The Turkish Minister of Finance, Naji Agbal, said that the deduction of the KDV tax for those wishing to own a property in Turkey from foreign investors and expatriates from Turkish citizens will be a great opportunity for those wishing to do so, as it would constitute a significant reduction in the Turkish real estate prices.
The minister explained that all foreign and expatriate citizens of Turkey will be able to buy shops and apartments in a reduced manner by benefiting from the reduction of the valued added tax, and said that the decision on this matter has been officially issued and acquired the categorical status after its publication in the Official Gazette.
Agbal added that Turks living outside the country and foreigners living abroad who have no legal residence in Turkey and who have no legal work in Turkey will be able to benefit from this decision.
"Those wishing to take advantage of this offer must bring in and pay half the amount of the apartment or place of work they want to buy, and the remaining part of the amount should be drawn from outside the country to Turkey in the form of foreign pieces" the minister told Anatolia correspondent.
He pointed out that the foreign pieces must be brought by disclosing it through the Customs Department or by bank transfer, and should not sell the apartment that is purchased for at least one year, adding that this new application will be a great added value for the national economy “.