Frequently Asked Questions

Frequently asked questions

Am I the owner if I buy a property in Turkey?

- By the reciprocity principle you are the owner of the property in Turkey and the house is in your name.

Can I rent my house in Turkey?

- Yes, this is allowed. If you have purchased a property you own and you can rent the property safely. If your home is part of a complex then you must take the rules of the association of owners. The rules may still contain points that you must observe.

Do my children inherit the house in Turkey?

- Yes, the inheritance in Turkey is the same as in the UK. If you die, your children will inherit the house in Turkey

Purchase costs house Turkey

The purchase costs vary from region to region and from sales to sales. The easiest way to get an idea of the costs is as follows.

1. 4% transfer tax Turkey

2. about 2% other purchase costs Turkey

3. brokerage fees Turkey 3%

Annual costs house Turkey

The annual costs vary considerably and depend on the surface of the house, the location and any facilities in a complex. For a 2 bedroom apartment with an area of 100 square meters in a complex with various facilities you pay approximately € 600, - per year.

LOts of British are considering buying a second stay in Turkey and then renting out an additional income. 

A number of questions about taxes are pressing for this. Your second stay abroad, in this case Turkey, falls under your assets. Our assets fall within our British tax system. 

Rentals second stay Turkey. 

If you rent out your house in Turkey you will have rental income. You already pay tax on a fictitious return (estimated rental value, cf. cadastral income) on your second stay in Turkey, the actual rental income in Brits is therefore exempt from tax.

The tax authorities in the UK want to know what the estimated rental income per year of your house / land in Turkey is.

For built-up plots (an apartment, a villa) you enter a relevant sum in box 130 - for vacant lots (a plot of land) you enter a sum in box 131. There is no exchange agreement between UK and Turkey. 

You must indicate this spontaneously. Even if you do not rent, or if you do not have any income from your real estate, you must enter an estimate here. Compare it with what we know as 'cadastral income' that you determine in this case. The message seems to be reasonable here. This sum will then be included in your taxable income and you will be taxed at the tax rate of your highest bracket.

Your second home in Turkey taxed in Turkey

In Turkey, you pay the annual real estate tax. This is usually 0.1% of the registered value (tape value). In addition, you must pay income tax if you have income from your home. This can be done in 2 ways:

1. You sell your 2nd home within 5 years. You will then have to pay income tax from the profits you made on the sale of your second home. 7,700 TL is exempt from tax.

2. You get income from the rental of your second home Turkey. The income from the rental of your home in Turkey is exempted to 4,400 TL in 2018.