K
kerrylad
Guest
anybody familiar with this development [broken link removed]
i would be interrested in purchasing for short term investment 3 yrs, for personal use in interm
what taxes would i pay on profits made on this investment?
what other costs are involved in purchasing property in turkey?
how do i check building regulations or reputation of builders involved in this development?
"Foreigners may purchase land and property in Turkey under their own names provided that properties are located in towns - not in villages or rural areas - and outside of military areas.
After an agreed sale, in order to acquire the title of a property, an application has to be made to the local Land Registry Office. The title may be transferred once checks have been made to ensure the property meets all necessary requirements (see above).
i would be interrested in purchasing for short term investment 3 yrs, for personal use in interm
what taxes would i pay on profits made on this investment?
what other costs are involved in purchasing property in turkey?
how do i check building regulations or reputation of builders involved in this development?
"Foreigners may purchase land and property in Turkey under their own names provided that properties are located in towns - not in villages or rural areas - and outside of military areas.
After an agreed sale, in order to acquire the title of a property, an application has to be made to the local Land Registry Office. The title may be transferred once checks have been made to ensure the property meets all necessary requirements (see above).
During the transaction, the proofs or documents concerning the transfer of the full purchase price into Turkey must be presented to the Land Registry Office. Sometimes this process can take a few weeks.
Where the owner of the property is already a foreigner, however, the checks and searches have previously been carried out and the whole procedure can literally take five minutes !!!
A 1.5% duty both for the purchaser and seller must be paid. In addition, there is an annual property tax, collected by the local government at the rate of 0.1% for houses and 0.3% for developed lands.
New properties are exempt from the annual property tax for 5 years. All properties are subject to revaluation every 5 years for tax purposes. The acquired property may be resold and the proceeds of the sale may be transferred out of Turkey. "
Where the owner of the property is already a foreigner, however, the checks and searches have previously been carried out and the whole procedure can literally take five minutes !!!
A 1.5% duty both for the purchaser and seller must be paid. In addition, there is an annual property tax, collected by the local government at the rate of 0.1% for houses and 0.3% for developed lands.
New properties are exempt from the annual property tax for 5 years. All properties are subject to revaluation every 5 years for tax purposes. The acquired property may be resold and the proceeds of the sale may be transferred out of Turkey. "