bodrum

Property

Q Can I purchase more than one property?

A Yes. As many as you wish.

Q Can I give Power of Attorney to act on my behalf?

A Yes. If clients are in Turkey, they can give POA to the agent. If POA is given, the agent can sign the Sale Agreement and deal with the water and electricity connection on behalf of the client.

Q Do I need to pay £10.00 every time I enter the country?

A Upon entering Turkey, UK citizens will need to pay £10 per person for a visa, payable by £10.00 note. Even although this visa is valid for 3 months, it will be a single entry visa, which means that the client will have to pay £10 each time they enter Turkey. However, if they ask for a multiple entry visa (same price of £10), then when they next return to Turkey, if it is within the three month period, the visa fee will not be payable.

Q How long does it take until I own the property in my name?

A It usually takes 3 – 6 months for the Title Deeds (TAPU) to come through. When this happens, the property will be in the clients name.

Q Can the Title Deeds have more than one name on it?

A Yes, it can. It can have as many names as you wish. You will need passport copies, full names and addresses and passport photographs of all those whose names are to appear on the Title Deeds.

Q If I die, will the Turkish Government have any claim to my property?

A No. The same rules apply to English law in that the husband/wife and children will then inherit the property.

Q I have heard that the Turkish Government has a percentage share in each property that foreigners purchase, is this true?

A No, it is not true. The Turkish Government has no share, stake or claim on any property that is bought by foreigners and Turkish citizens alike. The property purchased will belong 100% to the buyer. This has been verified by the Title Deeds office in Turkey.

Q Are properties freehold or leasehold?

A 100% freehold.

Q What kind of taxes will I need to pay?

A A Buyers Property tax, which will be approx. 1.5% of the sale agreement price.

A Government tax – approx. £100.00

A Property tax – 1% of property price

Community tax – paid twice or once yearly (only £8 for the year!) for local services.

A new law was passed in August 2003 stating that all persons purchasing property will have to pay Earthquake Insurance to the government. The amount depends on the property price and location, and is usually in the region of £20 - £60. The actual amount to be paid will only be determined once the Title Deeds have been authorised. Once the payment has been made for earthquake insurance, the government will issue clients with an earthquake policy. From then on, earthquake insurance will be paid annually.

Q If I purchase property, do I have to use a solicitor?

A Technically, no, although we do use a solicitor, so clients will have peace of mind that everything is legal.

Q Is purchasing property in Turkey a good investment opportunity?

A Currently prices in Turkey are incredibly reasonable, so owning property is a fantastic investment opportunity. Prices are constantly rising, so purchasing now is a good idea! It is widely believed that Turkey will enter the EU. Once that happens, property prices will definitely increase.

Q Will I have to pay a tax on my rental income?

A Foreigners that purchase property and subsequently rent it out are not taxed on this rental income. However, Turkish citizens who own property in Turkey and rent it out, are taxed on their rental income.

Q If I purchase property within a complex, how much would I have to pay yearly for maintenance?

A Maintenance costs for complexes in Bodrum vary considerably - from approximately £170 - £750 per annum for the upkeep of the complex.

Q Is it better to install ceiling fans or air conditioning units?

A It is definitely worthwhile to install air conditioning units. In Bodrum, an air conditioning unit for the bedroom will cost £200 to £420 depending on the room size, and an air conditioning unit for the living room will cost £400 to £700, once again depending on the room size. Most air conditioning units are split units which means they blow cool air in the summer and warm air in the winter.

Q Are all properties surveyed before they are purchased?

A A law was passed recently whereby all new properties had to be surveyed. However, older properties will probably not have been surveyed, A quotation for a survey by an architect can be arranged.

Q A lot of properties have the facility of solar heating panels. Can these also be used in the winter?

A It is a good idea to have solar heating panels installed if your property does not have one. Solar heating panels are used in the summer months to heat water. They are ecologically and economically sound. However, on overcast days or days when it is cold, especially in the winter, an electric heating water system is also required.

Q If we sell our property, can we take all of our money out of Turkey again?

A Yes you can. It would be better to transfer the money via a bank so that it is recorded leaving and entering countries.

Bank Accounts

Q Can I open a bank account in Bodrum?

A Yes. We can assist clients with this. First you will require a Tax Number we will escort you to the relevant office to obtain this. At the bank you will require passport and tax number for the account to be opened. Setting up a bank account is useful for paying utility bills via direct debit.

Q What are the bank opening times?

A Opening hours vary, but banks are generally open from 09.30 – 17.00 with a lunch break between 12.30 – 13.30.

Q What other facilities to banks offer?

A Facilities also vary, but most major banks offer money exchange (travellers cheques, sterling, eurocheques (but note that they do charge commission for these services). Most banks have a cashpoint system where holders of Visa, Access, MasterCard, Eurocard and Delta can obtain cash.

General

Q What is the crime rate like in Turkey?

A The crime rate is low in Turkey – definitely much lower than in Spain and the UK!

Q Can I have satellite TV installed?

A You can have a satellite dish installed for satellite TV, so you can watch programmes such as BBC World, BBC Prime, CNN International, Eurosport and other English programmes.

Q Can I have a telephone installed?

A If you have a residency visa, you can have a telephone installed. Otherwise, no. Generally mobile phones are used.

Q What is the electricity voltage?

A 220 volts.

Q Apart from Turkish Lira, what other currencies are accepted in Turkey?

A Sterling, Euros and US Dollars.

Q We will be moving to Turkey permanently and want to bring our furniture with us. Is this a good idea?

If you have a residency visa you would be allowed to bring personal goods into Turkey. However, electrical goods are taxed heavily and the cost of furniture is so reasonable in Turkey that it may be preferable to sell your furniture in the UK and purchase new in Turkey.

Q Can I bring my pets to Turkey?

A As long as your pets have their own passport, it is possible. This must be obtained 14-days prior to travel. However, if you have to return to the UK, your pets would need to go into quarantine for approximately six months.

Q What is the best time of year to come over?

A Summer months are from May – October. The hottest months are July and August where temperatures reach 40 degrees Celsius. If you do not like extreme heat or if you are elderly, it is recommended to visit in June or September. The second week of September is a lovely time of the year. The scenery in Bodrum is also beautiful in May as this follows the rainy season, so there are hundreds of wild flowers about and the grass is green. In the winter months, it does tend to rain and get much cooler in the evening. February is generally the coldest month of the year.

Q Is it safe to drink the water from the taps?

A No. The water in the taps has a high mineral content. It is recommended to drink bottled water at all times .

Q What are the doctors like in Bodrum?

A Most doctors in Bodrum speak English and are well trained. There is one state hospital, two private hospitals and many clinics in Bodrum area.