One of the greatest advantages of owning Turkish real estate is little expenditures for the registration and subsequent maintenance.
When signing a contract for the purchase of real estate, the conditions for the costs of re-registration are negotiated, in most cases these costs are paid by the buyer.
These costs include:
- Power of attorney at the request of the buyer - about 100 euros (including translation services)
- Property registration tax - 4% of the cadastral value, which is below market value
- Registration fee at the Cadastral Office - approximately 40 euros
- Sworn translator services for the transfer of ownership - 40 euros
- Compulsory earthquake insurance - DASK - 15 euros
- Iskan - permission to use a separate unit of real estate - apartment (only for new buildings) - from 350 euros
- Electricity and water subscription - approx. 150 euros for new buildings, approx. 70 euros secondary market
- Expert real estate evaluation. From 04/03/2019, an act of expert evaluation of real estate has become a mandatory document when applying for the re-registration of property rights. Takes about 2-3 working days, the cost is about 200 euros
- Many clients are concerned about the question - How expensive is it to maintain real estate in Turkey? It is the inexpensive maintenance of real estate that attracts many clients to Turkey. Annual expenses consist of Aydat (monthly maintenance fee for the complex) - the Aydat includes cleaning of the area, concierge services, elevator maintenance, pool cleaning, lighting of common areas, etc. The Aydat depends on the house and the complex and infrastructure. Residents pay this amount to the management company, which is responsible for order, every year in any complex a meeting of residents is held, at which the budget of the complex, current costs and tenants' proposals are discussed, the amount of Aydat ranges from 5 euros - for a house without a pool and territory to 50-100 euros for complexes with a good area, swimming pool, concierge services. On average, for a complex with a pool, a garden, a generator and a large number of apartments, Aydat is 35-45 euros per month
- The annual Property Tax (Emlak vergisi) app. 0.02% of the cadastral value - it is approximately 50-100 euros per year, you can pay at the district municipality office after the re-registration of ownership and subscribers
- Utility bills - water and electricity are paid according to meter readings, on average, electricity - 40-60 euros per month, water - 15-20 euros per month