Cost of Buying Property in Turkey
The cost of buying property in Turkey varies depending on location, property type, and additional expenses. Major cities like Istanbul, especially in upscale areas like, have higher property prices, ranging from €3,000 to €10,000 per square meter. Coastal regions like Antalya and Bodrum also attract buyers, with prices ranging from €1,000 to €5,000 per square meter. In addition to the purchase price, buyers should budget for extra costs such as a 4% property purchase tax, notary and legal fees, appraisal reports, and real estate agent commissions.
Turkey has become an increasingly popular destination for real estate investment, thanks to its strategic location, booming tourism industry, and attractive property prices compared to Europe and other global markets. Whether you’re looking for a vacation home, rental investment, or planning to relocate, Turkey offers a diverse property market with options that cater to all budgets. In this blog post, we’ll explore the key factors that influence the cost of buying property in Turkey and provide a detailed breakdown of expenses involved.
When buying property in Turkey, it’s important to account for several additional costs beyond the property’s purchase price. These include:
-
Property Purchase Tax: Buyers must pay a property purchase tax of 4% of the property’s value, usually split equally between the buyer and seller. This tax is calculated based on the property’s registered value, which may be lower than the market price.
-
Notary and Legal Fees: It’s essential to hire a lawyer to ensure the transaction process goes smoothly and all necessary documents are in place. Legal fees usually range between €1,000 to €1,500. Additionally, notary fees for registering the title deed (Tapu) will cost around €100 to €300.
-
Appraisal Report: Since 2019, it has been mandatory for foreign buyers to obtain an official appraisal report. This report provides a government-approved valuation of the property and typically costs around €200 to €500.
-
Real Estate Agent Fees: If you work with a real estate agent, their commission is usually around 2-3% of the property’s sale price. This fee is typically paid by both the buyer and seller, amounting to 6% of the total property price in some cases.
-
Maintenance and Management Fees: Many apartment complexes and residential buildings in Turkey charge maintenance or service fees, especially if they offer amenities such as pools, gyms, and security. These fees can range from €20 to €100 per month, depending on the property.
-
Utility Connection Fees: When you purchase a property, you’ll need to pay for the connection of utilities such as water, electricity, and gas. Connection fees typically range from €200 to €500.
English 
Russian