Tag: bodrum properties
Buyers of Turkish property
Recent findings have shown that around 1 in 6 Turkish properties sold to foreign buyers were bought by Brits in the last two months. The Land Registry Directorate General’s most recent statics highlight that 113,687 properties across Turkey are now owned by foreigners, an increase of 2,487 property sales made on September’s 111,200 figures. Further [...]
Commerce has identified Turkey
The US Department of Commerce has identified Turkey as one of the ten most promising emerging economies, and a recent World Bank study also declared Turkey one of the ten countries most likely to enter the top tier of the world economy. The Turkish economy has shown remarkable performance with its steady growth over the [...]
Bought half of an apartment
We have returned to the best time of the year, as this coming couple of weeks is erguvan season in Istanbul. I strongly recommend you take some time off after work or travel to enjoy the fantastic view of erguvan blossoms along the Bosporus. You can go sightseeing around ?stanbul to see the violet trees [...]
Joint ownership of a property
Living in Beyoglu is nice but noisy. It has its own flavor, and not everyone feels happy about the offerings of Beyoglu. I received an email from a reader who is disturbed by the violence from a bar in Beyoglu. The letter reads as follows: “Your columns dealing with legal issues are always helpful. It [...]
Foreigners buying property in Bodrum
Foreigners buying property in Bodrum must be vigilant during the acquisition process if they want to avoid unexpected eviction notices and long court cases later, experts told participants at a recent meeting. “[Foreigners] pay first and expect the documents and the title deed to arrive later,” said lawyer Şükrü Üstek. “But the title deed never comes. [...]
Turkish tax procedural law
Declaring a lower purchase price and registering the property at less than its real and actual purchase price, although tempting because both parties will pay less in sale/purchase tax, does carry a significant risk. In the case of declaring a lower sales price, the return on a sale will be higher and, thus, the buyer [...]
Property Tax Regulation
As you know about this have written about a form of tax evasion committed by declaring a lower price when purchasing a property in Turkey. The title deed transfer fee is determined according to sales price and, generally, it is a fact that some investors understate the purchase price to pay title deed costs at [...]
Buy and rent at a good price
As we say in Turkish, “Malın var mı derdin var” (If you have property, then you’ve got a problem). Like any other investment, property investment is also subject to regulations, and an investor should consider several factors when investing. A property investment is not always a “buy and sell at a good profit” or “buy [...]
Most successful property investment
Voted Europe’s number 1 city for property by Price Waterhouse Coopers, Istanbul was one of the most active and prosperous global property markets in 2010. And with the latest official data revealing a 28.5% increase in tourist arrivals this January, all eyes remain fixed on the city where east meets west in 2011. According to [...]
Fastest growing tourism destination
The number of foreign tourist arrivals in Turkey is projected to grow at a CAGR of over 10% during 2011-2014, says RNCOS. According to our report “Turkey Tourism Industry Analysis”, Turkey is preparing itself to become the next European golf tourism hotspot with major expansion plans. Presently, Turkey has over a dozen 18-hole golf courses [...]
Legally binding contract
Dear Mr. Çektir, what are the age requirements for a Turkish citizen to enter into a legally binding contract? Are these requirements also valid for employment contracts? Thank you for your e-mail. First, I would like to inform you about provisions regarding contracts under Turkish law, briefly. According to Turkish law, persons who have reached [...]
Title deed problems
In the normal world, people trust the other party when making a contract. In the past, Turkey was a place where you could make a hand shake deal with confidence. There are still some people who count on handshake deals, while there are other people who even trust a written agreement. But what would you [...]
Resorts with deed scams
The good ol’ days saw bright and cheery interviews with local governors published in newspapers. The news usually had the same wording — you could simply change the name of the city and apply it to all resorts in Turkey. “Thousands of overseas investors are buying from Didim, a resort town on Turkey’s Aegean coast. [...]
Bodrum Property Sale
A huge portfolio of Turkey property including Bodrum property can be found at First Property Choice a real estate company offering best deal properties in Turkey, Spain, Italy, and other areas of world. Recently it has observed that property in turkey is gaining popularity among people interested in buying holiday properties or foreign investment properties. [...]
Fraudulent activity regarding deeds Bodrum 2
I landed at Bodrum airport last week for a business trip and to follow up on my own real estate investment. When I wanted to schedule the closing of the transaction in the tapu office the real estate agent came back with a very interesting remark: “Sir, there is no one working in the tapu [...]
