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[ Back | Buying Property in Turkey | Geographies Covered]
Turkey straddles two continents with Europe on one side and Asia on the other. A beautiful country, it is surrounded by the Aegean, Black, Mediterranean and Marmara Seas and is famous for its wonderful bays and golden beaches.
Turkey has something to offer everyone with charming fishing villages, bustling holiday resorts, nightlife, cultural tours and challenging outdoor pursuits. Life in Turkey is laidback and inexpensive with a wonderful climate and people who are engaging, warm and hospitable.
Turkey is most definitely looking to the future and currently undergoing huge changes to allow for full membership of the European Union, expected in 2015. With one of the world’s fastest growing economies, it is also becoming increasingly popular for people looking for a sound property investment.
Turkey has seen explosive growth in foreign property investment over the last 3 years which has led to property and land prices, especially in the coastal regions rising by approximately 200%. With property prices equivalent to that of Spain in the mid 80’s, Turkey is the next property hotspot and now is the time to buy.
There are several reasons for this influx of foreign property buyers. |
| Prices |
Even with the large increases in price over the last few years, Turkey still has some of the lowest property prices in Europe and is great value for money. |
| Positive investment fundamentals |
Turkey was voted:-
- 3rd best destination in the world to buy a property. (A Place in the Sun, Channel 4 television)
- Best destination in the world for affordable, high - earning growth. (A Place in the Sun - Channel 4 television)
- No. 1 place to invest by International Property. (Inside Track the magazine for the professional property investor)
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| Climate |
Coastal Turkey offers an excellent year round climate. Mild winters, gorgeous spring and autumn and hot summers. |
| E.E.C. |
Turkey has applied to become a member of the E.E.C. If membership is granted, property prices will increase further and will do so in anticipation. |
| Infrastructure |
Turkey is investing heavily in transport links and communications. |
| Economy |
Over the last few years the economy has stabilised and Turkey is now one of the 20 most dynamic countries in world trade. |
| Holiday Destination |
Turkey is now a major European holiday destination which provides buyers with an excellent opportunity to make a good rental return on their investment. |
| Local prices |
Prices for food and amenities are still low compared to the rest of Europe. The cost of living is approx 30% to 40% of the rest of Europe. |
| The people |
Renowned for being some of the friendliest and most hospitable people in the world. With a well-established tourism industry, foreign languages are widely spoken. |
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 Bodrum, located within the Aegean coast, is one of the most sophisticated resorts on the Turkish Riviera. Originally a small fishing town, Bodrum has spread out from its historical centre however still retains its atmosphere and a long seafront promenade.
Bodrum is one of Turkey's most popular destinations for buying property, both as residential homes, holiday homes and investment properties. Most investors buy in the towns and villages along the Bodrum peninsula such as Gumbet, Bitez, Ortakent, Turgutreis, Gümüşlük, Yalikavak, Kadikalesi and Akyarlar.
Bodrum is attractive for all the reasons listed above. Bodrum, where the Aegean and the Mediterranean meet, is one of Turkey's loveliest holiday resorts. It has one of the most stunning coastlines with its fantastic beaches and bays, historical sites and perfect climate. Prices are still relatively cheap. Given its close proximity to Bodrum airport and the fact that it is one of Turkey's most popular holiday destinations, properties in Bodrum provide excellent rental returns and capital gains.
For further information on the Aegean Coast and the Bodrum peninsula click here for geographies covered.
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When we have found the perfect property choice for you we will assist you in every step of the process. Buying property in Turkey is not as complicated as you might think. The procedure is often far simpler than in most other European countries. The following is a guide to the property purchase procedure in Turkey.
We will arrange and accompany you to the solicitors office where the sales contract will be drawn up and the necessary legal checks performed.
The solicitor will make sure that the title of the property is checked, that the person who is selling the property actually owns it, whether there are any charges on the property, where applicable that building licences and permissions are in order and that the terms and conditions stipulated by the seller are checked for fairness. If you require, the sales agreement can be translated from Turkish into English by a translator that we can arrange for you. The solicitor, translator, buyer and seller will sign the sale agreements, and each party will receive the sale agreement in Turkish and in English.
The deposit and legal fees will need to be paid at this stage. Deposits are typically approximately 10% and are non-refundable.
The easiest thing to do is to open a bank account early in the process. Payments can then be made from your account once you have transferred money from abroad. Please note that if you are transferring money it typically takes 3–5 working days. You could use travellers cheques or visa card for payment however the commission can be quite high.
A payment plan will be drawn up and provided to you along with receipts for monies paid.
The solicitor will then arrange for the paper work to be sent to the title deeds office for the transfer of the title deeds into your name. The title deeds office will send the passports and title deeds to the local land registry office for the military check. This military check is only to determine that the property is not within a certain kilometre radius from a Turkish military base. Due to the high level of investment in Turkey this can take approximately 8 to 12 weeks.
 Once the title deeds have been authorised, we will inform you and you can proceed with your purchase. This is the time when you usually need to pay the balance due on your property, the buyers tax, earthquake insurance and the water and electricity connection fee. We will inform you of all payments that need to be made at this time as reflected on your payment plan. During the transaction the seller declares that he⁄she has received the full purchase price from the buyer.
The release of the title deeds from the title deeds office is signed in the presence of the notary by the buyer and the seller. You can either attend the signing in person or appoint someone as power of attorney to attend on your behalf. If you would like to give your solicitor in Turkey Power of Attorney to sign for the release of your title deeds from the title deeds office we can take you to the notary office to have this done. This should be done at the time you are in Turkey when you sign the sales agreement.
Please note that giving your solicitor Power of Attorney does not give us or your solicitor any claim over your property. The Turkish property deed “Tapu” will be made out in your name.
In the case of a new build you will receive two tapu's. The first is tapu is the ARSA, which means land. This is issued first and will show the new property owner's name. According to Turkish law as long as the owners name is on the Arsa Tapu then they own whatever is on the land. An application must be made to the local council offices for a living license (the second tapu - OTURMA IZNI). This is done by the property vendor (i.e. the builder), and is only issued once the building has been inspected to comply with the building application. Once this has been granted the tapu will show the words CINS TASHIHI that confirms the classification on the property. In the case of re-sale property the OTURMA IZNI should have already been granted however this must be checked.
If you have arranged for the Power of Attorney to sign property deeds on your behalf we will email ⁄ post a copy to you and keep the originals in our office for you to collect when you are next in Turkey.
We along with the solicitor will then arrange for the new title of the property to be registered with the local council office for property tax purposes.
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| Solicitor's fees ⁄ lawyers fees |
Approx. £500 to £750 |
| Real Estate Agents fees |
3% for buyers. These are standard terms offered by all Turkish Real Estate Agents. |
| Notary charges |
Approx. £100 for power of attorney and translator. |
| Purchase tax |
There is a 1.5% purchase tax. This is calculated on the value of your property. 1.5% is paid by the purchaser and 1.5% paid by the vendor making the total purchase tax 3%. |
| Government tax |
Approx. £100 – £300 depending on location. |
| Property tax |
Approx. 0.5% to 0.6% of the property price p.a. depending on type of property and location. |
| Water & electricity connection fee |
Between £200 – £350 depending on type of the property and location. |
| Property and earthquake insurance |
Approx. £250. This is required by law and depends on property price, size and location. |
| Communal charges (if applicable) |
These vary according to the size and value of the property you purchase. A guideline figure for 2⁄3 bedroom apartment would be between £200 and £400 p.a and would include pool maintenance, garden maintenance. |
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Citizens of countries who have a reciprocity agreement with Turkey can purchase property which includes the following countries. Foreign companies can also acquire real estate in Turkey as long as the reciprocity requirement is met. The only restriction for foreigners is that the property cannot be on military designated land.
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Argentina
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Australia
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Canada
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Russia
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Ukraine
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Austria |
Belgium |
Cyprus |
Greece |
Czech Republic |
Denmark |
Estonia |
Finland |
France |
Germany |
Greece |
Hungary |
Ireland |
Italy |
Latvia |
Luxembourg |
Malta |
The Netherlands |
Poland |
Portugal |
Slovakia |
Slovenia |
Spain |
Sweden |
United Kingdom |
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And more…
In addition companies can acquire real estate through a legal entity established in Turkey provided that such an acquisition is permitted for Turkish citizens.
Please contact us if you would like us to confirm whether you have a right to buy property in Turkey.
Almost all property in Turkey is “Freehold”.
Turkish citizens can arrange a mortgage to finance their purchase. There are currently no mortgages available in Turkey for foreign citizens. The alternative is to re–mortgage or borrow in your home country.
Retaining a lawyer is not required by law in Turkey however to ensure you receive good legal advice we can put you in contact with reputable law firms in Turkey.
The acquired property may be resold and the proceeds of the sale may be transferred out of Turkey. After buying your property there is no time restriction for reselling. You can get it registered in your name and resell it the next day.
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Turkey straddles two continents with Europe on one side and Asia on the other. A beautiful country, it is surrounded by the Aegean, Black, Mediterranean and Marmara Seas.
Turkey is 1,565 km (970 miles) east to west and 550 km (400 miles) north to south at its widest points.
Turkey, where the East and West meet, is a country of great historical significance. It has become a very popular destination for residents and visitors with its wonderful bays and golden beaches, culture, lively nightlife, great shopping and delicious healthy cuisine. It has a wonderful climate with people who are engaging, warm and hospitable. As a result Turkey has also become a popular destination for property investment by Turkish citizens and foreigners.
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| Turkish Flag |
 is called Ay Yildiz in Turkish and means "moon star" |
| Founder |
Mustafa Kemal Atatürk |
| President |
Ahmet Necdet Sezer |
| Prime Minister |
Recep Tayyip Erdoğan |
| Language |
Turkish |
| Currency |
New Turkish Lira |
| Capital |
Ankara |
| Largest city |
Istanbul |
| Population |
70.4m (2006) |
| National Day |
Declaration of Republic, 29 October 29, 1923 |
| Time zone |
GMT + 2 |
| Location |
South-eastern Europe and south-western Asia. That portion of Turkey west of the Bosporus is geographically part of Europe. Turkey borders the Black Sea, between Bulgaria and Georgia, and the Aegean Sea and the Mediterranean Sea, between Greece and Syria. |
| Climate |
Warm⁄hot dry summers with mild winters |
| Economic overview |
Turkey has been able to achieve macro-economic stability under the AKP government and started accession negotiations with the EU on 3 October 2005. The Turkish economy grew by 7.8% in 2002, 5.9% in 2003, 9.9% in 2004 and 5.9% (est) in 2005. The Turkish economy has recovered remarkably quickly from a financial crisis in 2001. Financial policies have had a significant impact on the economy with the Consumer Price Inflation (CPI) falling from 73.2% in January 2002 to 7.5% as of October 2005.
Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The main drivers behind the growth of recent years were the increase in private sector investment and domestic demand. |
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At present we are focusing on the beautiful Aegean Coast along the west and south coast of Turkey and in particular the Bodrum Peninsula within the Aegean.
 The Aegean Sea resort town settled in 1,000 B.C and named Halicarnassus, has one of the seven wonders of the ancient world. The legacies of the Greeks, Romans, Ottomans, and numerous other civilizations have made Turkey a vast outdoor museum. The Aegean shores of Turkey are among the loveliest landscapes in the country. The magnificent coastline, lapped by the clear water of the Aegean Sea, abounds in vast and pristine beaches surrounded by olive groves, rocky crags and pine woods.
Whether you prefer idyllic fishing harbours, popular holiday villages or the remains of ancient civilizations attesting to more than 5,000 years of history, culture and mythology, this region has something to offer everyone.
Here are some highlights starting from north to south of the Aegean.
Momentous battles during World War I, and poignant monument-strewn battlefields today.
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On the Dardanelles, close proximity to Troy and the Gallipoli battlefields.
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Once thought to exist only in legend, the walls of Troy have been excavated and restored and made into a movie.
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Charming seaside hamlet facing lesvos in the shadow of a hilltop Temple to Athena, perfect for a getaway.
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Turkey's third largest city is mostly modern, with good hotels, great seaside restaurants, interesting bazaar, museums and archaeological remains.
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The best-preserved classical city on the Mediterranean which was once the commercial centre of the ancient world. Tradition has it that, after the death of Christ, John brought the Virgin Mary to Ephesus where she is said to have spent her last days in a small house (Meryemana Evi). Now a place of pilgrimage the house has received the official sanction of the Vatican.
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Bustling seaside resort and cruise ship port near Ephesus built along the shores of a glittering bay. The terraced town overlooks one of the most beautiful inlets of the Aegean.
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Hot calcium-laden mineral waters ripple over a cliff to form cascades of gleaming white stone at this spa inland near Denizli.
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Surrounded by the natural beauty of a verdant valley, the area is also rich in culture and history.
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Picturesque resort on two small bays divided by a crusader castle. A favourite yachting port and is known for its stunning coastline along the peninsula.
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Is also known as the Turkish Rivera. The old town with its bustling bazaars and restaurants are well worth a visit. During the day you can head to the beach, go sailing, water skiing and the list goes on. You can also take a boat to the sandy beaches of Cleopatra's Island and Turtle Beach.
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Bodrum, known in ancient times as Halicarnassus, was the birthplace of Heredotus and the site of the tomb of King Mausolus (4th century B.C.), one of the Seven Wonders of the Ancient World. In the harbour, Bodrum Castle, or the medieval castle of St. Peter, is a fine example of 15th–century Crusader architecture. The impressive castle guards the entrance to the dazzling blue bay of Bodrum, where the Aegean and the Mediterranean seas meet. This charming town attracts a diverse population of residents and visitors who stroll along its long, palm–lined waterfront, while elegant yachts crowd the marina.
Not far from town, along the Bodrum peninsula, you can swim in absolutely clear, tide–less, warm seas. This is an area of outstanding natural beauty. Divers, especially, will want to explore the numerous reefs, caves and majestic rock formations in waters that offer up multicoloured sponges of all shapes and sizes and an immense variety of other aquatic life.
 The yearly throng of visitors has encouraged small entrepreneurs to make shopping in Bodrum a delight. Leather goods of all kinds, natural sponges and the local blue glass beads are among the bargains to be found in the friendly little shops along the narrow, white walled streets. Charming boutiques offer jewellery, fashion, kilims, carpets, sandals and embroidery as well as original fashions in soft cotton fabric.
Bodrum has gained the reputation as a centre of the Turkish art community with its friendly, Bohemian atmosphere and many small galleries. This community has encouraged a casual daytime lifestyle and a vibrant nightlife. The evenings in Bodrum are for leisurely dining in one of the many seafood restaurants. Afterwards, superb bars and nightclubs, including the cruising marina nightclub with it glass bottom floor, will keep you going until dawn.
 The sun shine is endless in Bodrum and along the peninsula. After sundown you will enjoy the millions of stars you can count in the sky without a telescope. There is very little humidity and non-stop sunshine from May to October. Average Bodrum monthly temperatures C° (F) are April 21 (70), May 26 (79), June 29 (84), July 33 (91), August 34 (93), Sept 29 (84), Oct 24 (75).
With sea temperatures ranging from 16 to 25 degrees between summer and winter, Bodrum is a great location to live or visit all year round.
There are numerous excursions that can be taken from anywhere along the Bodrum peninsula. We can put you in contact with a local travel company who offer our customers discounted rates.
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is a natural wonder unique in the world formed by water over thousands of years. |
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once the second largest city of all the eastern word and home to St. Paul, St John and refuge for the Virgin Mary after the death of Jesus Christ. |
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Ferry & hydrofoil services can take you to the nearby Greek Islands of Kos and Rhodes. |
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Ferry & hydrofoil services can take you to the nearby resorts of Dalyan, Datça and Marmaris. |
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Have a chance to see another world and discover underwater life. |
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See the beautiful islands and beaches around the Bodrum peninsula by boat. |
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This tour gives you the opportunity to learn more about Turkish village life. |
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Enjoy a local market experience. |
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Attend the only real Turkish shownight in the Bodrum Peninsula. |
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Known as the most incredible off the road adventure around Bodrum. |
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Recommended on your arrival. Includes scrub soap massage, sauna, in door swimming pool, jacuzzi, shock shower and Turkish apple tea. |
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Situated on 40,000 sqm has 24 water slides and day long activities. Facilities include Multi slide, Black Hole, Crazy River, Giant Slide, Twin-Twister Tube, Kamikaze, Spiro Tube, Hydo Tube, Activity Pool, Wave Pool, Jacuzzi. |
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For those wanting to invest in property or visit one of the most beautiful and historical places in the world, look no further than the magnificent Bodrum peninsula.
The Bodrum peninsula is an area of outstanding natural beauty and stunning diversity. The area has 32 islands and islets and 174 km of coastline. The beautiful peninsula attracts visitors world wide with its turquoise seas, tiny coves and beaches and suits investors and visitors interested in a relaxing atmosphere. Yachting, swimming, snorkelling and scuba diving are prime activities and the Bodrum peninsula is famous for its seafood restaurants.
The real mystery and beauty lies deeper than the first glimpse. Around every corner, unique architecture and rampant colour catches the eye. Whilst exploring the different areas of the peninsula, you will recognise the scent of the narcissus, lilac and hyacinth intertwined. This mysterious land which is steeped in history is surprisingly easy to reach, only 20 minutes from Bodrum international airport. The peninsula offers endless choices to the people who have chosen to live there or visit, whether looking for peace and tranquility in a beautiful setting or a more lively lifestyle in one of the bustling resorts such as Bodrum itself, Gumbet or Turgutreis. For the more adventurous, why not join a scuba diving tour and experience the abundance of marine life around the peninsula or discover the sunken ruins and underwater cities.
You will be released from the stress of daily life and enjoy everything you have missed out on whilst you were busy elsewhere. The Bodrum peninsula offers more than just fantastic weather and crystal clear, turquoise seas. The genuine warmth and hospitality of the local people is unrivalled.
Whatever you are looking for, the Bodrum peninsula has something to offer everyone.
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Some of the most stunning beaches can be found on the Southern part of the peninsula which is still within close proximity to Bodrum city centre.
 Gumbet has a long beach curving around a bay. It has a combination of watersports, beach and nightlife to offer. It is one of the more busy and lively resorts along the peninsula and is ideal for young couples, groups of friends and families alike.
 The town of Bitez has retained its unique peaceful character, has a beautiful sand beach (blue flag status), a wide range of restaurants and is famous for its wind surfing and water sports⁄boat trips. Colourful sailboards weave skillfully among the masts of yachts in the bay. On shore you can enjoy quiet walks through the orange and tangerine groves bordering the beach. Bodrum is only 10–15 minutes by car⁄bus.
 Bitez whilst more laid back and peaceful still has a great selection of restaurants and bars. Tennis courts, childrens play area and aquapark are close by. Bitez has the added attraction of being suitable for all ages and is a holiday destination where you can do as much or as little as you want.
Whilst the peak summer times of July and August can be quite hot Bitez has the added benefit of  always having a lovely breeze which is why it is so famous for windsurfing keeping the temperature approximately 3 degrees cooler.
Ortakent has one of the longest stretches of sandy beach in the area and offers an ideal place for relaxing in solitude. Ortakent occupies the next bay from Bitez following the peninsula around to the west. The very large beach is popular with families, although the water rapidly becomes quite deep. There are several beach side cafes providing inexpensive meals and snacks throughout the day. There is also camping space here. The village of Ortakent, which means 'Midtown' straddles the main Bodrum–Turgutreis road.
One of the most beautiful beaches on the Bodrum peninsula is Karaincir, ideal for active days by the sea and relaxed evenings with local villagers.
 Akyarlar enjoys a well-deserved reputation for the fine, powdery sand of its beach. Akyarlar is also an ideal area for wind surfing. The marvellous scenery of the Greek Aegean islands is just in front of you and it is perhaps one of the safest, sandiest beaches for children on the peninsula. There are several cafes and a tiny harbour. Akyarlar has its own tranquil charm.
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Turgutreis, Gümüşlük and Yalikavak, all with excellent beaches, lie on the western side of the peninsula and are ideal for swimming, sunbathing and water sports.
 Gümüşlük Beach is a blue–flag beach. Gümüş is the Turkish word for Silver. Thanks to strictly enforced building prohibitions, the sea front has kept its original appearance and photogenic fishing village charm. This is the ideal spot for peace and quiet, with the added advantage of many excellent fish restaurants along the small waterfront, where you can sit comfortably next to the gently lapping sea. Your feet are touching historical ground here, it is the harbour of ancient Myndos.
In Turgutreis, the birthplace of a great Turkish admiral for whom it is named, you will find a monument  honouring him. You find this little town at the western tip of the peninsula situated in the base of a valley with a backdrop of mountaintops and citrus groves. Turgutreis combines a compact town centre with several long sandy beaches. It is a growing resort that retains a peaceful and relaxed atmosphere.  This part of the coast is also favoured by professional wind surfers as the winds are generally strong. Regular buses connect Turgutreis with Bodrum. Kadikalesi, is next to Turgutreis and offers some of the finest holiday resorts.
In Yalikavak, white washed houses with cascading bougainvillaea line narrow streets. Small cafés and the occasional windmill make it particularly picturesque. Yalikavak has a small, but busy centre and a harbour where visiting yachts and fishing boats moor cheerfully together. The restaurants in the town centre and on the sea front are popular with locals and visitors alike. Here is little beach with many visitors sitting in a waterside cafés watching the world go by. Several buildings have been tastefully restored in the town.
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The north coast of the peninsula covers Torba, Turkbuku, Gölköy and Gundogan. Whilst they can be accessed by road a popular means is to hire a boat and crew to explore the quiet coves, citrus groves and wooded islands. Little windmills, still used to grind grain, crown the surrounding hills covered in olive trees.
 Torba is a modern village located in a sheltered bay on the northern coast of the Bodrum  peninsula. Torba is a favourite resort with the locals, who love swimming in the clear waters and lunching at the restaurants dotted along the shore. The green hills roll down to the bay of isolated sand and pebble beaches. You don't have to explore too far before coming across small villages, monasteries and ancient monuments.
Gölköy offers lovely views with a charming combination of colours. Pretty shorelines covered with woodland offer every tone of green, while the sea is a wide range of blues. The mountains shelter the setting sun under hues of red and yellow. The “blue flag” sea of Gölköy is crystal clear, and is calm all year round. The bay of Gölköy faces north and thus offers nice cooling breezes all summer long. The village of Gölköy is very quiet with the population made up with local people and private property owners.
 Sitting between emerald green mountains and the blue waters of the Aegean, is the small and stylish resort of Türkbükü. Known as the St. Tropez of Turkey, it is immensely elegant and is famous for  its seafood restaurants, its long beach and its quiet, relaxed atmosphere. During the day, visitors sunbathe or take boat trips to the nearby coves and islands in the bay. At night time, they enjoy the best Turkish cuisine in the region at candle–lit open air restaurants all along the seafront.
After a boat trip to Karaada, half an hour from Bodrum, you can bathe in the grotto where warm mineral waters flowing out of the rocks are believed to enhance the complexion.
The Gulf and harbour of Gököva lie north of the Bodrum peninsula.  The translucent and deep waters of the Gulf of Gököva, off the southern shore of the Bodrum peninsula, vary from the darkest blue to the palest turquoise,  and the coastline is thickly wooded in every hue of green. During the evening, the sea reflects the mountains silhouetted against the setting sun, while it shimmers with phosphorescence at night.
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