Sound legal advice 'is a wise precaution for buying property in Turkey'
Overseas property investors looking at investing in Turkey have been advised to seek legal advice in order to ensure a smooth purchase that satisfies the local laws and regulations.
Berk Cektir, a lawyer who specialises in foreign investment in the Turkish property market, described the market as "very busy", adding that there are a number of particular issues property buyers should be aware of.
Steps such as obtaining a tax ID number and ensuring that full or semi-reciprocity exists between countries of citizenship and Turkey are cited by Mr Cektir as being important, while buildings must also have certificates for use to have electricity, water and sewage services.
He told the Today's Zaman newspaper: "Check with the estate agent and lawyer so that you are aware of the costs charged by authorities for purchasing a Turkish property."
"Before signing any documents committing you to responsibility and consent, it would be wise to have your documents checked by a legal professional in the field," he concluded.
Turkey has recently introduced a regulated mortgage market that should make the buying process fairer and more transparent, while bringing the country's financial services market more into line with European standards.
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