New real estate tax is introduced in Turkey


In the first place, the new tax regulations concern city houses with the area up to 150 square meters. If the square meter price at such dwelling varies from 500 to 1000 TL, the tax will be 8 %, My-Antalya repotrs.

If the square meter price of the house exceeds 1000 TL, the tax rate goes up to 18%.

At the same time, the tax for houses with the total area of more than 150 square meters will remain at the previous level – 18 %.

One of the by-effects of such new taxation system may consist in the slowdown of construction and staff reduction.

According to analytical forecasts, approximately 350 thousand construction licenses will be issued in 2013 (a half of the 2012 numbers).

English translation by BSN

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