Buyers Guide
  
How to Buy Property?
 

Toroslar will help you with all the formalities of your purchase.

When you have decided to buy your property, an official document is drawn up between the seller and the buyer, concerning the price, details of payment and date of conveyance at the Land Registry Office. Both parties sign the document, which is explained to the foreign buyer/seller by the official translator.

Toroslar will assist you in obtaining a tax identification number and opening a bank account, at a local bank. So transferring money from your own country is easier.

 There is a law in Turkey forbidding the purchase of property on military zones, therefore foreigners wishing to buy properties must apply to the TAPU office for permission from the military. The military investigation process takes approximately 2-3 months.

Once you have received approval from the military authorities you can proceed with the actual transaction.

Legal representatives or buyers go in person to the local land registry office '' tapu dairesi'' for conveyance. They are the only official body whom can transfer the title deeds. (TAPU in Turkish)

 Performed in the presence of a land registry official, the transaction involves the current title deed holder, or their legal representative, giving consent for a new title deed (tapu) to be issued in the buyers name. An interpreter will be present to translate during the entire procedure. By this point the money for the transaction be paid in full.

 As the legal owner, your name and details will now be on the title deed, copies of which is given to you and also kept at the registry office.

 
Why Invest in Turkey
 
Reasons for Investment in Turkey
Turkey with its inevitable admission to the EU, offers a splendid investment opportunity

Unique geographical location
Turkey enjoys a very special location at the crossroads between East and West, overlapping Europe and Asia geographically. The proxy to the new emerging markets in the Middle East and Central Asia creates unique business opportunities.

A strong international investment record
The experience of more than 11,600 (as of end-2005) foreign capital establishments, including 104 of the Fortune Top 5000 companies, confirms Turkey as a predominant investment location.

A fast developing stable economy
The average growth rate for the last 5 years, which is well above many OECD countries, implies a dynamic and growing economy. WTO outputs also state that Turkey is among the most dynamic 20 countries in the world trade. In the last 3 years, Turkey's GDP grew by 24.3%, on a cumulative basis (in real terms). Turkey's real GDP and GNP increased by 8.9% and 9.9% respectively in 2004. This is the highest growth rate in the last four decades and makes Turkey one of the fastest growing economies in the world. Turkey is expected to grow by more than 5% per cent a year in the next 5-to-10 years.

A huge domestic market

 High-skilled, competitive labour

 High quality standards

 The gateway of energy resources

 A state of the art telecommunications network

 Strong ties with Europe and United States

 Living cost is significantly lower than other European countries

 Besides being a vacation resort, it is also suitable for retired people to live all year long with its mild climate, nice atmosphere and reasonable prices.

 A newly built property in Turkey from a reputable developer comes with guarantees.

 The prices in Mediterranean Turkey have gone up by nearly 30 % in the past two years.

 Only 2 - 3 hours of flight time away from most European cities.

 Turkey is an all year round vacation destination.

Turkey can provide excellent infrastructure with respect to hospitals, roads and rail links, phone lines / internet access etc

Foreigners are warmly welcomed and English has become widely spoken.

Foreigners from many countries can now legally own property in many parts of the country, especially around the Mediterranean coast.

 Real estate acquisition of foreign real and legal persons has been regulated in the article 35 of the Land Registry Law numbered 2644 with law numbered 5444 and dated December 12,2005 which was established in the Official Gazette of 26046 numbered and dated January 7,2006 (For further information http://www.tkgm.gov.tr )


 
Turkey Property Investments
 
The number of British citizens who own a property in Turkey has risen to 34,330 by mid-April 2011, July 2003 to mid 2964. On the other hand, the number of properties owned by UK citizens in Turkey rose to 24,135 by mid-April 2011, July 2003 to mid 2420. Here the number of British buyers increased by approximately 1000%. Intense interest from other foreign countries to Turkey Antalya is appreciated by buyers to buy property in April 2011 as the largest of the 10 countries:

 

 Antalya to buy property as April 2011 most of the 10 countries
  Turkey Antalya
  Properties Owner Properties Owner
01. Germany 32,345 25,354 6,310 7,431
02. England 24,135 34,330 4,084 5,970
03. Danmark 4,605 5,633 3,804 4,871
04. Norway 3,408 4,779 3,146 4,464
05. Russia 3,548 3,813 3,002 3,258
06. Nederland 4,754 5,616 2,681 3,772
07. Ireland 5,190 6,905 2,498 3,302
08. Belgium 2,356 3,102 1,181 1,552
09. Sweeden 1,225 1,509 822 1,044
10. Finland 764 985 682 908


 

 
Direct Investments
 

 
UK ranked highest third in terms of paid capital in the list of countries whose real persons or legal entities established FDI (Foreign Direct Investment) companies in Turkey as of June 30, 2003, until when establishing an FDI company was subject to an authorisation.

Between year 1980 and July 2003, the cumulative amount of authorised FDI capital surmounted $ 35 billion.

After July 2003, the FDI rules were relaxed considerably and the following changes occured;

Both Turkish and FDI companies started being treated equally.
Bureuacracy with regard to establishing or acquisition of a company was minimised,
Legislative changes made work permits of foreign personnel more transparent,
The Government committed itself to remove all barriers infront

of FDI companies and to make the investment environment more attractive,
Boosted expectations with regard to Turkey’s full EU membership upon the EU’s decision on starting the negotiations as of October 2005 and fast recovery in Turkish economy in last four years enabled Turkey to draw the attention of the potential investors.

As a result, the total number of FDI companies increased by 78% in the 2.5 year period up to December 2005 whereas in the same period, the number of FDI companies with UK-based capital increased by 126%.

FDI Statistics
  End-June 2003 End 2005 Change %

Total Number of FDI Firms
 		 6584 11694 78 %
Number of FDI firms established by UK citizens or companies 413 932 126 %

Share of UK in total paid FDI capital
 		 8,75 % - -

UK ranks third (after netherlands and Germany) in the list of countries shares in FDI capital in Turkey
  
 
 


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