Surely you know that the more luxurious and distinguished the real estate you own, whether in Turkey or abroad, this leads to the taxes incurred on it being greater than ordinary or inferior real estate, but what is that tax, and will it be inappropriate for many people?
What is the tax on luxury real estate?
According to the provisions of Turkish law, this tax is not imposed on any type of real estate, but only on those whose price exceeds five million Turkish liras, and less than that, it will not result in anything, no matter how luxurious and distinguished it is.
In this context, it must be noted that for real estate whose value ranges from 5 to 7 million Turkish liras, the tax imposed on them will be only 3 per thousand, and real estate whose value ranges from 7 to 10 million will have a tax of 6 per thousand, while real estate that exceeds the barrier of ten million Turkish liras will be The obligatory tax is more than 10 per thousand.
The importance of owning luxury real estate in Turkey
Turkey is a fast-growing market for luxury real estate, offering some of the most sought-after properties in the world. With stunning beaches and scenic coastlines, Turkey's luxury real estate market is an attractive option for investors looking for a vacation home or for those looking to purchase property as an investment.
The advantages of owning luxury real estate in Turkey are numerous. Firstly, the cost of living in Turkey is much lower than in other parts of Europe and North America and this makes it an ideal place to invest in real estate, as it is more affordable than many other countries. In addition, the climate in Turkey is mild and sunny, making it an attractive destination all year round.
In addition to affordability and climate, Turkey offers a variety of luxury properties available at competitive prices and from modern apartments with stunning views of the Mediterranean Sea to villas with private pools and garden terraces, there are countless options when searching for real estate in Turkey.
Owning luxury property in Turkey provides investors with access to some of the best amenities and services available. Properties often come with access to exclusive golf courses, beach clubs, and marinas. Investors can also enjoy a range of tax breaks depending on where they buy the property.
Areas to buy luxury apartments in Turkey
Several regions in Turkey offer luxury apartments, such as Istanbul, Bodrum, Antalya, and Alanya.
Istanbul is the largest city in Turkey and offers some of the most luxurious real estate in the country due to its thriving economy. The city has many different areas with many high-end residential complexes and Bodrum is a coastal resort on the Aegean Sea with stunning views and many luxury properties for sale.
Antalya is a popular tourist destination located on the Mediterranean coast and has many exclusive residential areas with great apartments available finally, Alanya is a coastal city on the Mediterranean Sea with a range of amazing properties for those looking to buy luxury apartments in Turkey.
Luxury real estate for sale in Turkey in installments
Buying apartments in installments in Turkey has many advantages, one of the main advantages is that it allows buyers to purchase a property without having to pay the full cost upfront - making it more affordable and accessible. In addition, installment payments often come with lower interest rates than financing options. other, which means that buyers can save money in the long run.
Moreover, as the installments are paid over time, they also provide buyers with a sense of financial security and stability – knowing that they can pay back their investment without putting too much stress on their finances. Finally, installment plans provide flexibility to buyers when it comes to budgeting and planning for future investments.
Learn about the types of luxury real estate in Turkey
200,000$
Istanbul Asia,
Kadıköy,
Under construction
2024-12-30
240,000$
Istanbul Asia,
Maltepe,
Under construction
2024-01-01
309,000$
Istanbul Europe,
Bahçelievler,
Under construction
2024-12-31
High-end apartment buildings are found throughout Istanbul's cosmopolitan city center and these luxury apartments typically feature high-end amenities such as swimming pools, fitness centers, and 24-hour security.
Beachfront villas are popular with those looking for the perfect Mediterranean holiday home. These villas usually have stunning views of the Aegean Sea and come with private beaches and pools.
For those seeking complete privacy and exclusivity, there are many private islands available for purchase around the coast of Turkey ranging in size from small, uninhabited islands to larger islands with existing infrastructure.
Real estate prices in Turkey
Real estate prices in Turkey are largely determined by the country's economy and the demand for real estate. Factors such as inflation, population growth, and foreign investment can affect the cost of real estate in Turkey. Locations close to tourist attractions can also have an impact on prices as areas with high infrastructure and access to public transportation tend to be more expensive than those you don't have. In addition, prices may vary depending on available amenities such as parking or security systems. In the end, real estate prices in Turkey depend on many factors that can cause it to fluctuate over time.
Take advantage of our services in Number One to own a luxury property
Our team of experienced real estate agents provides quality services to help you find and purchase the perfect property that meets your needs. We pride ourselves on offering our clients a wide variety of options, from spacious homes to high-end apartments. With our extensive experience and knowledge of the local market, we can help you make the right decision. Contact us to explore the possibilities and start living the life you deserve.
Services that Number One Property is proud to provide to its clients:
-Luxury apartments for sale in Istanbul are suitable for obtaining Turkish citizenship and others are suitable for real estate residence.
-The most distinguished real estate within the Turkish real estate market.
-Cheap real estate prices with high quality.
-Taking care of all the steps of buying a property in Turkey.
Our expert, specialized team is ready to answer any inquiries about real estate investment in Turkey. Just contact us to get what satisfies you.
Read more:
Real Estate Taxes in Turkey, A Comprehensive Guide for Investors