What are the tax implications for owning a property?
There are several taxes in Turkey, and the first that you would need to know about is the buyers property tax. At Mese Construction, our clients pay 1.5% tax of the total amount recorded on the actual deeds and the sellers pay the other 1.5%. Please note that this all depends on the area of Turkey you are in, and how you are buying as there are variations on how the 3% tax is paid. There is also a community tax, which is generally paid twice yearly – this is for local services and maintenance. This is very minimal in comparison to many other countries. There is also a renting tax that should be paid if you are renting out your property.
