Cost of Buying Property in Turkey
Turkey is now attracting more nationalities than ever before which results in more properties being purchased throughout Turkey. It comes as no surprise as Turkey is one of the most beautiful countries in the world and yet still awaiting to be discovered by many a budding tourist and property investor.
The cost of buying property in Turkey can differ from region to region, however lower property prices are attracting overseas buyers, in particular the British, German and Russians are high investors along with Middle Eastern Purchasers.
Along with the low cost of property, low cost of living is also a great attraction. On average living costs are 50-60% below that of the UK, which allows a retired couple or persons to live comfortably on their pension or savings.
The cost of Buying a home in Turkey will vary between regions and towns, but on average we advise you to budget approximately the following:-
Legal Fees: Included if using our own Independent Lawyer
Property Purchase Tax (stamp Duty) 4.2% of the price of the property
Land Search Fee 485 GBP
Land Registry 200 GBP
Estate Agency fee 3% (paid by the seller)
Notary costs (legal documentation stamp) 200 GBP
Transfer of utility names 175 GBP
Now that you are fully aware of the buying process and purchasing costs, viewing trips to turkey with Tengri Estate are a great way to search and select your perfect home in the Sun.