Reselling in Bodrum Turkey

[Oso]

Hi,

Has anybody any experience of re-selling their property in Bodrum? Did you use local agencies? Sell direct? I approached a few agencies to re-sell my 2 bed apartment, they are happy to take it on because it is quite a high spec unit with sea views and 5-star facilities. But at the same time the agents want to charge 10-15% in comission!

Although my property has increased in value by about 50% in 18 months much of my profit will be going to the agents at this sort of cut. Does anyone know of any resell websites where owners can advertise to potential buyers direct thereby avoiding extortionate agency fees.

Much appreciated.

 

[CCOVICH]

Have you tried www.daft.ie or do you wish to sell to someone local?

 

[auto320]

If you can get out of most of the Turkish seaside property at a profit, regardless of the level of fees, take the money and run!

Most of this particular product was sold at inflated prices, with huge commission added on top, so if you can get out at a 50% profit, even with 10%+ fees, you are doing well.

 

[Thedoc]

Oso,
Lots of people here in Turkey advertise their property for private sale (in Turish, sahibinden) trying to avoid paying the standard 3% commission that agents get here from both the seller and buyer.

A very popular website for private property (and other items) is www.sahibinden.com. then look in "emlak, then konut" You would need a grasp of Turkish or have a Turkish friend set it up for you. The service is free and I'm using it at the minute.

You could try some of the other popular property agents, such as Turyap (www.turyap.com.tr) They have an english website version too. I would be surprised if their charging anything like the 10-15% commission you being asked to pay.

I have no connection to Turyap apart from having a property on their books at the minute.

I would certainly agree with Auto320 comments that properties were sold at inflated prices with high commissions.

Hope this helps,pm me if i can be of any help.

 

[setemupjoe]

Whats the tax implications both local and in Ireland ? you have to do the hard part in getting someone to part with their cash before you realize any profit ! I think you should take a profit now if you can before the bombs start going off in bodrum ! AFAIK the Kurdish terrorists/freedom fighters have called off their ceasefire recently .One bomb a few days ago is an ominous development for all the resorts even though it was in the city.

 

[asdfg]

AFAIA you have to pay CGT in Turkey and definitely CGT on 20% on the gain to revenue in Ireland. As there is no DTA between Ireland and Turkey you can't offset the tax paid in Turkey aginst your liability in ireland.

 

[dublinli]

u may want to hold off until the DTA is finalised between Turkey and Ireland, it might be at the end of this year