Costs when Buying Property in Turkey

Expenses when purchasing real estate in Turkey include the following main items:

Property price. This is perhaps the biggest expense item. The cost of real estate in Turkey depends on many factors such as location, type of property, condition, size, etc. On average, the cost of an apartment in Turkey is around US$50,000.
Tax on the purchase of real estate. This tax is 4% of the cadastral value of the property. The cadastral value is usually lower than the market value, so the actual tax amount will be less.
Cost of paperwork. This expense item includes fees for a notarized power of attorney, translation of documents, registration of property rights, etc. On average, the cost of processing documents is about $2,000.
Cost of insurance. Earthquake property insurance is mandatory in Turkey. The cost of insurance depends on the size and location of the property. On average, insurance costs about $100 per year.
Cost of connecting utilities. This expense item includes fees for connecting electricity, water, gas and sewerage. The cost of connection depends on the specific service provider. On average, the cost of connection is about 500 US dollars.
Thus, the total costs when buying property in Turkey can range from 50,000 to 70,000 US dollars.

Here are some additional costs that may arise when purchasing property in Turkey:

Agency services. In Turkey, the realtor's services are usually paid by the buyer. The amount of the agent's commission can range from 2 to 5% of the value of the property.
Cost of repairs and furnishings. If the property is purchased for personal use, renovations or furnishings may be required. The cost of this work may vary depending on the condition of the property and individual preferences.
When planning to purchase property in Turkey, it is recommended to take into account all possible costs in order to avoid unpleasant surprises in the future.

Expenses when buying an apartment in Turkey include the following main items:

Apartment price. This is perhaps the biggest expense item. The cost of an apartment in Turkey depends on many factors such as location, type of apartment, condition, size, etc. On average, the cost of an apartment in Turkey is around US$50,000.
Tax on the purchase of real estate. This tax is 4% of the cadastral value of the property. The cadastral value is usually lower than the market value, so the actual tax amount will be less.
Cost of paperwork. This expense item includes fees for a notarized power of attorney, translation of documents, registration of property rights, etc. On average, the cost of processing documents is about $2,000.
Cost of insurance. Earthquake property insurance is mandatory in Turkey. The cost of insurance depends on the size and location of the property. On average, insurance costs about $100 per year.
Cost of connecting utilities. This expense item includes fees for connecting electricity, water, gas and sewerage. The cost of connection depends on the specific service provider. On average, the cost of connection is about 500 US dollars.
Thus, the total costs when buying an apartment in Turkey can range from 50,000 to 70,000 US dollars.

Here are some additional costs that may arise when purchasing an apartment in Turkey:

Agency services. In Turkey, the realtor's services are usually paid by the buyer. The amount of the agent's fee can range from 2 to 5% of the cost of the apartment.
Cost of repairs and furnishings. If the apartment is purchased for personal use, repairs or furnishings may be required. The cost of this work may vary depending on the condition of the apartment and individual preferences.
When planning to purchase an apartment in Turkey, it is recommended to take into account all possible costs in order to avoid unpleasant surprises in the future.

Here are some tips for those planning to buy an apartment in Turkey:

Choose an apartment in a good area. A good location will provide you with access to quality infrastructure, transport services and other amenities.
Conduct a thorough analysis of the real estate market. Research apartment prices in different areas to make sure you're getting a good price.
Don't rush into purchasing. Don't make a decision to buy an apartment in a hurry. Take the time to find a suitable apartment and conduct inspections.
Buying an apartment in Turkey can be a profitable investment. Real estate prices in Turkey are rising, and rent brings a steady income. In addition, Turkey is a popular tourist destination, which can also contribute to rising property values.

Here is some additional information about the costs when buying an apartment in Turkey:

Tax on the purchase of real estate. The tax on the purchase of real estate in Turkey is 4% of the cadastral value of the property. The cadastral value of real estate is determined by the Turkish Cadastral Office. The cadastral value is usually lower than the market value of the property.
Cost of paperwork. The cost of paperwork when purchasing an apartment in Turkey includes the following expenses:
Notarised power of attorney. A notarized power of attorney is necessary so that the buyer can enter into a purchase and sale agreement on behalf of the seller. The cost of a notarized power of attorney is about $100.
Translation of documents. The documents required to complete the purchase and sale transaction must be translated into Russian. The cost of document translation is approximately US$100 per document.
Registration of property rights. Registration of property rights is carried out at the Turkish Cadastral Office. The cost of registering a property title is approximately $500.
Cost of insurance. Earthquake property insurance is mandatory in Turkey. Insurance protects the property owner from possible losses in the event of an earthquake. The cost of insurance depends on the size and location of the property. On average, insurance costs about $100 per year.
Cost of connecting utilities. The cost of connecting utilities depends on the specific service provider. On average, the cost of connection is about 500 US dollars.
Agency services. In Turkey, the realtor's services are usually paid by the buyer. The amount of the agent's fee can range from 2 to 5% of the cost of the apartment.
Cost of repairs and furnishings. The cost of repairs and furnishings depends on the condition of the apartment and individual preferences.