What is the purchase cost?
  • Generally the VAT cost: it varies from 1% to 18%, according to the property. Most of the VAT cost is 1% unless the property size is more than 150 m2, then VAT cost will be 18%. However, in Feb /2017, the parliament has approved a law which introduces an exemption of 18 percent of value-added tax (VAT) for foreigners in which they will not pay VAT for their first properties in Turkey if their acquisition payment is in foreign currency, as well as, they should not sell their properties for at least one year after purchasing.
  • Purchase tax: it is a fixed percent 4%. Occasionally, the developers pay 2% and the client 2%.
  • The utility connection and habitation license cost: it’s about 2000 TL.