Owners of villas in Turkey spared fines
Owners of villas in Turkey spared fines
Owners of holiday homes in Turkey will not be fined for not having full title deeds. The Turkish government had previously threatened to fine foreign owners with incomplete deeds 1,000 Turkish lira.
It had been feared that those with
villas in Turkey would face a substantial fine, reports Overseas Property Professional (OPP). Owners had been warned that if they obtained their
transitional title deed prior to November 28 2007 and failed to convert it to the full deed within two years, they would be fined.
In order to obtain a full deed, property owners in Turkey need a
habitation certificate, which confirms that the building meets agreed specifications. Despite previous assertions to the contrary, a government statement has now confirmed that those without the habitation certificate will not be liable for the fine.
It is hoped that decision will reassure property buyers that they will not be targeted for the failure of developers to meet
planning regulations. "In Turkey there has long been a tradition of building first and getting a permit later, or of not finishing a property according to the agreed plans" explained John Howell from the International Law Partnership. "Often this means that buyers cannot get habitation certificates. The fee for the certificate also acts as a disincentive for the developer to provide it."
The move should also boost buyers' confidence in the
Turkish property market. "The worry that those buyers who cannot obtain a certificate would be fined has caused great panic," Ishik Ahmet from investment agent World Abodes told OPP. "But the fact that the government is not penalising buyers will help to inspire confidence later on."
There is also speculation that the government will announce new measures to tackle the issue of construction without the right permits. Figures from Turkey's Ministry of Public Words and Settlement indicate that approximately 65 per cent of buildings in the country do not comply with its zoning laws.
This story was brought to you by holiday
lettings.co.uk, the UK's No.1 for holiday homes worldwide.
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