU countries (with the exception of Belgium, Cyprus, Czech Republic and Slovakia), US, Canada and some in Asia, Latin America and Africa can purchase properties in Turkey. Foreigners face some restrictions, though – they are not allowed to buy in municipal areas with less than 2000 people registered there or near the military zones. As of 2007 non-Turkish citizens cannot buy more than 30 hectares of land.
Special requirements to get a property in TurkeyThere are some specific steps that anyone buying a property in Turkey should follow. Permission for sale should be obtained by the local Army Headquarters for which a translation of the buyer’s passport is needed. Having a solicitor is not a must, however the law requires a government-authorized interpreter to be present before the notary, when the deed is finalized. Both parties – buyer and seller – should be present too.
Getting a property in Turkey is not very expensiveThe overall additional costs to purchase a new house or apartment in Turkey are quite attractive. The buyer pays the registration fee of the newly bought property, which is only 1% and covers the real estate agent’s fee and the mortar dues.
Well, since all additional payments are a percentage of the real estate that you are buying, the more luxurious and expensive the dream home is, the more the additional fees are, so choose wisely on our website https://www.domaza.co.uk/properties_in_turkey/ TOP Properties
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