Real Estate For Sale Istanbul – The Cost Of Buying In Istanbul
Real estate for sale Istanbul – are you interested in finding a property in this vibrant city? Of course, when making such an investment, there is always a lot that needs to be considered. One area where you cannot afford to fall short or make a mistake is with regards to the costs that are entailed.
Needless to say, when looking for property for sale in Turkey, you will need to work with a quality estate agency, and they will be able to advise you on the different costs that you might incur. However, it is a good idea to know your budget in any case, so you know what you can and cannot afford. After all, when buying any property, it is not just the asking price you need to think about. Firstly, you will have legal fees, which are typically a minimum of £500 in Turkey. You will also need at least £200 for Notary costs, which include the Power of Attorney. Utility fees will start from around £150, and most estate agency fees start from roughly three per cent if you are buying a re-sale property. You need to also pay Property Purchase Tax to the government, which is pretty similar to Stamp Duty. This is liable to change, but at the moment is 4.4 per cent. The good news is that it is not 4.4 per cent of the purchase price, but rather 4.4 per cent of the council tax valuation. This is typically quite a bit lower than the purchase price, which means that you won’t need to pay as much. Military Clearance costs can be anywhere from £125 to £500, and you should budget £125 for land registry services. Last but least, expect to pay VAT on new-builds, which will depend on the property size and value.
Keyholders International Property Group can advise you on Istanbul real estate. We have a wide range of real estate for sale Istanbul wide, and you can be sure of a transparent and honest service. Find out more at http://keyholdersinternational.com/.