Will I be able to rent out my property easily?

Yes - If this is important, we will take this into account when helping you select your property.

What about property insurance, utility bills and general maintenance?

Our after sales service is second to none and we will assist you with all aspects of setting up your home.

How long does the buying process take?

On average between 8-12 weeks to receive the final Tapu (Title Deeds). However in some areas there are still delays from the change of law which occured in 2006. Areas experiencing the longest delays at present are in the Antalya region.

Will I need to open a Turkish bank account?

No - but once you have purchased your property it may be useful for standing orders etc.

What extra costs can I expect to pay?

The standard commision rate payable to Palm Palace is 3%. In addition to this you should expect to pay:

• 3% property purchase tax (once only)
• 1% lawyers fees (only once)
• Approx £50.00 requisition of the title deeds
• Approx £100 for the power of attorney and translator
• Property Tax of 0.3% (paid yearly)
  

If you purchase a property in a complex with security and other facilities, maintenance costs will normally be between £150 - £500 per annum.
You may, depending on where you purchase your property also have to pay for the Iskan (habitation certificate) issued form the local council, although on some occasions this will be paid for by the developer. This is a one off payment and can range from £300 upto £1500 . There will also be standard living costs which will be payable as in the UK, such as fees for waste removal, water and electricity etc, although it is worth remembering that these will be considerably cheaper than in the UK.

We are worried about the money transfer and legal issues, how will this be dealt with?

We work with established English speaking lawyers in Turkey, who provide a relaible service at a competitive rate. However should you wish to use a UK based lawyer, we can recommend lawyers who specialise in overseas property law. Although we will advise that using a UK lawyer not only slows down the process considerably, but also can increase the costs by upto £2,000.

What documents are required for purchasing a property?

In the initial stages, just your passport(s) and colour passport sized photographs.

Are there any restrictions for foreigners buying in Turkey?

Only in Military zones and some rural areas, otherwise there are no restrictions.

If we find a property on our inspection trip, what deposit can we expect to pay?

For a resale property, the standard deposit is 10%. When purchasing a new build, you will normally be required to pay around £2,000 deposit and then 30% of the purchase price within 4 weeks. At the time of purchase, the developer will agree staged payments for the remainder of the balance.

Can I get a mortgage in Turkey? If not what is the best way to raise the money?

It is now possible to raise a mortgage for your property in Turkey and the rates of interest are in line with the UK. It is standard that Turkish banks will lend at 70% LTV. We have favourable rates with Istanbul mortgages who are based in London.
Depending on your circumstances, there are many other ways to raise the finances. Many of our customers choose to use the equity in their UK property and add the money to their existing mortgage.

Will the property be Freehold?

Yes - Palm Palace only sells properties which are 'Freehold'

How can I be sure I am paying the right price for the property?

Our service to you includes searching for the very best properties and with our experience ensuring that you pay the correct market value.