Energy label for the housing market in Turkey

Comparable to European countries from May 2nd 2017 the energy label for buildings will be mandatory in Turkey as well. The energy label is a measure of the energy  performance of the real estate. An energy-related product means any good which has an impact on energy consumption during use.  The intention of enforcing the Law of Energy label incorporation is to improve the energy saving quality of the housing market as well as  to encourage competition between and ensure a level playing field for construction companies. It will allow consumers to make informed purchasing decisions like the monthly energy costs and the technical quality of living. The environmental benefits here, speaks for itself.

The obligation according to this energy label is implemented in the Energy performance law number 5627 released in 2007. An energy label should enlist details of the energy performance of a building such as energy and insulation properties, energy consumption for heating the house, the efficiency of the heating / cooling system, the level of energy waste and emissions of greenhouse gases.  It is based on standard occupant behaviour and standard climatic conditions.

The energy performance is divided into classifications that are indicated by the letters A to G. Real estates classified with an A label already have taken already many energy saving measures. Real estates classified with a G label still have to take a lot of energy saving measures.

Pursuant to the above Act buildings with planning permission obtained before 01.01.2011 are considered as existing buildings and the buildings where the building permit after 01.01.2011 is obtained as new buildings.

New construction should at least be built to the standards of energy label with class C. Regarding existing buildings, there is no minimum energy class determined by law. An existing building will be divided among the classes A t / m G to be determined on the basis of the type of energy performance of the building.

What does this law mean for the building where you have a home?
Pursuant to this Act, both new and existing buildings, should hold an energy label before 05/02/2017.

What are the consequences of not having an energy label?
A new building that does not meet the energy measures extended to category C will not be eligible for a municipal housing license (Iskan). Existing buildings that do not possess an energy label may expect 20.000TL criminal penalties. Before a building is actually fined the board of the home owners association will be urged to complete the lack of an energy label within 30 days.

How can you obtain the Energy Label? Who is responsible for monitoring them? 
Under government supervision, are certain engineering firms assigned responsibility for issuing an energy label. An energy label is valid from date of issue for 10 years. The companies responsible with issuing an energy can be found at the Ministry of Energy website.( Http://www.eie.gov.tr/verimlilik/y_yetki_b_a_d_sirketler.aspx)

VAT Tax benefit on Property Acquisition

Turkey is in a investment turbulence. Turkey is still an attractive country for investors.

Turkey offers a number of interesting options for those wishing to relocate their business or personal affairs to a safe, warm and friendly country. The Turkish government strives to add to Turkey’s natural and innate attractiveness by creating programs and incentives designed for high net worth individuals and businesses.

Today we see two important developments which could be very attractieve for foregin investors.

• The Housing prices drop up to 30-50%  in value.  
• The legislation for VAT is adapted and foreign investors can buy real estates in Turkey, without VAT.

Is Turkey safe for Tourists, is of course a question that some of you are asking. Due to our previous experiences; the rural beauty and attractive living environment of Turkey, you might as well know that it is not such a bad idea to invest well right now.

Prices in the housing market drop up considerably. New buildings are waiting for new owners. The Euro currency is quite high in value.

The expected investment return, is at least 30% within 3 years. With 16 years experience, we can only emphasize that the current market conditions and outlook losing only has to win the investor nothing.

Succession 2017

There are many things that has to be taken care of when your partner or a loved one suddenly dies. What happens with the shared property in a holiday land as Turkey. Or the bank account?  In this time of sorrow and grief you need to search for balance in life again. Even if you have children or not, after many years you are back on your own.

In principle there are many things that you could deal with yourself. A lawyer is not directly necessarily, but the practical experience on legal and tax issues could come in handy. It is decisively important to use the services of a lawyer if  you deal with a will in heritage issues. Keep in mind that Turkey is a country that still isn't communicating very well in English. With the help of a sworn translator you can come already a very long way, but remember that he or she is not  a legal or tax advisor. Also you don't want to spend your precious time or money to a Turkish ''friend'' or a good neighbour that  well meant is trying to help you. Where do you start then?

The first step in this process is to determine who according to Turkish law are the legal heirs and their shares. Every family situation is different. The Western regulation acknowledges many different types of family situations, like registered partnership or gay marriages. But the Turkish law does not do that. And even this difference in lifestyle can have profound effects in the distribution of the estate in Turkey.

The following tables show only basic information about the share distribution of heritage joined in matrimony.

Sample of a Succession Rule: 

The next step will be to collect all the needed documents in your own country. Such as, certificate of inheritance, apostil stamps,  extracts from the population register, power of attorney and so on. Considering your future plans with the estate, a list with documents will be drawn up for you. The near future plans are most important for us. The likelihood that your plans have changed for the future after death of partner is very high. Most often the property will be sold to third parties or one of the children after death of a partner. Anyway it is convenient to schedule and gather all the documents also for the next steps in the future plans. It saves you time and money.

After that the documents are been gathered, is time to distribute the estate. On base of the foreign documents the Turkish probate court will determine the heirs and their shares in order to issue a certificate of heirs. That is why it is so important that all foreign documents are  translated thoroughly by a sworn translator. After the issuance of the certificate of heirs the administrative aspects has to be fulfilled. Here you have to think about all the actions that has to be done at the tax office and further actions that has to be taken to register the new ownership situation at the Tapu office. All in all a lot of steps that has to be taken......

Even in times of sorrow and grief, we are pleased to advise and assist you.