Sale of a Property in Turkey

A presentation brought to you by our law firm in Turkey

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The Property Market in Turkey

Turkey’s residential property market is evolving and prices have seen an uprising trend.

Cities like Istanbul, Ankara or Izmir are top locations for investing in residential property. Investors purchase homes or office buildings and refurbish them for rent or future sale.

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Buying a Property in Turkey

Purchased property can be resold at a higher price once the building or residential complex has been refurbished and/or rearranged.

With a few exceptions, all foreign investors are allowed to buy and sale property in Turkey.

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Selling a Property in Turkey

In order to sell a property in Turkey, the seller will need to make sure that his price is correct and according to the market trends.

All sale transactions for property, whether residential or for business purposes, are made based on sale agreement.

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Conditions for Selling Propertyin Turkey

A simple property selling procedure consists of a number of mandatory steps:

drawing up an initial sale agreement, establishing the taxes for the transaction, concluding the final sale agreement with

the buyer.

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Taxes for Property Sales in Turkey

According to the Turkish tax law, the seller will need to pay a number of taxes when transferring the ownership of the property:

real estate tax, property transfer tax, VAT, if the areas of the house is more than

150 sq. m, capital gains tax.

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The Purchase/Sale Agreement

The property purchase agreement will contain all the essential terms of the transfer, including the agreed price, a description of the property, the identification details of the buyer and the seller and any special conditions.

Buyers may perform a real estate due diligence with the help of our lawyers in Turkey.

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Concluding a Purchase/Sale Agreement for Turkish Property

It is not uncommon for the buyer and the seller to sign a preliminary sale/purchase agreement before agreeing upon the final terms of the sale.

The transfer of property ownership is only valid when made through an official deed and registered with the Land Registry.

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Investing in Real Estate in Turkey

Foreign investors in Turkey can buy and sell all types of property: homes, business offices, lands or fields, as long as they comply with the existing Turkish laws.

The principle of reciprocity for foreigners who want to purchase property in Turkey has been revoked.

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Legal Aid for Property Sale in Turkey

Our lawyers in Turkey can help you with additional information about the property sale process.

For any legal advice or assistance during real estate transactions you can contact our law firm in Turkey.

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For more information please contact us at:

Thank you for your attention!

 (+44)203-287 0408 (for international clients)office@companyformationturkey.com http://www.lawyer-turkey.com