Turkey's real estate developers express concern over new taxes

Representatives of the Turkish real estate sector have expressed worry over new tax regulations that they say could increase the price of housing for consumers while leading to a fall in employment in the industry.The new value tax (VAT) law, which will especially impact small...

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Turkey's real estate developers express concern over new taxes



Balkans.com Business News Correspondent - 10.01.2013

Representatives of the Turkish real estate sector have expressed worry over new tax regulations that they say could increase the price of housing for consumers while leading to a fall in employment in the industry.

The new value tax (VAT) law, which will especially impact small luxury houses that are located in metropolitan areas, are smaller than 150 square meters and will be licensed by the end of 2013, could intimidate property buyers, according to players in the sector, Hurriyet Daily News report.


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