Property maintenance taxes in Turkey

When purchasing property in Turkey, you are required to pay a purchase tax, which is 3% of the value of home ownership. You also pay for the services of a state translator in the amount of 70 euros, t.to. for foreigners, the presence of an interpreter is mandatory.

Within 180 euros, you will receive a power of attorney to receive a “Certificate of Ownership”, certified by a notary.

If you have a desire to invite a lawyer to accompany the transaction, then you will have to pay for his services very expensively – about 1200 euros without VAT.

You should also be aware of some one-time costs that you will have to pay after you become the legal owner of the purchased home. In new buildings – this is a payment for registration and connection of water supply – about 60 euros, electricity – 100 euros, telephone connection – 25 euros.

Housing costs from the secondary market will cost you much less. For re-registration of electricity and water systems in the name of a new landlord, you will need to pay 30 euros. It may also be necessary to repair diesel power plants, if any, but this can be done after the completion of the transaction.

Even in Turkey, it is necessary to insure your property against an earthquake. The average amount of insurance is 35 euros, the final amount depends on the value of the object indicated in the TAPU.

In addition, you will have to pay bills such as property tax annually – once a year – 0.3-0.4% of the value of home ownership, which is indicated in TAPU. The insurance of the premises (at the request of the homeowner) will cost 85-200 euros.

In addition, you need to pay for services for maintenance and maintenance of housing monthly. This is worth, depending on the complex of services provided, from 10 to 125 euros. The payment for electricity and water should also be added here, in accordance with the readings of the counters. Kilowatt-hour electricity costs 0.13 euros in Turkey, and a cubic meter of water-0.1 euros.

Prospects for the Turkish real estate market.

Turkey’s economy practically did not hurt the financial world crisis. This happened, first of all, because in Turkey mortgage lending has been developed relatively little. Housing is being built here constantly.

Despite various rumors, real estate prices in Turkey do not fall, and do not rise high, t.e. remain quite stable. The exception is some construction companies that slightly raise housing prices.

So, buying a home in Turkey, you will receive a European service at the lowest price compared to other European countries. You will save a lot, even if you buy a house or a holiday cottage.

Good luck with your purchase!