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TheMoveChannel.com | Turkey Property News

Welcome to TheMoveChannel.com Turkey News Homepage, where you can keep up with all the latest Turkish property news, covering a range of property investment, real estate industry and personal finance news topics. If you like our news, why not sign up to one of our newsletters or RSS feeds and read it every day!

Will Turkey's new tax deter hungry buyers?

Photo credit: Bryan_T

Demand for Turkey's property has surged in recent years, but new VAT rules announced at the start of 2013 have raised fears that buyer appetites may be curbed.

The new tax, which applies to homes under 150 square metres in size licensed by the end of 2013, will increase costs for investors, say experts, with some expecting sales to fall as a result.

Ömer Faruk Çelik, chief executive officer of Sinpaş REIT, told the Hürriyet Daily News; "Real estate demand was stuck at around 400,000 sales for several years, and the new tax will pull down the sales even lower."

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2013 is the year to invest in Turkey, say experts

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