Is it really more lucrative to buy a house from the project? You have to find the answer to 3 questions to see if you have.
If you have already visited Turkey on holiday, you may know where you want to buy property. If you have not, the great news is that many districts have impressive portfolios of apartments and villas for you to choose from. One aspect to be aware of, though, is the price fluctuations from region to region. For example, a brand new 2-bedroom apartment in Kalkan starts from roughly £90,000 pounds while a brand new 2-bedroom apartment in the Aegean resort of Fethiye is half that price.
As well as a budget for the actual price of property, set aside money for purchase costs including a lawyer, notary, taxes, and relevant fees. Service charges such as lawyers and translators can vary depending on whom you choose to use. Other official costs are also set in Turkish lira, and the amount in your home country currency will change according to exchange rates at that time. So the below are approximate costs only but generally, you should work on roughly 6.5% to cover all fees and charges ( please read below also the assessed value amount you need to pay for the property tax ) . Please note recently title deed transfer tax has been reduced to 3% from 4.4%.
Making the decision to buy property in Turkey is an important life event. Obviously, no one does it on a whim. A fleeting idea of making a lucrative investment or a strong desire to explore the world lays root to the property buying process in Turkey that for first timers can seem daunting.