Frequently asked questions about buying property in Turkey and living in Turkey
For those wanting to retire to the sun, you can become a Turkish Resident. This is a simple process and you can apply in the first instance for one year, and then renew after this, all this is done at the local Department of Immigration.
Turkey is a pension friendly country, so it is easy to transfer your pension funds into your Turkish bank account for easy access.
You can open a bank account, once you have a tax number most banks in the Turkish resorts have English speaking staff. It is best to set up a sterling and a lira account, as of January 2022 the savings rate for lira accounts is around 17.70% and sterling accounts 1.75%. Most of the banks in Turkey are on the UK guaranteed list.
Turkey has tightened up on mortgages over the last year not wanting to get into the economic position as much of Europe. Currently you can obtain 50% LTV, in some cases 70% LTV can be attained over a maximum ten year period, rates are slightly higher than those in the UK.
You can pay electric bills in Turkey by direct debit through your Turkish bank account, new water meters are on a pay as you go basis, and the cards can be topped up in the town hall or many of the larger supermarket.
Renting your apartment is easy, we have a rental section of our website, and with a presence on several prominent lettings sites let us help make this an easy job for you. Rentals need to be registered with the local authority again we will help you with this.
We have an after sale department at Turkish Connextions were you can use us for as little or as much as you need. Property management, Airport Transfers, Cleaning and Laundry Services, we are always around to help.
Legal and Bank Help
We have contacts with all the local banks for help with savings and mortgages. Use our base of English speaking lawyers to help with wills, probates and conveyancing.
As a resident, you will be entitled to the same care as the Turkish. However there are Expat Insurance companies who can help, ask for more details. The government introduced a plan for expats to pay for private health insurance and this is mandatory for under 65’s. Prices start per person from around 500 TL per year.
This is an affordable form of private medical care valid in the top private hospitals in Turkey at a fraction of the same type of care in the UK.
Contact us today if you have any further questions, we are here to help!