Real property law

Türkiye's real estate market showed remarkable growth in 2024, with property sales reaching 3,065,872, a 3.9 percent increase from the previous year.

This surge in activity has significantly boosted government coffers, with deed fees soaring to 96.13 billion liras, marking a 60 percent rise from 2023.

The number of "Residential Properties with Tourism Rental Permits," introduced to prevent price increases following the rise in daily home rentals, has reached 22,939 in the real estate and tourism sectors.

Three Turkish nationals are being sought by Greek authorities over a handgun discovered in an Airbnb apartment in Glyfada in southern Athens. The weapon was found on Saturday by a tenant, who notified the landlord, prompting an investigation.

Amendments introducing the changes announced by the government regarding banks, the coverage of the cost of medicines for low-income pensioners, and a hazardous-profession benefit for armed and security forces personnel were tabled in Parliament on Wednesday, the National Economy and Finance Ministry announced.

A first elaboration of what the Prime Minister announced on Sunday afternoon was made by the Minister of State Akis Skertos, in an interview with Antenna.

Real estate purchases with cash are back, according to a new circular from AADE. The measure applies to transfers made from 11 December 2023 onwards, the date on which the complete ban on the use of cash to pay a price when drawing up notarial deeds came into force.

The taxes that individuals and businesses must pay during December amount to 5.5 billion euros.

The payment of income tax, Single Property Tax (ENFIA), value-added tax (VAT) and road tax are the most important obligations that taxpayers must cover by December 31.

Homeowners who rent closed properties or convert property from short-term to long-term leases will be able to exempt tax on income derived from those rentals, under new rules. This exemption for rental income will appear on the statements on the 2025 tax returns.

The government has requested a complete list of all properties held by the funds through their respective companies (Real Estate Owned Companies - REOCOs), in an effort to increase the stock of properties that could be immediately placed on the market.

The anticipated return of millions of Syrians from Türkiye to their home country following the ouster of Bashar al-Assad is expected to influence rental prices across Türkiye, experts say.