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CAN I BUY A PROPERTY IN MY NAME?
Yes, you can buy a property in your name. Since 2002 the law has
changed giving British citizens the right to buy property and
the title deeds in their own name, or a number of people can purchase
property in their names e.g partners or investment partners.
How Do I Pay For It?
The funds for the purchase should be transferred into the country
through a Turkish bank and specifically identified for that purpose.
The foreign currency should be sufficient to cover both the purchase
cost plus other costs relevant to the purchase. A recent decree
aimed at aligning Turkey's currency laws with the EU states that
importation of foreign currency is free, it cannot be subject
to any legislation and it's origins cannot be questioned. Decree
32, August 1989 Article 4.0.
Are there extra costs?
Buyers tax: Approximately 1.5% of the sale agreement price.
Government tax: Approximately £100 / € 148
Community tax: £8 / € 12 paid yearly for local services.
Property tax : Approximately % 0,5 of property price, paid yearly.
Water & electricity connection fee: Approximately £250 / € 370,
which is a one off payment
Earthquake Insurance: Depends on property price and location.(required
by law) If property is bought in a complex:
There is an average maintenance charge.
Currently, some local councils are requiring an authorised high
detailed map of the property location which typically costs £150
- £300
When purchasing property, the buyer will be responsible for paying
the water and electricity connection fee.
What about ongoing costs?
Property tax, paid annually at a fixed percent of the declared
value, (on a new home a 25% reduction is given until the revaluation
conducted after the first five years).
Gas is normally used for cooking and can also be used for water
heating. Cylinder refills cost approximately £10.00 and last approximately
a month for water heating and two months for cooking (a deposit
is taken for each gas cylinder).
Electricity is cheap approximately £0.05p a kilowatt. Bills are
payable monthly at a local bank or directly at the Turkish Electricity
Board.
Water costs approximately £0.40p per ton (1,000 litres on mains
supply) or £3.00 per ton when bought from a bulk tanker.
Site maintenance, groups of houses, particularly developments,
will form a management service, committee or company to maintain
common facilities - common gardens, repainting, etc.
The cost of this will vary from development to development, but
generally starts at around £150.00 per annum. Their conduct is
governed by Turkish law.
Can I rent my property?
Rental income is liable for tax assessment in either the UK or
Turkey and will be payable depending on the personal situation.
What about furnishing my new home?
Furniture is generally cheap, and can be custom made by local
craftsmen if required. It is possible to buy in most towns at
very competitive rates, with a wide range of goods. Electrical
items are less expensive than in England. Towels and linen are
cheaper than Europe, however, household goods are extremely cheap
and can be purchased at the local markets. Check out the following
web sites to give you an idea.
How Long Can You Expect To Wait For The Delivery Of Our Furniture?
If in stock you will get your goods delivered on the same day,
if not in stock you may wait a few days for the delivery.
What About Communications?
Telephones are applied for at the Turk Telekom and connected the
next day, depending on availability in your area. There is a small
line rental payable annually approximately £12.00. Lines are generally
good and Internet access easy and well serviced. Most UK papers arrive
the next day, there is a national daily newspaper printed in English,
the Turkish Daily News. A short-wave radio is useful to pick up
the BBC World service. Television reception is good and if you
subscribe to Digiturk Satellite system you receive 52 channels
including MGM, Movie Max 1&2, BBC Prime, Discovery Channel, Euro
sport, CNN world news, etc.
There are large European communities living in Turkey full time,
plus many transitory people living on boats in the harbours for
months at a time. During the winter months there are many social
occasions arranged such as book swaps, walks and BBQ's.
Can We Open A Bank Account In Turkey?
Yes All you require to open a bank account is your passport.
Who Inherits Our Property If One Of Us Dies?
According to Turkish law, the property automatically goes to the
next of kin. To make amendments to the title deeds legal assistance
is required.
If I sell my property can I take the proceeds back to the
UK?
Yes - you have a legal right to take any proceeds back to the
UK
Is Turkey Safe?
Turkey is a very safe country. The crime rate is very low and
currently stands at 3%
What about Schools and Colleges?
If you are a resident in Turkey your children can attend local
government schools or private schools. The private schools are
international, accommodating pupils from all over the world. Both
types of schools offer a good standard of education.
Can I take my dog/cat with me?
Yes - but you must have a pet passport and vet documents
What about the general cost of living?
You will find most items more than 50% cheaper than the U.K. Fresh
produce is great value for money. Electrical items are the most
expensive.
What about Healthcare Standards and Costs?
Standards are generally very good. All foreigners have to pay
for medical treatment. You can purchase a Health Insurance plan
in Turkey for up to 55 years of age. Furthermore there are reciprocal
private health plans available in the UK which are accepted in
private hospitals in Turkey
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