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Overview of the Real Estate Market in Istanbul Istanbul stands as an attractive hub for real estate investments, primarily due to its unique position between Europe and Asia. This strategic location enhances its appeal in terms of transportation facilities, tourism, entertainment options, and convention tourism, making it ripe with real estate opportunities. 

Having a property in Turkey can be exciting, but learning the tax system might feel overwhelming. Do not be afraid! In this article, we delve into the different types of real estate taxes in Turkey, providing clarity on their implications and how they are calculated. From annual property taxes to capital gains and inheritance taxes, each tax serves a distinct purpose within the Turkish tax system. Whether you're already a property owner or an investor looking for new opportunities, understanding the fundamentals of Turkish real estate taxation is essential for informed decision-making a...

General Expenses of Buying a Property in Turkey The main expenses when buying a property in Turkey consist of two parts: the price of the property itself and the costs associated with its registration. The specific costs associated with registering property in Turkey vary depending on the type, size, and value of the property. Here is a general list of the main expenses: Sales Tax: There is a total sales tax of 4% on property purchases, sometimes split between the buyer and seller. Annual Property Tax: Approximately 0.2% of t...

The Turkish Statistical Institute (TUIK) has published the report on property sales statistics of 2023. A Total of 1,225,926 Properties were Sold in Turkey, 2023 In 2023, Turkey witnessed the sale of 1,225,926 residential properties, marking a 17.5% decrease compared to the previous year. Istanbul led the sales with 198,739 properties, accounting for 16.2% of the total sales, followed by Ankara and Izmir with 114,432 and 65,465 sales respectively. The lowest sales were recorded in Ardahan, Hakkari, and Tunceli.

Turkey has recently become one of the best destinations for those seeking a second home. This picturesque country which has breathtaking landscapes, an enormous amount of historical places, and is renowned for its warm hospitality has gained the hearts of both investors and holidaymakers. However, before talking about the exciting journey of buying a second property in Turkey, it is crucial to review some basics. The questions in your mind should not be overlooked and must be answered. For example, you have decided to buy a second house, but do you know the taxes for buying a second home? O...