Property in Turkey

Why its important to get a good Turkish property lawyer

Sunday 19th of June 2011

 

Turkey offers some excellent property investment opportunities and is one of the most popular overseas locations for Brits to buy houses.  However, the buying process in Turkey is different from other countries and so it’s important that you understand how to buy property.

Many people end up withdrawing from property transactions in Turkey due to the complicated legal process.  Property companies and developers are urging the government to change the rules, but until they do, it’s vital that you appoint a good overseas property lawyer when considering buying property in Turkey.

Buyers need permission to buy Property In Turkey

Sales to foreign nationals have to be approved by the authorities in Turkey and this can often mean a significant hold up to the buying process.  Many people simply get def up with the delays and back out of buying property in the country.

Kürşat Tuncel, from Turkish construction company Ağaoğlu İnşaat told the Daily News, “For the sale of every unit, many signatures are required for the authorities.  This does not correlate with Turkey’s aim of attracting more foreign investment.”

For example, Turkish Act 2565 states that any foreign national wanting to buy a property in Turkey must apply in writing to the Turkish authorities.  This is to ensure that a property or a piece of land is not located on a military zone.

In addition, there have been lots of stories of foreign buyers struggling to establish title for their property.  The Fethiye Times reported in 2010 that there remained significant problems for some British buyers trying to obtain a title deed for their Turkish Property.

Nick Marr from leading international property website Homes go Fast said: “The problems regarding obtaining permission to buy in Turkey and establishing title underline the importance of appointing a good quality Turkish Property lawyer to advise you.

“Without the correct representation you could end up waiting months for permission to buy and lose thousands of pounds.”

 

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