Expenses When Buying Property in Turkey
The cost of buying a house in Turkey is relatively low compared to other countries. Our experts inform you about all costs of the purchasing process before starting. Foreign buyers will be pleasantly surprised at how much money they can keep in their pockets.
You can find the list of expenses when buying a home in Turkey below.
The Cost of Buying a Home in Turkey
A real estate appraisal report shows the real value of real estate. It is obligatory for foreign buyers before the title deed transfer. The SPK validated home appraisal cost is approximately 6000 TL. It depends on the city and the features of the property.
Buyers pay the fee directly to the SPK validated expert. It takes 2-3 days to complete the report. You can get the details from the Appraisal report page.
Title Deed (Tapu) Transfer Fees
The General Directorate of Land Registry and Cadastre carries out the deed conveyance procedure. Both the buyer and seller must be present unless either party gives a Power of Attorney for final signature. The buyer pays 4% of the declared value of the real estate to the title deed office as Title Deed Transfer Tax.
There are various costs and real estate taxes:
• Passport translation at Notary (1000 TL for each person)
• Address document translation at Notary to open a bank account
• Sworn translator
• Power of attorney (optional)
• Get a tax number
• Cadastre Tax (Tapu Kadastro Harcı in Turkish)
In addition, the Directorate of Land Registry and Cadastre charges a one-time Circulating Capital transaction fee. It is Döner Sermaye Harcı in Turkish. It is approximately 1300 TL - 3730 TL.
Real Estate Agent Fee
According to the regulation, the real estate agent fee is 2%+VAT of the sales price. This rate is charged from the buyer. The buyer commission does not appear in many of our properties, as some sellers charge the finder's fee to make their portfolios more attractive.
On our listing pages, you will see that Real Estate Agency Fee is included in some real estate, while the 2% Real Estate Agency Fee is requested for some real estate. It is entirely up to the seller's choice.
Property Tax (Emlak Vergisi)
Property Tax is paid every year. It 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, to provide law enforcement and fire services, and other public services.
Property and Natural Disaster Insurance
Natural Disaster Insurance (DASK) is compulsory in Turkey. It is calculated in square meters. Risks that may arise from fire, explosion, tsunami, or landslide during and after an earthquake are under the Compulsory Natural Disaster Insurance. The fee is 100-300 TL per square meter.
Property insurance protects real estate against most risks, such as fire, theft, and some weather damage. This includes different types of insurance, such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. The insurance provides financial reimbursement to the owner in such cases.
Getting Electricity and Water Connections
The cost of setting up utilities varies from district to district in Antalya.
The cost of electricity subscription:
If you get a subscription for the first time, you pay between 250 TL and 850 TL in total as subscription registration, electricity meter, and additional deposit fees. The transfer fee is equal to the deposit amount and additional DASK amount if DASK has expired.
The cost of water subscription:
If you get a subscription for the first time, you pay 1300-1600 TL in total as subscription registration and additional deposit fees. The transfer fee is equal to the deposit amount and additional DASK amount if DASK has expired.
Telephone and Internet
If you have a residence permit, you can get telephone and internet connections. Türk Telekom and TTNET are nationwide and hold the majority of the market.
Special packages are available for new subscribers if you sign a two-year contract. As an example, you can get phone calls, broadband internet, and TV satellite packages for 130-200 TL per month. All companies charge a setup fee.
Maintenance Fee (Aidat in Turkish)
You pay a monthly maintenance fee if you buy an apartment in a residential complex. You pay it for communal facilities, such as stairwell electricity, swimming pools, garden maintenance, or security. Learn more about maintenance fees in Turkey.
Antalya Homes ® company lawyers protect your rights. All documents, such as a sales document, are carefully prepared and examined. Our customers who prefer us do not need a lawyer.
However, we suggest that you work with a lawyer to complete your process since the citizenship process is more complicated. We provide a list of several independent lawyers who speak your language for you to choose from.
You can check other frequently asked questions about buying and selling a home by real estate buyers on the WikiProperty page. You can contact our professionals via e-mail, telephone or by visiting one of our offices for more.