You own the apartment in Turkey – what's next?

Oh, you decided to become or already became the owner of the apartment in Turkey? Congratulations. Allow RestProperty to let you know some aspects of life in an own apartment in Turkey:

Firstly, you will need to pay annual tax on garbage removal. Its size is defined by local municipality and depends on an arrangement and the sizes of your apartment. As a rule, it small also can seldom exceed 90TL. Such tax is paid for the place of residence.

Secondly, if you buy apartments in Turkey that are located in a housing estate, know that it will be necessary to pay still and the maintenance of this complex. Payment by agreement – monthly or one-time is collected. The maintenance of a complex includes, as a rule, cleaning and care of the general territory, protection, the maintenance of pools, etc. The size of such contributions is established by management company, or define at meeting of inhabitants of a complex. Price is minimum 30TL in a month.

Thirdly, it is necessary to pay monthly utility payments. The electricity and water are paid on the meter. At continuous accommodation on the average the contents costs 240-250TL.

Fourthly, having become the owner of the apartment in Turkey for its leasing, it is necessary to consider that it is necessary to pay tax as well. For payment of such income tax from delivery of the house, the apartment in rent the owner of housing will need to be registered in tax authorities and every year to declare gained income.

Fifthly, if you decide to sell real estate, but owned it for less than 5 years, it will be necessary to pay a profit tax (a difference from the price of the realised object specified in TAPU and you established new price, approved by municipality). On real estate which is owned for more than 5 years, the tax isn't paid.

Author: RestProperty

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Published: 06.04.2012