Turkey is known for affordable housing prices, and this also applies to the costs related to purchasing a home in Turkey.
Title deed (Tapu)
Prior to the purchase of your future property in Alanya, there are requirements for certain documents that must be submitted together with the application to the Tapu office before the title deed of your new home in Turkey is registered in your name.
When buying properties in Turkey as a foreign national, the property must be valued by an independent expert. A currency exchange certificate from a state bank is required, which in practice means that the value of the property declared in Tapu must be exchanged with the National Bank. Your passport needs to be translated by a licensed notary translator. In addition, an official document from the municipality is required which declares that all property taxes have been paid and that the property has no tax liabilities.
Before the title deed is registered in your name, a one-time tax is paid to Tapu, which is 4% of the assessed value declared in Tapu on your future home in Alanya. In addition, a state administration fee is paid for the litigation process and the costs of a sworn translator who will present at the title deed ownership transfer.
• Expert valuation report: 6.000 TL
• Municipal document declaring property tax: 1.000 TL
• Fee for application and follow-up of Land Registry: 1.000 TL
• Administration fee: 3.750 TL
• Currency exchange certificates from the National Bank: based on current exchange rate
• Licensed interpreter for TAPU ownership transfer: 2.000 TL
• One time tax to TAPU: 4% of the property's assessed value
Iskan
"Iskan" is a technical passport for a property in Turkey, which proves that the property is built in accordance with the building legislation for properties that will be used as residences. There are 2 different types of Iskan: general (for the building) and personal (for the home itself). If the property does not already have Iskan, the buyer bear the costs of obtaining this. The price for Iskan is based on square meters, but is usually between 1200-3000 Turkish lira.
Corall Estate always ensures that the property and the building have Iskan before your purchase.
Property tax
A state tax of 0.1-0.2% of the property's assessed value is paid annually to the city hall. This must be paid before the end of May.
Property insurance
It is compulsory to sign up for an earthquake insurance ("DASK") on all homes in Turkey. Estimated value of this insurance is about 75 Turkish lira per year. A home insurance for the home is not mandatory, but of course preferable. Here you can read more about home insurance.
Electricity and water subscriptions
Electricity:
Initial registration costs 450-550 TL, re-registration: 120 TL
Water:
Initial registration costs 410-500 TL, re-registration: 100 TL
Prices stated above are approximate, contact us for up-to-date prices and information.
-We reserve the right to any price and rule changes-
