Buyers
The Annual Cost of Owning Property in Türkiye
Property tax, service charge, insurance, utilities and maintenance: what does a home cost you every year? The cost of leaving it empty, and a realistic budget.
The purchase price is paid once; the cost of ownership is paid every year. To make the investment decision properly you need to know the second figure from the outset — particularly if you are calculating a rental yield, because these are precisely the items that determine the net return.
Fixed annual costs
- Property tax: one per mille on dwellings and two per mille on commercial premises, doubled in metropolitan municipalities. The base is the value assessed by the municipality, not the market value.
- Service charge: modest in an ordinary apartment block, markedly higher in a development with amenities. Always work out the annual total.
- Compulsory earthquake insurance: set by the size and construction type of the dwelling; it runs to a few thousand lira a year.
- Optional home insurance: for fire, flood and theft, which the compulsory policy does not cover. Not mandatory, but in practice unavoidable if you let the property.
- Standing charges on utilities: meter and distribution charges run even if you use nothing.
- Maintenance and repair: setting aside between half a per cent and one per cent of the property value each year is realistic.
%4
Title deed fee — total rate
5 August 2026 valid as at
46,73 TL
Central Bank foreign exchange selling rate (USD)
5 August 2026 valid as at
The cost of leaving it empty
For a holiday home standing empty most of the year the list of costs does not shorten — it lengthens. The service charge and tax carry on, and key-holding, regular airing and garden maintenance are added on top. In a humid climate a house kept shut up can generate serious maintenance costs in a single season.
The hidden cost of an empty property is on the insurance side. Most home policies restrict cover for damage such as flooding where the property has been left unoccupied for more than thirty days. Read the unoccupancy clause in your policy.
If you are going to let
The gap between gross and net yield is the sum of the items above, and it typically comes to about a fifth of the gross. Add to that an average of half a month's vacancy a year and the management commission.
Rental income is declarable as income from immovable property. You may either treat a set proportion of the income as expenses under the flat-rate method, or document the items above and deduct them under the actual expense method. Service charges, insurance and property tax are deductible under the actual expense method; which method is better depends on the property.
The questions we hear most
- When is property tax paid?
- In two instalments: the first by the end of May, the second by the end of November. If it is not paid, late payment interest runs and you cannot obtain the clearance letter needed for land registry transactions.
- Is there a property tax exemption on a newly bought home?
- A temporary exemption may apply to newly constructed buildings in certain circumstances. A permanent exemption is confined to limited groups — pensioners, disabled people and those without income who own a single dwelling; a second home bought as an investment falls outside it.
- How do I pay the tax while I am abroad?
- The Interactive Tax Office and the municipalities' online systems accept card payments. If you use a property management service, leaving the tracking to them is the most practical route.
- How much should I set aside for maintenance?
- Low for the first five years in a new building, rising thereafter. Replacing the boiler, air conditioning and white goods is unavoidable over a ten-year period; setting aside a regular annual sum is more manageable than one-off large outlays.
The information on this page is for general guidance and does not constitute legal or financial advice. The legislation may change; consult your accountant or lawyer before acting.