Purchasing property in Turkey is a lot easier now. The procedure is far simpler than in most other European Countries. Foreigners are able to purchase property in Turkey under their own names and if you should wish to sell, the proceeds of the sale can be transferred out of Turkey. In order to acquire the title of a property an application has to be submitted to the local land registry office. After carrying out the necessary checks and searches the transfer of the title deed (Tapu) is done at the Land Registry Office. The Tapu is the official document proving ownership of the property.

Step by Step to Formalities:

1. After the decision to purchase is taken, the property owner and buyer sign a promise to sell and buy contract.

2. At this point you will be required to pay a 10% deposit on the purchase price to secure your chosen property.

3. We recommend you give Power of Attorney to either Happy Homes or a Lawyer authorizing them to carry out all
the formalities in your absence.

4. We suggest you open a bank account before you leave the country to enable you to transfer the remaining value
of the property and for future ease of utility bills and so forth.

5. Your application will be send to the Land Registry Office to start procedures for Military permission (this process
takes between 8 to 12 weeks).

6. Upon receipt of permission from the Military the required parties will go to the Land Registry Office and complete
the necessary paperwork. A Certified Sworn Translator is required when one of the parties is a Foreign National.
Financial affairs are completed, signatures exchanged and the Title Deed of your property is registered under
your name.

We will happily answer any questions you may have and talk you through each step in further detail.

Expenses:

• Transfer tax: 3% of the property value stated in the Tapu office. This is paid at one of the State Banks at the time
of conveyance. (Please note the amount stated in the Tapu Office is lower than the real property value and approximately between 200-500 Euro, 150-350 GBP).

• Fee for Certified Sworn Translator at the Tapu Office: 50 Euro, 35 GBP *

• Registration Fee at the Tapu Office: 25 Euro, 18 GBP *

• Giving Power of Attorney: 120 Euro, 85 GBP *

• Signing Promise to buy and sell contract at the Notary Public Office: Starting from 350 Euro (245 GBP), approx 1.2% of the value of the property. *

• Obtaining Completion Report (on newly built properties only): Starting from 350 Euro (245 GBP) depending on the size and location of the property. *

• Lawyer fee: 1 % of the property value

• Estate Agents fee: 3% this is a standard fee charged by all Turkish Estate Agents.

• Annually Property Tax: 0.1% of the property value declared by the local government.

• There may also be administration costs depending on the individual paperwork required.

As a property owner you must take in to account the following expenses:

• New connection of Electricity meter: 100 Euro, 70 GBP *

• Name transfer of an existing electricity connection: 30 Euro, 20 GBP *

• Energy cost per Kwh: 0.10 Euro *

• New connection of Water meter: 60 Euro, 40 GBP *

• Name transfer of an existing water connection: 30 Euro, 20 GBP *

• Water cost per m3: 0.75 Euro *

• Phone line connection: 4 Euro, 3 GBP *

• Cost per unit 0.036 Euro *

• Monthly rental: 3.56 Euro *
*Please note that these are approximate and may be subject to small change due to currency fluctuations.