Property in Turkey

’How much do I have to pay in taxes when selling my Turkish holiday home?’ . This is one of the most common question people often ask. In the following we will sum up the answer. In the case that you have owned your property for MORE than five years, the profit you earn from the sale will be tax free. An important note is that the length your ownership is determined from the day you received your deed. When you have paid for the property, signed the contract or moved in, is irrelevant in this case. Only the date on the deed can determine when you became the official owner. In the case that you have owned your property for LESS than five years, you must pay taxes if the sale brings you any profit. The tax amount will be conducted from the following values (notes this is 2010 values): Profit up to 8.800 TL, 15 procent 8.801 - 22.000 TL, 20 procent 22.001 - 50.000, 27 procent More than 50.000 TL, 35 procent The profit is the balance between the registration value on the de...

Most people have heard the story about the airport in the city Gazipasa, a 30 minut drive from Alanya. We now have the latest – verified – news on the airport story. (As always we do not take in all the rumours, because usually they are pretty diffuse and not trustworthy). During a meeting with the hotel owners in Alanya the Prime Minister Recep Tayyip Erdoğan stated that: “The airport in Gazipasa will never be capable of handling planes with a capacity larger than 60-70 passengers. It is a question of security, and the government will not take on that responsibility (editor’s note: in case the government allows bigger planes and an accident where to happen)”. This statement caused great furry in Alanya, and many people felt that the authorities and government went back on their promise. The Secretary of Transportation Binali Yıldırım delivered the same message when he the other day visited Alanya. Asked straight up on the airports chances to handle larger planes he answered...

It is no secret that in these days a lot of people want to sell their property. The reasons may be many:  everything from the desire to try something new, financial difficulties or something else ... No matter the reason, the sellers must accept, the market as it is these days, and a larger loss when selling their house. The fact that this makes the market very attractive to buyers is another matter entirely, and not the topic of this post. For how do you sell your property in the best way? As a private seller, you have basically three options. Try to sell the house yourself. Have your property for sale at as many brokers as possible. Make a sole agreement with a single broker who can handle all aspects of the sale. There is no doubt what we recommend: An agreement with a single broker. It will give the broker a bigger motivation to sell and not at least promoting the home without competing with 17 others brokers, who are also trying to sell your home. Because who w...