Extra Costs & Charges
Costs you will face during and after your home purchase
Real Estate Commission
3% real estate commission is paid by the buyer and the seller separately from the sale price of the property in the resale transactions made through the real estate agent.
Tax costs:
Title fees
The property deed is paid separately by the buyer and the seller at a rate of 15 per mille over the actual sales price generated during the purchase and sale, not less than the value of the real estate tax of the dwelling.
Property tax
The rate of "Property Tax" is 2 per mille in the houses. In addition, 10% of the "Property Tax" amounts are paid "Contributions to the Protection of Immovable Cultural Properties". The real estate tax for the year of purchase is paid by the seller. For the following year, you must give the property tax declaration for the property you are buying. During the purchase and sale transactions, unpaid debts for past years are determined. Buyer and seller are responsible for these debts jointly. In this case the buyer may be held liable for past term debts. You may have unpaid property or environmental cleaning tax debts for the house in the past years. You can check them from the Tax Office. We recommend that you keep a copy of your paid tax receipts from the retailer.
Income tax
If a value increase occurs during the sale of the property, the gain is assessed as 'value gain' and is subject to income tax. The value increase subject to income tax is calculated on the value stated in the deed. If the residence is sold after 5 years from the date of purchase, it is exempt from "Value Increase Earnings" tax.
Value-added tax
This type of tax applies only to purchases of new houses from the first hand (construction company). The second hand does not apply to home purchases and sales. If the net area is less than 150 square meters, it is 1%, in case of 150 square meters or more it is 8% VAT.
Environmental cleaning tax
"Environmental Cleaning Tax" is calculated per cubic meter based on the amount of water consumption and is collected by water bill for the residents. Responsible from the date of purchase from Environmental Clean-up Tax; buyer is not responsible for previous periods.
Rent Tax
According to the Income Tax Law, income from the housing of the rent is subject to income tax on certain conditions. Within a calendar year, certain excess income tax is paid on rent income exceeding the amount specified.
