Turkey is a peninsula surrounded by four seas – the Black sea to its North, the Mediterranean sea to its South, the Aegean Sea to its West, and the Sea of Marmara between the European and Asian sides of its land. With beautiful architecture, rich history, a warm and comfortable climate all year round, the country has something to offer everyone seeking to live there.
Turkey has been positioned at 78th in GCS’s Investment Index, showing that investments in the country’s immovable property can be worth anyone’s while. By investing in Turkey’s property market, you will have the chance to successfully apply for Turkish Citizenship.
When you buy property, you are required to pay Turkey property taxes when you receive a title deed, or “TAPU”. This usually comes at a rate of 4% of the purchase price. In most circumstances, it is split in half so that the buyer and seller each pay 2%. When you acquire a brand new apartment from a developer, for example, taxes are usually shared at a 50-50 tax rate. When purchasing a resale property from an individual, however, the buyer is normally required to pay the entire 4%.