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Investing in Turkish real estate can be an exciting venture. However, understanding the full range of costs associated with purchasing a property in Turkey is crucial for making an informed decision. Homes Gravity is committed to providing clarity on all costs – both apparent and hidden – and even offers to cover certain expenses for our clients. Here’s a comprehensive overview of what to expect financially when buying property in Turkey, along with how Homes Gravity can help ease the burden.
The most obvious cost is the price of the property itself. Prices vary significantly based on location, property type, and amenities.
As of the latest regulations, the title deed transfer tax in Turkey is 4% of the declared value of the property. This cost is typically split equally between the buyer and the seller.
Real estate agency fees in Turkey are generally around 2-4% of the purchase price. At Homes Gravity, we offer transparent pricing and clear communication about any fees involved.
Notary fees for the legal paperwork involved in property transactions are relatively modest but should still be factored into the overall cost.
A valuation report is mandatory for foreigners buying property in Turkey. The cost of this report varies but is generally around 1,000-2,500 Turkish Lira.
Earthquake insurance, known as DASK, is legally required in Turkey. The cost depends on the property size and location, but it’s usually not a significant expense.
Setting up utilities such as water, electricity, and gas involves nominal fees. These are usually straightforward and not overly burdensome.
For properties within a complex or development, monthly maintenance and communal fees apply. These fees cover services like security, cleaning, and amenities upkeep.
The cost of traveling to Turkey for property viewing and purchase formalities can vary widely depending on your location and the time of year. Flight prices fluctuate, so early booking is advised to get the best deals.
Accommodation costs during your stay in Turkey will depend on your choice of hotel and length of stay. Prices range from budget to luxury options.
To ease the financial burden on our clients, Homes Gravity offers to cover certain travel and accommodation costs for foreign homebuyers coming to Turkey. This support is provided to ensure that you can focus on finding your dream home without worrying about these additional expenses.
We provide free transportation services, including airport pickups and drop-offs, and transportation to property viewings. Our aim is to make your property purchase experience as comfortable and stress-free as possible.
Our team takes care of all the necessary paperwork, legalities, and bureaucratic processes involved in buying a property. This service is designed to save you time and reduce administrative burdens.
Purchasing property in Turkey involves various costs, but with the right guidance and support, the process can be much less daunting. Homes Gravity is dedicated to ensuring that your journey to owning a property in Turkey is smooth, transparent, and cost-effective. Our commitment to covering certain expenses and providing complimentary services underscores our dedication to your satisfaction and peace of mind. Trust us to be your partner in realizing your dream of owning property in Turkey.
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