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What kinds of services does TERRA offer for occupier clients or investors?

Plots and Projects presentation, real estate purchasing & selling, Property & Rental Management, Portfolio Management, Valuation, Financing, Legal Consulting, Tax Consulting.


What kinds of services does TERRA offer for investors who aim to buy a land/plot?

Land search, purchasing & Feasibility analysis, Land development, Financing, selling, renting, maintenance, Valuation, Legal Consulting, Tax consulting.


What kinds of services does TERRA offer for developers?

Land search, purchasing & Feasibility analysis, Land Development, Concept Development, Architecture & Design management, Financing, Marketing & Sales Management, Building inspection, Property & Rental Management, Legal Consulting, Tax Consulting.


Is the sales contract (sales or pre-sales agreement) legally registered?

Yes, when the total amount of the unit has been fully paid. If you are not allowed to be registered due to Reciprocity Law, you can still purchase a property via establishing a special LLC, for which TERRA supports you establishing. In addition to that, you may buy and sell your property with the sales contract without owning a Title Deed if you are a short term investor.


What are the registration fees?

Notary Fees and some additional municipality fees may apply which will be around 1% of the sales price. Some project developers pay 50% of the notary fees. The Title Deed Registration Fee is 3,3% of the sales price. But some local project developers pay %50 of the notary fees.


What kind of taxes are need to be paid? And how much?

Foreign nationals are not different from Turkish citizens in terms of tax or levies to be charged. There exists:
- Personal Income Tax (based on rental income and capital gains in Turkey). Rental Income Tax is to be paid once a year depending on the rental income and is around 15-30% after certain expense deductions.
- Real Estate Tax is paid once a year depending on the value of the unit declared by the local municipality.
- Real estate acquisition and purchase levy : 3% of the sales price (1,5% from the buyer and 1,5% from the seller). 


What is the property annual increase?

Depends on the project and the location, but in general year-on year capital appreciation is about 20-30%


Can I do internal modification?

Yes, with appropriate approvals.


How much are the maintenance fees?

The Maintenance Fees depend on the project and the flat size. Range is around from 1.- USD/sqm up to 2,50.- USD/sqm per month.


What kind of services are included in the maintenance fees I pay?

Depends on the project, but in general it covers common area landscaping, security, garbage collection, streets, side walks and common area maintenance, satellite system maintenance, water supply/sewage/electricity maintenance, external public lightning, pool maintenance, maintenance of the social activity areas (if available).


Can I sell my property to a third party? How much will I be charged in commission (brokerage)?

Yes. A commission of 5% will be charged by TERRA.


Is there any rent guarantee?

Unfortunately this is not common in Turkish real estate market, but some developers may offer.


Can I easily rent my property?

Definitely, a property can be rented through TERRA at a commission of 10% of the total yearly rental amount.


What are the average rental prices?

Depends on the project, location, flat type and size. Simply inform us your intended project and we will notify you immediately.


Do I own the land on which I purchase a property?

When you purchase an apartment you own the apartment and you have a public share in the land which the building is built on shared with the rest of the owners. The share is based on the ratio of the area of the unit owned to the total area of units in the building.


Is the ownership freehold?

Yes. But for some special cases, for exemple residences or plots situated on forest lands could be owned through leasehold system.


What are the related property ownership laws for foreigners in Turkey?

The Title Deed Law No. 5444 dd. 29 Dec 2005. A new law that will remove the reciprocity rule is currently being discussed in the parliament and expected to be finalized by summer 2012 so all foreigners will easily own/buy/sell a property in Turkey.


Do you offer financing opportunities?

Yes. Although most developers provide in house financing up to 3 years, TERRA has some special agreements with certain well-known local banks which provide mortgage loans up to 10 years at very measurable rates.


What type of mortgages are available?

Mortgage loans are available in TL, USD or EUR. Loan amount is up to 75% of the sales price. Loans are up to 10 years.