Procedures and details of buying a property in Turkey
Documents required by foreigners to purchase a property:
1 - Passport
2 - Turkish tax number
3 - Personal ID
4 - Personal Photos (6)
Customers will be accompanied by a member of our company to get documents translated into Turkish and be officially signed by a notary.
At the same time, customers should give official authorization (signed by notary) to our official company AlaProperty to continue with procedures on their behalf during their absence.
If the customer is not able to come to Turkey, then they must take the previously mentioned documents to the Turkish Embassy in their country to be translated and signed by notary and provide official authorization (signed by notary) to our official company AlaProperty to continue with the procedures on their behalf during their absence.
Steps to purchasing
- The customer should open an account in one of the Turkish banks in Turkey.
- If the customer is not able to do this personally, then he should send official authorization to our company, AlaProperty, via one of our members, who will add his name on behalf of the customer along with this Turkish tax number.
- The customer should then transfer an amount equal to the property price to his account in Turkey and if paying by instalments, the first payment along with expenses incurred during the purchase.
- Any amounts for fees or taxes should be included.
- Once the customer arrives in Istanbul, he should transfer the money for the property to his bank account if he is not able to personally visit AlaProperty and our company will inform him how to deliver the money.
- Our representative with then sign a contract with the seller that will show the price of the property.
- The customer will pay a third of the sum of the property price during the registration process of the property; the remainder of the balance will be paid after the real estate department approval of sale.
- An agreement will be made between the seller and customer to form a commitment not to cancel the contract until the end of the procedure.
- AlaProperty representative and the seller will then finalize the procedure.
- The representative will place the third of property price received from the customer with the Presidency of AlaProperty’s lawyer within 20 -40 days.
- When procedures are completed, both the AlaProperty representative and the seller with the authorization document will sign the official papers at the real estate department.
- If the sale agreement was by instalments then the amount of money agreed will be paid as a first payment and both the AlaProperty representative and the seller will sign a contract and receive the document.
- When payments are completed the document from the real estate department will be obtained
Fees and taxes
Property registration fees:
- The customer pays a fee of 2% of the property value and $150 for each property.
- If the property is zero rated (new) the customer will pay extra tax between 1% and 18% according to project.
After obtaining the apartment:
- Annual tax property: this should be paid to Ministry of Finance, between $1 -3 per square meter according to the area.
- Annual Environment tax: should be paid to the municipality of the region for environmental services between $0.5 - 1.5.
- Benefits: between $1 – 5 per square meter of the apartment according to project should be paid by the tenant when they rent the apartment.
- Water, electricity and gas fees of about $500.
- Signing papers officially cost: $700.
- Cost and fees for real estate business: Brokerage: 3% of total price of property. Follow-up Procedures: 1% of total property price.