Not only is the investment marketplace progressively growing, lifestyle purchases are obtaining appeal from many European buyers.
Buying a property for lifestyle or investment follows a very straight forward process, where the Turkish authorities has imposed additional motivators to further bring buyers. These motivators include the temporary lowering of title deed fees, together with the absence of capital gains taxes on properties re sold after a certain time frame. If you are looking turkish real estate you are at right place.
Interest in Turkey’s sought after emerging real estate market has developed significantly with various advantages including pre-EU property costs, powerful capital growth, economic stability and perfect buy-to-let market opportunities.
When the property to be purchased has been chosen, the payment of a holding deposit will be needed. The holding deposit may change between developers or agents, yet generally amounts to around EUR3,000 or £2,000. The holding deposit will remove the property from sales listings while the legal paperwork and due diligence is performed.
Variations in payment schedules will occur between resale and off-plan properties, as frequently resale properties will require the buyer to proceed right into the completion stage once the legal due diligence has been carried out. Once the due diligence has returned a satisfactory result for moving ahead with the sale, a booking deposit will soon be paid. The booking deposit may also change between developments and will range between approximately 10% and 40% of the purchase price. Element of the legal fees might also be required at the booking deposit stage.