Frequently Asked Questions
About Selling Property in Turkey
To sell property in Turkey, you need to ensure the following:
- You must have a clear title deed (Tapu) free of any legal disputes or debts.
- Both buyer and seller must have a tax number.
- Foreign sellers must obtain a property appraisal report.
- Transactions must be completed at the Land Registry Office.
- The seller must provide a DASK (compulsory earthquake insurance) certificate.
While it is not legally required to use a real estate agent, it is highly recommended. An experienced agent can help with pricing, marketing, finding buyers, and handling legal paperwork. They can also ensure the transaction complies with Turkish regulations.
When selling property in Turkey, be aware of the following costs:
- Capital Gains Tax: Payable if you sell within five years of purchase.
- Real Estate Agent Commission: Typically 2% of the sale price.
- Title Deed Transfer Fee: 2% to 4% of the declared value of the property, usually shared between buyer and seller.
- VAT: %0 to %20
- Legal Fees: If you hire a lawyer to assist with the sale.
Property valuation in Turkey can be determined through:
- Hiring a certified property appraiser.
- Comparing similar properties in the area.
- Consulting a local real estate agent for market trends and insights.
You will need the following documents:
- Original title deed (Tapu).
- Proof of identity (passport for foreigners).
- Tax number.
- Energy performance certificate.
- DASK insurance policy.
- Property appraisal report (for foreign sellers).
- If applicable, power of attorney.
The selling process can vary, but typically:
- Marketing and finding a buyer can take a few weeks to several months.
- Once a buyer is found, the transaction can be completed in a few days to a few weeks, depending on the readiness of documents and the availability of the Land Registry Office.
Yes, foreigners can sell property in Turkey. They must ensure all documents are in order and comply with Turkish regulations. It’s also advisable to work with a lawyer or real estate agent experienced in transactions involving foreign nationals.
Consider the following tips:
- Ensure the property is clean and well-maintained.
- Make necessary repairs and upgrades.
- Stage the property to highlight its best features.
- Use professional photos and marketing materials.
- Be flexible with viewing times.
In Turkey, notaries are not required for property sales. The transaction is completed at the Land Registry Office. However, a notary can be involved if there is a power of attorney or if documents need to be certified.
About Renting Property in Turkey
To rent property in Turkey, you need to:
- Sign a rental agreement, known as a “kira sözleşmesi.”
- Both the landlord and tenant must provide identification (passport for foreigners).
- The landlord may require a deposit, typically one to three months’ rent.
While not legally required, using a real estate agent can be beneficial. Agents can help find suitable properties, negotiate terms, and ensure all legalities are properly handled.
- Short-term leases: Generally less than a year, often used for vacation rentals.
- Long-term leases: Typically one year, renewable annually. This is the most common type for residential rentals.
A standard rental agreement usually includes:
- Duration of the lease.
- Monthly rent amount and payment terms.
- Deposit amount.
- Responsibilities for maintenance and repairs.
- Terms for terminating the lease.
Rental costs vary by location, size, and type of property. Major cities like Istanbul, Ankara, and Izmir generally have higher rental prices compared to smaller towns.
- Search for a property: Through online listings, real estate agents, or classified ads.
- View the property: Arrange a visit to inspect the property.
- Negotiate terms: Discuss rent, deposit, and any special conditions.
- Sign the rental agreement: Ensure both parties sign and keep a copy.
- Payment: Pay the deposit and first month’s rent as agreed.
Yes, foreigners can rent property in Turkey. It is advisable to have a translator or legal advisor if you are not fluent in Turkish to understand the terms of the rental agreement fully.
- Right to privacy: The landlord must give notice before entering the property.
- Right to a habitable living condition: The landlord is responsible for major repairs and maintenance.
- Right to receive a copy of the rental agreement: Both parties should have a signed copy of the contract.
- Right to receive rent on time: Tenants must pay rent as agreed in the contract.
- Right to inspect the property: With reasonable notice to the tenant.
- Right to request a deposit: To cover potential damages or unpaid rent.
- Mutual agreement: Both parties agree to terminate the lease.
- Notice period: Typically, tenants must provide written notice one month in advance for long-term leases.
- Breach of contract: Either party can terminate the lease if the other party breaches the terms of the agreement.
Notaries are not typically involved in rental agreements in Turkey. However, having the contract notarized can provide additional legal protection.
- Stamp Duty: Usually paid by the tenant, around 0.1% of the annual rent.
- Real Estate Agent Fee: If you use an agent, the fee is typically one month’s rent.
- Communication: Try to resolve the issue through direct communication.
- Mediation: Seek mediation services if direct communication fails.
- Legal action: Consult with a lawyer to understand your legal options and rights.