Legal Guide for Buying Real Estate in Turkey
- written by Dayslegal
- May 23, 2017
- 2 min read
Updated: May 30, 2019
From day to day, the numbers of foreigners who buy real estate in Turkey are increasing. In 2017, the foreigners bought 8.182 residence in Istanbul, 4.707 in Antalya, 1.474 in Bursa and 1.079 in Yalova. Be careful of scams and read our legal guide to be safe.
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Property Pre-Sale Agreement and Registering
According to the legislation of Turkey, you can gain the property rights by registering the real estate to Land Registry Directorate. For the process, estimated cost and details contact one of our lawyers. Also we do suggest to sign an Property Pre-Sale Agreement, in order to strictly define the conditions governing the sale of the immoveable property when the parties have finalized the terms of sale and purchase. The signature of "Property Pre-Sale Agreement" shall be done in the presence of the notary public.
The title deed fees to be paid at Land Registry Directorate
The title deed fees are paid at Land Registry Directorate just before registering the property in your name. The title deed is charged at the rate of 2% of the sales price from the buyer and the seller equally, that is to say, unless it is decided by the opposing parties. The total percentage of title deed fees %4 of the equivalence value of the real estate. Please pay attention that the real amount paid for the real estate and the equivalence value of the real estate at the Land Registry Directorate may be different. The title deed fees are calculated on the equivalence value of the real estate at the Land Registry Directorate.
The Government has made a temporary discount on title deed fees on 15 March 2017. The fees will be calculated and collected on 3% until 30.09.2018.
FOR MORE INFORMATION PLEASE CONTACT US AT: info@dayslegal.com