Inspection Trip

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WHY INVEST IN TURKEY?

In 2003 Turkey has liberalized its real estate market for foreign buyers. So far more than 45.000 estates in Turkey have been purchased by foreigners. In 2006, it is expected that more than 15.000 foreigners will buy in Turkey. British, Irish, Germans, Danish and Dutch are at the top of the list of nations interested in buying in Turkey.
One of the main reasons why investors consider Turkey is that prices in Turkey are still well below the EU average. When Turkey joins European Union, property prices will most likely reach near European levels. The prices in Turkey are similar to the prices in Spain 10 years ago. The potential for returns on investment in Turkey’s coastal resorts are enormous. With many excellent facilities, English widely spoken and the liberalization of the rules allowing foreigners to own Turkish real estate, this boom is likely to run for many more years.
Let’s have a look at some facts:
 
Turkey was voted the 3rd best destination in the world to buy property.
(A Place in the Sun - Channel 4 television)
* Turkey was voted the best destination in the world for affordable, high earning growth. (A Place in the Sun - Channel 4 television)
* Turkey was voted the number one place to invest by International Property. (Inside Track Magazine)
* Turkey welcomed 20 million visitors in 2005. It is the 3rd most popular holiday destination in Europe.
* In 2007 Turkish tourism is set to grow by 15%, making Turkey a great place for rental income.
* Land prices have doubled in the most popular areas during 2005 and property prices have risen by 20% to 40% in the last year alone.
* Current prices of properties with comparative build quality, are similar to what they were in Spain in 1996.

If you want to spend holidays, live or work in Turkey . . .

 
Very competitive prices
* At least 300 sunny days per year
* Excellent Blue Flag beaches
* Amazing and unspoiled nature
* Low cost of living
* Warm and hospitable hosts
* Environment full of culture and history
* Foreign investment-friendly tax regime
* Customs union with EU since 1996
* Double taxation treaties with 39 countries
* Candidacy for the European Union membership, with ongoing negotiation
* Very liberal investment climate, including free international movement of capital
* Large, inexpensive pool of skilled labour
* Modern infrastructure
* The World Trade Organization considers Turkey to be one of the most dynamic economies today

 

PURCHASING A PROPERTY THROUGH MNA CONSTRUCTION

 

Buying a property in Turkey is a lot easier than in many other European countries. In order for a foreign national to acquire the title of the property, an application has to be submitted to ensure it is not located too near to a Turkish military base, something of a formality for our developments in Altinkum.  All properties sold by MNA Construction are purchased on a Freehold basis.

Once you have decided on your place in the sun, an independent solicitor will draw up a sales contract detailing the agreed terms and conditions of the purchase. We will then take you to the solicitor’s office and a legal translator will be present at all stages to represent your interests.  The solicitor will make sure the title of the property is checked, confirm that the seller is the registered owner of the property, and that we are free to transfer ownership to you.  They will also ensure the information on the sales contract corresponds to the information on the deed.  Once agreed, the buyer, seller, solicitor and translator will sign the sales contract in both English and Turkish.

If a client opts to give their Turkish solicitor Power of Attorney so that they can sign for the release of the Title Deeds (TAPU) in their absence, then you will be taken to the Notary Public to draw up the Power of Attorney documentation.  The legal translator will be present at all times to ensure the procedure is fully understood. This usually takes a maximum of 45 minutes.  Giving your solicitor Power of Attorney does not give him or us any claim over your property - your name and picture will still appear on the Title Deeds.

It normally takes approximately 3 months for the application to transfer the Title Deeds to be approved by the Land Registry Office (including security and property location check).  We will advise you as soon as this happens, together with the balance of monies due, and as soon as all outstanding payments have been made we will arrange to accompany you or your solicitor (Power of Attorney) to the Title Deeds Office.  Final formalities can then be completed quickly and your stamped documentation should be provided to you the same day. 

 

INSPECTION TRIPS

 

You may already know where you want to buy but nothing beats getting to know an area and seeing a selection of our properties for yourself. You can arrange an inspection trip with us free.  It will be our pleasure to show you around the resorts and to accompany you on a tour of the properties we have for sale. Our inspection trips are simple to arrange and typically last 3 – 7 nights.  If you have already organized your travel, we can meet you during your stay. Please contact us ( info@mnahomes.com ) or one of our UK representatives for further details (UK: 0871 711 9077).

A GUIDE TO PURCHASE COSTS

 

MNA Construction will provide you with a Payment Plan at the Sales Contract stage so that you are fully aware of what monies are due together with payment dates.  The following is a guide to the costs you can typically expect to pay in addition to the purchase price.  We will ensure you are provided with receipts for all payments made through us.

Solicitors Fees                              £ 250 - £ 350

Legal Translator                             £ 50

Notary Charge (if required)              £ 100

Title Deed Application                    £ 240

Buying & Selling Tax                      £ 500 - £ 1250

Annual Property Tax                       £ 60 - £ 100

Water/Electric Connection              £ 350 - £ 450

Annual Earthquake Insurance          £ 40 - £ 100  

Annual Property Maintenance          £ 350 - £ 450

 

OUR SERVICES

 

MNA Construction has a dedicated maintenance company at Aegean Pine and Apollo Villages who will do all they can to assist you. The maintenance company offers 24 hour/365 day uninterrupted service.  Their staff are friendly, English speaking, and specialists in their field providing you with instant solutions.  As well as being responsible for the general upkeep of the complex, the following are some additional services they can provide:

Airport Transfers: To and from Bodrum and Izmir airports.

Insurance: Household Contents Insurance, Buildings Insurance and Earthquake Insurance.

Bank Accounts: Assistance with opening a Turkish bank account.

Furnishing: Introduction to local suppliers who can assist you with furniture purchases, curtains, and other soft furnishings

 

PROPERTY MANAGEMENT

 

Checking Your Property

Your property in Turkey will be regularly checked and controlled by our staff to find out if there is any problem and once a problem is detected, you will be informed as soon as possible and we take the necessary caution after your instruction. So for any possible problem that your house may encounter with when you are away will be professionally handled by our company. As we mentioned at the beginning of our booklet, we are aiming at your satisfaction with our ongoing after-sales services and these services include the ones described below :

Bill payment : We will regularly check your bills for water, electric and telephone and pay them for you and when you are back to Turkey, you will do these payments to us against the bills submitted to you with their dates and fees on. So when you are back to Turkey, you will not need to waste time with these bills.

Protection of your property : Your property will be checked by our patrolling staff everyday and in case of any problem, you will be informed immediately.

Security systems : A comprehensive security system with lots of cameras will be installed to your house and when you turn the system on, your house will be monitored for 24 hours by our professional security system and in case of any problem, the police will be right there on that time. For further and detailed information, see our security system booklets.

Special organizations : Any kind of organization, such as anniversary, birthday party or special meal and etc. we will be ready to prepare everything that you may need. Just let us know and than feel free.

Cleaning of your property : Both when you are here or away, our cleaning team will be at your disposal at any time. To get rid of the hassle of cleaning and wasting your time on cleaning, let us do this for you. Even if you let us know one day before your arrival, this will be enough to find your home nice and clean when you get to Turkey.

Gardening : After you buy your property, you do not need to waste any time on your garden to get the garden in your dreams. Just let us know what kind of a garden you want and consider it done in only one day. Also, on your demand, a full irrigation system can be installed in your garden.

 

GETTING THERE

From April-September there are numerous charter airlines competing for direct flights from the UK to both Izmir and bodrum airports  Turkish Airlines and British Airlines offers year round daily flights from the UK to these airports .

 

WHAT IS THE WEATHER LIKE IN TURKEY?


Mediterranean and Aegean coasts enjoy hot and long summers and relatively mild winters; the Black Sea coast is hot and humid in summer but it is not as long as south coasts. It gets cold and quite wet in winter. The north west of Turkey including Istanbul can get very hot in summer and cold in winters.
 

WHAT IS THE POLITICAL AND ECONOMIC SITUATION IN TURKEY?

Turkey is showing an excellent economic performance. This is a reflection of the political stability of the country as a whole. The country's progress in recent years has been remarkable. The benefits of the government's commitment to its economic program are clearly visible. Much has been achieved since the current reform program was started. The challenge now is to build on those achievements and exploit Turkey's potential as a rapidly-growing and increasingly sophisticated economy. Turkey's system of government is based on free and democratic elections.
 

WHAT  DOCUMENTS ARE REQUIRED TO PURCHASE A PROPERTY IN TURKEY?  

Buyer’s passport(s), which need to be copied and translated into Turkish, as well as passport sized photographs. The public notary’s office works in conjunction with the Land Registry Office and the Aegean Army. The translated documents will be checked by the Army to ensure there is no record of criminal intent or activity against the Turkish state.
 

WHAT  ARE THE RENTAL PROSPECTS LIKE?  

The rental prospect are very good. The main season starts in April and finishes in October, but lower-rate winter rents are not uncommon. You may rent your house from a real estate agent or from our maintenance company.

HOW DO THE LOCAL PEOPLE TREAT FOREIGNERS WHO PURCHASE IN TURKEY?

Turkish people are extremely hospitable and friendly. They will welcome foreigners and will be delight to help them. Turkey is a family orientated society and children are welcome almost everywhere.

IS TURKEY SAFE? 

Turkey is a very safe country and has one of the lowest crime rates in Europe.

WHAT  IS THE LOCAL HEALTHCARE LIKE?


The standard is generally very good. All foreigners have to pay for medical treatment and there are reciprocal private health plans available from the UK/ROI which will be accepted in the private hospitals. Foreigners can purchase health plans in Turkey up to the age of 55 years.

WHAT ARE THE LOCAL SCHOOLS AND COLLEGES LIKE?

 
As a resident, you can send your children to either public or private schools. Both of them offer a good standard of education. There are also private schools with native English speaking teachers. These typically cater pupils from all over the world.

HOW HIGH ARE THE GENERAL COST OF LIVING AND WHAT IS EATING OUT LIKE?

Fresh food is a great value for money. You’ll find most items much cheaper than in the UK, with the exception of perhaps fuel.
Turkey has very rich and diverse cuisine and prices are at least  lower than in Britain. Turkey is a Muslim country, but pork can still be found in some restaurants and shops. There is a wide choice of other meats, seafood and vegetables. As well as Turkish cuisine, you will be able to sample English, Italian and French food.

IF I MOVE TO TURKEY, CAN I TAKE MY DOG/CAT WITH ME?

Yes you can. You must first obtain a ‘pet passport’ and vets documents. For more information you can call UK - The Pets Travel Scheme on 08702 411710. In the ROI please call The Animal Health and Welfare Division on 01 607 2827.

CAN I WORK IN TURKEY?

Yes, you can, but you must obtain a work permit.

 

 

CALL NOW   UK: 020 7193 5097