Construction quality and earthquake law in Turkey

In 1999, a devastating earthquake struck the bay of Izmit. Its affect on construction law continues to today. In 2004 the government passed new legislation requiring all construction after this date to meet modern earthquake proof standards. That’s not to say that all construction before this date was not earthquake proof with the vast majority […]

Taxes in Turkey

Property related taxes are covered in our expenses and costs article. Other taxes in Turkey include income tax and capital gains tax. Income tax law is important for investors, should they wish to lease the property. Income tax bands on income derived from rent are as follows in Turkey. Under 13,000 TL – 15% 13,001 to […]

Visas and residency for Turkey

Currently, tourists can obtain 90 day visas, allowing foreigners to stay for 90 days within a 180 day period. The law now allows owners of Turkish property to have residency status, ensuring you can use your property without restriction. This is called residency. Residency can only be applied for on completed property, where title has […]

Setting up a company in Turkey

Whilst the vast majority of nationalities can own in Turkey, just four nationalities cannot. The loophole to this law is buying through a Turkish established company. The other reason for buying the property in the name of a company is for tax reasons. Setting up a Turkish company must be done through an accountant. Most […]

Financing a property in Turkey

When buying brand new from a developer, most will offer financing. All of our listings provide up to date information on what payment plans are available. These tend to be 2 – 3 years interest free plans, with a deposit ranging from 30-50%. In the case of second hand property, foreigners can now access financing […]

Maintenance fees and annual running costs

Owning any property anywhere in the world will mean running costs. Ownership of an apartment in Turkey means you share this cost with the rest of the owners of the complex. This cost covers the maintenance of the common areas of the complex, e.g. facilities, hallways, carparks, security etc. In general, the more facilities in […]