Turkish Property Questions and Answers:
Spot Blue has established itself as a trusted authority in the UK property market, particularly renowned for its profound knowledge and expertise in Turkish real estate and associated fields. Over the years, Spot Blue has garnered a sterling reputation for its unwavering commitment to providing comprehensive guidance and support to individuals interested in purchasing property in Turkey.
The company’s director, Julian Walker previously showcased Spot Blue’s expertise by participating as an esteemed panelist at the A Place in the Sun seminar, which specifically delved into the nuances of the Turkish property market. This recognition underscores Spot Blue’s standing as a go-to resource for those navigating the complexities of property acquisition in Turkey.
Spot Blue’s reputation for excellence is further solidified by its track record of success and client satisfaction. With a wealth of experience and a deep understanding of the Turkish property landscape, Spot Blue continues to be the preferred choice for individuals seeking reliable and insightful advice on all aspects of Turkish real estate.
Can I Make an Offer on a Turkish Property?
Certainly. Making an offer on a property in Turkey follows the standard procedure seen in global property markets – it essentially revolves around a willing buyer and a willing seller. Spot Blue acts as the intermediary, presenting all reasonable offers to the seller, whether they are developers, builders, or private sellers. Offers must be formalized in writing and sent via email to Spot Blue for transmission to the seller. If the offer is made without a prior property viewing, certain conditions may apply, such as the timeframe for arranging a viewing. Typically, a deposit, whether refundable or non-refundable, is lodged with an independent lawyer who holds it until the property is viewed. It’s worth noting that offers can only be entertained if the buyer is in a position to complete the purchase. Offers with extended timelines may be less favourable as they increase the risk of losing the sale to another buyer during the interim period.
Do Spot Blue Arrange Turkish Property Viewing Trips?
Yes, Spot Blue organises Turkish property viewing trips throughout the year, subject to flight availability. Interested individuals can contact Spot Blue at +44 (0)20 8339 6036 to schedule their trip and explore various regions of Turkey.
What Documents Do I Need to Buy a Property in Turkey?
To purchase a property in Turkey, the following documents are required:
Four passport-sized photos for each buyer on the Title Deed.
A utility bill to verify your address in the UK or your country of residence for the purpose of opening a bank account.
Access to funds ranging from £1,200 to £3,600 for the deposit, depending on the property sale terms.
Passport.
A Turkish tax number to open a Turkish bank account. Spot Blue assists all buyers with this process in Turkey.
Do You Have Other Properties for Sale Besides Those Shown on the Spot Blue Website?
Yes, Spot Blue regularly receives new property listings from various sellers, including developers, private resellers, landowners, and business owners. These properties undergo careful vetting before being added to Spot Blue’s portfolio and website. Listings may change as circumstances evolve, such as when properties are sold or contracts are signed. Additionally, Spot Blue ensures that its property listings are regularly updated on its website. While some properties may be listed by multiple agents, Spot Blue strives to provide a diverse selection of options to clients. Interested buyers are encouraged to contact Spot Blue for the latest offerings.
What Are the Property Buying Costs on Turkish Properties?
The costs associated with buying a property in Turkey vary depending on the region and specific terms of the deal. Here is a general overview of the minimum charges and costs involved:
Independent Legal Fees: From £600 (Turkey-based, higher if UK-based).
Notary Costs (including Power of Attorney): From £240.
Property Purchase Tax/Stamp Duty: 4% of the declared and registered purchase price.
Military Approval Cost: From £150 per purchaser.
Land Registry Fee: £150.
Utility Transfer Fees: From £180 per utility.
Additionally, if the property is a resale, there is typically a 2-3% agency fee on the purchase price.
What Are the Maintenance Charges for a Property in Turkey?
Maintenance fees for Turkish properties vary depending on factors such as the type of property and the facilities offered. For example, a studio apartment with shared amenities may have lower maintenance fees compared to a detached villa with private facilities on a larger complex. Generally, maintenance fees range from about £36 to £60 per month on average across all areas. Spot Blue representatives in Turkey provide detailed information on maintenance charges and additional costs for each property.
What Is the Cost of Living in Turkey?
Living costs in Turkey offer significant savings compared to European countries. Here’s a breakdown of various expenses:
Weekly Market Shopping: Fresh produce and essentials from local markets offer substantial savings. For instance, a weekly fruit and veg shop for two costs around £13.46.
Supermarket Essentials: A weekly essentials shop costs approximately £60, with options for well-known brands available at a premium.
Meat: Prices vary, with items such as chicken breasts costing around £2.50 for a pack of four.
Bottled Water: A 2L bottle costs from £1.54 for delivery.
Dining Out: Traditional Turkish meals for two start from £9.60 for lunch and £38.40 for an evening meal at an upmarket restaurant.
Alcohol: Prices range from £2.30 for local beers to £24.00 for champagne.
Cafés and Bars: A Nescafé coffee starts from £1.15, while cocktails start from £4.24.
Overall, the cost of living in Turkey offers excellent value for money, affording residents a comfortable lifestyle at a fraction of the cost compared to European countries.
What Are the Running Costs of Living in Turkey?
Once you’ve settled in Turkey, there are various ongoing expenses to consider:
Maintenance Charges: Vary depending on the property type and facilities offered.
Utility Bills: Electricity bills range from £19.20 to £38.40 per month, while water bills start from £6.72.
Gas: Cooking gas costs around £16.34 per bottle, which lasts approximately six to nine months.
Health Insurance: Private health insurance costs from £192 per year for individuals under 65.
Internet: Wi-Fi services start from £15 per month for unlimited access.
Mobile Phone: Smartphone prices start from £150, with monthly packages available from £9.60.
Council Tax and Refuse Tax: Annual charges start from £100 and £60, respectively, for apartments. (This is calculated by square metre and it also depends on the location and how many people are named on the title deed)
Building Insurance: From £57.68 per year.
Earthquake Insurance (DASK): Compulsory insurance costs from £55 per year for apartments.
Car Expenses: Cars can be expensive to buy but typically have lower annual insurance and tax costs compared to the UK.
Petrol and Diesel: Prices range from £1.20 to £1.53 per litre.
Relocating to Turkey offers a cost-effective option for a comfortable lifestyle amidst stunning surroundings and friendly communities.
All of the prices above are approximate as of 2024. They will increase and will vary depending on many factors such currency fluctuations, the location in Turkey, the time of year and inflation.
Spot Blue, a prominent figure in the UK property market, offers invaluable insights into purchasing property in Turkey. Prospective buyers can confidently make offers on Turkish properties through Spot Blue, following standard global market practices. Spot Blue also facilitates property viewing trips throughout the year, ensuring clients can explore various regions of Turkey. Essential documents required for property purchase include passport-sized photos, utility bills, and a Turkish tax number. Spot Blue’s diverse portfolio constantly evolves, with new properties regularly added and updated listings ensuring up-to-date information. Property buying costs vary but typically include legal fees, taxes, and utility transfer fees. Maintenance charges for Turkish properties depend on the type and amenities, while the cost of living in Turkey offers substantial savings compared to European countries. Ongoing expenses include utility bills, insurance, and transportation costs, making Turkey an attractive destination for those seeking a cost-effective yet comfortable lifestyle.
Why not call us to find out how to view properties in Turkey yourself? Telephone: +44 (0) 208 339 6036 or you can email us
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