01. Who am I dealing with?
If you buy a property in Turkey you must realise that you are dealing with the legal seller. Many estate-agents act as a mediator between buyer and seller although, in most cases, they are not the legal proprietors. The name of the legal owner is mentioned in the seller's certificate of ownership; this name must tally with the name registered in the public registers.
This details that the name of the party selling the property mentioned in the provisional sales-agreement must be the same as the one registered on the certificate of ownership and in the public registers.
In the case of a new construction, apart from the seller's obligations, the builder is also responsible for the correct execution and completion of the complex. This must be made clear in the provisional sales-agreement.
02. Am I allowed to buy a Residence in Turkey as a foreigner?
As a citizen of the UK or Ireland you have the right to acquire the right to ownership in Turkey. However there are number of restrictions that require a formal request for a permit. Due to the situation of our projects this procedure is a mere formality which may last from 4 to 6 weeks after which the certificate of ownership may be transferred to the buyer's name.
03. Am I allowed permanent Residence in Turkey?
A tourist visa is sufficient for a stay of less than three consecutive months. This visa is obtained at the border for €10,00 per person. This means that you may travel in and out of Turkey for three months without buying a new visa.
As soon as the time-limit of 3 months has been exceeded you must (temporarily) leave Turkey. You need not return to the UK or to Ireland. A day-trip to one of the Greek islands or Cyprus implies that you obtain a new visa for € 10,00 at the border.
Should you wish to stay in Turkey for over 3 months you can apply for a residence permit at the Turkish Consulate in the UK or in Ireland. We will be happy to assist you with this procedure.
04. What is a Tapu?
A Tapu is a certified document issued by the land registrar office to the property owner.
05. Can I finance a Residence in Turkey with a mortage?
As yet it is not possible to draw up a mortgage on real estate in Turkey. If you do not wish or are not able to finance the purchase of a residence through your own means, we advise you to look into the options of a second mortgage or of raising the current mortgage on your residence in the UK or in Ireland with your bank or your financial adviser.
06. Am I allowed to let my Residence?
Yes, you may let your residence. However you should take into account the fact that rental will be officially taxed in Turkey.
07. What amount is to be expected when letting my Residence?
As the owner of the property you are free to decide at what amount you wish to let your residence in a certain period; however you should take the market prices into account. The travel industry in Alanya has attractive prices for all-in holidays. So we advise you not to let your residence at an extremely high rental. A rate of euro € 75,- per day in the high season is quite reasonable. On our website under the link -For Rent- you will find a summary of our rentals.
Yearly rental from apartments in € 5.000 and € 7.000 based on an annual occupation of 50% . Rates vary from € 100 a week in the low season to € 500 a week in the high season. Rental also depends on the situation of your residence.
kodal group makes it possible to offer your residence for rent online to thousands of potential tenants who would like to spend their holiday on the Turkish Riviera. Please enquire at our office for more information.
We also get regular requests from people who wish to rent a residence for a longer period of time. For instance for 5 years. This ensures you, as lesser and owner, of proceeds from rental for a longer period of time.
08. What are the fiscal consequences of owning a Residence in Turkey?
In Turkey you pay conveyance tax when buying and selling your residence. This amounts to 3% of the value as mentioned on the certificate of ownership. Conveyance tax is included in our sales-price.
If you have an income from employment or a business in Turkey you must pay the required taxes in Turkey.
09. What is the expected increase in value of Apartments?
The minimum increase in value of our residences is at least 15% a year. This percentage is based on resale executed by investors/owners. Taking into account the relatively low prices of this moment, investing in real-estate in Turkey offers good perspectives.
10. What are the annually recurring expenses?
The following expenses recur annually:
You pay service fees for maintenance and supervision of the complex. Depending on the project these fees vary from € 300 to € 350 a year.
The annual premium for your insurances depends of the values that have to be insured. We are happy to assist you with your superstructure-, inventory and earthquake insurance.
This tax is 0.01% of the sales-price mentioned in your certificate of ownership.
PUBLIC CLEANSING DUTIES
Waste/rubbish tax amounts to € 12,-.
Registering a new connection is priced by the Electricity Co. Transferring a residential connection is € 30.
Consumer-rates per kWh up to 150 kWh are 11 cents.
From 150 kWh rates are 17 cents.
There are no standing charges.
Registering a new connection is set by Local Authority.
Transferring a residential connection is € 30.
11. What is the infrastructure for new house-development projects like?
As soon as the complex is completed it is the responsibility of the municipal council in which the complex is situated to lay out streets according to the zoning-scheme.
12. Will an association of owners be set up?
The building management will see to it that an association of owners is set up shortly after completion of the complex.
13. In what way are the Residences given delivery off?
All our appartments are delivered turn-key.
14. What facilities are there?
Standard features of our complexes are: a large swimming pool (with or without a bar), a gym, a sauna, a conference room, fire-protection and fire-escapes and fire-extinguishers, a garden and garden-lighting. There is a community aerial for reception of foreign channels and an emergency generator in case of a power-cut. The complexes are supervised by one or more caretakers who see to the maintenance and safety of our complexes.
15. What is the climate like on the Turkish Riviera?
Alanya is one of the hottest places in Turkey . It has a sub-tropical climate which makes spending winter there very agreeable. In summer temperatures can rise to over 30 degrees Centigrade, in winter temperatures are around 15 degrees C. July and August are the hottest months.
16. Are there ever earthquakes in Alanya?
No, there aren't. Although the construction of our buildings are earthquake-proof, there are no existing lines of fracture in this area and thus earthquakes are non-existent. For that matter there are strict government rules and legislation to complet the constructing buildings. Moreover there is compulsory insurance for earthquake damage.
17. How is transport organised?
There is a transfer service for all residents and tenants to and from the airport for € 150.
Public transport in Alanya is extremely well-organised by the so-called dolmus buses. These are medium-sized buses which frequently transport passengers to different areas in town and the surroundings of Alanya. You can stop a dolmus at any moment to get on or off.
18. How do I pay for the Residence?
When paying for a residence in Turkey it is usual to pay cash or by banker's order. Transfers from your home bank are very common as well.
19. Should I open a bank-account in Turkey?
We advise you to open a separate bank-account in Turkey for Turkish Lira and for Euros. When purchasing a residence you do not need these accounts immediately, however at a later date it is convenient to have your standing charges automatically paid from your bank-account.