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ABOUT COUNTRIES
TURKEY
ABOUT TURKEY
History
Climate & Landscape
Culture & Religion
Politics
The Economy
The Property Market
Getting There
BUYING PROPERTY
Getting Started
Buying Off-Plan
Buying From Real Estates
Buy From Developer
The Buying Process
Buying Costs & Foreign Exchange
LIVING IN TURKEY
Visas & permits
Working in Turkey
Costs of Living, Money, Tax & İnsurance
Health, Education & Crime
Food, Shopping & Dinning Out

Buying Costs & Foreign Exchange

The cost of buying a property in Turkey is lower than in the UK. The main costs include a transfer tax of 3% based on the declared value of the property. This is usually shared equally between the buyer and the seller, although a different arrangement can be made and set down in the contract. A registration fee, also based on the value of the property, is paid by the purchaser when the deeds are transferred at the Registry office. If you use a Notary Public, the fees are standard and vary from 100-250GBP depending on the service provided.

If the sale was organized through an estate agent their standard commission is 3% of the sales price of the buyer and the seller. This commission rate may be open to negotiation in some circumstances. Value added tax or KDV in Turkish, only applied to properties bough at auction. You must also pay for compulsory earthquake insurance which is about 35GBP. Finally do not forget to take into account your legal fees.