Expenses When Buying Property in Turkey

Unlike other countries, expenses when buying a property in Turkey are low, and foreigners will be pleasantly surprised at how much money they can keep in their pocket. As always though, it is wise to know before you start the process of the additional expenses that will arise from legal procedures, as well as tax and service fees. The following is what you can expect to pay.

Appraisal Report Fee

Appraisal report showing the value of the property is obligatory before the title deed transfer in sales done to foreigners. The cost of the SPK validated appraisal report is approximately 1.000-1.500 TL depending on the city and features of the property. Buyers pay this fee directly to the SPK validated expert. Completion time of valuation report lasts 2 - 3 days. (Read more about the Appraisal report here)

Title Deed (Tapu) Transfer Fees

The General Directorate of Land Registry and Cadastre carries out the conveyance procedure. Both the buyer and seller must be present unless either side has given Power of Attorney on the final signature.

3% of the declared value of the property must be paid to the title deeds office, as conveyance tax. Buyer pays Title Deed Conveyance tax as customs. There are several costs and taxes roughly 2.500 Turkish Lira which are;

• Passport translation at Notary (130 TL for each person additionally)
• Address document translation at Notary for opening a bank account
• Sworn translator
• Power of attorney (optional)
• Obtaining a tax number
• Photos
• Cadastre Tax
• Title Deed Application Tax (Döner Sermaye Harcı)

Real Estate Agent Fee

When buying a property, by law, registered and licensed real estate agents to receive 2% + VAT service fee from both the buyer and the seller.

When you check out properties for sale on our website, some properties show Estate Agency Fee is included and some properties show 2% Estate Agency Fee is demanded. It totally depends on the property sellers choice. Some sellers have one price list and they include the estate agency fee in the price. Some sellers just give their part. Therefore we demand from buyers as well.

Lawyer Expenses

Antalya Homes has sales agreements prepared by our company lawyer. We make Due Diligence check for each property when we add them to our website. We do our job with zero failure since 2004. Your money is under Antalya Homes expertise guarantee and experience.

However, you might choose a lawyer for confidence. We provide you a list of several independent English speaking lawyers for you to choose from. Lawyer fee is average 1.750 USD + 18% VAT.

Property Tax (Emlak Vergisi)

Property Tax is paid every year and is 0,2% in metropolitan municipalities and 0,1% in non-metropolitan areas. The tax rate of commercial properties is 0,4% in urban districts and 0,2% in non-metropolitan areas.

The tax is used by the government to fund water and sewer improvements, provide law enforcement and fire service and other items deemed necessary.

Property and Earthquake Insurance

Earthquake insurance (DASK) 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.

Getting Connected: Electricity and Water

The electricity and water abonnement fees in Antalya varies from district to district.

Electricity abonnement fees;

Abonnement registry fee is approximately 150 TL. If you get the first-time abonnement, you have pay 150 TL electric meter fee additionally. Additional deposit amount to be paid in each abonnement is 241 TL. The transfer fee is as much as the deposit amount and additional DASK amount, if DASK' time has expired.

Water abonnement fees;

Abonnement registry fee is 585 TL. Additional deposit amount to be paid in each abonnement is 60 TL. The transfer fee is as much as the deposit amount and additional DASK amount, if DASK' time has expired.

Telephone and Internet

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.

Maintenance Fee (Aidat in Turkish)

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

In the 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 professional sales representatives.

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