Overview of Initial Costs When Buying a Villa in Turkey
▸ Deposit / Down Payment: Usually 5–10% for ready villas; 30–50% for villas under construction (depending on the payment plan).
▸ Title Deed Transfer Tax: 4% of the declared property value at the Land Registry (usually paid by the buyer).
▸ Land Registry Service & Revolving Fund Fee: Approximately 2,000 – 10,000 TL (varies by city and year).
▸ Official Valuation Report: Approximately 7,000 – 20,000 TL (depends on villa size and location).
▸ Compulsory Earthquake Insurance (DASK): Must be obtained before the title deed transfer; around 500 – 5,000 TL (depending on the villa’s square meter size).
▸ Sworn Translator Fee: Mandatory for foreign buyers; approximately 1,500 – 4,000 TL.
▸ Real Estate Commission: 2% of the sale price + VAT (in some projects, it may be covered by the seller).
▸ VAT (Value Added Tax): Generally 1%, 10%, or 20% for new villas (usually no VAT for second-hand villas).
▸ Bank & Money Transfer Fees (SWIFT/FAST/EFT): Typically 20 – 150 USD or around 0.1% – 0.3%.
▸ Notary Fees: (For Power of Attorney or Preliminary Sales Agreement) approximately 2,000 – 15,000 TL.
▸ Official Translations & Certifications: Around 500 – 2,000 TL for passport and other documents.
▸ Utility Subscription & Deposit Fees (Water/Electricity/Natural Gas): Approximately 2,000 – 15,000 TL (depending on villa size).
▸ (Optional) Mortgage Costs: Bank file fee of 0.5% – 2% + mortgage registration fee.
Notes:
• The amounts above are average market ranges and may vary depending on the city, villa type, and yearly regulations.
• For citizenship-based purchases, a Foreign Exchange Purchase Certificate and additional procedures are required.
• It is recommended to complete all payments and prepare receipts before the title deed transfer day.