Property purchase costs in Turkey
Property purchase costs in Turkey
Property purchase costs Turkey
Some of the most inquiries that come to mind about property purchase costs Turkey are Taxes, cost of property transfer, after purchase costs and if these costs are covered in the advertised price of properties. Accordingly, the costs attributed to the purchase process should be clear and transparent before completing the purchase process.
United World provides you with a brief on all related costs and expenses to be paid during the purchase process and transfer of the title deed (Tapu):
Property purchase costs in Turkey during the purchase process and to be paid only once:
- The agreed price of the property as mentioned in the sales contract.
- The amount of 4% of the registered sale price in the title deed (Tapu) as a title deed transfer tax to be paid on the same day of transfer (the buyer usually bares this cost solely).
- Passport translation costs to be paid at the notary public office according to a number of pages (100 – 150 Turkish Lira – TRY).
- Cost of notarized translator into your language (200-300 TRY).
- Cost of notarized expeditor (250-300 TRY).
- Subscription fees into utility services (1,000 TRY for Gas, 900 – 1000 TRY for electric and water).
- Power of attorney fees (optional) – the cost starts at 500 TRY should the buyer requires someone else to receive title deed (Tapu), connect utility services or rent the property on their behalf.
Property purchase costs in Turkey to be paid annually
- Earthquakes and natural disasters insurance costs which vary according to apartment size (start at 50 TRY).
- Property/ building tax and is calculated at 0.1% of the registered sale price in the title deed (Tapu) to be paid at the city municipality according to location. g. the amount of tax to be paid on a 100,000 TRY property is 100 TRY.
Property purchase costs in Turkey to be paid Monthly
- Building or complex service fees which refer to monthly expenses to be paid in lieu of services such as; pool maintenance, elevator maintenance, landscaping, general cleaning, electricity for common areas in the building and expenses for the building watchman if present. These expenses are referred to as “Aidat” and range from 15 TRY and could reach 700 TRY for lavish residential complexes. In the case of average buildings without any amenities, the cost ranges from 15 – 50 TRY while it ranges from 100 – 250 TRY for modest residential complexes.
- Electric, water, and gas (if present) bills to be paid on monthly basis. The cost is comparable to adjacent countries costs and would be paid if there is a consumption only. Vacant apartments do not incur any costs. The average cost of electricity for a 2-bedroom apartment with 4 residents is 100 – 150 TRY per month for normal use, while the average cost of water for the same is 20 – 50 TRY per month for normal use.
Important Notes:
The cost for purchasing property in Turkey is subject to change in the future since these fees are officially issued by the Turkish government except for the costs of the notarized translator and expeditor.
United World has some available property offers that are inclusive of all these costs. i.e., the buyer will only pay the advertised price as a special offer from United World.
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