Sale Property Turkey

New Decisions on Vat Exemption

New Decisions on Vat Exemption

In the previous months, significant informations and rates were revealed about the housing sales. Now there are new decisions on the VAT exemption, related with foreigners being able to sell houses and workplaces. According to the rates revealed in February by the Turkish Statistical Institute, housing sales to foreigners increased about 54.95% and became 4 thousand 591 when compared to last year’s same month. Now, The Grand National Assembly of Turkey and its committee on planning and budget made changes related to foreigners and their sales of housing and workplace. Firstly, let’s look at the rates on housing sales and the demands.

The Rates and Details on Housing Sales Related to Foreigners

In February the share of the housing sales to foreigners was calculated as 4.7%. When we look at the total of January-February sales, the foreigners bought 8 thousand 777 properties and the rates increased to 55.6% when compared to last year’s same months. Furthermore, when we have the percentage of two months, here is the list of top 10 provinces of housing sales;

  • Istanbul: 3 thousand 729
  • Antalya: 2 thousand 13
  • Ankara: 557
  • Mersin:435
  • Bursa: 278
  • Izmir: 242
  • Yalova: 233
  • Samsun: 208
  • Sakarya: 196
  • Trabzon: 156

The News on VAT Exemption

The Grand National Assembly of Turkey and its committee on planning and budget are working on new changes on tax and economy packages. One of the most important topics is the housing and workplace sales of foreigners. According to the new decisions, in order to benefit from VAT exemption, one must have to keep the property for 3 years. Before this decision, it only took a year to be able to benefit from the VAT exemption, now it raised up to 3 years instead. For detailed information on this topic and the news related to foreigners, you can ask our consultants.

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