The Council of Ministers has made new amendments to the land registry fees after the approval and acceptance by the Budget and Planning Committee during the past months. This authority was used by the Council of Ministers and there was a direct reduction of these fees according to the declarations issued by the Council.
This amendment comes to reduce real estate prices on both domestic and foreign investors when they own any property in Turkey.
Based on the amendment to reduce the fees for the real estate registry from 20 thousand per to 15 thousand, it is not possible for all who transfer the ownership of the land registry to obtain this reduction, but there are conditions for that.
The decision came to reduce the fees on real estate records of some types of properties for a limited period only.
Here are the three conditions to take advantage of the reduction:
The first condition: Completing the procedures for the transfer of ownership of the land registry until the date of 30 September 2017 maximum.
The second condition: The apartment or work place must be the subject of the transfer registry in the real estate records department (this reduction will not be applied for floors and plots).
Third condition: At least one storey apartment must be established on the apartment or place of work in the record of the transfer subject.