Understanding Turkey's New Compulsory Earthquake Insurance (ZAS) "Compulsory Earthquake Insurance" ZAS is a type of insurance in Turkey that covers damages to buildings caused by earthquakes. The purpose of this insurance is to provide financial protection to property owners against the effects of earthquakes. ZAS was introduced as a replacement for the "Turkish Catastrophe Insurance Pool" (DASK),...
Turkey has emerged as a popular destination for foreign property buyers, and Belgian investors have shown a keen interest. The country's strategic location, rich cultural heritage, and booming economy make it an attractive choice for those looking to invest in real estate. Apart from the alluring lifestyle and diverse landscapes, there are several tax benefits that foreign buyers from Belgium and other...
Real estate notary sales are now possible in Turkey. According to new legislation, Turkish notaries may now handle real estate transactions in addition to working with land registry offices. An important part of the Turkish economy is the real estate industry. It accounts for around three million of the 15 million transactions that Turkey's land register offices handle annually. Yet, the increased...
Benefits of Mortgage Finance for Foreigners Purchasing a Home in Turkey Mortgage Finance for Foreigners provides the simplest financing options for non-Turkish Residents who want to buy a home. Characteristics of Foreigners' Mortgage Finance At reasonable profit and allocation fee rates, a different payment schedule with a maximum duration of 120 months can be created. Up to 75% of the expert...
Rental Revenues Individuals' net rental income is liable to income tax at progressive rates. Nonetheless, a specific threshold amount is free from taxation if the property is rented out as a residence. Either the lump sum approach or the actual deduction method can be used to work out net rental revenue. The actual deduction method subtracts actual costs from the gross rental income, including...
The Progression of the Relaxation of the Rules The Turkish real estate market didn't originally allow international purchasers until 2002. However according to the "reciprocity clause," only inhabitants of nations that granted Turkish citizens reciprocal rights, such as Britain, Germany, and the Netherlands, were permitted to own property, and they were only permitted to do so in a select few zones. The...
The actual cost of real estate is not heavily taxed in Turkey, however, there are costs associated with the transfer phase of the transaction. The Yearly Property Tax is the sole tax related to real estate that must be paid annually in Turkey. The annual property tax varies depending on many factors. You must provide the Turkish government with an extra yearly tax if you own property there. Turkey's...
Current Public Notary Fees 2023 | Power of Attorney Notary Fees The most recent list of notary costs for the year 2023 has been released. Prices for general Power of Attorney (POA) and notarization of property title deeds and automobile transactions are regularly requested in the modern day. This year, 148.50 TL was set as the administrative paperwork charge. The notary public receives 171 TL on the sale...
Restricted Areas for Residence Permit Applications in Turkey Living in Turkey as a foreigner can be an exciting prospect, but it comes with its own set of challenges, particularly when it comes to securing a residence permit. The Turkish government, to strike a balance between local and foreign populations, has implemented restrictions and Restricted Areas for Residence Permit Applications in certain...
Ideal Estaest, with its extensive experience in the construction and real estate industry, caters to both domestic and foreign real estate investors in Turkey. We provide services for the sale of housing and land, as well as investment consultancy. With a growing demand from foreign investors, we offer a diverse range of high-quality luxury portfolios. These attract investors from Europe, the Middle East,...
