Taxes and overall fees related to buying a property in Turkey are considered low when comparing to other Europe countries like Spain or France. We advise all our clients to consider 5% - 6% to be added on top of their property purchase price to cover all expenses and additional costs after the sales process, where in other countries this percentage can reach 10-20% as extra fees and charges.
All property tax rates are the same for Turkish nationals and foreign residents, and basically they can be classified into the following main sectors:
Title Deed Tax:
Also Known as Property buying tax, it is only paid one time to the Turkish government bank via the land registry office when registering the house in your name and start issuing the title deed of your house. This amount is 4% of the assessed value of the property, and if you are buying from under construction project this amount will not be payable until the completion of the project .
Yearly property tax:
Once you own the property, whether you are a foreigner or Turkish citizen, there is a yearly property tax 'emlak vergesi' that must be paid to the local municipality, which equals 0.002% of the property value on the Title deed copy.