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Advice on Buying Turkey Property

Posted by Tomy | General | Wednesday 29 August 2007 3:05 am

Accommodation accounts for around 25 per cent of the average Turkish family’s budget, but can be more in the major cities.

Property prices and rents in Turkey vary considerably depending on the region and city.

For example, a property rented outside a municipality will cost £75.00 a month, and £150.00 a month in most municipalities on the Mediterranean and Aegean coast.

Residents Visas

If you are relocating to Turkey for more than six months then you are well advised to apply to the Turkish Government Office for a residents.

They will issue a document for you to present to the police neared your new home who in return will process the application.

Rent (Kiralik) or buy (Satilik)

If you’re planning to stay in Turkey for a year only then renting is usually the best solution since the costs associated with purchasing a house can be 10 based on the declared price of the property.

Government tax: Approximately £100

Community tax: Approximately £8 paid yearly for local services.

Property tax : Approximately % 0,5 based on the declared value of property, paid yearly.

Water & electricity connection fee: Approximately £250

Earthquake Insurance: Depends on property price and location.(required by law)

If property is bought in a complex: There is an average maintenance charge of approximately £150 – £400 per year

When purchasing property, the buyer will be responsible for paying the water and electricity connection fee.

These guidelines are meant for guidance only and describe straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take.

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