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 Turkey | Lime Grove Apartments
Kitchen, Lime Grove, Altinkum Lime Grove, Kitchen, Altinkum, Turkey
Lime Grove, Games Room
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Property Details:
Development Name : Lime Grove Apartments
Property Type : Apartment
Location : Turkey
Area / Region : Altinkum
Bedrooms : 1
Bathrooms : 1
Status : Key Ready
Price : £23,000

Lime Grove is an intimate new development that was recently completed in June 2010, and is located in Altinkum, in Turkey's Didim district, which forms part of the Turkish or Turquoise Riviera. It is ideally located in a prime spot close to the new golf course, as well as the multi-million pound Didim-D Marina.

A south-facing, key-ready development, Lime Grove has one- and two-bedroom apartments as well as three-bedroom penthouse duplexes available, priced at £23,000 (approx. €27,821), £36,000 (approx. €43,546) and £54,000 (approx. €65,320) respectively. Every unit in the complex also has full bathroom suites, fitted kitchens, ceramic tiling, bright and airy interiors and security features like steel front doors. The building also has a basement area, where families and residents can relax and unwind in the games room, enjoying table tennis, table football and pool.

There has never been a better time to invest in Turkish properties, with the Turkish government making headway with initiating massive infrastructure, economic and tourist-industry overhauls. This is to reflect a more globalised society, to attract greater foreign investment and also to support the growing need for more properties and developments to house the immense number of tourists: 25 million annually.

Lime Grove residents will enjoy access to these facilities and features, all finished to a very high standard:

  • Communal games room, containing a pool table, table tennis and table football
  • Communal swimming pool
  • Satellite television and front-door intercom systems
  • Double-glazed mosquito nets for windows
  • Key card-operated electrical systems
  • Local transport systems do regular beach runs
  • 4 km away from the new 18-hole golf course
  • 3-minute walk to the weekly Saturday market
  • 5-minute walk to the centre of Altinkum, with all its restaurants, supermarkets and shops

It's become almost fashionable these days to buy property abroad. Everyone wants to buy that dream home and retire there eventually, or simply want to buy a holiday home that's far removed from the usual everyday humdrum. Some people buying property even move there permanently, immediately, to get a new lease - as it were - on life.

Turkey is quickly becoming one of the most popular places to trade in the old home for the new life. Sunny weather most of the year, warmer climes and a country that waives lots of standard investment tax practices in favour of boosting its investment potential and appeal even further. It's practically a win-win situation. Turkey does have its own regulations regarding property investment, so take a look at the information about the buying process below:

Recommended legalities

Although using a solicitor is not a legal necessity when considering buying in Turkey, we'd like to stress that legal advice is always critically important for undertaking such a big step. Ocaso Properties uses its own team of independent lawyers to give interested parties the best advice to make an informed decision.

General Guide to buying property in Turkey

These are the steps you'll need to take to successfully purchase property in Turkey:

A new build property requires a reservation fee of £2,000, followed by a deposit of anything up to 30%, which needs to be paid 30 days after the reservation fee has cleared. Keep in mind, some developers offer staged payment plans, which can be agreed upon by both you and the developer at the time the purchase is made.

If you appoint a solicitor, the solicitor will perform title checks and draw up a contract, in English, between you and the seller. This contract will - and must - contain all terms regarding the conditions of the purchase, and how the payment plan will proceed. Make sure to give the contract a careful once-over before signing - these are hefty transactions involving a lot of money, and you don't want to be caught in a loop.

To give you additional protection on your investment, until the Title Deed (called tapu in Turkey, which is an Ottoman term implying a permanent lease of state-owned land) is signed, Ocaso Properties can place a charge in the Land Registry, outlining the amount going to the property developer. Although this charge costs 1.11%, it's a sure-fire way to keep the money safe in case the property developer goes bankrupt. To find out more about this charge, contact us, and one of our lawyers will answer any questions you may have.

You will then need to visit the notary office where your passport is getting translated, and where a copy of your passport will be taken. The Notary office works alongside the Aegean army, who do background checks on any foreign nationals prior to any Turkish property sales. This is more for your safety than anything else; these checks are done to make sure you have no criminal background, but also to make sure that your purchase is not located in or close to any military zones.

Again, if the property you are purchasing is a new build property, location checks will also be done to make sure that you’ll have dwelling permission.

Once all checks have been done, your appointed solicitor will carry out some final pre-completion checks. After this, you - or whomever you've appointed Power of Attorney in this matter - will sign a deed of transfer with the vendor at the Land Registry office.

After this has been done, you will be recorded as the official owner of the property, and the title deeds will be issued shortly thereafter.

Remember, all properties for sale in Turkey are termed 'Freehold' (also called 'frank-tenement'; this constitutes ownership of land and everything attached to it, such as structures, as opposed to 'leasehold', which is property that reverts back to an owner when the lease expires).

Other costs associated with your property purchase in Turkey

Expect to add roughly 5-7% of your desired property's selling price to cover the additional costs, e.g. notary, any legal, translation and army application fees. Turkey also levies property purchase tax at 3% - not to worry, this is usually split in half, e.g. 1.5% for you as buyer and 1.5% for the seller. The remaining costs will usually include agency fees, mandatory insurance fees and any utility connections fees. Precise costing will be discussed with you as buyer before you sign any purchasing contract.

Property tax

Because of the rising popularity of Turkish properties, the country charges a minimal 0.3% annual property tax, payable to the local municipality. The property tax is collected from you as owner, and is also subject to annual re-evaluation for standard tax purposes. The final additional cost is a small community tax, which is payable twice per annum for any local services, such as garbage collection and for the upkeep on public areas.



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