Some Good News If You’re Considering Property in Turkey …
No matter where you’re buying a house – at home in the UK or overseas – it can sometimes seem there’s quite a bit of paper-pushing going on.
But, if you’re thinking about a new home in Turkey, we’re delighted to be able to report that – at least in the Muğla region where our offices are based – life seems to be about to get a whole lot simpler.
Sea view villa in Turkey
Some Good News If You’re Considering Property in Turkey …
Estate Agents’ Union
For a start, we’re delighted to confirm a new union of estate agents is in the process of being formed, which will be backed by the local authorities and which should offer both buyers and vendors much more clarity when it comes to choosing who to instruct or whose properties to view.
Until now, just about anyone has been able to set themselves up in business as an “emlak” with little or no experience in the trade.
However, in future, those who advertise themselves as estate agents will need to provide proof of the relevant qualifications and training.
Without them, the union will be working with the regional council and be able to intervene, protecting potential customers from the risk of being taken in by “cowboy” firms not sufficiently equipped to assist them properly.
From the point of view of the regional council, the new union will also help to limit the number of individuals operating as estate agents without paying the appropriate tax.
Some Good News If You’re Considering Property in Turkey …
Military Clearance
Meanwhile, a new rule will also be applied, negating the need for military clearance on individual properties in Turkey.
In the past, any home offered for sale to a buyer from overseas had to be checked to ensure it was not too close to any sensitive military installation.
The Muğla deeds office has now confirmed, with immediate effect, any property in an area which has passed the test before will be deemed suitable for sale to an overseas buyer in future. In effect, it means just one clearance could mean the same permission for dozens of homes in the same area, speeding up the process of buying property in Turkey by several weeks.
The result? Mortgages might be easier to obtain as fewer hurdles now exist, homes are not empty for as long during the purchase process and the risk the exchange rate may affect the purchase price is also reduced.
It’s good news for Turkey at a time when the rest of the world is still adjusting to its new administrative structure and the recent introduction of a presidential style of government. The state of emergency has finally been lifted after the attempted coup in 2016 and the nation’s tourism hotspots are busy again after a couple of years of malaise.
Hopefully, though, this move helps to underline the message that overseas buyers also very welcome and. if you have financial assets you’d like to put to work abroad, Turkey remains open for business.
If you need any assistance finding your dream home overseas, please contact us and we will be pleased to help you.
Please see our facebook page to keep up with the latest news.