FAQ

Q
Are the prices same for Turkish people and foreigners?

Yes. There is a price list which is same for both Turkish and international buyers. You can be sure that for all the projects we are marketing, conditions are the same for all buyers.

Q
Is the taxation same for Turkish people and foreigners?

Yes. The taxation system is exactly same for everybody. Please check the “closing costs” in useful info part in our website. These taxes given should be paid to the government while purchasing a property.

Q
Wouldn’t I get cheaper price when I go to the developer directly?

No. Even if you go by yourself or through the consultancy of our company, same prices are offered by the developers. Even, as we are experts in this business, we know how much discount you can get depending on the project. For that reason, in many cases we will help you to get a better price than normal. Sometimes, the developers might also have special promotions for our company as we have numerous sales in some periods.

Q
What needs to be done to reserve a property?

You need to bring your passport with you when we go for viewing the projects. %1 of the sales price should be paid as reservation either cash or by credit card. This will reserve the apartment on your name, freeze the price for you and give you two weeks’ time for you to make the down payment. Surely this amount will be deducted from the down payment.

Q
How can I open bank account?

In order to open a bank account, firstly you need to go to a Tax office with your passport and get a Tax number. After that you need to provide; 1- a statement showing your current address (it could be an electricity or gas bill, or a statement from your bank in your country), 2- your passport and 3- your tax number to the Turkish bank you want to open an account in.

Q
What are the yearly costs for owning a property in Turkey?

Maintenance fee which is around 1-1,5 USD/m2 monthly Property tax which is %0,2 of the property value yearly. DASK (Compulsory Earthquake insurance) which is around 70-80 USD yearly.

Q
What are the closing costs / taxes for buying a property?

Purchasing tax: %4 of the sales price. (usually it is being divided between the buyer and the developer which makes it %2 for each party) VAT (Value Added Tax): %1 of the sales price. (if the apartment is bigger than 150 m2, VAT to be paid is increased to %18 of the sales price) Utilities application (Electricity, water, gas connections): Approximately 1000 USD. Stamp duty + notary charges: To be paid only for government supported projects that belongs to Emlak Konut. Usually VAT is not paid for these projects which make the conditions almost equal for the buyer.

Q
What is the capital gain tax when I sell my property?

The capital gain tax rate varies from %15 to %35. This tax is to be paid in case you decide to sell your property within five years after purchasing a property. In other words, if you keep your property for five years at least and sell it afterwards, there is not going to be any capital gain tax to be paid to the government.

Q
Is owning a property in Turkey freehold?

Yes. Whoever buys a property in Turkey from any nationality will own the property freehold in other words with all its rights.