Another way to make money on housing in Turkey is to profitably resell it. Prices on the market are growing, so residential complexes at the construction stage are a profitable investment that can bring passive income immediately after completion of construction. Apartment prices are growing by 10-15% per year and so is the demand. Therefore, it will not be difficult to sell quality housing. In this case, the seller will incur the following costs:
Tax on income from the sale of real estate;
Realtor’s commission.
According to Turkish law, individuals including foreigners do not pay income tax when selling a property if it has been in their ownership for more than 5 years. The tax must be paid if the holding period is less than 5 years. The rates are the same as for rental income.
As for realtor’s service, there is no fixed price. The cost of the service is determined individually. On average, the cost of realtor’s services ranges from 3% to 6% of the transaction amount.