When the decision to buy property in Turkey has been made, you may ask yourself what are the extra expenses among the cost of the real estate object. Though the procedure of real estate purchase in Turkey is very simple, there are some more expenses. As well if you ask yourself how much does it cost to live in Turkey, how much money you should pay each months for the bills, we have listed all the expenses in this article. Please read it thoroughly.
Taxes and fees paid once:
• Translation and notary certification of the passport of purchaser into Turkish language: 100$
• Fee to obtain the Title Deed of the property (Tapu) on behalf of the buyer: 90 $
• Tax property fee in the Turkish Republic is 4%. The amount for Tapu sets the Municipality. Usually amount that is officially shown is 40-60% less from the real price.
• Fees for the sworn translator “English – Turkish” is set by Association of translators in Turkey: 100 $
• Fees for the transfer of ownership of the property (is paid to the Land Registry Office): 200 $
* Note: Tax property fee for property in Turkey is paid only one-time when you receive Title Deed for the property
Other expenses are paid after receiving the Tapu:
• Registration of water meter on behalf of the new owner:
– Registration a completely new counter 200 $ (payable once).
– The transfer of the name of the counter from the old owner to the new owner: 60 $ (payable once).
• Record electricity meter on behalf of the the new owner:
– Register a completely new counter: 200 $ (payable once).
– The transfer of the name of the counter from the old owner to the new owner 40 $ (payable once).
• Annual fee by the municipality: 0.1% of the value of the property that is written in Tapu
• Landline Türk Telekom costs 15 $
• Mobile network: 0.05 $ per minute (for local calls).
• Annual insurance for the property (DASK) against earthquakes and natural disasters: 2 $ / square meter.
• Monthly fees for the residence security and housekeeper, water and electricity bills monthly. As for the price of the monthly fee for the residential complex and the cleanliness of the compound, security and other services, the monthly fee differs from one residence to another.
Prices of monthly bills:
– Price per kilo watt of electricity: 0.11 $
– The price of one cubic meter of water: 0.851 $