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Apartments for sale in istanbul 

VAT Regime for the Sale of Apartments in Istanbul:

The report of Jones Lang LaSalle (2018) states that if the seller produces a corporate revenue from the sale of the property, the value added tax (" VAT ") will also apply to the sale transaction. This complements the financial obligations set out in the table above. The VAT ratio relies on the net real estate area. The VAT payer is the seller in principle. Since VAT is a tax that can be passed on to the other party, the seller usually adds the VAT amount to the selling price in order to create a combined selling price. This results in the purchaser paying the VAT amount.

What is TAPU?

TAPU is a legal document setting out the absolute right of ownership of the property acquired in Turkey. The registration and obtaining of the TAPU, title Deed, takes 1 to 3 days for a foreign citizen. The basic rule for buying is that the full purchase price must have been reimbursed on receipt of benefits of the TAPU by the buyer (Jones Lang LaSalle, 2018).

1

Province

2

City

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District

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Settlement

5

Street

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Locality

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Number of development lot

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Real estate type

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Total area of the development

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Boundaries

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Type of ownership

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Cadastral value

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Purpose of the real estate

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Owner's land share in a real estate

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Block

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Floor

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Apartment number

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Former owner and the reason for the Title transfer

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Real estate owner

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Number in the cadastral register

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Date of the Title transfer (registration of the Tapu)

22

The signature of the Head of the Tapu Office or a person authorized to sign on his/her behalf

 

Sales Numbers & Prices:

Property sales gradually increased between 2013 and 2017. Istanbul has held the lion share (18 percent) in property sales since the beginning of 2013 because of the size of its population. In 2017, Ankara recorded 150,000 units sold, while Izmir, Antalya and Bursa followed Istanbul and Ankara with property sales of 6 percent, 5 percent and 4 percent, respectively.

In terms of average house sales, prices in these leading cities, Izmir, Antalya, Muğla, Yalova, and Sakarya surprisingly outpace Ankara.

Looking at the price-to-rent ratio, which is a measure of the affordability of renting and buying in a given market through calculating the ratio of home prices to annualized rent, Istanbul, Muğla,Yalova, and Trabzon exceeded the average over the past 20 years, indicating that renting is a better choice than buying in those housing markets. Ankara, Izmir, Antalya,Bursa, Sakarya, and Mersin have almost the same price-to-rent ratio between 17 and 19 years, while Aydın stands out as a favorable city to homebuyers with lower ratio circa 13 years.

Where are the best places to buying property in Turkey?

Aside from Istanbul, Antalya, Trabzon, and Bursa, cities that are famous for their touristic destinations, such as Aydın,Muğla, Sakarya, and Mersin, have also found favor among foreigners over the last few years.