In the previous month, the news sources announced that President Recep Tayyip Erdogan and the Presidential Cabinet discussed the property value for citizenship. The changes were according to the rising value of the properties. The amount taken for citizenship had changed and increased. Now it is on the official paper and the decision is signed by Recep Tayyip Erdogan.
The flights to Istanbul are now being resumed by Saudi Arabia after two years of cancelation. The limitations started according to the Covid pandemic procedures almost two years ago. In relation with this, many countries all around the world had their own prevention systems. That inclueded limitations on travelling and cancelations of flights. The only aim was to control it from spreading since it had impact on everything.
The conditions of the Turkish citizenship application will have a change. According to the news, the property value taken for the application for citizenship will be increased. The previous amount was $250.000 and now it has changed and become $400.000.
Turkish Statistical Institute recently revealed the rates of housing sales statistics of March. According to the statistics, housing sales increased 20.6% in March when compared to the same month last year. The sales went up to 137 thousand 170 and Istanbul had the highest share with 17.9% as 23 thousand 974 house sales. Ankara and Izmir followed Istanbul on the sale rates. Ankara had 12 thousand 609 housing sales and Izmir followed the list with 8 thousand 51 house sales.
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.
The VAT rates for housing had some important changes. But how will these changes affect the housing sector and what are the differences? The answers are as below, but first, let’s remember the applied rates in order to make a comparison.
The residences which have 150 m² net usage area used to have an 18% VAT rate and for the ones below 150m², the rate was 1%. Now with the changes; for houses that are above 150 m², there will be a tax reduction. For the ones below 150 m², there will be partial discounts and also partial raises.
Bodrum is selected as the 5th best tourism destination in the world by the world-famous American Tourism and Travel guiding company TripAdvisor. When compared to Cote d’Azur or St. Tropez, Bodrum is shown as the ideal combination with its strong reputation and virgin beauties on a global scale. Bodrum is among the Top 10 Tourism Destination…