Costs of buying a property in Turkey
One of the most important questions when purchasing any property in Turkey is the costs of buying a property in Turkey, i.e. the value of taxes, fees, and expenses incurred by you when purchasing this property, and what are the post-purchase expenses? And does the price of the property announced on the official pages of the marketing companies include these fees and expenses? Therefore, the costs of buying a property in Turkey should be clear to you before the purchase process.
We offer you a list of these expenses and fees that you must pay during the process of buying a property and transferring ownership to your name:
The costs of buying a property in Turkey during the purchase process and paid only once:
The price of the property is mentioned and agreed upon in the contract.
4% of the property price announced in the title deed, which is a property transfer tax to be paid at the same time The day of assignment of the title deed from the seller to the buyer hours before the appointment (According to buyer custom is the one who bears the expenses of this tax).
Passport translation fees, issued by a notary public, 1.000-1.500TL (Depending on the number of pages of the passport).
1.000-1.500 Turkish Lira for the fees of a sworn translator responsible for translating the ownership transfer process according to the specified language.
1000-1500 Turkish Lira fees for tracking transactions.
Electricity, water, and gas subscription fees for the buyer's name are up to 12.000TL (Different from city to other).
An amount of 13.900TL Turkish liras corresponding to the real estate expert's report according to the law.
Optional: Power of attorney fees for others if the buyer wishes to authorize another party to receive the title deed on his behalf, or to subscribe to electricity, water, and gas, or to rent the apartment. The cost of this power of attorney starts from approximately 2.500Turkish liras.
After the purchase, you will have to pay annually:
Earthquake insurance for the apartment varies according to the area of the apartment, and the number of floors “starts from 150 Turkish liras”.
Municipality tax, which is calculated at 0.1% of the value of the property registered in the title deed, and it is paid in the municipality building according to each region. Example: If the price of the property registered in the title deed (Tabu) is 100,000 TL, The annual tax is approximately 100 TL.
After the purchase, monthly payments:
Fees for services for the complex or building: It is a monthly expense to be paid for services for the building or complex was chosen by the buyer (stair cleaning, elevator maintenance, gardening, Swimming pool care and cleaning, electricity bills for lighting the complex or building and stairs, building or complex water bills, the guard’s expenses, if exists, the expenses of the person responsible for the building/complex). These expenses are called revenue Aidat, and their value ranges between 300TL per month and can reach morethan 10.000TL per month in high-end complexes.Usually, if the construction is normal without complex services, the value of the proceeds ranges between 250-700TL. In the case of medium housing complexes, it ranges between 300-700 TL. Ultra-luxury complexes exceed the value of 2.500TL.
Electricity, water, and gas bills (if any) for your property. And its prices in Turkey are average, very close to neighboring countries, and they are paid only in case of consumption. And while you're gone and there’s no consumption, there will be no required monthly expense to pay.
Notes:
The costs of buying a property in Turkey can change in the future, especially as it is an official fee issued by the Turkish government.
There are some of our properties for which the advertised price will include all fees and taxes, which means the declared purchase price is the only amount that you have to pay when purchasing the property, as a special offer from our company.