Pay taxes
What taxes and payments expect foreigners in the course of real estate purchasing in Turkey?
We will tell directly: foreigners in case of real estate acquisition in Turkey pay the same tax, as well as citizens of the Republic of Turkey. In 2013 it constitutes 4% of real estate value.
Besides it is impossible to purchase real estate in Turkey without receipt of permission from military bodies, on the average it is necessary to pay €260-315 (cost can change the solution of the state) for it. Expenses on registration of the rights on real estate average €220. And about €100 more - €300 should be paid for renewal of counters of water and electricity addressed to the new owner of housing (depending on, whether technical data sheet is arranged already, whether the builder at own expense arranges it, and also quotations of the specific city hall in which prefecture there is an acquired real estate object).
For comparison.
The Knight Frank agency conducted the international research, which purpose – to reveal the cities with the most heavy taxes on real estate acquisition.
The first place of this rating was taken by Hong Kong. Taxes and fees which it is necessary to pay to buyers of real estate in this city, sometimes constitute a quarter of cost of the purchase. Foreigners are expected thus by additional expenses in the form of the stamp tax and the property tax.
On the second place – Singapore. Here foreigners, buying housing, are forced to pay 19,3% of taxes and fees. The main part of this amount is constituted by the higher in the world the state fee – 18% of a project cost.
London takes the third place in a rating. Additional expenses upon real estate purchase in this city will constitute 7,9%. Nevertheless, London doesn't become from it less attractive to foreign investors. Last year British purchased only 27% of new houses in prestigious districts of the capital of the country, other was purchased by foreigners.
Except from London and European cities researchers allocated Geneva from 4,5% of taxes and fees.
Author: RestProperty
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