FAQ – Property Purchase

The most important questions you should know about Property purchase.

Purchasing real estate in Turkey is secure, convenient, fast and affordable. Turkey has been at the center of FDI ( Foreign Direct Investment) for decades. As a result, Turkey presents more fantastic opportunities to its investors in high returns from their investments.

While you may consider Turkey a vacation spot, these beautiful lands can also be the starting point for your new venture. Following the property purchase FAQ – Property Purchase gives you a practical sense of how to complete the buying process quickly.

FAQ - Property Purchase

Can a foreigner buy a house in Turkey?

Foreign persons can buy a house or property in Turkey without any restrictions. Turkish law is a part of the EU-Civil law system; this means the property will be freehold, and further generations could inherit it without any restrictions.

How much is property tax in Turkey?

%4 of the Property's Sales Price should be paid to Turkish Tax authorities as a property purchase tax when buying or selling the Property in Turkey. However, this rate is usually divided equally between the Buyer and the Seller in practice, so each party's tax rate is %2.

What does the title deed mean?

A title deed is a document proving a property's ownership rights. It registers the location, owner, type, and size information of the property. A title deed can be shared by an unlimited number of people in Turkey. All properties are freehold in Turkey. Hence, the family of a property owner inherits the property after the title holder's death. Also, a titleholder can write a will to leave the property to anyone they wish.

What are the expenses while you are purchasing?

There are some extra costs before, during, and after the property purchase. These are; appraisal report fee (real estate valuation), title deed conveyance costs, lawyer expenses, property tax, property and earthquake insurance (DASK), electricity and water connection fees, furnishing your property, and monthly maintenance fees. Related pages; Property Purchase Expenses, Real Estate Taxation in Turkey.

How long does it take to buy a property in Istanbul?

It mainly depends on the investor. When you choose which Project you are going to buy, then the process goes :Put a deposit on your selected unitGet your reservation formSend the total amount or downpayment on the payment dayGet your sales/notary agreementGet an appointment from the title deed Office if you make the payment in cashGet your title deed on appointment day from the government

Which documents do I need to buy property in Turkey?

Initially, to buy a property, you need a passport and local tax number, which we will help you obtain. You will also need the tax number and a utility bill from your home in the country you are living in to open a Turkish bank account. Lastly, two photos measuring 3cm by 4cm are needed.

When can I move to my home after I purchased it?

If you buy a brand-new apartment from a construction company, in most cases, the developers let buyers move in when 50% of the price has been paid or after full payment.

What are the taxes and legal fees?

In Turkey, the VAT rates are set at 1%, 8%, and 18% by law. For purchasing real estate, it generally is 18%. However, if the investor meets the conditions stated by law, it is possible to take advantage of the VAT exemption.According to the Law, the rate of the title deed fee is 4% of the sales price. The Buyer and Seller pay the title deed fee over the sales price. Depending on the deal, title deed fee terms may vary. While some owners require the Buyer to pay the total cost, some ask to share it in half.

Is the valuation report required for property purchase?

Yes. All foreign buyers should take a valuation report for their investment.

How much does the valuation report cost?

For foreign investors, the lawmaker made a valuation report obligated. The price of the valuation report varies according to property type. Your agent will inform you before starting the buying process.

What is the cost of a notary agreement and transaction?

For people who cannot read or write Turkish, a sworn translator is required for the transaction. The translator will explain the terms and details of the title deed records. The translator's fee for oral translation varies depending on the contract details.It is possible to handle the TAPU transaction with an authorized person. However, the person should be authorized specifically to be represented in the TAPU Office with a Power of Attorney (POA). In Turkey, only the Notary Public is empowered to prepare the POA. For the POA, the price varies between 2000₺ to 3000₺Notary agreement costs mostly around 1% of the total amount.

What is the maintenance fee?

Every residential site has specific social facilities and services for homeowners and residents. Rates depend on the place property is located and the size of the house. The maintenance fees start from 200 TL and go up to 1.000 TL.

When can I get my title deed appointment?

The government title deed Office is given appointments in 15 days.

Can I purchase with an installment plan?

Yes, it depends on the Project you will choose. If the Project has an installment plan, you can use this opportunity.

How much tax should I pay from my rental income?

It's yearly 15% of the total income you get.

What is the tax rate when I decided to sell my property?

No need to pay taxes if you sell the real estate five years after you bought it. If you sold it in less than five years, you would have to pay profit tax, calculated according to the difference between the purchase and selling prices. The tax is usually around 20% of the profit you made from the buying and selling process.

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The real estate market in Turkey, especially in Istanbul, has expanded tremendously during the last period and has become the focus of attention by investors worldwide thanks to large profits and side benefits offered, such as the Turkish citizenship investment program. As a result, many people have gone to Turkey intending to invest in real estate, especially with the many advantages obtained from owning and residing in real estate in Turkey. In addition, Turkey is one of the most beautiful countries in the world.

We are working beside you, so our investors can find their dream properties without paying extra costs or commissions.

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