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 Turkey | The Pines
The Pines, Akbuk, Turkey The Pines, Akbuk, Turkey The Pines, Akbuk, Turkey, Floorplan
The Pines, Akbuk, Turkey, Siteplan The Pines, Akbuk The Pines, Akbuk, Turkey
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Property Details:
Development Name : The Pines
Property Type : Apartment
Location : Turkey
Area / Region : Akbuk
Bedrooms : 2
Bathrooms : 1
Status : Key ready
Price : £49,000


Akbuk, on the south-west coast of Turkey, is home to properties and developments that rival the luxurious villas and abodes of Spain and Italy.

 

One of these developments, a luxury key-ready complex on an elevation overlooking the Aegean Sea, and nearing completion, is The Pines. This small and select complex offers 2- and 3-bedroom apartments priced between €49,000 and €59,000 (approximately £41,100 and £49,500). This is a superb price for the area, given Akbuk's phenomenal appeal, and The Pines do not disappoint; gorgeous white-washed walls, timber terrace roofs with creeping bougainvillea and wide, airy spaces permeate this development, promising tranquil comforts and relaxed family living.

 

The Pines is located in a wooded area, facing the sea on one side and looking back at the forested hills and mountains in the distance on the other. Due to its location on a slightly higher elevation, a short distance from the sea, the views of the outlying areas around the complex are panoramic and breath-taking. The ground-floor apartments all have their own private garden, while the top-floor units will each have their own private rooftop terraces. All units have large, spacious lounges, while all bathrooms are fully tiled, and kitchens come standard with granite work counters.

 

Because of the relative smallness of this complex, there is a rich element of exclusivity to it, both in terms of investment potential and also for resale purposes. Buying one of these units now will also give the discerning investor a maximised return on long-term capital growth. The resale market too will play a hand when investing in The Pines, as a resale, specifically with properties having two or more bedrooms, is more lucrative in terms of value appreciation in the long run.


The Pines affords numerous features and facilities, both on site and just outside the complex premises:
  • Huge swimming pool and children's pool
  • Seasonal pool bar
  • Landscaped gardens
  • Maintenance services
  • A gated community
  • Communal satellite accessibility
 

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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