Buyers Guide  

We will assume that having arrived at the affordable homes in Turkey web site a certain amount of research has already been carried out into the viability of buying a property on the fantastic coastline of Altinkum, Turkey.  It appears that for reasons best known to themselves the majority of Emlaks (estate agents) in Altinkum show little or no interest in selling pre owned and lovingly cared for homes which would leave one to believe there is a far greater profit selling new ones.   Emlaks at present are charging fees of between 3% and 10% of the asking price to both the vendor and buyer, we all understand and appreciate Emlaks have to earn a living, as do most of us but we would suggest that anything up to 20% of say £50k amounts to rather a healthy income, even by U.K standards, lets not forget the cost of living in Turkey is 30% to 50% below that of the rest of the E.U

Buying privately in Turkey is very easy and straight forward, for a lot of us buying a new car would be far more problematic, the Turkish people can actually complete the buying process from each other in a day, for the rest of us it takes a little longer, can you imagine that happening here in Britain? not a hope in Hell

Over recent years there is little doubt the number of properties sold privately in the U.K has increased dramatically, we at affordable homes in Turkey believe that trend will extend to Turkey.   Now let us give you ten excellent reasons why we think it would be a fantastic idea to invest in one of our listed properties :-

  1.   Turkey has just stepped onto the first rung of the E,U. ladder. (we are all very well aware which way the property market will go after full membership is granted)

  2.   Turkey is on the threshold of a property boom. (as was Spain back in the early 80s)

  3.   With its stunning beaches, fabulous climate, Turkey has become a holiday hot spot.

  4.   Excellent value for money, your £ gets you a lot more, with a huge potential for capital growth.

  5.   Turkish summers appear to last far longer than in many other parts of the E,U.

  6.   The population of Turkey is not unlike that of Britain meaning there is a very healthy internal demand for investment properties.

  7.   There has been a huge rise in the number of visitors wanting holiday lets, over 20million people visited Turkey last year.

  8.   Turkey is fast becoming a favorable retirement destination with a cost of living up to 50% less than in the U.K.  its no surprise.

  9.   The capital growth rates in the property market are currently averaging 15% to 20% per year.

10.   You don't have to pay any capital gains taxes after owning your home in the Altinkum sunshine for 5yrs.

The Purchasing Process

  1.   Agree to buy the purchase price.

  2.   Both the vendor and the buyer together meet with the interpretor at the solicitors office.

  3.   A binding contract is then drawn up in both English and Turkish agreeing payment and terms.  It is usual to pay an amount agreeable to both parties as a non returnable holding deposit at this stage, for example £250.  A second payment of 10% of the purchase price is then payable within 28 days. 

  4.   Payment to solicitor and interpretor for services rendered at this stage would be approximately £300-£500.

  5.   If your intention is to grant power of attorney to a nominee a meeting with the notory and your interpretor is necessary.  The cost for this would be approximately £100-£150.

  6.   Millitary permission must be sought in every case by the Land Registry Office.  Virtually every application is granted usually within 12 weeks but this time scale can vary for numerous reasons.

  7.   Upon Millitary approval both vendor and buyer meet with their interpretor at the Land Registry Office where the Tapu (deeds) are exchanged.  A payment of 3% of the sale price is paid to the Land Registry Office as a property transfer tax (1.5% by the vendor; 1.5% by the buyer).

  8.   The remaining 90% of the purchase price is then paid to the vendor either in cash or at the bank by a bank transfer.

  9.   Champagne toast on the patio of your new home in the Turkish sunshine!      CHEERS!