F.A.Q – weareAlanya | Real Estate Investment

F.A.Q


Frequently Asked Questions

– I would like to buy an apartment / house / land / property in Alanya – Turkey. Can I register the property in my name?

Yes, it is possible to register the property in the name of a foreigner. Ownership percentage of 100% at the Real Estate Department “Court of Tapu”.

– What are the prices of apartments?

– The prices of apartments vary depending on the size, age of construction, location and additional services available in the complex, if any, and prices start from $ 40,000 (Forty Thousand US$) and above.

– Are there guarantees that the apartment / house does not have outstanding problems or payments and obtain a “Discharge Patent”?

– The ownership of any real estate shall not be transferred from one person to another only after the extraction of a patent for the real estate and to ensure that the property has no debts or outstanding financial obligations such as: municipality, electricity, water, taxes …

– How can I make sure that the procedures and information mentioned in the title deed “Tapu” are correct??

– The transfer of ownership is carried out only with the presence of a certified interpreter from the Real Estate Department, “Court of Tapu”. The transfer of ownership is very clear in the Real Estate Department, “Court of Tapu” exclusively with the presence of the buyer, seller and translator.

– Can I get a residence permit under an apartment / house?

– Residency is granted to owner/s and direct family members if the property remains in your/their name. Currently; in accordance with the instructions issued in 2016, a two-year renewable stay is granted instead of the one-year residency which was previously in practice.

– Can I register the property in my name and my wife’s name?

– One property can be registered in the name maximum of four persons

– How long does it take to purchase and transfer?

– In case of prior approval of the property from the security authorities, the process takes two days to five working days. In the absence of approval takes a month to two months.

Note: Most of the options available at our company, approvals from Security Authorities were obtained in advance.

– What is the payment mechanism?

– When you choose the property that suits you, a purchase contract is signed between you and the seller and a part of the amount is paid “10% of the agreed price” and the remaining part when you receive the Title Deed.

– How can I transfer money from abroad?

– You need to open a bank account in a Turkish Bank to make the transfer from your home country. The process is very easy. We can assist you to open the account at the Bank of your choice or one of our listed approved banks.

– What are the additional costs to complete the purchase?

– 4% of the value of the property estimated by the Directorate of Tapu as a purchase tax and this is paid only once.

There are other expenses not exceeding 1000 dollars, which include the translation of the buyer’s passport – track transactions – transfer ownership of water meters, electricity and land phone if any.

– What kind of ownership in Turkey? Is the estate inherited in the event of the death of the owner of the property?

– The type of ownership in Turkey is freehold property without any restrictions or conditions. In the case of death, the property is inherited to the legal heirs according to the law: for the male same share as for the female children and half for husband or wife.

To overcome the hassle of future legal procedures. The owner can draw a “Certified Will” through a lawyer and indicate who should inherit the property.

– Why Alanya?

– The Foreign Minister of turkey is a native Alanyan and this provides a huge advantage where Alanya receives continued support from the Government such as; Universities, Hospitals and New Airport ..etc.

– Easy to reach either through the airport of Gazi Pasha, 20 minutes or via Antalya Airport, which is 1:45 (one hour and forty-five minutes).

– Friendly and hospitable people and a mix Turks and foreigners permanently residing in Alanya.

– International protection of the region and free of refugees.

– Away from the line of earthquakes.

– The presence of all Turkish and International services, Schools (Government and Private) and Government and Private Hospitals.

– 50,000 students are expected to be enrolled into Alanya University within the next 5 years.

– A Ski Centre is planned to be built before 2020.

– New Golf Courses are ready to be built.

– Only city in Turkey where continued busy life and not limited to Tourist Season as the case with other tourist cities.

– An economically integrated city throughout the year.

– The cost of living is cheap compared to the rest of the Turkish regions – a distinctively organized city.

What documents are required by banks in case of buying a property with a loan from the bank?

– There are a limited number of banks that grant loans to non-Turks for buying a property in Turkey. Loans generally are for 3, 5, or 10 years for Turks or non-Turks. Loans are personal. The required documents:

– a copy of the passport.

– Copy of the order or purchase contract.

– Income statement showing annual income and tax payment and net income. Providing proof of capability to pay monthly installments. In case of retiree; proof of retirement and monthly or annual pension income.

– Any recent lists in the name of the buyer for the payment of electricity, water or telephone fees from the country where he resides and should be issued in his name.

– Turkish tax number (this number can be issued within one or two hours). The tax number is very important in Turkey and the buyer will need to show it in all transactions including registering the property, opening a bank account, applying for residency, etc. from the transactions.

– All above documents must be either in English or Turkish.

In general, banks generally agree to grant a loan when all the above-mentioned documents are issued, provided that the age of the applicant is not more than 65 years. If exceeding that age limit the rejection of the loan application could take place depending on the banks review of the application.