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TROwnership & running costs
The contract stamp duty & the yearly property tax which is usually 0,001% to 0,002% of the property price stated on the title deed. The rate depends on the location of the property. If the property is located within a big city district (in Turkish “Büyükşehir Olan İller”) e.g. in Istanbul the property tax is 0,002% if not then it is 0,001%. There are different rates for commercial properties and pieces of land that allow for constructions.
Several bills have to be paid such as the monthly maintenance costs (“Aidat“) which are about 0.25 € per m2 of the flat. Also, there are utilities which will be up to 0.35 € per m² of the flat depending on the rate of usage of e.g. air conditioning. Property tax is usually 0.002% of the property value annually. Compulsory earthquake insurance, up to 70-75 EUR annually.
Maintenance fees (in Turkish “Aidat“) vary depending on the project. When there are more facilities in the complex, fees are usually higher. On average, about 1 to 4 TL per square meter can be expected whereas 1 TL is for homes that do not have a swimming pool and other common facilities and 4 TL is for the most comprehensive and luxurious common facilities.
Yes. The most commonly done insurances are for fire, theft and water damages and for any other force majeure. These insurances are relatively economical in Turkey.
The tax of owning a property in Turkey is 4% of the total property value, to be paid only once in the Land Registry Department at the moment when the property is registered in the buyer‘s name and receives the title deed. The yearly property tax which is usually 0,001% or 0,002% of the price depending on the location of the property. If the property is located within a big city district (in Turkish “Büyükşehir Olan İller”) e.g. in Istanbul the yearly property tax is 0,002% if not then it is 0,001%. There are different rates for commercial properties and pieces of land that allow for constructions.
The immigration department is the place where such applications are handled, usually, they are finished within a month. For many countries you can stay in Turkey easily by visa (please click here for a list of countries) and would not even need (but are free to do so of course) to apply for a residence permit.
It helps you to see a wide range of properties that match your special requirements and benefit from our experience in the field. You can also profit from many operations such as:
- Residence permit.
- Selection of the best payment methods.
- Setting up tax number and bank account.
- Registering insurance contracts.
- Protecting you from malicious behaviour of construction companies, owners and much more.
