Do you want to buy property in Bodrum Turkey? You can get detail information about buying Property in Turkey for foreigners in this article. Turkey is friendly, beautiful and culturally rich country that offers great value for money. It’s modern enough to be comfortable yet traditional enough to be interesting. In recent years Turkey has become one of the favourite tourist destinations in the world with its immense unspoiled coastline and Mediterranean climate that offers all-year round sunshine.
Property in Turkey is seen as a good future investment considering the fact that Turkey is on the verge of becoming a member of the EU and is one of the fastest growing emerging markets in the world.
Bodrum is a Turkish port town in Muğla Province, in the southwestern Aegean Region of the country. Today, Bodrum is an international center of tourism and yachting. Bodrum is the jewel of the Turkish Riviera and people are drawn by the allure of is its “St Tropez of Turkey” atmosphere. From pretty fishing villages and idyllic secluded bays there is literally something for everyone which allows you to have a relaxing day followed by an exhilarating night. Unwind in the sun, take a stroll around the shops or visit some of the ancient sites and as the sun goes down entertain yourself at one of the many bars and clubs.
Elsewhere on the peninsula Gümbet and Bitez are magnets for those who enjoy windsurfing where the wind and sea are perfect, Ortakent with its sandy beaches is the best choice for walking and Akyarlar is famous for its clear blue sea. There are three other pretty villages close to Bodrum, lying on the western end of the peninsula called Gümüslük, Turgutreis and Yalıkavak all of which are worth a visit.
The holiday season is generally from mid-April to mid-October with July and August being the busiest. However, now that more people are buying property in Turkey the holiday season is all year round.
There are many reasons why people choose to buy property abroad whether for an Investment, a Holiday home, retirement or a lifestyle change.
The process of buying property in Turkey is relatively straight. However it can take a little time as a military clearance process is required that can take between 3 to 6 months. This is because foreigners are not allowed to buy property in the military, strategic and security zones of Turkey. In practice, the military sign-off is a formality – it is only undertaken to ensure that the land on which the property you’re buying stands does not fall within the restricted zone.
Once you have found your home, you must sign a reservation contract, which will hold the property for a limited period, and pay a small holding deposit (usually £2000).
It is customary for buyers to grant POA – Power Of Attorney – to their chosen law firm which gives the lawyer authority to act on your behalf in a legal or business matter. Your lawyer will check the TAPU (title deeds) to ensure the property belongs to the owner, check it complies with building standards and that there are no outstanding charges against the property. You then sign a preliminary contract of purchase, which commits you to the sale and pay a deposit of around 30%.
At the end of the process when you have fully paid for your Turkish property the title deed transfer will take place at the land registry office and you will receive a habitation certificate. This document also includes information regarding construction authorisation, completion date of the construction works, the land registry office records on the property, address and size of the property, specifications of the independent parts in the property, and the owners.
For purchase costs you should budget on six to seven per cent of the purchase price for fees as you will need to pay a deposit, legal fees, taxes and agent’s commission.