Why Invest?

More and more people are adding international property into their portfolio of savings and investments. It is changing the way we think about financial planning. Smart investors are now looking to Turkey as the country with the greatest potential returns.

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Market Report

Our forecast is that the prices are going up by an average of almost 50% per year and the trend will continue in the future. Right now Turkey is in the early stages of a significant property boom and all property for sale in Turkey currently represents fantastic value for money.

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Economic Overview

Turkey's economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that in 2005 still accounted for 30% of employment. Turkey has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communications.

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Visa/Residency Issues

Dependent on nationality of applicant. Minimum of 1 day but some applications may be referred to the Ministry of Foreign Affairs in Ankara which may take much longer.

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Getting to Turkey

Istanbul is approximately 3 to 4 hours flying time from London. Istanbul has two international airports: The larger is the Ataturk International in Yesilky, 24 kilometers from the city center which used to be at the edge of the European part but now inside of the city, the more modern is the airport Sabiha Gken Airport, 20 kilometers east of Asiatic side and 45 kilometers eastern from the European city centre.

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Fees & Taxes

• Corporate entities have to pay a tax of 30% of their previous year profits.
• General VAT rate is 18%. However, some goods and services are taxed at either 1% or 8%. Commercial delivery of a residential property with net area up to 150 m2 is subject to a VAT of 1% whereas commercial delivery of those with more than 150 m2 is subject to a VAT of 18%.

 

Turkey

Basic Information

Turkey Overview

Turkey is a Eurasian country that stretches across the Anatolian peninsula in southwestern Asia and the Balkan region of southeastern Europe. Turkey borders eight countries: Bulgaria to the northwest, Greece to the west, Georgia to the northeast, Armenia, Iran and the Nakhichevan exclave of Azerbaijan to the east, and Iraq and Syria to the southeast.

Average Property Prices

Buying Process

• The property can be paid for in either Turkish lira or foreign currency. There are also no restrictions about the transfer of foreign currency or Turkish Lira from a Turkish or foreign bank.
• Applications should be made to the District Land Registry office (Tapu Kadastro Mudurlugu), when a suitable property for purchase is found.
• A change in Turkish legislation (i.e. on 19 July 2003,) now permits foreigners to buy a property outside the boundaries of a municipality, i.e. council district (Belediye) and within a village or rural area. However, it is still necessary to obtain permission from the Military, prior to purchase.
• Almost all property in Turkey is "Freehold".