CLOSING COSTS
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Closing Costs

Purchasing a property in Istanbul
Ongoing& Closing Costs

Title Deed Expenses

Tapu( the free hold title deed) is an official document that shows you own a property completely. It is prepared on your own name and shows complete ownership rights in real estate in Istanbul or ant place in Turkey. The document of free hold title deed shows: your photograph, your full detailed information and property’s detailed information mentioned in the document.

ou pay approximately 4% of your property value to title deed office to get your document as expense. We advise you to ask about your projects extra expenses for the title deed to your real estate consultants for being sure.

Notary Fees

A notary is person who is licensed by the government to approve documents and signatures for legal affairs. You use the notary approved translation of your passport in the future for opening bank account or other legal issues or getting your tax number from tax office or getting your title deed.
The notary also approves the buying contract between the seller and the buyer of the property. The fees for notary can change regarding the volume of your file. We will be guiding you as real estate experts for your title deed expenses and also extra fees.

Taxes


Value Added tax (VAT) is a kind of consumption tax. It is calculated on your purchasing price. Regarding the new regulation that published by Turkish Government, VAT can be calculated 1% or 18% according to your property’ registration date. Now with the new law, the VAT payment is 18% in all projects.
There is also one another tax. Stamp tax. It is required for legal document. You have to declare your each one of your contract or agreement to Government’s Office. Stamp Tax is generally paid before property’s delivery. And it is calculated 0,948% of your purchasing price for your declaration.

Annually property tax

he owner pays annually property tax for ownership of a property. It is calculated referring the price of the property. It is approximately 0,1% and it is paid to municipalities every year.

TAV and Stamp Duty Tax taxes are paid only one time with the purchase. Property tax is annual.

Subscriptions and Insurances


If you buy a property in Istanbul there is a compulsory insurance for every person. DASK( earthquake and natural disaster insurance) is compulsory and anyone who buys a property in Istanbul, has to pay this insurance. DASK is calculated regarding the size of your property. The price can change between 40 TL-300 TL. If you don’t pay this insurance, you can’t subscribe to household utilities like gas, electricity and water.
There are also some other extra expenses for your subscriptions. You pay deposit for your electricity, water, gas and telephone subscriptions and those rates can vary. It is usually costs between 1500-1700 TL regarding your connection. And the bills are calculated on your monthly usage.

Maintenance Fees

And for the last, there is a maintenance fees which are paid monthly. It is calculated depending your property type and facilities of the complex.

Maintenance Fees
And for the last, there is a maintenance fees which are paid monthly. It is calculated depending your property type and facilities of the complex.
In general, maintenance fee is calculated on per sqm and it changes between 1-2 USD per m2. The owner pays the maintenance fee. If your property is rental, the tenant is responsible for the maintenance fee.

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