Prices for property purchase in Turkey to increase

The Turkish coast is in traditional demand among foreigners. However, when planning a purchase, the seller must consider not only the amount that he wants to receive but also the additional costs of registration. They may increase soon. This is a title deed, the so-called TAPU, which is paid to the Land Department of the country. The fee is 4% of the purchase price of the property.

According to the Emlakkulisi portal, the fee will increase in 2022. There are preliminary figures of 36%. This means that buying a property will cost over a third more. Given the steady rise in housing prices in Turkey in 2021, there is no need to postpone the purchase made by 50,000 foreign investors during the 11 months of the outgoing year.

November became a record number of transactions, surpassing 2019-2020 figures. The depreciation of the lira made investments in the country's housing stock more profitable, and foreign citizens rushed to take advantage of this opportunity.