When considering the acquisition of property in Turkey, it is crucial to account for not only the budget for the property's actual price but also the associated purchase costs. These include expenses related to legal representation, notarial services, taxes, and other relevant fees. The amounts provided below are approximations, and it is advisable to allocate around 8.0% of the property value to cover all fees and charges.
Legal Representation:
Lawyer fees can vary based on the professional chosen. For assistance in finding a lawyer proficient in Turkish property transactions,
Translation Services:
Translators in Turkey, who must be officially registered and licensed, may charge hourly rates or offer specific packages for property transactions. Licensed translators can be found through notary offices or recommended by other reliable sources.
Our Fee:
A service fee of 2% of the property purchase price.
Transfer Deeds Tax (Title Deed Transfer Tax):
A fixed rate of 4% as of January 1, 2020.
Tapu Registration (Title Deeds):
A fee of $100.00 for the title deed registration.
Notary Fees:
Approximately $350.00 for notary services.
DASK Insurance:
Mandatory earthquake insurance, with costs varying based on the property's square footage. For instance, DASK for a 70-square-meter, two-bedroom apartment is roughly USD $40-45 per year.
Example of One-Off Costs for a $100,000 Property:
Purchase Tax: $4,000
Buyers Fee: $2,000
Solicitors Fee: $2,000* (*Typically between $2,000 - $2,500 for standard conveyancing services)
Notary Fee: $300
Gas & Electricity: $200
Total: $8,500