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...
In January 2023, 97 thousand 708 properties were sold in Turkey When compared to the same month the year before, the number of properties sold in Turkey climbed by 10.6% in January, reaching 97,708. 17.8% of all properties sold in Turkey came from the 17,415 real estate sales in Istanbul. Both Ankara and Antalya saw total home sales of 8,808 and 5,572, respectively, making them the second and third most...
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...
On January 24, 2022, the Turkish government announced a new amendment regarding real estate purchases for foreign buyers. The regulation mandates that the sales amount of the property must be converted into Turkish Lira through The Central Bank of the Republic of Turkey. A Foreign Exchange Document must be obtained before the sale is executed. Foreign Exchange Document The Land Registry Office will...
Foreign Investment in Turkey - Official Figures According to official Turkish statistics, between 2003 and 2017, foreign investment in Turkey grew exponentially. Foreigners bought properties worth 42 billion USD in Turkey. The real estate sector saw a significant increase in interest from foreigners before 2013, when a new law eliminated the need for reciprocal buying rights between nations, making it...
Title Deed Procedure Changes for Foreigners Previously, foreigners who wanted to purchase property in Turkey had to obtain approval from military units in order to get their Title Deed (Tapu). However, a law passed on October 8, 2013, eliminated the need for approval for other apartments in the same building or parcel once one had been approved. Properties located on unapproved parcels, however, still...
Turkey offers Real Estate Investment Prospects with New Projects The Managing Director of Ideal Estates Abdurrahman Kaya stated that the Turkish real estate market has experienced rapid expansion over the past several years and has become a permanent fixture on the global real estate landscape, possibly at the expense of other, more traditional locations like Spain. In this article, we will discuss the...
