Turkish Real Estate Property Investor Guide

Investor curiosity about the Turkish housing market is steadily about the increase, in spite of the downturn affecting many other world property markets. Not just is the investment market progressively growing, lifestyle purchases are gaining appeal from many European buyers.

Buying a property for either investment or lifestyle follows a very uncomplicated process, where additional incentives have already been imposed by the Turkish government to help attract buyers. These incentives add the temporary lowering of title deed fees, along with the lack of capital gains taxes on properties re-sold after a specific period of time.

Desire for Turkey's sought after emerging housing market has continued to evolve significantly with some other benefits including pre-EU property prices, strong capital growth, economic stability and ideal buy-to-let market opportunities.

The payment of a holding deposit will be required once the property to be purchased has been selected. The holding deposit could differ between developers or agents, yet usually comes down to approximately EUR3,000 or £2,000. The holding deposit will take away the property from sales listings as the legal paperwork and due diligence is done.

Variations in payment schedules will occur between re-sale and off-plan properties, as frequently re-sale properties will require the customer to maneuver into the completion phase once the legal due diligence has been carried out. As soon as the homework has returned a satisfactory result for moving ahead using the sale, a reservation deposit will probably be paid. The reservation deposit will even vary between developments and will range from approximately 10% and 40% of your purchase price. Part of the legal fees may also be required with the reservation deposit phase.

The buyer's representing solicitor will arrange the necessary military clearance that is required by all foreign purchasers in Turkey. Military clearance is actually required to ensure that the property to be purchased is not located within specific restricted zones, such as military land along with other land protected forcultural and historical, or ecological reasons. For more information please visit Turkey Real Estate

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