Buying property in Turkey

Expenses of buying

Giving Power of Attorney at Notary Public

Approximately 100 Euro (including Sworn Interpreter).

Land transfer tax

3,3% 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 500-2000 Euro).

Registration Fee at the Property in Turkey Registry Department (TAPU Office)

Approximately 25 Euro.

Completion Report (Iskan)

Obtaining „Completion Report" (new built properties only): starting from 350 Euro, depending on the size and the location.

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 property in Turkey

Property tax Turkey (Emlak Vergisi)

App. 0,1% 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. 0,0930 Euro (December 2007 including VAT and diverse taxes).

Water

Water cost per m3: app. 0,60 Euro (excluding 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 on telephone.