Taxes and fees due to the purchase of the property in Turkey
Taxes and fees for the purchase of a property in the Turkish Republic are very low when compared to other countries such as Spain or France. We advise all our customers to consider adding 4.5% – 6% to the purchase price of the property to cover all additional expenses and costs to be paid after the sale, while in other countries it can be 10-20% for additional fees and charges.
All property taxes are the same value for Turkish or foreign citizens, and generally can be classified into the following main points:
Title deed tax
Also known as the property purchase tax, is paid only once to the bank in the Turkish government by the Land Registration Office, when you register the house on your behalf and start issuing your property title. The value of this tax is 4% of the estimated value of the property, if you plan to buy from a project under construction, this amount will not be due until the completion of the construction of the project.
Annual Property Tax
Once you purchase a property in Turkey, whether you are a foreigner or a Turkish citizen, you will be charged the annual property tax “EMLAK Vergesi”, which must be paid to the local municipality at the beginning of each year, with a value of 0.002% of the value of the property registered on the title deed.
In Turkey there are two types of property insurance: compulsory and non-compulsory insurance, compulsory insurance consists only of earthquake insurance (or disaster), known as DASK.
This amount must be paid after the property is registered in your name, its value depends on the size of the property and must be renewed every year.
Capital gains tax
The capital gains tax should be paid if the property is sold within the first 5 years from the date of purchase and is calculated at 35% of the difference between the present value of the property and its value at the time of its previous sale. If any property is sold after 5 years from the date of purchase, this tax is exempted by law and is not due to the seller.
Related to water, electricity and gas subscriptions and must be paid only once, in addition to other expenses related to Internet and television and are fully optional. Also you should pay some small monthly fees, for cleaning services, security, and maintenance services provided by the residential complex. This amount is determined by the management of the complex after completion of the project delivery.
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