MenuShare

Expenses when buying property in Turkey

Expenses when buying property in Turkey

Title deed (Tapu) transfer fees

In most European countries, the Public Notary Office processes the transference of title deeds. However, in Turkey, the General Directorate of Land Registry and Cadastre carries out the procedure. Both the buyer and seller must be present unless either side has given Power of Attorney.

3% of the declared value of the property must be paid to the title deeds office, as conveyance tax and there is an extra service cost (Döner Sermaye harcı) of 260 Turkish Lira. Additional but small costs, for this process that adds up to 2.000 Turkish Lira include;

• Passport translation
• Sworn translator
• Power of attorney (optional)
• Documents for a tax number
• Documents for opening a bank account
• Photos
• Cadastre tax on application

Lawyer expenses

Lawyers usually charge 1% of the purchase price of the property. The minimum amount is 1.200 Euro + 18% VAT. We can provide a list of several independent lawyers for you to choose from.

Property tax (Emlak vergisi)

Property Tax is paid every year and is 2% in metropolitan municipalities and 1% in non-metropolitan areas. The tax rate of commercial properties is 4% in urban districts and 2% in non-metropolitan areas.

Property and earthquake insurance

Earthquake insurance is compulsory in Turkey and is calculated on a square meterage basis. Risks that may arise from fire, explosion, tsunami or landslide during and after an earthquake are under Mandatory Earthquake Insurance. Fee varies between 150 TL to 250 TL (depends on m2).

Property insurance provides protection against most risks to property, such as fire, theft and some weather damages. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. Property insurance provides financial reimbursement to the owner of structure in such cases.

Maintenance fee (aidat in Turkish)

Anyone buying an apartment in communal buildings will also need to pay a monthly apartment Aidat fee that goes towards communal facilities such as stairwell electricity, swimming pools, garden maintenance or security.

Getting connected: electricity

Deposit value:

241.54 TL (Deposit value is paid in the first subscriptions and transfer transactions.)

Deposit value + new connection of electricity meter:

Appr. 550 TL (once only)

Name transfer of an existing connection (transfer transactions):

Appr. 400 TL (once only)

Getting connected: water

Deposit value:

53.60 TL (Deposit value is paid in the first subscriptions and transfer transactions.)

Deposit value + new connection of water meter:

Appr. 525 TL (once only)

Name transfer of an existing connection (transfer transactions):

Appr. 53.60 TL (once only)

Telephone and nternet

If you have a residency permit, you can get a telephone and internet connection. Turk telecom and TTNET are countrywide, and they hold a majority of the market. For new subscribers, special packages are available, if you sign a two-year contract. Examples include telephone calls, broadband internet and TV satellite packages for 100 Turkish Lira a month. All companies will charge an installation fee.

In FAQ page, we also talk about other questions that buyers of Turkish property often have. Otherwise, contact us via email, telephone or by dropping into one of our local offices, if you would like to speak with our local and knowledgeable sales representatives.

flag flag flag
flag flag flag

Selected For You