The Turkish real estate sector has gained prominence, coming into the limelight for both local and foreign companies; reflecting developments in the economy, such as the decrease in inflation to conceivable levels, the achieving of price stability, and the transition to the New Turkish Lira; and political developments, such as European Union candidacy.

Real estate investment bears similar qualities to direct capital investment. Real Estate Investments have certain characteristics which single them out from other financial investments which reinvigorates tourism, logistics sector and, in particular, the construction sector with its 200 sub-branches.

The advancement along the road to full membership to European Union means Turkey is also undergoing radical changes in legislation, the most significant of which can be considered as: the recent changes in Land Registry Law related to foreigners' acquisitions of real estate in Turkey. The recent amendments in Land Registry Law, Draft Mortgage Law and redrafting of tax laws may have a direct effect on the feasibility of real estate investments in Turkey

 

Life Conditions in TURKEY

Electric Services

Electric bills are issued every two months. Payment is either by automatic bank transfer or at banks specified. Overdue bills are paid at your district Electric Department Central Office. There is a significant charge for overdue bills.

Telephone

The cell phone has become an indispensible part of Turkish life. Getting a cell phone with a regular monthly bill requires co-signing from a Turkish citizen. Turkcel (0532) and Telsim (0542) are of this type. Other numbers are available that have replaceable cards with set amounts of talking time which are easier to acquire.

Traditional phone booths are conveniently located around the city. Phone cards can be purchased from the local vendors or from the PTT (Posta-Telefon-Telegraf) offices.

Home phone service is much more reliable than it used to be and much easier to have installed. You must present a written request to your district's Telephone Department Central Office (Genel Müdürlügü) - not the local PTT office. If your home has a phone line it will be turned on within a few days. If there are no lines you will be given an appointment for installation. It is possible to pay an extra fee for faster service.

Paying the Bills: Bills can be paid through automatic bank transfer or at banks specified. Bills past the due date must be paid at the General Office.


Water

Water bills are issued every three months. They can be paid through automatic bank transfer, at banks specified, or at your district's Water Department General Office.

Cable TV

Cable TV service can be obtained from your district's Telephone Department General Office with a written request for service. Bills are issued monthly and can be paid by automatic bank transfer or at banks specified on the bill. Overdue bills are paid at the telephone office.

At present, English language channels include: CNN, BBC World, BBC, Teleon, Prime, MSNBC, and Eurosport. CINE-5 is a for-pay channel with sporting events, movies, and sitcoms (some English, mostly Turkish). Channel E often has English-language sit-coms and movies in English with written Turkish subtitles.

Natural Gas

Most homes in Turkey have been equipped with natural gas for heating. Sometimes, the cost of gas is included in your monthly general building charges. If your gas is handled separately from the general apartment, your monthly bills are paid through automatic bank transfer or at banks specified on the bill.

Some ovens and bathroom water heating units used LPG gas tubes. These are sold on trucks that visit the neighborhoods, often playing music to advertise their presence.They can also be contacted by phone.

Postal Services

Letters, magazines, and small parcels are delivered to your door by a postman. It is in your best interest to develop a good relationship with your neighborhood postman to encourage him to bring packages to your door and save you a trip to the Paket Posta in town. Also, instruct relatives and friends to send small padded envelope packages whenever possible. It also helps to have packages sent to your work address if possible.


Letters can be mailed from any PTT office. For an extra fee, the letters can be sent express and arrive within 2-3 days. Express mail services like DHL and UPS are also available.

Package Pickup

A yellow slip may arrive with your regular mail. This slip must be taken, along with your passport, to the Small Packet Postage Center near Topkapý. It is possible to send another person in your place with written authorization and a copy of your passport. There is a small charge for customs, and a late charge for packages not picked up within the time specified.