Frequently Asked Questions

If you are considering buying a property in Kaş as an investment, now is the time to make your move. At a time when Antalya International Airport has hosted an amazing 12 million tourists in 2013, a prediction for sharp increase in traffic to all the Turkish holiday resorts over 2014 and the next few years is inevitable. Many people believe that the current rate of development will not be able to keep pace with the increased demand for private and holiday accommodation.

Completed Turkish Real Estate sales to foreigners went up by an amazing 59% in 2013, reaching to a total $2.9 billion (more than Spain and Portugal together), which clearly shows that even without EU membership, purchasing a property is safe. Everyone in Türkiye remains optimistic about Türkiye's eventual EU membership, but even before membership Türkiye has already become an international property hotspot because of the ease in purchasing property, constant price rises and low taxes.

A total of 88% foreign owned Property in Türkiye is located in 10 cities, the top 5 being Antalya with 61.838 properties; Istanbul with a surprisingly low 15.812; Mugla (the location of Bodrum) with 30.769; Aydin (Didim, Akbuk and Altinkum) with 14.116, and Izmir with 5.533 foreign-owned properties.

Facts and figures for Turkish Property Investors

House prices are set to rise in 2013 still further so it’s a great time to invest. It’s impossible to predict exactly what return you’ll get from your investment but recent reports from various sources agree that it will be high. For example:

• DHA Press has recently reported that property prices along Türkiye's Mediterranean and Aegean coasts rose by more than 25% in the last year alone
• Research by Türkiye's National Statistics Institute predicts that Türkiye’s immigrant and population will rise to as much as 5.5 million by 2014, representing in the region of 13% of its population, compared to just 5% in 2013. The rising demand for property will continue to fuel the growth of the property market
• Türkiye's Ministry of Development has gone on record as saying that the average increase in Turkish Real Estate prices was 21.5 percent in the first quarter of 2014 compared to the same period in 2013
• The 'top region' for population increase in Türkiye last year was Antalya, where every year 50,000-55.000 people move to. At a 16.7% high rate, it even leaves Istanbul behind

What investment to make in Türkiye

Before you decide on what you want to buy, take the time to do some research. Clearly, if you’re planning on earning an immediate income from your Investment in Türkiye you should look for an existing property (commonly referred to as a resale property) in an area frequented by holiday makers. Take a look at the rental market, get a feel for how much you can rent your villa or apartment for. Don’t forget to factor in other costs such as maintenance and property management charges (someone will have to look after the property in your absence) and remember that property with pools that are close to the beach will yield higher rental incomes.

Buying a rundown place for renovation has the advantage that you can improve the property in ways that will specifically attract holiday makers. It’s a good way of adding value to your property while converting your economical investment into a higher yield, and getting building work done in Türkiye is a choice for all. As for most of the part, the high quality Turkish craftsmanship will impress you.

Off-Plan Investments and Buy-to-Sell Properties

Another popular option is to buy off-plan. This is where a developer decides to build a number of properties on a large plot and needs to sell them before they have been built to fund the development. The advantage here is that you can secure the Turkish property by paying a deposit and then a percentage (usually around 5%) of the purchase price.

• As the development progresses and the properties get nearer completion, their values rise because there is less urgency to sell them and prospective buyers can get a clearer idea of what the final product looks like
• If you sell your property before completion or sell brand new property within 5 years, as a foreigner you won’t have to pay any capital gains tax
• Properties that are sold off-plan are usually very competitively priced because the developer will want to maximize the amount of cash he has to fund the development. In other words, the more cash the developer has, the less he has to borrow and if he borrows less then he pays less interest to his bank
• You can choose a prime location within the development and you can often specify the furnishings and decor of the property, all of which helps you to get a better return on your investment

Investing in Antalya

Antalya is the coastal region where people buy holiday homes to rent out to tourists for additional income. But this is not the whole story of Antalya. Antalya is also one of the top tourist destinations in Türkiye; it offers almost everything that any holiday home buyer or holiday home investor is looking for in a destination.

• Antalya international airport is one of the best served airports in Türkiye, offering easy, cheap and regular access from most countries in Europe, including the UK and many more destinations around the world
• Antalya region benefits from 300 days of sunshine per year, and while it is almost always warm, it is very rarely searingly hot as tourists have complained of in Spain’s touristic hotspots
• We have all heard how Antalya property makes a great holiday home investment (fly to let), but with the population growing rapidly in affluence and numbers, it also has a strong residential market, which gives it great potential as a buy to let property investment destination as well
• As the population grows richer, and access to mortgages in Türkiye continues to improve, more and more Turks will be looking at buying their own homes, and then second homes on the Antalya coast

In previous years before 2012, Türkiye had a strict reciprocity law in place which restricted many nationals from buying property in Türkiye unless a Turkish national could in return, buy a home in that respected country. However in May 2012 a new law was implemented by the Turkish government which lifted a large amount of these restrictions and opened the Turkish property market to nationals of more than 129 different countries. Some rules still remain in place, such as Real Estate owned by a foreign national in a Turkish town can’t exceed 10% of the town’s land area and a foreign national can’t purchase more than 300,000m² of land in Türkiye without first acquiring approval from the ministry of interior in Türkiye.

Some regions in Türkiye have restrictions for nationals of certain countries buying property in Türkiye. However these nationals can still buy property in other regions of Türkiye. Russian and Ukrainian nationals can’t buy property along the Black Sea coast of Türkiye. Greek nationals are not permitted to purchase Real Estate in the Black Sea coast and some Aegean districts of Türkiye.

Foreign nationals that are currently allowed to buy Real Estate in Türkiye

Afghanistan, Andorra, Angola, Antigua & Barbuda, Albania, Algeria, Argentina, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bolivia, Bosnia Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi Djibouti, Cambodia, Cameroon, Canada, Central African Republic, Chile, Colombia, Comoros, Congo, Croatia, Czech Republic, Denmark, Dominica, Dominican Republic, East Timor, Equatorial Guinea, Ecuador El Salvador, England, Estonia, Ethiopia, Egypt, Morocco, Fiji, Finland, France, Gabon, Gambia, Ghana, Germany, Greece, Guinea, Guinea Bissau, Grenada, Guatemala, Guyana, Georgia, Honduras, Hungary, Iceland, India, Iraq, Indonesia, Iran, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea, Kosovo, Kyrgyzstan, Kiribati, Kuwait, Laos, Lesotho, Lithuania, Liberia, Libya, Lebanon, Latvia, Liechtenstein, Luxembourg, Madagascar, Macedonia, Malawi, Malaysia, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Mongolia, Monaco, Moldavia, Myanmar, Montenegro, Mozambique, Namibia, Nauru, Netherlands, New Zealand, Niger, Nigeria, Norway, Northern Cyprus, Nicaragua, Oman, Pakistan, Palau, Palestine, Panama, Papua New Guinea, Peru, Philippines, People’s Republic of China, Paraguay, Poland, Portugal, Romania, Ruanda, Russian Federation, Qatar, Samoa, San Marino, Sao Tome and Principe, South Africa, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovenia, Slovakia, Solomon Islands, Somalia, South Africa, South Sudan, Spain, Sweden, Switzerland, Sri Lanka, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Sudan, Suriname, Swaziland, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Tuvalu, Turkmenistan, Uganda, Ukraine, United Arab Emirates, Uruguay, USA, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe,

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

If the procedure is to be conducted by a third person authorized by means of a Power of Attorney issued abroad, the Power of Attorney must include the authorization relating to the procedure to take place. Besides, the Power of Attorney shall meet the following conditions:

• Issued by Turkish Consulates at their discretion over Real Estate
• Issued by competent authorities entitled to issue Power of Attorneys abroad
• Issued in the language of the country where it is issued
• Includes photo (with a clear seal and signature over the photo)
• Includes the Apostil, if issued in a country that is a party to the Hague Convention
• Certification of the signature of the official signing the Power of Attorney by the relevant authority and the signature and seal of such authority should be certified by the Turkish Consulate if the Power of Attorney is issued in a country that is not a party to the Hague Convention

The Title Deed application should also provide notarized and certified Turkish translation of the Power of Attorney that meets the required criteria.

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

The requirements for Title Deed Registry (TAPU) are the following:

• Title Deed Registry (TAPU) of the Real Estate or information on the village/quarter, map section, plot, building, and independent section
• Photo ID or passport issued by the country of which the foreigner is a citizen (notarized and certified translations should be submitted for ID cards and passports issued in alphabets other than the Latin alphabet)
• If the procedure involves representation, document regarding representation (order regarding guardianship, letter of authorization, Power of Attorney etc.
• Document on the current market value of the Real Estate issued by the relevant municipality
• Mandatory earthquake insurance policy for the buildings
• A photo of the seller and two photos of the purchaser (taken within the last six months, 6cm x 4cm in size)
• Certified interpreter/translator if a party does not speak Turkish

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

The Turkish TAPU (Title Deed equivalent UK) is an extract from the Turkish Real Estate registry. This property registry, also known as TAPU office, is comparable to the Land Registry in the UK. On the TAPU you will find in short the following information: location, a photograph of the owner (optional), type of TAPU, data of the property and archiving data.

There are red and blue TAPU's. A red TAPU is for a common hold (Condominium in the US). You get a red TAPU if you buy an apartment in an apartment complex, a villa or a house in a project. A blue TAPU is not a common hold. A blue TAPU can have different legal meanings: farmland, building land, or building land where there is already a house on the plot.

The red Turkish TAPU consists of 3 parts:

• Part A - Main Real Estate Section including location details of the apartment building or project
• Part B - Independent Unit Section
• Part C - Archiving data, stamp and signature of the TAPU official

ID	Turkish	Meaning
Part A - Main Real Estate Section including location details of the apartment building or project
1	Ili	Province
2	Ilçesi	Borough, district or town
3	Mahallesi	Parish, quarter
4	Köyü	Village
5	Sokagi	Street
6	Mevkii	Location
7	Fotograf	Photograph (Passport sized)
8	Pafta No	Map Number Land Registry
9	Ada No	Plot Number on Map
10	Parsel No	Parcel Number on Map
11	Niteligi	Type of Property ("Building" or "building land")
12	Ha	Hectares
13	m2	m2
14	dm2	dm2
15	Siniri	Boundaries of the parcel
Part B - Independent Unit Section
16	Kat Mülkiyeti	Ownership of real property rights for land and the finished building on the land
17	Kat Irtifaki	Ownership of real property rights for land and the unfinished building on the land
18	Devre Mülk	Timeshare. Fractional/timed ownership (the independent unit is owned just for a certain period of a year)
19	Satis bedeli	Purchase price. Make sure that this is the actual price otherwise you run the risk of a substantial fine for tax evasion
20	Niteligi	Type of Property ("Building" or "building land")
21	Arsa Payi	Share in land shown as Share/Total
22	Blok No.	Block (Building, Mansion) Number
23	Kat No.	Floor Number
24	Bagimsiz bölüm No.	Apartment, house number
25	Edinme sebebi	The reason why the property is being acquired. For example, 'Sales', 'Donation' or 'Legacy'. Including the particulars of the buyer and seller
26	Sahibi	Name of Owner or Owners. More than one person can own the same property. In this case, their respective shares are to be shown in this section
Part C - Archiving data, stamp and signature of the TAPU official
27	Cilt No.	Binder No. First coordinate of the location of the sales contract in the Public Registry
28	Sahife No.	Page No. Second coordinate of the location of the sales contract in the Public Registry
29	Sira No.	Entry No. Third coordinate of the location of the sales contract in the Public Registry
30	Tarihi	Date of registration
31	Yevmiye No	Transaction Number (each transaction is assigned a unique number)
32	Siciline uygundur	Appropriated for registration. Stamp and signature of the official of the Public Registry

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

Legal restrictions on acquisition of Real Estate by Foreign Natural Persons include the following:

• If granted permission, natural persons of foreign origin may acquire any Real Estate in areas where private property is allowed (residential, commercial, land lot, agricultural etc.).
• If the Real Estate acquired does not include any previously built construction, the owner of the foreign origin is to apply to the relevant public administration within two years in order to develop a p​roject.
• Natural persons of foreign origin may acquire Real Estate and limited rights In Rem anywhere in Türkiye of up to 30 hectares. The Cabinet of Ministers may grant larger areas if deemed appropriate.
• Natural persons of foreign origin may not acquire and lease Real Estate within prohibited military zones or military security zones. However, they may acquire and lease Real Estate within special security zones upon permission of the Governor’s Office.
• Total acquisition by natural persons of foreign origin may not exceed 10% of the total district area where private property is allowed. Foreigners' request for acquisition shall not be permitted in case the 10% limit is exceeded.

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

In Türkiye, only trading companies established according to the laws of their respective countries and having legal personality may acquire Real Estate and limited rights In Rem as foreign legal persons. Legal persons other than such trading companies (foundations, associations etc.), on the other hand, may not acquire Real Estate and may not have rights In Rem.

Acquisition of Real Estate by trading companies established in foreign countries according to the laws of their respective countries and having legal personality, on the other hand, may be granted in exceptional cases and is deemed possible only when stipulated under the provisions of international conventions or special laws. Among the specific codes inclusive of provisions on this matter are Law No. 6491 on Turkish Oil, Law No. 2634 on Tourism Incentive, and Law No. 4737 on Industrial Zones.

NOTE: With respect to mortgages, an exception is stipulated whereby there is no limitation as to the mortgages to be created over the property in favor of foreign natural and legal persons.

Acquisition of Real Estate and Limited Rights in Rem by Companies with Foreign Capital Established in Türkiye

Companies established in Türkiye as a legal entity are considered under the category of foreign-owned companies in accordance with the following conditions:

• Foreign investors hold fifty percent or more of the shares, OR
• Foreign investors are entitled to appoint and dismiss the majority of the board of directors

These companies may acquire property and limited rights In Rem in order to engage in activities set forth in their articles of association.

For this purpose, companies are required to apply first to the Governor’s Office where the property is located.

On the other hand, if the Real Estate intended for acquisition is located in a prohibited military zone or a military security zone, the Real Estate acquisition shall be subject to the permission of the General Staff; and if the property is situated in the private security zone, it shall be subject to the permission of the Governor’s Office of the respective region.

In the event of positive settlement of the application to acquire Real Estate, the Governor’s Office shall inform the company/enterprise and the Land Registry Office in writing so that the registration may be fulfilled.

The following procedures do not require permission from the Governor’s Office, therefore the application to the Land Registry Office may be directly made without seeking permission.

• Creation of mortgage
• Acquisition of Real Estate within the scope of cashing out a mortgage by the beneficiary of a mortgage
• Transfer of Real Estate ownership and limited rights In Rem arising out of company mergers and demergers
• Acquisitions in organized industrial zones, industrial zones, technology development zones, and free zones
• Acquisitions realized due to the transactions considered as loan within the framework of the relevant banking legislation or for the purpose of collection of receivables

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

Natural persons of foreign origin are granted the right to acquire Turkish citizenship by means of exceptional procedures upon purchase of Real Estate worth USD 600,000 and more.

For this purpose, foreigners

• Shall purchase Real Estate worth at least USD 400,000
• Shall state, in the application for acquisition, that they purchased the Real Estate for this purpose, the title deed should state this purpose, and the foreigner shall declare that they shall not sell the Real Estate for three years in the section of the form where declarations are made

Once the land registry procedures are complete, the foreign national may apply to the relevant administrations to claim the right of residence or citizenship by submitting the certificate of eligibility to be issued for the owner.

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

The process for buying and selling Real Estate in Türkiye is considerably easier, faster and more reasonable than they are in many other countries. As long as the Real Estate is approved under the local or private construction regulations, it will be eligible for a Title Deed, making it able to sell, and in the event of death, buyer's immediate family will be able to inherit their property in their name. The transfer of the property is made by the Land Registry Office of the relevant district. Kas Properties does legal checks on the property to ensure a legal transaction before marketing the property.

After these easy and short procedures, the purchase/sale of the property will be fully completed.

Legal documents that are necessary for the Title Deed Registration Office

• Four portrait passport photographs suitable for legal documents
• Power of Attorney for either the Real Estate agency or a Solicitor
• Passport and photocopy of passport for application for Power of Attorney
• Tax number from the Revenue Office

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

Approximate cost of buying a property

Real Estate Agency Fees	3% + VAT Service Fee on the actual sales price of the property to be paid by both buyer and seller
Government Property Tax	4% on the declared value of the property to be paid to the government. This expense is usually shared by the buyer and the seller
Council Application Fees	350 TRY
Valuation Report (Foreigner)	2,600 TRY
Sworn Translator Fees at Title Deed Office (Foreigner)	1,250 TRY (approx)
Sworn Translator & Notary Fees for Passport Translation (Foreigner)	2,400 TRY (approx)
Solicitor Fees	2,000 GBP (approx) where the client appoints a Solicitor to perform Title Deed Transfer instead of using free service provided by Kas Properties)
Electricity Transfer	500 TRY (approx)
Water Transfer	400 TRY (approx)

The main determining factor for completion was always military approval. Since latter has been abolished, completion can be as quick as the parties can organize their finance and either travel to Türkiye or set up a Power of attorney to a representative.

For detailed information regarding the acquisition of Real Estate by foreigners in Türkiye see Tapu ve Kadastro Genel Müdürlüğü (currently in Turkish only).

Advertised prices like in all property markets are open to offers being made and we can advise you on what is a sensible level of offer. When making an offer all terms of the sale, not just the price, should be agreed upon.