What are the costs of buying a property Turkey?
The main costs of buying a property in Turkey are: Estate agency commission charged to the buyer is 3%. 3% of the purchase tax (similar tax to UK stamp duty) Land registration costs (approximately 120) Annual property taxes at the rate of 0.1% and 3% for land developments. New properties or when buying a property off-plan in Turkey are exempt from annual property tax for 5 years following their construction There are also administrative costs that depend upon the complexity of the buyers requirements. Solicitor’s fees vary in different parts of Turkey. As a rule, the costs of buying a property in Turkey should amount to about 10% of the purchase price; however they will be lower on newly built property as it is exempt from the Stamp duty.
