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Know about Tapu, Turkey investors advised

Date : (News Section: Turkey)

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Know about Tapu, Turkey investors advised

Those investing in property in Turkey should know about the Tapu - essentially the title deed.

Unlike in the UK, this is not automatically passed from one owner to another when a property is bought and sold, so an investor or a legal representative will need to visit the deed office to complete the transaction, Colordarcy.com has explained.

A representative who speaks Turkish is best as an interpreter is required for transactions involving foreigners as the document is, as one would expect, written in Turkish.

Managing director of Colordarcy.com Loxley McKenzie noted there are places in Turkey where a Tapu is not available due to foreign ownership restrictions, such as Istanbul, so buyers may look to the parts of the country where they can be obtained.

The effort taken to secure a property in Turkey may be justified by the current trend for prices and rents to rise.

According to the REIDIN.com Turkey residential property price indices for March, the cost of buying a home in the country rose 8.66 per cent year-on-year, while rents were up 7.86 per cent.
 


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Article created on behalf of Propertyshowrooms.com News Desk ()

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