All about real estate tax in Turkey (2023)

All about real estate tax in Turkey (2023)

Turkey has relatively low property taxes. Both Turkish citizens and foreigners who own real estate in Turkey pay the same taxes. In this article, we will analyze all types of taxes related to real estate.

Also, you can visit our top apartments for sale in Antalya.

Real estate purchase tax

When buying any property, the buyer is required to pay a lump sum. The amount of the one-time tax on the purchase is 4% of the cadastral value of your property (that is, the one indicated in the TAPU). This tax is paid before receiving a title deed (TAPU) at the cadastral center.

Property ownership tax

Property ownership taxes are regular taxes that you, as a property owner, are required to pay annually. The amount of this tax depends on the cadastral value, location and type of property.
1. Residential real estate (apartments and villas) - from 0.1-0.2%. The rate depends on the locality, in small cities this tax will be minimal, and in large ones, for example, like Antalya, Izmir, Istanbul - 0.2%.
2. Commercial real estate. The annual tax rate is calculated according to the same principle as for apartments and villas - for small towns - 0.2%, in large ones - 0.4%.
3. Land plots. The tax rate depends on the type of land:
• Land plots for agricultural purposes in small settlements – 0.1%; in a large city - 0.2%
• Land plot with a building permit in small settlements - 0.3%; in a large city - 0.6%
4. Agricultural land in rural areas: 0.1% tax.
5. Luxury real estate. Apartments and villas are classified as luxury real estate if their cadastral value exceeds 5.25 million TR. In this case, the tax rate is progressive:
• Luxury real estate with a cadastral value between TR 5.25 million and TR 7.87 million is taxed at 0.3%
• Luxury properties with a cadastral value between TR 7.87 million and TR 10.5 million are taxed at 0.6%
• Owners of luxury real estate whose cadastral value exceeds TR 10.5 million are required to pay a fixed amount of TR 22,500 annually and 1% of the amount that exceeds the first threshold (TR 5.25 million)

To find out about apartments that can be bought in Istanbul, Turkey, refer to the page of apartments for sale in Istanbul.

Taxes in case of real estate sale

If you decide to sell your property, you also need to know about the amount of tax paid on the profit from the sale.
When selling real estate, you will be required to pay tax if the cadastral value is higher than at the time of purchase; tax is payable on this difference. The tax rate is progressive - from 15% to 35%.
But if you own a property for more than 5 years, you are exempt from paying this tax.

Taxes when renting out your property

When renting out their property, the owner is required to pay tax on the income received. Real estate rental income is not taxed only if the annual income from residential real estate is 6,600 TR and from commercial real estate is 49,000 TR.
The tax is also progressive and depends on the amount of income minus the minimum non-taxable amount:
• If the amount of income was from 6,600 TR to 22,000 TR, the tax rate is 15%
• If the amount of income was from 22,001 TR to 49,000 TR, you pay 15% from 22,000 TR, and 20% from the remaining amount
• If the amount of income was from 49,000 TR to 120,000 TR, you pay a fixed amount of 8,700 TR from 49,001 TR, and from the remaining amount - 27%
• If the amount of income was from 120,001 TR to 600,000 TR, you pay a fixed amount of 27,870 TR from 120,000 TR, and from the remaining amount - 35%
• If the amount of income exceeded 600,000 TR, you pay a fixed amount of 195,870 TR from 6,000,000 TR, and from the remaining amount - 40%

Among the cities of Turkey, Lania is one of the most popular cities for buying houses and villas. If you want to know about the available prices and cases, you can refer to property for sale in Alanya.

Where taxes are paid

All types of taxes are paid in the local municipality. This can be done both in person and online by registering on the website of the electronic municipal information system. For both cases, you need a TAPU and a passport.
We do not recommend late payment of taxes, as late fees are charged. If our clients have difficulties with paying taxes, our after-sales service includes support - we will tell, show and explain how to pay taxes on your property.

If you have any questions about real estate taxes in Turkey, you can contact Antalya Estate Group.

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