How to Sell or Rent Your Turkish Property ?
When moving house , you would most proberbly be selling your current house in Turkey , especially when you require the money to buy a new property in Turkey. There are occasions when it makes financial sense to keep your old property . If you rent your old property out rather then sell it , you can end up with a valuable asset that provides a regular income .
When does renting out the old house make sense ?
If you are just using this house as a holiday home temporarily , it is of great benefit to let out the property in Turkey making you extra income and can assist in paying any extra costs involded with this property on a yearly basis .
What do you think will happen with property prices in Turkey ?
A critical question . Property prices in Turkey are always on the increase due to demand and supply of the population. You can gain with capital gains on an investment property which is bought whilst under the construction stage . You can use this property in Turkey to rent it out or to sell on at a higher value than you purchased it for . Although if you sell within the first five years of ownership there is a Property Tax to pay .
There are now Mortgages avaliable to foreign buyers a like in Turkey , although you need to check the interest rates , as they could be much higher than in your national country . Can you afford these payments on a ready property aboard ? There are many checks which are carried out on both the house and yourself before the house loan can be accepted .
Installment payment options
Installment payment options are a great way to finance a new property in Turkey , as there are new projects under way which cater for the investment client and those who are looking for ways to pay for a property without having to use a bank loan . Companies are offering payment installments on these houses in Turkey with a downpayment deposit on the house the rest can be paid over 24 – 48 months for example .
How much will it cost to live in the new property ?
You need to take into account these factors also , when the property is clear to purchase then there are extra costs involded which are a 4% property purchase Tax on all houses in Turkey this is paid on the date and at the land register office where you will get your new properties Title deed .
The property most proberly will need furnishing , if you intend to let it out then basic simple furniture is the best .
On going payments are Monthly bills will include electric and water plus if the property is on a residence complex communal maintance fees . Yearly council tax.