How to Sell Property in Turkey?
You can own and sell a property in Turkey in a few simple steps. We have prepared a guide that is full of advice on selling property in Turkey.
Turkey has been a tourist destination for centuries due to its natural beauty and archaeological wonders. In recent years, the country has also become a popular place to purchase property, thanks to its favorable climate, low cost of living, and diverse landscape.
Why Invest in Property in Turkey?
Turkey is one of the most popular tourist destinations in the world and is becoming an increasingly popular place to invest in property. There are many reasons why investors should consider buying property in Turkey.
Some of the main benefits of investing in properties for sale in Turkey include:
- The Turkish property market is booming, and prices are expected to continue to rise in the future. The Turkish Lira's sharp decline made real estate much cheaper in hard currencies with property sales soaring by 113.7% in December 2021.
- Turkey is a stable country with a strong economy posting consistent GDP growth.
- Real estate in Turkey can be used for both residential and commercial purposes.
- There are a wide variety of properties available to suit all budgets.
- The Turkish government actively promotes foreign investment in the property sector and even offers a fast-track second passport program for real estate purchases of $400,000 USD or more.
The Process of Selling Property in Turkey
The process of selling a home in Turkey is relatively simple:
- Find a reputable real estate company with a zero-fail delivery record and a strong marketing network for both domestic and international buyers.
- Discuss your needs and preferences with the agent. Negotiate commission fees and the scope of services you’ll need to sell your home.
- Sign a contract with the real estate company.
- The company will market your property and show it to potential buyers.
- Upon completion of the deal, the real estate agent will help you complete the sale by submitting the following documents to the land registry office:
Copy of your property ownership document (TAPU)
Notarized ID (translated passport copy)
Your Turkish tax ID
2x passport size photos
Compulsory earthquake insurance (known as DASK insurance)
Municipality value document
Property evaluation report (obligatory) ready, before you make the official sale application at the land registry office.
Note: The land registry will check that you're up to date on all your municipality property taxes which will need to be settled (if outstanding) in order to complete the sale of your property.
- Don’t forget to disconnect your electricity, water, gas, and internet connections to your property once you’ve completed the sale (and receive your initial deposit back you paid when first connecting services).
If you’re in development, paying your community rates up to the day you vacate and getting a receipt to prove you’ve paid your share is important so there are no outstanding fees after the sale.
What Are the Costs of Selling Property in Turkey?
The costs of selling your property in Turkey and taxes can vary depending on your region and choice of real estate agent (for their fees). However, you can expect to pay the following when you sell your property:
- Real estate agent fee
- Notarization costs
- Two percent (2%) sale tax based on the agreed selling price
- Earthquake insurance (which you should already have, but if not, will need to buy before you can sell)
- Property evaluation costs and property survey report costs
- Potential capital gains tax if you sell your property for more than you bought it for (see next paragraph to see if capital gains apply to you)
- Optional: renovation and/or home improvement costs that may be required before selling your home
Do I Have to Pay Capital Gains to Sell My Apartment in Turkey?
The answer depends on how long you’ve owned the property and the type of property. Here are 3 examples where you won’t pay any capital gains on the sale of your property:
- You DON’T PAY CAPITAL GAINS if your property has a title deed registered BEFORE March 2007 and you owned your home for 4 years prior to the date of transfer/sale to the new owner.
- You DON’T PAY CAPITAL GAINS if your property has a title deed registered AFTER March 2007 and you owned your home for 5 years prior to the date of transfer/sale to the new owner.
- You DON’T PAY CAPITAL GAINS if you purchased a brand new property that you have owned for less than 1 year prior to the date of transfer/sale to the new owner (after 1 year you’ll have to wait the standard 5 year time period to not pay capital gains).
Want to Sell Your House in Turkey?
Antalya Homes ® has been selling properties to international buyers since 2004 with an impeccable 100% happiness guarantee. Zero-failure on title deed delivery makes Antalya Homes ® the number one real estate agent of choice for international property buyers.
If you’d like to sell your property in Turkey, we offer remote and in-person viewings where you can enjoy an obligation-free discussion on selling your property.
Our friendly team of professionals is more than happy to help. Our multilingual and multicultural team is ready to guide you for all steps ahead. You can contact us for further details.