Expenses of Buying: Costs Arising While Buying a Property in Turkey

Expenses of BuyingThose are the expenses you have to count on when you are buying a property in Turkey.

The Power of Attorney

Giving Power of Attorney at Notary Public costs
approximately 100 Euro (including Sworn Interpreter).

Conveyance Tax

4% of the Turkey property value stated in the TAPU Office.
This is paid at one of the State Banks at the time of conveyance (the amount stated in the TAPU Office is lower than the real property value and approximately between 2000-5000 Euro depending on the land/apartment size/villa etc).

Iskan

Obtaining the Completion Report named Iskan (for new built properties only): starts from 350 Euro, depending on the size and the location.
All buildings and apartments need Iskan to apply for water and electricity subscription.

Other Charges

Electricity Subscription
New connection of electricity meter: approximately 100 Euro (paid only once).
Name transfer of an existing connection: approximately 30 Euro (paid only once).

Water Subscription
New connection of water meter: approximately 60 Euro.
Name transfer of an existing connection: approximately 30 Euro.

Telephone Subscription
Land Line Telephone: you can only get a land line telephone registered if you have residence permit in Turkey.

Annual Expenses of Owning a Property in Turkey

Property tax in Turkey (Emlak Vergisi)
App. 0,02% of the property value declared by the local municipality (to be paid before the end of May each year). In most cases, annual property tax of a 2 bedroom apartment in Alanya region is app. 100 Euro.

Electricity
Energy cost per kwh: app. 0,131 Euro (July 2015, including VAT and diverse taxes).

Water
Water cost per m3: app. 0,88 Euro (including VAT and diverse taxes).

Telephone
Cost per unit: app. 0,039 Euro, standard tariff.
Monthly rental: app. 7,20 Euro, standard tariff.
Unit period (province): 60 seconds.
Telephone tariffs include VAT (18%), exclude SCT (15%).

Please visit http://www.turktelekom.com.tr/ for further information.