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Property Purchase Taxes

Posted by Majesty on September 25, 2023

As an investor in Turkish real estate, it’s important to understand the property taxes that apply to your investments. These taxes can vary depending on the type and location of your property, as well as your personal circumstances. By understanding the tax implications of your investments, you can make informed decisions and maximize the return on your investment.

One of the key property taxes in Turkey is the value added tax (VAT), which applies to the sale of properties. The VAT rate for properties in Turkey depends on the origin of the land on which the property is built. If the property is built on land that was previously used for agricultural or forestry purposes, the VAT rate is 1%. If the property is built on land that was previously used for non-agricultural purposes, the VAT rate is 8%. If the property is new construction, the VAT rate is 18%. This tax is typically paid by the buyer, although in some cases it may be shared between the seller and the buyer.

In addition to the VAT, property owners in Turkey may also be subject to property taxes based on the value of their property. These taxes, known as emlak vergisi, are levied by the local municipality and are used to fund public services and infrastructure. The tax rate for emlak vergisi varies depending on the location and type of property, and may be adjusted annually.

Another important tax to consider when purchasing property in Turkey is the title deed transfer tax. This tax is levied at a rate of 4% and is typically shared equally between the seller and the buyer. It is paid at the time of the property transfer and is used to cover the costs of registering the new ownership of the property.

As a property owner in Turkey, it’s important to understand your tax obligations and ensure that you pay your taxes on time. Failure to pay taxes can result in penalties and interest, as well as the risk of losing your property.
At Majesty Turkey, we understand that managing property taxes can be complex and time-consuming. That’s why we offer a range of services to help our clients manage their taxes and ensure that they are paid on time. Our team is well-versed in the tax laws and regulations in Turkey and can provide expert advice to help our clients navigate the process. We can help with tasks such as calculating tax liabilities, filing tax returns, and making tax payments. By outsourcing these tasks to us, our clients can save time and effort and focus on other aspects of their investments.

In addition to helping with property taxes, we also offer a range of other services to support our clients. This includes assistance with property management, rental assistance, and furniture and interior design. No matter what your needs are, we are here to support you and ensure that you get the most out of your Turkish property.

If you are an investor in Turkish real estate and need help managing your property taxes, we encourage you to contact Majesty Turkey to learn more about how we can help. Our team is ready to assist you every step of the way and ensure that your investment in Turkey is a success.

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