Title deed (TAPU) expenses
Real estate purchase costs
The cost of real estate is the most important and biggest expense in the real estate buying process. It is wise to know before you buy how much additional costs will be required by legal procedures such as taxes and services. The following are the expected purchase costs.
Real estate agency fees
Another fee that can arise in the home buying process is the real estate consultant fee. If you buy a new apartment from a construction company, usually you do not pay an additional commission to our agency. Under the Real Estate Trade Regulations, a real estate agency can request a service fee of 2 percent + VAT separately from both the home owner and the home buyer. The real estate consultant may receive a different amount of service fees, in agreement with the buyer and seller.
Evaluation Report Cost
The property valuation report is a mandatory document when buying a home by foreigners. It must be provided before the transfer of the title deed. The cost of the SPK-approved appraisal report is 6000 TL. Buyers pay this fee directly to the Real Estate Appraisal Department at the Land Registry and Cadastre Office. The term for receiving the assessment report is 2 to 3 days.
Costs for Obtaining a Certificate of Title (TAPU)
The TAPU fee, which is 4 percent of the sale price of the property, received from the buyer and seller, is included in the costs incurred when buying a property. The TAPU ownership fee payable when buying a property is 4 percent, 2 percent from the buyer and 2 percent from the seller.
The preparation of documents will require additional costs and they consist of:
• Notarized translation of the passport (1000 Turkish Lira per person)
• Notarized translation of a document confirming the address of residence in your country. This transfer is required to open a bank account
• Work of a sworn translator
• Notarized power of attorney (if necessary)
• Obtaining a tax number
• Cadastral tax on the application
• State Service Charge (Döner Sermaye Harcı)
State Service Charge (Döner Sermaye Harcı)
When buying a home, you must also pay a Circulating Capital transaction fee to the Directorate of Land Registry and Cadastre. This is a one-time cost and in Turkish it is Döner Sermaye Harcı, which denotes ownership. This amount is determined by the relevant institutions each year, and payment is made through land registries. The cost in 2023 is apporximately 1300 TL- 3730 TL.
DASK, namely the compulsory earthquake insurance policy, is also required in the process of transferring the deed when buying a house. This insurance is renewed every year and the buyer must have this insurance in their name when buying a home. It also includes insurance against risks that may arise from a fire, explosion, tsunami or landslide during and after an earthquake. The cost varies from 100 to 300 TL per square meter.
Real estate insurance provides protection against most property risks such as fire, theft, and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. In such cases, real estate insurance provides financial compensation to the owner.
Property tax (Emlak Vergisi)
Every homeowner is subject to property tax based on the value of the property. This tax must be paid every year, starting from the year after the purchase of the house. The residential property tax rate is calculated as 0.2% for real estate owned by the city municipality and 0.1% for real estate outside the city municipality. The tax rate for commercial real estate is calculated as 0.4% for real estate owned by the city municipality and 0.2% for real estate outside the city municipality.
Environmental cleaning tax
While this is not included in the costs incurred when buying a home, after buying a property, there is another expense. The government uses the tax to pay for work to improve water supply and sanitation, against fire service, law enforcement, and other necessary services
Electricity and Water Connection Costs
To use services such as electricity, water, natural gas and internet, you need to open a subscription. It is also possible to move previous property subscriptions to a new owner. At this stage, the payment for the renewal of the subscription fee for water and electricity is also an expense.
When getting a subscription for the first time, you pay between 250 TL and 850 TL for the registration, electricity meter and additional deposit fees. Additionally, you need to make a deposit for each subscriber number. Re-issuing an already connected meter to a new owner is equal to the amount of the deposit and the amount for compulsory real estate insurance (DASK), if the insurance policy for this property has already expired.
Registration of a new subscriber is 1300-1600TL as subscription registration and there are additional deposit fees. The transfer fee is equal to the deposit amount and additional DASK amount if DASK has expired. Re-issuing an already connected meter to a new owner is equal to the size of the deposit and the amount for compulsory real estate insurance (DASK), if the insurance policy for this property has already expired.
Phone and Internet
If you have a residence permit, you can connect a landline phone and the Internet. The companies Turktelecom and TTNET are the leaders of the Turkish marke and they operate throughout the country.
For new subscribers, special service packages are offered, subject to a two-year contract. For example, there are packages including phone calls, broadband Internet access, and a set of satellite TV channels for a fixed monthly price.
Monthly Service Fee (Turkish "Aydat")
Anyone who buys an apartment in an apartment building or residential complex is obliged to make monthly payments (Aydat) for communal facilities such as electricity and cleaning of the staircase, security and maintenance of swimming pool and garden and other shared facilities and areas of the building or complex.