The Turkish government is preparing to introduce a progressive tax on registration of property rights for owners of more than one property

News for those who are going to sell their apartments/villas and for those who have several of them. According to the information received, the government is preparing to increase the tax and duties for registration of ownership of housing for those who own more than one property. In addition, it is expected that those who sell their property after five years of ownership will also be taxed. Even if 5-10 or even 50 years have passed since the purchase of the house, the profit from the increase in value will be calculated and taxed on the day of sale. When calculating the tax, the current market value of the property will be taken as a basis, which will be determined on the basis of mandatory assessment reports. These measures are expected to come into force in June 2024.

Total:
- increased tax rate on the sale of real estate for owners of more than one property
- the obligation to pay tax even if the property has been owned for more than 5 years
- mandatory expert assessment of real estate when selling it