How much does the maintenance of Turkish real estate cost?

Buyers of Turkish real estate will probably be interested in payments of the apartment maintenance and what the costs are borne by the owners of the property. The source – https://turk.estate/en/ – will tell you more about this.

Learn more about owning Turkish real estate

A pleasant discovery for many will be the fact that real estate costs in Turkey are lower than in Italy, France, Spain and other European countries. There are property taxes here, but there is almost no difference between non-residents and citizens. Very often foreigners pay the same amount.

As for payments, foreigners are responsible for their timely repayment. After the purchase of housing, the new owner deals with utilities and payment schemes.

Taxes and annual fees

Buying apartments in Turkey does not incur special expenses for non-residents. The amount of the annual tax directly depends on the type of real estate. The rate is usually from 0.1 to 0.6%.

 

It should be borne in mind that tax rates depend on the cadastral value of housing. On average, an apartment in Turkey pays up to EUR 100.

Fee for garbage collection

In addition to basic taxes, property owners in Turkey also pay small municipal fees, in particular for cleaning the territory and timely garbage collection. On average, it costs from EUR 10 to EUR 40.

Payment for the maintenance of the residential real estate

People living in residential complexes and communities in addition to meters regularly pay for maintenance: pool cleaning, maintenance of elevators, as well as cleaning of the common area. The size of the IDAT can vary from EUR 10 to EUR 100. It depends on the status of the residential real estate.

Utilities

As an example, let’s give an apartment in a new residential real estate in Alanya. On the territory of the development project there is a swimming pool, sauna, fitness room and a playground. The area of the apartment is about 70 sq. m. The cost is EUR 55,000. The sea can be reached on foot in 5-7 minutes.

There is an approximate cost of payments:

  • Annual tax is about EUR 110;
  • Garbage collection is EUR 20;
  • Maintenance of the surrounding area –IDAT) is around EUR 300 per year;
  • Water is EUR 16 per month (EUR 192 per year);
  • Electricity is EUR 70 per month (EUR 840 per year);
  • Internet + TV are EUR 30 per month (EUR 360 per year);
  • Earthquake insurance is EUR 50 per year.

According to statistics, electricity in Turkey is one of the most affordable. It is about EUR 0.08 kilowatt/hour.

To buy real estate in Turkey

Are you looking for a property in Turkey for vacation or investment? Pay attention to the range of properties on Turk.Estate. Here are properties of any type in the most popular cities from the leading developers of the country. You can learn more about the process of finding and buying Turkish housing from the manager on the website. The specialist will provide comprehensive support in the process of searching for real estate, as well as organize a safe transaction with the owner.