Costs of Buying Property in Turkey 2024

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The expenses associated with purchasing property in Turkey extend beyond transferring the property’s price to the seller’s account.

Various additional costs or fees must be considered when deciding to invest in real estate in Turkey.

These may include taxes, fees for legal services, insurance, and more.

Fees for Authenticating the Purchase Contract at the Turkish Notary:

Turkish authorities have set a fee of 1% of the contract value for authenticating the property purchase contract at the Turkish Notary.
For example, if a property in Turkey is sold for $100,000, the authentication fee at the Turkish Notary would be $1,000.

The property valuation report, obtained through the “Web Tapu” system via a licensed company or a committee from the Land Registry Directorate, incurs costs.
The expenses for obtaining the report in 2023 amount to 1,500 Turkish Lira.

These fees are paid to the Land Registry Directorate in Turkey when transferring property ownership, whether through sale, gift, donation, or inheritance.
The property transfer fees (Tapu fees) are typically 4% of the property’s value, usually borne by the buyer.
However, there might be cases where the seller and buyer agree to split the fees equally, 2% each.

When obtaining a power of attorney to manage property transfer transactions, fees paid to the Turkish Notary range between $50 and $100.

Real estate attorneys receive fees when entrusted with managing property ownership transfer transactions in Turkey.
These fees are approximately $1,750, regardless of the property value.

For property ownership transfer after purchase, presenting an earthquake insurance policy, known as DASK, is required.
The annual insurance fees, varying based on the property’s location, are estimated to be around $50.

Other miscellaneous fees, including document translation and authentication costs, total approximately 3,500 Turkish Lira.

Turkish authorities have set the value-added tax at 8% for properties with an area not exceeding 150 square meters.
For properties larger than this, the remaining square meters are subject to a 18% property tax, payable once. Some cases may be exempt from VAT in Turkey.

These are fees paid to the management of residential complexes in Turkey for cleaning, maintenance, and other services.

Paid to the municipality, these taxes amount to 0.2% or 2‰ of the property’s value, payable once a year.

Real estate consultancy groups in Turkey do not charge fees for their advisory services or for providing property ownership offers.

Instead, the company’s commission is collected from the construction company, considering it as the selling party.