The first thing to consider when buying a property in Turkey is the additional costs in addition to the price of the property. Some of these costs will be one-time and non-recurring, and some will be continuous, such as property taxes and maintenance fees. The ongoing costs are low compared to the European Union countries and do not constitute a great burden on The owner, and it is advised to allocate an amount of about 8% of the property price to cover additional expenses upon completion of the purchase process.
In this article, we will talk about the costs that are paid in addition to the price of the property.
Property purchase tax:
The property purchase tax amounts to about $4 of the estimated value of the property, and this value is usually about $60 of the purchase price, and this tax is paid only when the property is registered in the name of the new owner, and in the case of buying a property on the scheme, this tax must not be paid Tax until the completion of the construction process and the official registration of the ownership of the property for its new owner.
Lawyer and legal procedures fees:
It is recommended to hire a lawyer when buying a property in Turkey to ensure the safety of the purchase process from fraud and deception of the buyer, and due to the services provided by the lawyer and his guarantee of the smooth and speed of the purchase process, what he charges for this is a good amount and does not impose a large cost on the client, as The lawyer charges between 1200-1800 euros for his services, and the amount can vary according to the services he performs and the complications that may face the course of the transaction, and there are some legal fees that must be paid when signing the purchase contract for the new owner.
Licenses and Legal Approval:
The costs of legal approval and other paperwork are about 500 euros, and these fees are low in Turkey compared to other countries where the costs of legal licenses may reach 20% of the property price, and this is what makes buying real estate in Turkey more attractive to investors and people Who are looking for homes to stay or vacation.
Property maintenance fee:
Any property needs periodic maintenance, no matter how good the owner’s management is, some malfunctions are bound to occur, and if the property owner is not residing in Turkey, he must certainly ensure the safety of the property and that it receives periodic maintenance and good ventilation, especially if the property is close to The sea, and the maintenance of real estate in Turkey is not expensive, as it is possible to obtain good services at reasonable prices, especially if the appropriate maintenance company is chosen to take care of your property, and the cost of maintenance and care of the property in general is about 800 euros per year and can increase according to the type of property.