Wednesday, March 16, 2011

Taxes when selling you Tyrkish holiday home

’How much do I have to pay in taxes when selling my Turkish holiday home?’. This is one of the most common question people often ask. In the following we will sum up the answer.

In the case that you have owned your property for MORE than five years, the profit you earn from the sale will be tax free.
An important note is that the length your ownership is determined from the day you received your deed. When you have paid for the property, signed the contract or moved in, is irrelevant in this case. Only the date on the deed can determine when you became the official owner.

In the case that you have owned your property for LESS than five years, you must pay taxes if the sale brings you any profit. The tax amount will be conducted from the following values (notes this is 2010 values):
Profit up to 8.800 TL, 15 procent
8.801 - 22.000 TL, 20 procent
22.001 - 50.000, 27 procent
More than 50.000 TL, 35 procent
The profit is the balance between the registration value on the deeds issued to the seller and the new buyer.

Be aware of the following aspect
Even though your property is sold with a loss, it is in general not accepted to downsize the registration values on the deed at a sale. This means that even when your property is sold with a financial loss, you will often experience a fictive profit. Therefore it is important that you before deciding on selling make sure that, you have information on what the authorities will demand the registration value to be when the property is sold. This way you can calculate how much you must pay in taxes.

Whether or not your sale brings you a real profit or a fictive profit, it is custom that taxes won’t be paid in Turkey. And oddly enough the authorities will not claim the missing tax payment.
For us Europeans this can seem strange and difficult to understand. Never the less the fact is that most private persons do not pay the tax, and the authorities keep no records on people or claim the money.

When it all comes down to it, it is in a way fair enough since many properties at the moment often will be sold with a loss and therefore no real profit.







This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Thursday, March 10, 2011

News on the airport in Gazipasa/ Alanya

Most people have heard the story about the airport in the city Gazipasa, a 30 minut drive from Alanya. We now have the latest – verified – news on the airport story. (As always we do not take in all the rumours, because usually they are pretty diffuse and not trustworthy).

During a meeting with the hotel owners in Alanya the Prime Minister Recep Tayyip Erdoğan stated that: “The airport in Gazipasa will never be capable of handling planes with a capacity larger than 60-70 passengers. It is a question of security, and the government will not take on that responsibility (editor’s note: in case the government allows bigger planes and an accident where to happen)”.
This statement caused great furry in Alanya, and many people felt that the authorities and government went back on their promise.

The Secretary of Transportation Binali Yıldırım delivered the same message when he the other day visited Alanya. Asked straight up on the airports chances to handle larger planes he answered:
“Impossible. We do not support decisions that can risk people’s lives. To allow bigger planes to land, there must be build a runway 7 km towards the ocean, or we have to remove the mountains, which is impossible! The airport has been categorized as a ’category 3’, which means that both small and medium sized planes have license to land. The authorities and the government have done what they can for the airport in Gazipasa. Now it is up to the airport itself to negotiate with the travel agencies and plane companies”.

In the mean time the following has happend: The Dutch travel agency Neckermann have confirmed that this summer they will open up a route between Holland and Gazipasa. The flight will be operated by the plane company Transavia, and the planes will hold up to 129 passengers. The flights will purely be sold as packages solutions, and Transavia will not be selling “seats only”. This means that all seats will be sold through Neckermann Holland.

All in all this is positive news for the airport in Gazipasa and for Alanya.




This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Wednesday, March 2, 2011

If you are thinking about selling

It is no secret that in these days a lot of people want to sell their property. The reasons may be many:  everything from the desire to try something new, financial difficulties or something else ...
No matter the reason, the sellers must accept, the market as it is these days, and a larger loss when selling their house. The fact that this makes the market very attractive to buyers is another matter entirely, and not the topic of this post.

For how do you sell your property in the best way? As a private seller, you have basically three options.
  1. Try to sell the house yourself.
  2. Have your property for sale at as many brokers as possible.
  3. Make a sole agreement with a single broker who can handle all aspects of the sale.

There is no doubt what we recommend: An agreement with a single broker. It will give the broker a bigger motivation to sell and not at least promoting the home without competing with 17 others brokers, who are also trying to sell your home. Because who wants to put a "for sale" signs up at a house, where the are all ready other signs, or throw money into promoting a specific property, when you risk that another broker sells it the day after?
Putting your house for sale at many brokers at the same time is a little like putting yourself between two chairs. Therefore we recommend to give one agency or broker sole rights to selling your property.

At 2Base Estate we have looked at the homes that are sold around end 2010 start 2011, and how we as a broker had a sole agreement on the property.
In average the homes sold after just 84 days on the market, and in average there was only given 2.73 percent if refusal on the market price.
We see this as proof of that it pays of if you as a seller give a broker sole rights to your property.

When you enter into an agreement with a broker you must ensure that:
  • It is in written.
  • Dwelling price and the broker’s commission is clearly described.
  • A clear written agreement on how long the contract runs.
  • The broker will also present your property to his local network of estate agencies. (Check who belong to this so that you are sure the broker actually has a reach and wide variety of other local contacts).
  • The broker makes sure to take professional pictures of the property.
  • The broker puts a "for sale" sign up in case he finds it to be effective for the sale.

Least but not last we wish you good luck with your sale ...





This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com


Monday, February 21, 2011

Do your homework


The other day I heard the story of a proud and happy property owner, who stood on the balcony of his newly purchased holiday home and expressed his excitement over the quiet location of his new home.
The entusiasme lasted until later in the evening, when the nearby clubs and restaurants turned up the music…

Even though this story unfolded itself on the sunny coast of Costa del Sol, parallels to other countries can easily be drawn. This story teaches you that as a buyer you must do your homework.

Examine the areas where you intend to buy a property.
What type of area is it?
Who lives there, what are the shopping opportunities, entertainment options and what are the pros and cons of the area?
How has the development in there area been within the last 5 years and how can you expect it to develop in the next five?

Ask your broker, ask people you meet in the area, search the Internet and not least: Use common sense to separate wheat from the chaff.

And this does not just apply when you are on the look for the right property in the right area. But it also applies when you are trying to find the right home in the right building.

You must ask around, keep your eyes and ears open and last but not least: Do your homework and go on property hunting as prepared as possible.  Print all the information you find or bring your laptop so you quickly can look something when needed.



This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Tuesday, January 25, 2011

Alanya’s sidewalks with a new look ..

Let me be the first to admit it. Alanya has never been particularly well adapted to people who are walking-impaired. Especially curbs as the size of granite boulders have made it difficult for disabled and wheelchair users to get around in the city.

But now the municipality has decided to do something about it. The center of the town- the area around the post office on the main street - has just been changed.
The high edges are replaced with small ramps.

It is still too early to say how much of the city will be changes, but it is certainly a step in the right direction. Similarly, there are actually a few apartment projects in Alanya which are specially adapted for disabled and wheelchair users.





This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Public transportation to and from Antalya airport

Most people come to Turkey as a tourist. Who have not tried to join what is popularly best known as a package holiday consisting of flight, transfer to a hotel and the possibility of service at the destination,
participation in excursions and much more?

On a package holiday everything is planned and organized. All you have to do is turn up at the airport. When
the plane arrives at the destination travel guides are ready to guide you to the bus, the bus driver
helps you with your luggage and during the trip to the hotel you are even informed about local sights and
how to attend the infamous parrot show together with all your fellow travellers.

And honestly, there is nothing wrong with that. Package holidays have many advantages, and will outlive us
all. Actually it has already outlived most of the hotels several times ...

But thankfully there is an alternative and as you read this blog, you either have one of them or considering to
get one - a holiday apartment ...

This brings freedom. The freedom to turn down the pool bar, communal
morning gymnastics, welcome meetings and participation in the mandatory Turkish Evening, Mr. and Mrs.
Roberson and their 3 noisy kids at the pool.

The price of freedom is that you have to take care of some of the practical stuff yourself. For example
transportation to and from the airport.

And that's the actual topic of this blog post.

I have during my time visited many locations; actual a test told me that I have visited 8 percent of the world.
And it has brought me to a lot of different airports. And none of them were significantly better than the others.
In Spain it is full of tourists with several tons of luggage blocking your way, in America and Australia it takes
several hours to get through customs because everything must be examined down to the smallest detail, and
in Norway the12 minutes with airport express train to the center of Oslo cost more than the actual plane
ticket to Norway.

But one thing all these airports have in common is public transportation to and from the airport.

Apart from Antalya airport ...

Here the taxis rule and for a staggering sum they will take you anywhere you want. But why is there no public
transport to and from Antalya airport?
I have never encountered an official explanation, so here goes the unofficial explanation: Antalya airport is
operated by a commercial company that has leased the rights to operate the airport and use the airport
buildings. This means they must earn money on airport services, and that they also have only a certain
number of years to make profit, because they can not be sure the get contract extended.
And it is probably more profitable to make a deal with taxis, than letting the local buses – that passes
by on the highway and the entrance to the airport in huge numbers - drive into the airport area.

So what are the options? Here are a few tips for all you who have not booked a package tour:

1: Transfer by charter company:
Often airline tickets can be booked through a travel agency. And even if you do not book hotel, you can often
book a transfer to Alanya. This must usually be done before leaving, ask about it when you book your ticket.
You most likely need to take another bus or a taxi from last transfer stop to your apartment.

2: Private transfer:
There are a lot of smaller companies who arranges private pick up. Some companies have specialized in
this, and car rental companies have this as an extra offer. Price wise this is often much cheaper than airport
taxis.
If you are a group travelling, this is usually no more expensive than buying transfer through a charter
company. However make sure that companies are serious and have insurance and that their permits in order.
List of companies that offer private transfer: http://sunsearch.info/turkey/alanya/rental-excursions/

3: The newest
Some of the travel agents - like the local Turkish tour operators - has begun to run mini buses a few times a
day to and from the airport. You can then book a seat in one of these. The risk is that the space in the
minibus/car is quite cramped, and the wait can be long as the companies only run a few times a day.
Try for example the travel agent located on the first floor of the intersection at the post office, PTT, in Alanya.
The first time you try this it is a good idea to do it on the Alanya – airport route (not airport-Alanya), and also
to visit the travel agent in person before ordering.

4: The alternative
In case you have the energy, you can walk the 30 minutes from the arrival terminal and out to the highway.
Here you can stop one of the buses that run between Antalya and Alanya.

5: When everything else goes wrong…
Try talking to the travel guides at the airport. Perhaps they have compassion and can take you along on the
bus if you have not booked a seat in advance. They are really not allowed to do so, but it can never hurt to
ask.
Remember that there are many other companies than the Scandinavian busses to and from Alanya. Most
travel guides will speak German or English.
In case everything fails the only one thing to do is to bite the bullet and choose ...

5: The expensive soloution (ONLY WHEN THERE ARE NO OTHER OPTIONS)
As in the yellow taxi cars ...

Have a safe journey




This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Monday, January 24, 2011

Internet in Alanya

We are all different. Someone can't live without their coffee, others swear to Coca Cola and others to
cigarettes. Young people want loud music, older people quiet music. The Turks prefer driving without
helmets, we Europeans prefer a helmet.
In Scandinavia Denmark is good at soccer, Finland at hockey, Norwegians have cross country skiing
and Sweden ..... (Looong thinking pause) ... bandy. But then again only Swedish people play bandy. So
congratulations.
And in the UK you have the best paparazzis in Europe...

But at some point we are all alike, large or small, black or white. And we all need the Internet. Nobody can
live without it. Not even when on holiday and it is time to relax in your Turkish holiday home.

Even the older generations are writing emails, surf the net and use Skype to stay in touch with family and friends.

There are several ways to access the Internet while you are in Alanya. Here are some ways and
suggestions.

Your building has joint Internet:
Many owner associations have chosen to support a joint ADSL connection, which then either is distributed to
the apartments through a cable to each apartemt or a wireless outdoor network.
To establish a wireless network inside and outside is not the same, and equipment for outdoor wireless
networks are more expensive than the wireless network you might know from your own home.
This costs around $ 1000 per antenna. Taking a building on 5 floors with two apartments to each floor, 1
antenna should be enough. But it also depends on the local conditions. Is the building for instance 10 floors with 4 apartments on each floor, it will probably take 2 outdoor antennas.
And if you have 4 building with 5 floors around a communal pool area 2 to 3 antennas will probably be the
right thing.
When you have a joint ADSL connection you will have to divide the speed with the others, and the more
residents the higher the speed should be chosen.
The more people who use the Internet at the same time, the slower the connection will be. But to call, write,
email or surf, there should be speed enough for everyone. But do not expect to be able to stream live TV
from the web.

Your building has no shared ADSL connection, but would like to have one:
In that case the chairman of the owners' association must be contacted, as it should be a board decision.
The topic may also be brought up at the annual general meeting where a decision regarding wireless internet
can be made.

You want your own ADSL line:
There are two different solutions.
1: Private ADSL line
It requires that you have an open and functioning telephone line in your home, and is connected to the telephone company’s network. After signing up for a phone line, you can create your own ADSL line.
Notice that setting up a phone line requires you to have a residence permit.
As always in Turkey you must sign a bunch of papers, and I can recommend to get help from someone who knows about setting up phone lines and ADSL lines.
In most cases an ADSL line at 2MB will be fast enough, and it costs about 50 TL per month with unlimited
traffic.
This is a good solution if you use your apartment very often, is online a lot and download larger amounts of
data.

2: USB Modem
Another and easier solution is to use a USB modem. With a USB modem you log on to the web through a
mobile conncetion, and it requires no permanent phone line or ADSL line. This solution is more expensive,
but since there is no fixed monthly charges the solution will anyway be a lot cheaper for those who do not
use the web so much, do not download or upload a lot of traffic or simply use their apartment a few weeks a
year.
Such a USB modem can be purchased in the Turkcell shop in the shopping center Alanyum. You must ask
for "Simplus 3G Internet karti".
Prices vary but are roughly as follows:
It costs a round 150 TL in starting fee. Then you can choose if you want 1GB of traffic for about 20 TL (must
be used within one week) or 4 GB for 50 TL (must used within one month).

Finally it is of course possible to visit an Internet cafe. But it's very nice to be able to sit on the balcony while
the sun goes down, take a sip of your Efes beer and write home to friends and family that life is glorious, the sun is shining and everything is going well ...

Long live the Internet





This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Thursday, January 20, 2011

Yes to Turkey

Us who lives here in Turkey on a permanent basis are completely sure: Turkey is a wonderful place where you get a lot of value for your money. Not only in terms of housing, but specially also in relation to climate, food and adventures. 

In the latter part of 2010 it has been a very attractive time to buy real state in Turkey. On a regular basis we see some of the best most attractive homes on the marked for sale for a reasonable price. These homes get sold real fast, many of them even a few weeks after they are put up for sale.

So it is STILL possible to get a good deal down here. But if you want the best of the best, you must be prepared to make a quick decision, otherwise someone else makes it before you ...

And that have probably been the biggest difference between 2010 and 2009. This year the buyers have been here, and they have struck when the price was right. In 2009 we did not see that as much, instead many often waited and waited ...
We expect that 2010 trend will continue into the new year. So 2011 will be filled with great deals as well, but buyers will have to fight more to get the good deals. So as an interested buyer you must be set to strike when the right home presents itself.






This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

What's on in Alanya


As a foreigner it can be hard pick up on all the activities in Alanya. When is the local football team playing, what can you watch at the movies and what about the annual jazz festival?

All these valuable informations are only a click away, just go to www.sunsearch.info to se what’s up in the Alanya area. You can also join Alanya News by Sunsearch on Facebook. Our Facebook page will keep you in a constant loop on all the fun in the Alanya area.
Click here to join and get updated
Are you not Facebook we will off course also bring all the informations to you through the web site sunsearch.info. Go to the web site

By introducing you to Sunsearch, we give you no more excuses for not having an active vacation, a trip to the local cinema, a chance to support the local football team, cheering at a beach volleyball match or a visit to the latest exhibition in the Cultural Center of Alanya.



This blog-post is written by 2Base Estate Agency & My2Base Holiday Homes
Visit us online:
Holiday Homes for sale: www.2base.com
Letting & Services: www.my2base.com
Online Shop: www.my2baseshop.com

Which are the costs for the title deed?

I often get the question: Which are the costs for a title deed?
A very relevant question when buying a real estate in Turkey.

A title deed as such costs nothing, the correct question to ask would be: "What is the cost of registering the title deed?". So let us take look at that.

First and foremost you must paid 3.3 percent of the property value in taxes. In addition, around 300-500 TL in extra costs for various taxes and documents in relation to the application etc.

What is interesting here is primarily the 3.3 percent tax of the registered value since the registered value can differ a lot.
Strictly speaking the registered value should correspond to the contract price. But this is rarely the case. Without going into details, this is due to the fact that of registering the value of the property below actual buying price.
This will save money in taxes and is silently accepted by the Turkish authorities as part of a real estate deal in Turkey.

The good question is who decides the registered value? Well, the authorities decides the amount ...
It is simply the seller of the property who takes his deed to the authorities, shows his deed and finds out which amount he should register. And no one asks what the seller actually sold the property for that amount.
Instead the authorities makes a calculation based on various factors. What the "formula" consists of is unknown, but it includes things like property size, location and the at that time registered value. The new registered value will always be higher than the old one, and it is not acceptable to downsize the value of a property, even if it was sold with a loss.

Confused? Then read on ...


As an example, we recently issued two deeds within the same week in the same building for two different buyers and two different apartments.
The flats were sold from private owner to another private owner, and were identical except for size and floor. The smallest of the apartment had one bedroom and was located on the third floor. Here we had to register 140,000 TL. This meant that the owner had to pay about app. 5,000 TL of the registered value in tax.
Property number two was larger, with two bedrooms and a better location on the fifth
floor. This apartment was registered at 80,000 TL, so here the clients only paid 3,000 TL in tax.

How is that so? Logically the bigger apartment should be more expensive than the one bedroom apartment.
Correct, but in this case the explanation is that the smaller apartment was already registered with a quite high official value. This was because the contractor of the apartment had to register a high value, since the authorities demanded this at that time for tax purposes. The two bedroom apartment was registered at a time where the contractor could register a lower value.

And when properties are sold from their first owners, the authorities as described above, look at the initial registered value and determines the new value on behalf of that ...
In this case it results in two very different and values when two homes in the same complex are compared.
Very illogical ....

Are you now even more confused? I understand and even for us who work with these issues everyday, it is complex and we must keep the tongue straight to navigate.

As a buyer you must always be aware of how much the deed costs can be in the end. Therefore it is
important that you only do business with professionals who can guide through all this, and explain the complexity.
In case you are not aware of this part of the deal, you might get yourself a bad surprise when the cost of the deed must be paid.
The only way to check the costs is through personal contact with the authorities, which must be a specific inquiry on the deed.

Make sure to do that, it can protect you against unpleasant surprises.