Real Estate in Turkey: Key Terminology

Purpose of the Article:

Guide readers through key Turkish real estate terms, fostering confident property transactions in Turkey.

Estates Istanbul: A premier real estate company in Istanbul, Estates Istanbul has been at the forefront of the real estate industry for many years. With a dedicated team and a passion for excellence, they offer unparalleled expertise for those looking to engage in property transactions in Turkey.

Tapu: This is the title deed for property in Turkey. The tapu confirms and certifies the ownership of any piece of real estate in the country. For official website please click.

Emlak: Simply put, emlak is the term used for real estate in the Turkish language.

KDV (Katma Değer Vergisi): This is the value-added tax in Turkey. Anyone engaging in real estate transactions should be aware that KDV is applicable.

İmar Durumu: Before buying property in Turkey, it’s essential to check the İmar durumu. This term refers to the urban planning status of a property, indicating what can be built on the land and how it can be used.

Iskan Belgesi: A crucial document, the iskan belgesi is a certificate of occupancy. It verifies that a property in Turkey is deemed safe for habitation.

Aidat: If you’re considering buying a property in a shared complex or gated community in Turkey, you’ll likely encounter the term aidat. This is the maintenance fee paid by property owners in such settings.

Komisyon: This term denotes the commission fee. When you buy or sell property in Turkey, a komisyon is paid to real estate agents or brokers for their services.

Depozito: Renting property in Turkey? Be prepared to pay a depozito. This deposit, usually equivalent to one or two months’ rent, is refundable at the end of the lease, assuming the property is in good condition.

Satış Sözleşmesi: This is a sales agreement in Turkey. The satış sözleşmesi details the terms and conditions of a property transaction, ensuring both parties are clear on the agreement.

Gayrimenkul Değerleme: Engaging in real estate transactions in Turkey often requires a property valuation. This process, known as gayrimenkul değerleme, is essential for tax assessments, mortgage applications, and insurance purposes.

DAB (Doviz Alim Belgesi): For foreigners keen on buying property in Turkey, the DAB or “Foreign Currency Purchase Declaration” is vital. This document, issued by the bank, proves the foreign currency exchange through the Turkish Central Bank. It’s an indispensable step for foreigners and should be secured before any real estate transactions.

Understanding Key Terminology of Real Estate in TURKEY

Understanding these key terms is crucial for anyone looking to delve into the world of real estate in Turkey. Whether you’re buying, selling, or renting, having this knowledge will ensure a smoother transaction process. And remember, when in doubt, Estates Istanbul is always there to guide you through your property in Turkey journey.