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You will be surprised to know that in general expenses related to property purchase in Turkey are remarkably reduced compared to other countries. Still being aware of these expenses in details before taking this step and knowing exactly when to pay these fees during the procedure, will allow you to estimate your budget and to evaluate the whole purchase idea before achieving it. So here is a brief outlook about the extra fees beside the property price that you will be asked to pay. The costs are set in Turkish Lira.

Real Estate Appraisal report fee:

foreign buyers will need an obligatory appraisal report stating the value of the property in order to receive the title deed. This report aiming to secure foreigners during the property purchase, will be valid for 3 months starting from the issue date. In case of under construction projects, the report will be given after the completion of the construction.

The cost of this report is between 1000 and 2000 TL depending on the city and the real estate complexity. It has to be paid directly to the real estate appraisal department of land registry and cadaster and the report will be given within 3 days.

Translator and PAO fees:

Since you are a foreigner and you don’t speak Turkish, and since the sales contract must be in Turkish, the presence of a certified and sworn translator while signing the contract is mandatory.

This fee varies depending on the language and the length of the document to be translated so we can’t state a fixed amount but it’s about 500 TL. Moreover, if you won’t be present while signing the contract you will need a power of Attorney that will cost you around 500 TL too.

Title deed’s fee:

It’s a tax paid while transferring the ownership of the property to you and registering the title deed on your name in the Land Registry and Cadaster Directorate. It’s fixed as 4% of the value of the property and charges both the buyer and the seller equally: 2% from the seller and 2% from the buyer.

The Land Registry and Cadaster Directorate charges you also two processing fees which are the Rotary Capital Fee (Döner Sermaye Harcı) costing you 293.75 TL and the Land Registry Cadaster fee (Tapu Kadastro Harcı) costing 598.25 TL.

Lawyer fees:

Since all our documents are legally approved by our law company and thanks to our big experience on transactions procedures, you don’t really need a lawyer while cooperating with our company. However, if you insist and you still require a lawyer, we can recommend you one of our trustworthy lawyers who are experienced in these procedures.

Electricity, water and phone connections:

These fees vary according to the district where the project islocated.

Electricity fees:

While getting an electricity subscription you must pay the following taxes:

  • Connection fees: 33.8 TL for a new subscription.
  • Deposit amount: 178 TL.
  • Stamp tax: 9.48 per thousand of the deposit amount.
  • File fee: calculated according to the deposit amount.
  • Transfer fee: as much as the deposit
  • An extra DASK fee will be added in case of expiration of DASK time.

Water fees:

  • For a first subscription, you will have to pay the following fees:
  • Water participation fee: 195 TL
  • Channel participation fee: 155 TL
  • Deposit amount: 137 TL
  • Transfer fee: As much as the deposit
  • An extra DASK fee will be added in case of expiration of DASK time.

Home insurance DASK:

According to the Turkish law, all the houses must have an earthquake insurance that is determined depending on the size of the property and on the insurance company price.

However approximately it’s about 150 to 200 TL yearly for a 75 m2 apartment.

Annual property tax:

It’s an annual tax depending on the function and the location of the property. In fact, properties

situated in metropolitan municipalities are charged with 0.2% however in non-metropolitan areas it’s 0.1%. Besides, Commercial properties situated in urban districts must pay 0.4% versus 0.2% in non-urban areas.

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istanbulrealestate.com provides services to help you with all of the bureaucratic processes of acquiring citizenship and moving to Turkey, along with the quality help regarding finding real estate to successfully invest in.