Sell your property in Turkey
Apartments and villas in the Republic of Turkey are valued for their good quality of construction work, decent level of comfort, thoughtful planning solutions and high return on investment. Prices for Turkish apartments are constantly rising, which, according to industry experts, guarantees owners a return on investment in the near future.
But in order to legally and profitably sell your apartment in Turkey, it is important to navigate issues such as assessing the value of the property, the purchase and sale procedure, legislation and rules for processing documents, and paying taxes. Taking into account all the nuances, most owners prefer to contact real estate specialists.
Selling real estate in Turkey is one of the popular services provided by real estate agencies. Experienced companies not only act as an intermediary between the seller and the buyer, but also help in all matters related to completing a safe and profitable transaction. In addition, cooperation with a real estate agency is your guarantee to avoid any mistakes and financial losses.
How long does it take to sell an apartment?
When and under what conditions the deal was concluded - this determines how long it will take to profitably sell your apartment in Turkey.
For example, if an apartment was purchased for investment purposes in a residential complex under construction at the excavation stage, then its resale will bring good dividends within a few months after commissioning. It will take you about the same amount of time to obtain absolute ownership of your home. As a rule, the difference between the price of the property at the start of sales and the finished apartment reaches 30–40%.
If for some reason you want to quickly sell an apartment in Turkey, then you can do this even before registering a TAPU in your name. In this case, you will need to negotiate with the construction company to terminate the contract by mutual consent of the parties. An important condition is the absence of encumbrances, for example, in the form of mortgage lending. The specialists of the real estate agency Altop Real Estate will help you figure out everything else.
Among investors, the sale of Turkish housing within several years after registration of ownership on the secondary market is especially popular. Taking into account the rapid rise in real estate prices, the profit from resale in 3-4 years with the right approach can reach 40% or more. However, you can sell an apartment in Turkey without tax only 5 years after receiving the TAPU.
How does an apartment sell?
Both the foreign owner indicated in TAPU and his representative with a notarized power of attorney can sell his real estate in Turkey. In most cases, the authorized representative is a specialist from a real estate company.
Step-by-step procedure for selling apartments in Turkey:
- Finding a suitable real estate agency with a good reputation, positive reviews and a large client base.
- Discussion of conditions and wishes with agency representatives. At this stage, the commission and list of services are also negotiated.
- Concluding a cooperation agreement with a real estate company.
- Preparing housing for sale and posting an ad on the agency’s website.
- Concluding a purchase and sale transaction and assistance in re-registration of TAPU in the Cadastral Chamber in the name of the new owner.
- Closing contracts with utility providers.
Documents for selling an apartment
List of documents provided to the Cadastral Office for the sale of an apartment:
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Copy of TAPU (Turkish title)
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Individual tax number obtained in Turkey
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Photos - 2 pieces
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DASK earthquake insurance
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Certificate from the city municipality
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Mandatory expert assessment of real estate
The Cadastral Chamber also checks for the absence of arrears in payment of state taxes.
Taxes in Turkey on the sale of an apartment
There is no tax on the sale of real estate if the owner resells the property after 5 years from the date of purchase.
It is necessary to pay tax on the sale of an apartment in Turkey if the period of ownership does not exceed the period prescribed by law. The amount of the income contribution depends on the cost of housing on the date of purchase, taking into account inflation and the real price at which the property is resold. The tax payment is calculated from the difference received, that is, the amount of profit.
The tax rate for individuals is progressive and ranges from 15 to 35%. That is, the higher the income, the higher the tax rate. Capital gains up to TRY 13,000 are not subject to income tax.
We will help you quickly sell your apartment in Turkey
Altop Real Estate is a professional real estate agency in Turkey with many years of successful experience and an impeccable reputation. We help our clients not only with the purchase, but also with the sale of real estate. The range of real estate sales services provided by our company’s specialists includes:
- Conducting professional consultations on the topic of profitable resale of Turkish apartments and conditions for mutually beneficial cooperation.
- Pricing of the object.
- Preparation of advertising information, photo and video materials for placement in the catalog on the website.
- Preparing housing for viewing by potential buyers.
- Search for buyers.
- Protecting the interests of the seller.
- Assistance in preparing documentation required for resale.
- Full support during the re-registration of title documents and resolution of many other issues.
All Altop Real Estate clients receive comprehensive professional support, complete security and are satisfied with the cooperation. If you want to profitably sell your apartment in Turkey, excluding any risks and financial losses, contact the Altop Real Estate agency. Leave a request for a call back and we will contact you as soon as possible.