The principle
of Global Realty is working on lands
and limited number of areas in order
to do its best in the realty business.
These areas are those in Istanbul expected
to gain great value within the future
3-4 years.
Our company
also working in some sea side
places and villas in the south (Kusadasi,
Didim, Cesme,Akbuk, Davutlar ) by a
special Eagen Region representetive.
We also can follow the orders in some
other cities like Antalya, Alanya, Bodrum,
Marmaris and all other cities. We also
have strong contacts and experience
for Azerbaijan, Kazakhstan, Kyrgyzstan,
Batumi, and Crimea which we can make
any prosecution.
Our sales
representatives are generally selected
among people living in such areas of
realties for 24 hours, and have extensive
knowledge and experience on such areas,
where we carry out our sales and purchasing
operations.
Our company
also can provide lands suitable for
your needs in Istanbul and anywhere
in Turkey by getting preliminary orders.
We also
have personnel specialized in providing
realties for your needs in the Turkic
republics, CIS counties and Balkan countries.
Likewise, we provide all kinds of legal,
infrastructural, consultancy and sales
services for people who want to come
to Turkey and buy realties.
We can
furnish our clients with regular information
on the recent status of their realties,
if they wish, and assist them in re-selling
the realties that they have bought.
We are
aware of the importance of knowledge
and information in realty purchasing.
Our clients can contact us via at least
1 mobile phone number on a 7/24 basis
given on our website.
Our clients
are furnished with information on the
development and parceling status of
the land that they intend to buy and
on the restrictions stated on the land
registration.
We will
try to answer your questions, helping
with paperwork, translations, bank ac3ounts,
tax code, utilities and the hundreds
of little things that crop up to make
sure that you are completely happy in
buying the Turkey property that you
saw for sale with us.
If you decide to visit
Turkey for we can arrange ac3ommodation
for you to make an appointment to view
the properties while making a good touristic
survey to our country.
On our
website we have not listed all properties
because of dynamic character of this
market but we try to give as much information
as well as lots of photographs to help
to give as much choice as possible depending
on your possibilities.
We are
aware that selling property to foreign
citizens is a very complicated and serious
work and we are completely ready to
carry it. We will be happy to be your
connection point in turkey in real estate
market.
We currently
work on a large portfolio of lands located
in the area of Taşoluk, Haraççı, Bolluca,
Boğazköy, Tayakadın, Terkos, Karaburun,
Yeniköy, Sazlıbozna and Hadımköy close
to the Arnavutköy district of the borough
of Gaziosmanpaşa- ISTANBUL. Our
company also working in some sea
side places and villas in the south
(Kusadasi, Didim, Cesme,Akbuk, Davutlar
) by a special Eagen Region representetive.
We also can follow the orders in some
other cities like Antalya, Alanya, Bodrum,
Marmaris and all other cities. We also
have strong contacts and experience
for Azerbaijan, Kazakhstan, Kyrgyzstan,
Batumi, and Crimea which we can make
any prosecution.
Presently,
because of lack of transportation facilities
to the area, it has a value much lower
than it would normally deserve. Professionals
agree that the area will gain value
extremely rapidly in case the said transportation
problem is solved.
The 6-lane road, which will completely
solve the problem of transportation
to the land, is not a dream anymore,
but an ongoing project, half of which
is already completed.
The part of the rapid tram line to Habibler
has been completed, and the rest of
it is expected to be completed soon.
In any case, it is expected that the
main artery of a third bridge that might
be built on the Bosporus will pass through
the area and most probably through the
Tayakadın district. And this will end
the transportation problem.
The Karaburun and Yeniköy districts
have the most beautiful and attractive
Black Sea coastal line, and have been
gaining value everyday.
The Taşoluk district, having the largest
land of the area, has always avoided
unplanned settlements, and is the location
of many villa cities.
The project of TOKİ, which will consist
of 4300 residences in low buildings,
is going to be commenced soon.
The area with all these advantages is
also located very close to the forest,
which limits housing and settlement.
Finally, we are very much acquainted
with this area. We are able to furnish
you with lots of additional information
on specific lands on the phone or during
face-to-face conversations.
Turkey is
a paradise of sun, sea, mountains, and most
places in Turkey have an ideal climate that
is perfect for relaxing on sandy beaches
or enjoying the tranquility of mountains
and lakes. Although Turkey is a land full of historic
treasures from 13 successive civilizations
spanning 10,000 years it is also a modern
country, with good communications, transport
and an expanding stable economy but still
with a low cost of living and a very low
crime rate.
Add in the investment in airports, roads,
golf courses, marinas, and the possibility
of joining the EEC, and you can understand
why people from around the world are investing
in property in Turkey. Year on year property
prices have been rising but prices for buying
property in Turkey are still considerably
lower than buying property for sale in other
major tourist areas such as Spain and France
making Turkey an ideal overseas property
investment.
The Turkish Lira has devalued by approximately
16% during May 2006 so those with major currency
investments in the lira, or anyone in the process
of arranging a currency exchange to buy their
Turkish property in Turkish lira, is well advised
to think carefully before acting. Good news
for potential purchasers, not so for savers
of lira.
A
foreign national cannot purchase more than
25,000m² (6 acres) of land (constructed
or not) in Turkey without special consent
from the Turkish Council of Ministers.
foreign national
cannot own more than 5/1000 of land in any
designated province.
The principles
governing purchase of property by foreign (i.e.
non-Turkish) nationals in
Turkey is governed by the
1934 Property Act (Law Nr. 2644 dated
22 November 1934). The legal frame
work set in 1934 has at first been modified
through sections of a by-law with the Law Nr.
4916 dated
3 July
2003. This law is predicated on a
reciprocity clause; citizens of countries whose
governments allow Turkish nationals to purchase
real estate in their country, will be allowed
to purchase real estate in Turkey.
However, following
steps taken by Turkey's main opposition party
CHP, the modifications were declared
void by the
Turkish Constitution(al court) on
26 April
2005, to enter into effect as of
27 July 2005 and the purchase of
real estate by foreign nationals was suspended
until a modified law was enacted on January
7th 2006. Law Nr. 5444, now enacted, instead
of being a by-law modifying various paragraphs
of the 1934 Property Act, is a fully stated
legal text (still on the basis of a modification
of the 1934 Act). (in
Turkish). This current law is retrospective
in application to
26 July
2005 and is largely the same as the
law of
3 July
2003, with the following notable
amendments:
1 A foreign national cannot purchase more than
25,000m² (6 acres) of land (constructed or not)
in Turkey without special consent from the Turkish
Council of Ministers.
2 foreign national cannot own more than 5/1000
of land in any designated province.
It should be noted that all overseas nationals
are subject to a clearance by the Turkish military
authorities before being allowed to proceed
with any purchase. This is to establish that
the land/property is not in a militarily sensitive
area, and that the individual is considered
as suitable to own real estate in Turkey. The
process of designating land suitable for overseas
purchasers is soon to be given over to the Land
Registry Offices but will be based on information
supplied by the military.
The Council of Ministers will determine, in
the three months following the promulgation
of the law, those areas where reserves on purchase
due to considerations stemming from irrigation,
energy, agriculture, mining, history, religion
and culture issues and for preservation of natural
flora and fauna are put in effect. Property
acquired through inheritance is not subject
to the limitations and reserves stated above.
After the
annulment of the
2003 Law in July
2005, during the 6-month period of
legal uncertainty, the market (focused on foreign
buyers) came to a standstill, however, local
Land Registry Offices continued to process applications
in anticipation of the new law.
Recent news on overseas buyers from the
First Economic Counsellor of the Turkish Embassy
in London is as follows (unedited):
Taken as
a whole, during the 69-year period starting
in 1934 with the enactment of the Property Law
until the first modifications of July 2003,
37342 parcels of property had been acquired
by non-Turkish legal entities (companies) or
private individuals in Turkey. It is to be noted
that 2400 of these were
Syrian nationals, who themselves
had remained as such but whose properties had
become part of the territory of Turkey with
the adhesion of the
Republic of Hatay to Turkey in
1939, the whole transitional proceedings
that took place having been counted, for the
purposes of statistics, as re-acquisitions by
these Syrians.
The 2-year duration
of the validity of the old law (July 2003-July
2005) gave some interesting insights on foreign
national property buying trends in Turkey both
for property market players and for official
bodies.
During the two years for which the July 2003
modification had remained valid, 15842 parcels
of property (2931 among these being unbuilt
land lots) have been acquired by non-Turkish
legal or private persons in Turkey. The purchasers
constituted a total of 18959 legal or private
owners or co-owners from a total of 58 different
countries. In the forefront came
British nationals (8625 persons acquiring
6333 parcels), who were followed by
Germans (3482 persons for 3210 parcels),
with
Dutch nationals,
Danes,
Norwegians,
Greeks,
Irish nationals,
Swedes and
Belgians respectively occupying the
next places. (Reuters
İstanbul - in Turkish)
It is also the case that during this 2-year
period that the districts that most favoured
by foreign buyers are
Alanya,
Fethiye,
Didim,
Bodrum,
Kuşadası along the coastline, as
well as
Ürgüp in
Cappadocia. Alanya is a particularly
preferred location for Germans and
Scandinavians, while the British
purchases are at the highest concentration in
Fethiye and Didim
Reuters İstanbul - in Turkish. Some
of these towns have come to include sizable
proportions of seasonal or full-time inhabitants
made up of foreign homeowners. These homeowners
already display a marked tendency to set up
associations among themselves to promote their
specific areas of interests such as the translation
of key texts into their respective languages,
contacts with officials, cultural and religious
activities such as church-building and to provide
guidance to newer purchasers
The following*is
a list of countries which have full reciprocal
agreements with Turkey on buying property. You
should check with your country's embassy for
precise details ( we know that there are some
conditions applied to some of the countries
in the main list below) general terms, if you are a citizen of one of these countries,
you can own a Turkish property:
Andorra, Argentina, Australia, Austria, Bahamas,
Bangladesh, Barbados, Belgium, Belize, Benin,
Bolivia, Bosnia-Herzegovina, Botswana, Brazil,
Cameroon, Canada, Central African Republic,
Chile, Colombia, Costa Rica, Cote D'Ivoire,
Croatia, Cyprus (northern), Denmark, Dominican
Republic, Ecuador, El Salvador, Estonia, Finland,
France, Gabon, Germany, Ghana, Grenada, Guatemala,
Guinea, Guyana, Haiti, Honduras, Hungary, Ireland,
Israel, Italy, Jamaica, Japan, Latvia, Liechtenstein,
Lithuania, Luxembourg, Malawi, Malaysia, Mali,
Malta, Mauritius, Mexico, Monaco, Moritania,
Mozambique, Netherlands, New Zealand, Nicaragua,
Nigeria, Norway, Panama, Paraguay, Peru, Philippines,
Poland, Portugal, San Marino, Senegal, Serbia
and Montenegro, Singapore, Somalia, South Africa,
South Korea, Spain, Sri Lanka, Swaziland, Sweden,Tanzania,
United Kingdom , Uruguay, USA, Venezuela. In addition, citizens of the following
countries may buy properties but not land:
Azerbaijan, Bahrain, Belarus, Chad, China, Egypt,
Georgia, Iran, Jordan, Kazakhstan, Kenya, Kyrgyzstan,
Macedonia, Moldova, Morocco, Namibia, Romania,
Russian Federation, Slovenia, Tajikistan, Turkmenistan,
Uganda, Ukraine, Uzbekistan.