The price of a property varies from one city to another and from a district to another within the same city, but on average, it is fair to say that you can own a good apartment for 60,000 $. And yes, the installments system is available in Turkey.
Q11: Can I define my attorney to run the property due to transactions in Turkey?
Yes, you can by authorizing your attorney in your country, translating the authorization( sworn translation) and getting it authenticated by the Turkish Embassy in your country.
Q12: What are the due expenses other than the property price?
The owner shall pay the real estate broker 3 % of the property value, and also shall pay the purchase tax, paid for one time, which is 3.9 % of the total value of the property.
Q13: What about property insurance in Turkey, are the global branches of insurance companies available?
Yes, they are. Property insurance against earthquakes is available by international branches of known insurance companies.
Q14: After buying the property, how could I provide it with gas, electricity, water and internet services? Then how could I pay the bills during my absence?
You have to go to gas, water, and electricity companies, pay a nominal amount insurance, and register meters respectively on your name. We, in Imtilak real estate may help you through real estate management service.
Q15: How can I get benefits from the property during the months that I would not be in Turkey?
You may either rent the property or offer it for real estate investment, and the renter can transfer the monthly payments to you via the bank.
Q16: If the price of a property rises and I want to sell it, what are the procedures thereof?
If you wanted to sell your property before five years from the date of purchasing, you have to pay a tax that is about 20 % of the net profits for the Turkish tax department. However, if you wanted to sell it after five years, there are no taxes. Procedures also vary if the property owner is a company, not an individual investor.
Q17: Is it possible to come to Turkey in my own car and register it in Turkey?
Yes, but the car entrance shall be through either land border crossings or seaports. That would happen without paying any taxes, on condition that the car leaves Turkey within six months. Otherwise, you have to pay a tax.