The property purchase tax is 4% of the selling price, which is generally split between the buyer and seller or agreed upon. VAT is a 1% tax on the purchase price. (If the flat is larger than 150 square meters, the percentage climbs to 18 percent of the sale price)
Subscription costs for utility meters include insurance expenses (electricity, water, communications, gas) which vary from a project to another

In Turkey, a property ownership tax of 4% of the entire property value is levied.

It is only paid once, at the Land Department and Land Registry, when the property is registered in the new buyer’s name and the title deed is issued in his name.

All processes may be finished in a matter of days after selecting the appropriate property and paying.

Yes. A pricing list is available that is the same for both Turkish and foreign purchasers. You may rest certain that all of the projects we’re marketing have the same terms for all purchasers.

Yes. For everyone, the taxes system is the same. When acquiring a home, these taxes should be paid to the government.

No. The base costs are provided by the developers whether you go by yourself or through our company’s consulting. Even yet, because we are specialists in this field, we know how much of a discount you may obtain based on the project. As a result, in most situations, we will assist you in obtaining a lower-than-usual pricing.

When we travel to see the projects, you must have your passport with you. The reservation fee of 1% of the sales price should be paid in cash or by credit card. This will reserve the apartment in your name, freeze the price, and allow you two weeks to make the down payment. This sum will undoubtedly be taken from the down payment.

There is usually always an installment payment plan in place until the tasks are completed. Depending on the project, down payments will range between 20 and 40 percent.

In some situations, the payment plan may terminate even after the job is completed. Payment arrangements for finished projects are occasionally available as well.

Yes, the foreign owner of a property in Turkey receives a yearly real estate residence permit for himself and his family.

Turkey has applied anti-seismic construction regulations and guidelines for the past ten years, allowing structures to withstand earthquake loads of more than 7.5 on the Richter scale. Every stage of any building is subject to state oversight.

Furthermore, fresh new structures are constructed using current materials and construction technology, allowing for cost savings on home heating during the colder months. The majority of buildings are constructed and built with an emergency generator to avoid power outages. Buildings constructed before the 1970s were constructed without regard for rules or the use of modern materials.

The price difference between a furnished house and one that you furnish yourself will be low. If you buy furniture yourself, you may pick precisely what you want and have it delivered in only two days with minimal effort. Many clients, particularly foreigners, prefer ready-made alternatives with pre-installed equipment, or they ask us to assist them in organizing this procedure.

To open a bank account, you must first visit a Tax office with your passport and obtain a Tax number. Following that, you must give the Turkish bank with the following documents: 1- a statement indicating your present residence (this may be an energy or gas bill, or a statement from your bank in your country), 2- your passport, and 3- your tax number.

Because the initial investment in historic city cores is so significant, rental returns will be about 4-5 percent. However, in emerging new districts of Istanbul, this number might reach 7-8%. Furthermore, when you acquire at an early stage of a project, you may be able to get a greater rental return. In addition, the sales price of your house will almost certainly increase by 15-20% every year. When all of these favorable aspects are considered, you may easily make a 100 percent profit on your investment in Turkey within a few years.

This is a fairly typical topic posed by visitors, and there is a major mistake here because neither Taksim nor Sultanahmet are Istanbul’s centers. These are mostly tourism locations.

Istanbul has a population of over 18 million people and 39 districts. Many of these districts have populations of over 500,000 people, and each has its own core. As a result, you will be able to find almost anything you require in your neighborhood.

In Istanbul, there are several English/Arabic teaching institutions in various places, with the majority of students being foreigners. Furthermore, Turkey is becoming an important destination for students who want to continue their studies at a university overseas. Many universities offer courses in both Turkish and English.

Due to the particular that occurred in Turkey during the previous years, this is a topic that has begun to be raised by some of our clients as well.  We can confidently state that Istanbul is a highly secure city in which to live and is currently one of the most popular touristic destinations in the world.

You can nearly always use your credit card everywhere, which is possibly the safest method to shop. Nonetheless, we recommend that you bring some cash with you to pay for taxis or other necessities.

You can purchase a car under the same criteria as a Turkish citizen. However, due to hefty auto taxes in Turkey, we do not recommend it. Instead, there are several rental vehicle businesses that provide competitive rates. Depending on your needs, you can rent a car on a daily, weekly, or monthly basis.

Because the Turkish government want to charge those who purchase mobile phones outside of Turkey, your phone will not operate within months of using a Turkish SIM card in Turkey. To activate it, you must first pay around 2100 TL at a tax office and then provide this receipt to the Turkish GSM operator from where you purchased your SIM card.

Yes, but it is a difficult and time-consuming process that requires approval by the Ministers Council, which is seldom granted. Foreign firms should thus create a Turkish subsidiary, allowing them to acquire and sell properties on an equal basis with other Turkish companies and people.

That’s why, we recommend setting up a company in Turkey, which we would gladly help you with.

The reservation costs you will pay are 100% refundable throughout the two-week reservation term. You have the opportunity to cancel for any reason.

Yes. Anyone of any nationality who buys a property in Turkey owns it freehold / with all of its rights.

Yes, we can introduce you to experienced English speaking lawyers here in Turkey.

Some developers provide furnishing packages and bundles, however we can introduce you to top home interior designers and assist you free of charge.

Some properties are managed by professional firms, while others are handled by developers or the owners themselves; Prestij Consulting does offer  property managing services as well.

We can help you fix a specific exchange rate that protects your property value in the contract.

The appraisal report protects against expensive property sales. When a property is purchased, the Land Registry and Cadastre require an SPK certified Valuation Report as confirmation that the acquisition was done at the correct price. Your addressee is the Land Registry and Cadastre’s Direct Real Estate Appraisal Department. The procedure takes between 3 and 6 days.

Title deed offices require appraisal reports that have been completed within the past three months. If our clients’ “appraisal reports” validations expire, Prestij Consulting will assist them renew their reports for free.