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Purchase Costs

Property Purchase Costs in Türkiye

There might be additional expenses when buying a property in Turkey. Throughout the buying process, our experts will inform you about the expenses. Thus, you can make your budget adjustment more comfortable and avoid unnecessary expenses. When buying a property in Turkey, you should consider an additional 4% to 9% of the purchase price to cover additional costs.

Buying property in Turkey comes with different costs. Here’s a list of the main ones to help you know what to expect:

Detailed Explanation of the Costs & Fees

1. Appraisal Report Fee

The appraisal report determines the average market value of the property. This document is also mandatory during the title deed transfer process. The home appraisal cost starts from 9.000 TL and may vary according to the features of the property.

The appraisal fee is paid by the buyer to an SPK-licensed (Sermaye Piyasası Kurulu - Capital Markets Board regulator) valuation expert. The appraisal report is usually delivered within 2-3 days.

2. Title Deed (Tapu) Transfer Fees

title deed on table with vase next to itThere could be various costs during the transfer of title deeds. The first and main cost is the Title Deed Transfer Tax. According to the law, the buyer pays 2% and the seller pays 2% according to the declared price. The declared price fact is explained in Tips on Legal Process. According to the customs in Turkey, the buyer pays all taxes.

The other expenses that you may face during the title deed transfer are as follows;

Last updated on 26.05.2024.

3. Real Estate Agent Fee

The real estate agent fee in Turkey according to negotiation may vary between 3% and 6% + VAT of the sales prices. The buyer and the seller pay separately.

4. Property Tax (Emlak Vergisi)

The property tax in Turkey is paid annually. The real estate taxes vary depending on the location and the type of property. For instance, the tax rate for residences in metropolitan areas is 0.2%, and it is determined as 0.1% in non-metropolitan areas. The tax rate for commercial properties within metropolitan areas is 0.4% and 0.2% in the non-metropolitan areas.

5. Property and Earthquake Insurance

Businessman covering miniature house with DASK logoNatural disaster insurance known as DASK is compulsory for all real estate. DASK (Doğal Afet Sigorta Kurumu), the earthquake insurance in Turkey, covers the risks that may occur after an earthquake like fire, explosion, erosion, etc. Its fee is generally between 100-500 TL; however, it can change according to the features of the property.

You can also take out a home insurance to protect yourself from undesirable issues like theft. The cost of property insurance varies according to the issues it covers and features of the property.

6. Getting Connected: Electricity and Water

You need electricity and water subscriptions when you take ownership of the property. The total fee for both electricity and water is between 5.000-6.000 TL including deposits and meters for the first-time subscription. If it is not a first-time subscription, the transfer fee is between 3.000-4.000 TL and an additional DASK amount if the DASK is expired.

7. Telephone and Internet

You can apply for telephone and internet subscriptions when you have a residence permit. You may choose the most suitable company for your needs. However, the average price of the internet subscription is 250-300 TL monthly. All companies charge setup fees.

8. Maintenance Fee (Aidat in Turkish)

worker working on some electrical partsA monthly maintenance fee is paid in residential complexes. It is paid for maintenance of communal areas like pools, gardens, security, stairwell electricity, etc.

9. Lawyer Expenses

We recommend that you work with a lawyer who speaks in your mother tongue so that the process can be carried out smoothly. You don’t need to hire a lawyer if you are a TEKCE customer. Our lawyers will follow every step of the process and inform you.

If you decide to hire a lawyer, the lawyer fee will change depending on the type of the process like citizenship application, residence permit application, title deed transfer, etc.

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