Mortgages will become very popular in Turkey soon. Emerging market offering outstanding value for money. Solid capital growth and rental returns are expected to continue. Best bargains can be found just outside of the most popular areas. Propertylanes (www.propertylanes.com) inspected the legal costs involved buying property in Turkey.
The legal costs involved with buying property in Turkey as reasonable as its property prices.. If you need a further information buying property in Turkey and Mortgages available in Turkey please visit www.propertylanes.com
People are buying property in Turkey in order to access "superior" interest rates in the country's banks.
Solicitor's fees
Didim £250
Bodrum £ 300
Fethiye £200
Kusadasi £300
Legal translator's costs
Didim £80
Bodrum £75
Fethiye £60
Kusadasi £75
Notary charges
approximately £60 for power of attorney and translator.
Other Costs
Buyers tax:
Approximately 1.5% to 3% of the sale agreement price depending on location.Government tax: Approximately £100 - £500
Property tax:
Approximately % 0.5 to % 0.6 of property price, paid yearly, depending on type of property and location.
Water & electricity connection fee:
Between £200 - £350 depending on type of the property and location. When purchasing property, the buyer will be responsible for paying the water and
Insurance:
Depends on property price and location.(required by law)If property is bought in a complex: There is an average maintenance charge of £ 170 - £ 750 electricity connection fee.
The Turkish government also has made a concerted effort to boost the country's property market.
Investors will be able to take out a mortgage over a term of up to 30 years from January 2008.
Kind Regards
PRL¦Propertylanes
www.propertylanes.com
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