^[1]

Turkey’s Land Registry ^[2] figures show a piping hot market right now with over 74,000 foreign property owners in the country. Out of these, more than 20,500 are British. Considering British pensions and how they can easily supply a lifestyle in Turkey it is no wonder many Brits flock to the sun.

Although Turkey is behind the established property spots like Spain and France in terms of buyers, the country has morphed from being an emerging market for adventurous buyers to being listed in the top ten most popular destinations pretty much as a standard.

With the lift of the Turkish investor ban ^[3] on May 1st this year, noting will hold property investors back from finding their own Turkish piece of real estate.

This trend has prompted a lot of new development within the country and resulted in new hotels, roads, airports, marinas and golf course being built to satisfy the demand. Despite expected surges of new buyers over the coming years, British investors ^[2] are still able to buy a good quality apartment from £35,000 along coastal resort towns.

With an estimated influx of 25 million tourists this summer, Turkey is gearing up for a record season. many of these tourists are expected to buy into the property market and by the year 2023 Turkey will be one of the five most popular tourist destinations in the world if the Turkish government has their wish granted.

However, before you drop everything you do right now in search of your dream property find out how best to advance to get there.

^[4]

How to buy Turkish property (the buying process)

Overseas investors are advised to consult with an English speaking Turkish lawyer before buying any property in Turkey ^[5].

British citizens may purchase property in Turkey, subject to the following conditions:

1. 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.
2. Applications should be made to the District Land Registry office (Tapu ve Kadastro Mudurlugu), when a suitable property for purchase is found.

[ad#turkey2]

There are basic guidelines ^[6] recommended to be followed:

• Double checking the property
• Preparing a draft contract
• Having the draft contract translated
• Having the contracts notarised
• Payment terms of the contract
• Application to the TAPU Office
• Documents asked by the TAPU Office
• Forbidden zones and size limitation
• How are FDI and foreign companies treated by TAPU Offices?
• Issuance of a new TAPU by the Office
• Declaration of acquisition to the local government

Where to buy Turkish property

Turkey boasts an ever growing array of property hot spots. We have looked into several of these to give you a better idea of where to start looking.

1. Alanya: a large seaside town with good beaches, service and entertainment. Already home to a large expatriate community, this town offers a good range of apartments. Stretched some 25 km along the coast, there are plenty of choices and activities.
2. Kalkan: an attractive and friendly resort 45 minutes from Antalya airport. Nearby golf courses and Roman ruins as well as sandy beaches, shops and more make it a popular place.
3. Calis: is Fethiye’s nearest beach resort and it is attracting British buyers in droves. Affordable property and a long stretch of seashore are partially to blame for this boom.
4. Bodrum: is one of the country’s most popular resorts. There is great shopping, a very bustling nightlife and lots to see and do in Bodrum. Beyond the main town visitors find a string of very different, smaller resorts. A wide selection of property from budget apartments to multi million dollar villas guarantees the popularity of this place. Trendy areas include Gumusluk and Yalikavak, with its new marina.
5. Altinkum: a resort town that has seen some good growth. Close to Bodrum airport with plenty of sandy beaches.

Getting independent advice (Legal)

Before investing into any overseas market it is always advised to seek legal help. You don’t want to walk head on into a nightmare. Attorneys who understand the local economy, market and legal paraphernalia are best suited to serve you with this.

TAPO ^[7] is a helpful site offering a large data base of Turkish paralegal’s and lawyers. A wealth of articles, information and tips can be found on this site. A must for any budding Turkish property buyer.