SimplyTR Explains
What Does It Really Cost to Buy Property in Turkey?
The listing price isn't the final bill. The closing costs foreign buyers should budget for in Turkey: title deed fee, agent fee, translator, notary and lawyer, DASK insurance and utilities, plus the 0% VAT exemption for qualifying new builds, with a worked example on a $250,000 apartment ($16,400). The valuation report is only needed for residence permit or citizenship applications; every foreign buyer needs the bank's foreign exchange certificate.
The full story.
English transcriptWhat does it really cost to buy a home in Turkey?
This family found their apartment in Istanbul, for $250,000. But the listing price is not the final bill.
Plan for an extra 7–10% on top of the price.
First, the title deed fee: 4% of the declared value. By law it's split with the seller, but buyers often pay it all. So agree on it in writing.
Second, the agent fee: 2%, plus VAT. On new builds, the developer often covers it.
Third, the valuation report. You don't need it for a standard purchase, only if you apply for residence, about $800, or citizenship, about $1,500. What every foreign buyer does need is the foreign exchange certificate from the bank.
Fourth, a sworn translator, a notary, and a lawyer who checks for debts before you sign.
And after the keys: earthquake insurance, called DASK, and your utility connections.
Buying new from a developer? Non-resident foreigners paying in foreign currency may qualify for 0% VAT, if they keep the home for at least a year.
For a typical resale at $250,000, that's about $16,400 in closing costs. Applying for residence? Add the valuation report.
Budget for it on day one, and closing day is just signatures and keys.
Get your personal cost breakdown. Book a free consultation at simplytr.com.
General information only, not legal advice. Timelines and costs vary by case.
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