1_ The cost of the property evaluation report or Ekspertiz Raporu
2_The costs of transfer of real estate documents (Tapu)
3_ Costs related to real estate agencies
4_ Property tax
5_Real estate and earthquake insurance
6_ Costs of water and electricity connections
7_ Costs of telephone and Internet connection
8_ Costs of maintaining the purchased property (charging, etc.)
9_Costs related to immigration lawyers
10_ Management of miscellaneous expenses
1_ The cost of the property evaluation report or Ekspertiz Raporu
As we discussed in detail about the Ekspertiz Raporu in the previous sections, this is an important certificate for the transfer of the deed that you will be asked to provide. For more information on Ekspertiz Raporu, please click the link.
Under the costs of buying a property in Turkey, which we will discuss below, remember that this certificate will be a requirement, and its cost will be paid by the buyer. In many cases, the private sector that operates in this field will receive an amount of around 1,500 to 2,500 liras for the cost of issuing an Ekspertiz Raporu.
2_The costs of transfer of real estate documents (Tapu)
1_ Property transfer tax
2_ Translation of identity documents with notarization
3_ The cost of a certified translator
4_ Attorney fee
5_ Cadastral tax
1_ Property transfer tax
For the purpose of cost management at the date of deed transfer, which we have mentioned in the previous sections, and is conducted by the General Department of Land Registration and Cadastre, a sum of 4% of the declared value of the purchased property should be paid as a tax to this department at the date of transfer.
As we mentioned before, in the discussion of buying second-hand houses and market custom, 4% of total price will be charged from the buyer, but for buying newly built and corporate houses, this 4% should be paid equally, i.e. 2%, by both parties.
2_ Translation of identity documents with notarization
At the date of deed transfer, you will definitely need to translate your identity documents such as passport, birth certificate, national Id. card. In this case, you should do the translation of the mentioned documents in advance. Note that if you translate your identity documents inside Iran, which we have mentioned previously, these documents should be duly signed and sealed by the Ministry of Foreign Affairs and the Judiciary. Also, such translations are required to be approved and registered by Turkish consulate in Iran; otherwise, the documents that are translated inside Iran will not be approved by the Turkish notary.
In Turkey, you can have your identity documents registered and translated subject to payment of a fee to the translation offices, and then by referring to the notary offices located in different areas, register them in official notary offices. For the cost of translation and notarization of documents, an amount of 500 lira per person may be paid.
3_ The cost of a certified translator
If you do not have sufficient command of the Turkish language, at the date of deed transfer, you will definitely need a certified translator who must be approved by the Turkish judiciary and whose identity documents have already been approved by the Tapu Department. In such case, a certified translator is mandatory and without his presence, the transfer of the deed will not be processed.
In regard to the certified translator, remember that this translator should be approved by the government and work officially, and if not, he will be prevented from appearing in the Tapu office.
An amount of around 500 liras should be considered for the cost of the translator at the time of the transfer of the deed
4_ Attorney fee (optional)
If you need a person to do the registration and transfer of the deed on your behalf, you should give him a power of attorney and register it in the notary office of Turkey, and as a result, pay the attorney’s fee for the transfer at the date of registration and transfer, and related affairs.
The attorney’s fee may be varied based on the clauses of the power of attorney, but keep in mind the average cost of 250 to 400 liras.
5_ Cadastral tax
The Tapu and Cadastre Registry Office will receive a one-time fee for the DONER SERMAYE, which we have already mentioned. It is around 1300 to 1500 liras, which you will be required to pay at the time of transferring the deed.
3_ Costs related to real estate agencies
In regard to the commission for the purchase of the desired property, you should pay attention to several important points, which we will discuss in details. If you choose a second-hand property for purchase, you are legally obligated to pay 2% of the total amount of the property along with value added tax, which you are required to pay to the real estate agency after completing the purchase process. This amount will be collected from both the buyer and the seller in second-hand houses.
Apart from the second-hand houses, when you may purchase a property from construction project from yourself and/or directly purchase the desired apartment from the owner of the land. In this case, all the costs related to the real estate commission will be paid by the desired company and you will not pay any other fees for commissions and deed or other incidentals. Therefore, in choosing the type of property you want, make sure that in most cases and when you purchase a newly built apartment, the construction company itself is responsible for paying the commission to your introducing agency, and also, and all costs such as registering and transferring the deed.
4_ Property tax
The property tax is recognized in most cities of the world and is collected annually from the owners. Usually, urban municipalities request 2% and in non-urban areas 1% for the annual tax from the owners.
Also, the tax rate on commercial properties is 4% in urban areas and 2% in non-urban areas, which is also collected annually. The purpose of levying these types of taxes by the government is to improve the water and sewage supply, the implementation of legal services and fire control, among other things as stipulated by the law.
5_ Costs of water and electricity connections
For subscription of water and electricity, which is supplied by different private sectors in Turkey, the relevant costs may be varied for different neighborhoods even within different cities.
Subscription fee for electricity connection
If you are applying for an electricity meter for the first time at the power distribution department and the private sector of your desired area, you should pay an amount of 200 to 300 liras as a deposit. If your DASK insurance has expired, the transfer fee will be equal to the amount of the deposit and the additional DASK amount.
Subscription fee for water connection
For obtaining a water meter for a residential unit, if you are applying for a water meter for the first time, you must pay an additional deposit of 775 lira, and if the DASK has expired, the transfer fee is equal to the amount of the deposit and the additional amount of the DASK.
6_ Real estate and earthquake insurance (DASK)
DASK is the insurance related to the earthquake, which is mandatory to be obtained and approved by the Turkish government. This earthquake insurance policy, the cost of which is calculated based on the square meter of the property area, covers the risks caused by fire, explosion, tsunami or landslide during and after the earthquake.
Usually, the cost of DASK insurance is around 150 to 250 liras, which will be different based on the size.
In addition to DASK insurance, which is mandatory, you may insure your desired property with real estate coverage against risks such as fire, theft and some weather damage. Real estate insurance provides the possibility of reimbursing losses to homeowners for such cases.
7_ Costs of telephone and Internet connection
In today’s world, it is very difficult to live without the Internet, and nowadays having an Internet connection is one of the necessities of daily affairs that people pay special attention to. You can access and use high-speed internet that is well managed in this country.
The three main mobile phone operators in Turkey are: Turkcell, Turk Telecom, and Vodafone, which provide such services.
Most of their tariffs are almost similar to each other. Further, they offer very good packages to their customers at some times of the year to attract customers.
In order to subscribe to one of these three operators, you should refer to their representative and you will receive a subscription without paying any fees. At the end of each month, you will be issued an invoice, which will be an average of 130 to 150 liras to be paid.
All three operators will not charge you for installing the internet and modem, which will be provided to you for free at the first opportunity.
8_ Costs of maintaining the purchased property (charging, etc.)
Usually, property owners pay a monthly fee for their purchased property to the managers of buildings or residences or normal apartments for maintenance and upkeep such as charging, the amount of which is very different based on the type of residential unit. In some cases, for the maintenance and repair of the property, an extra amount should be paid to the management of the complex, which is considered as part of the cost of buying the property.
9_Costs related to immigration lawyers
Due to the widespread acceptance of foreign investors to purchase a property in Turkey and their significant presence in recent years to obtain Turkish citizenship and passport, the question of having a suitable lawyer to handle citizenship affairs in Turkey has always been controversial. Some of the groups that are engaged in providing services in the field of real estate in Turkey have experienced lawyers who entrust their clients’ affairs to them and do their clients’ affairs in return to fair fees.
The fee that should be considered for a lawyer is different according to your needs and the request you will have from him, but if you only request your immigration lawyer to follow up on your passport and citizenship issues, this could be around 2000 to 4000 dollars per each family.
If you purchase a property in the top projects of Istanbul with our collection, you may receive a very good discount on this fee.
10_ Miscellaneous expenses
In this section, we tried to fully explain all the costs that you will face for buying a property and convey enough information, but you should also pay attention to the fact that these figures may undergo changes time to time. Therefore, you should always inquire the spot rates upon your presence in Turkey.
In addition to the costs that we introduced separately, be sure to include other miscellaneous costs such as hotel and plane tickets, transportation costs, and other things that you may encounter during your stay in Turkey.
