Where & How Much We Pay - When Buying Real Estate in Turkey & After Buying
As in every country, there are certain regulations, related payments & taxes in Turkey's commercial life. Everyone who wants to buy a property in Turkey may naturally be worried about encountering some surprises while buying a house & after buying it. Don’t worry, because it is normal to have very different social behaviors in many areas, especially in culture, history & nature.
I will write the rest of my article by empathizing as someone who wants to buy a house in Turkey.
“I want to buy a house in Turkey. However, do house prices or lifestyles differ regionally in Turkey? How is it possible for me to buy a house that fits my budget & buy a more economical comfort in Turkey?”
Of course it's possible. You can research many factors before buying a property in Turkey. As you know, different social channels & news pages, as well as companies engaged in real estate trade in Turkey that will provide the necessary explanation to you. In Turkey, as in every country, population density is not homogeneous. A large part of the population prefers metropolitan areas & regions with business areas. The population of the regions where the job area is low & the climatic conditions are not suitable does not increase, but sometimes decreases. As such, real estate prices go in the right direction with these population movements.
The wishes of the citizens of other countries who want to buy real estate in Turkey & the reasons for living in Turkey are often different from the reasons of Turkish citizens. Many foreign nationals come to Turkey for a holiday & want to buy a house in order to stay longer in the holiday region. Turkey's holiday destinations are very cheap compared to the holiday destinations of European countries. This cheap service & product purchase also shows itself in real estate prices.
Turkey's construction companies are preparing projects in holiday regions, each more stylish than the other, fantastic with social facilities & also in many different sizes. The size of the apartments, the popularity of the location & social areas are the most important factors affecting the prices of the apartments. Of course, the person who buys a house in Turkey is always economically profitable. Because the prices of apartments in holiday regions are increasing every year. For example, while the price of a 70m2 and one-bedroom flat in 2010 was 70-80 thousand Euros, today the same flat is 140-150 thousand Euros.
When buying a house in Turkey, what should you pay other than the price of the house?
It doesn't matter if it's a small or large amount. I want to learn. “You are right. I would like to start from the beginning. I do not want to talk about the travel & accommodation costs that will come in buying a house in Turkey... Because this is out of our scope. For example, you have decided to buy a house in Alanya, Turkey. You have scheduled payments. There is an expense that we encounter while doing the deed transactions. This tax, which we call title deed transfer tax, is 4% of the value recorded in the Land Registry Directorate of the real estate. (This subject is very detailed. It is useful to contact us & get detailed information.) In addition, a fee is charged under the name of revolving fund fee. This fee is 4000 TL for 2023 & varies year to year. In addition, it is necessary to benefit from the services of an intermediary firm & translator while the deed transaction is being made. This fee is 2000 TL in total.
If the house to be purchased is to be bought by a citizen of a country other than Turkey, the Land Registry Directorate sends an expert to this house. The task of the expert is to officially determine the condition of the house & its price. The cost of the expert sent to the house to be purchased must also be paid by the buyer. This fee is 3500 TL for 2023.
After purchasing the house, it is necessary to change the name of electricity and water subscriptions or create a new subscription. If the purchased house has been used before, a subscription change is required. Subscription change fee for 2023 is 600TL for electricity, 2450TL for water, and 600TL intermediary institution service fee. However, if a subscription is to be purchased for the first time, 700TL for electricity, 3600TL for water & 600TL service fee is charged.
What other payments will I make other than the above payments?
Is there a site fee? How is it determined? How much electricity & water do I consume monthly? How much is the internet subscription fee? How much is drinking water? How much is the gas? Is there any other payment?"
Yes, of course, these are also important questions. I want to start over. You are entering a system at the same time as buying a house in Turkey. Although some of these payments are not related to the house, I would like to answer. There is a site fee. The annual fee budget is formed by dividing the annual expenditure budgets of the estates by the number of residents. Managers & dues are determined at the site of General Assembly meetings held once a year. Dues are paid monthly. However, one can pay for one year or several months. Dues are 35-40 Euros for 2023 in a site with an average of 80 independent sections with summer & winter pools, Turkish bath & sauna. Electricity & water prices are 20 tons of water & 400kw electricity for an average family of 3 people. For the year 2023, 1kw of electricity is 3,5TL, & 1 ton of water is 11TL. Internet subscription is the lowest speed 100 TL, the highest 250TL. The price of 20It of water we buy for drinking is 40TL, & the 12lt gas used in the kitchens is 350TL.
Everyone who owns a house in Turkey pays real estate $ environmental cleaning tax to their municipality. This amount is re-determined each year according to the inflation rate. This tax increases in direct proportion to the size & location of the house. However, at the moment, for example, the average for Alanya is at least 600 TL & at most 1500 TL.