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Property Abroad - Turkey

Buying a property in Turkey is not as complicated as buying a property in many other European countries.

It is possible for foreigners to purchase land and property in Turkey under their own name, provided the property is not in a restricted military zone.

The majority of rental properties in Turkey are let unfurnished, particularly those let for more than a year. In Turkey `unfurnished' often means no kitchen appliances, units, light fittings or flooring. If a property has these items fitted, you may be asked to reimburse the seller for the cost of them.

Once you have found a property, to enable you to acquire its title you will need to make an application to the local Land Registry Office. Once a check has been made to ensure that the property meets all necessary requirements, the title will be transferred. Both seller and purchaser have to pay 1.5% duty. In addition, the Local Government collects an annual property tax of 0.1% (for houses), and all properties are re-valued for tax purposes every five years.

 

If you plan to move to Turkey for more than six months, it is advisable to apply to the Turkish Embassy or Consulate in the UK for a resident visa before you leave.

With Turkey being such a popular holiday destination, purchasing a property here could prove to be a sound investment. If you intend to rent out the property, the income generated will be liable for tax assessment in either the UK or Turkey.

Below are links relating to holidays in Turkey:

To find out more, complete a Quick Enquiry Form and one of our advisers will contact you.

For advice about how to arrange your mortgage for your dream home abroad visit us at www.mortgages.co.uk

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