selling property in turkey

FAQs : SELLING PROPERTY IN TURKEY

Selling property in Turkey or have land in Turkey to sale? Let Oceanwide Properties represent you and let’s get it sold!

See below a drop down list of frequently asked questions related to selling property in Turkey. Simply click on the question of interest and the answer will be revealed below. Click again to minimize.

Since 2005 Oceanwide Properties have helped clients and developers in selling property in Turkey. Our sound marketing and client support services are specially devised to locate the ideal buyer. We offer three differing marketing packages to suit vendor preferences. Two are free, one is paid. If you would like to know more about our vendor services, please CONTACT US.

Does Capital Gains Tax apply when selling my property in Turkey?

In some cases yes. If you are intending on selling your property in Turkey within five years of purchasing it, you are liable to pay capital gains tax in Turkey. If you purchased your property over 5 years ago you will be exempt.

The capital gains fee required is worked out as a percentage of the profit you made on the property, in other words the difference between the figure declared on your title deed when you brought the property and the sales (agreed) price that will be declared at the TAPU (Land Registry) Office on completion of the sale.

 

What fees are involved in selling my Turkish property?

Fees normally incurred when selling your Turkish property:

  • Estate Agency Fee. Three percent of the agreed sales price is normally required to be paid to the estate agency for their services on sale of the property. This fee can vary in some cases if previously agreed in writing.
  • Capital Gains Tax. This is required if selling within five years of initial purchase. It is a variable charge. Please see previous question.
  • Sales Transfer Fee. A Stamp Duty of 4% (plus some additional admin fees) is required on sale/purchase of a property. In Turkish Law, the deed transfer fee should be split equally by both buyer and seller, in practice it normally falls to the buyer to pay the full 4% on purchase. The responsibility for this charge should be made clear and noted in the terms of sale and during negotiations.

What documents do I need to sell my property in Turkey?

To sell a property in Turkey a number of documents is required by the Land Registry Office so that the transfer documents can be arranged and the sale processed. The vendor / seller will need to supply the following:

  • Passport and a Notarised Passport Translation. Your original passport (not a copy) will need to be translated into Turkish and stamped at the Notary. This, along with the passport will be required by the Land Registry office for the sale of the property in Turkeyto proceed.
  • Turkish Tax Number. You will be asked for this number – you should already have a tax number if you were the owners of a Turkish property.
  • 2 x Passport Photos. Required for the Land Registry records.
  • Original Tapu (Title Deeds). 
  • Declaration. A signed declaration giving full ownership rights to the new owner.

Please Note: Those who sell their property in Turkey within 5 years of purchase may be expected to pay capital Gains Tax. This tax is calculated as a percentage of the profit made between the cost price declared on your Tapu, and the sales price that will be declared at the land registry at the time of title deed transfer.

Can I gift my Turkish property to a family member?

It is possible to gift your property to a partner, spouse or third party for free. This can take time and does require all parties to be present – those listed as owners on the Tapu (or their POAs) as well the the person to be gifted the home.

You first have to inform the Land Registry Office of your intentions to give away full rights to your property to another party. You will then need to pay the legal fees involved, normally 7% of property value as registered at the Land Registry office (N.B: the figure the TAPU office will give you as to the properties worth in Turkish Lira is often far below the figure it is worth on the open market). You will then need to supply all the normal documents required for selling a property – the TAPU, Passport and Translation, Declaration, 2 x Passport Photos and your tax number.

How do Oceanwide Properties market your property?

Thinking of selling your property in Turkey? Since 2005 we have helped clients sell and secure their Turkish properties. Our sound stable of marketing and client support services are specially devised to locate your ideal buyer.

Based on your chosen sales package we work to ensure your home will be as visible as it can be across our offices, website, media, through our partner agents, overseas property portals, UK property exhibitions and in search engines.

We match and send full details of your property by email to any potential buyers and highlight it to partner agents. Fully interactive to request further details/call and to email a friend.

Please contact us for further information on our marketing options.

*Disclaimer: Legalities and processes in Turkey are constantly on the change. Although Oceanwide Properties do their best to ensure that all information on our site is correct, we are not registered financial or legal advisors. If you have any concerns, it is always best to check with an official advisor or authority.