Turkey’s real estate sector risks losing foreign buyers due to increased tax burden

The increased tax burden and greater complexity of a new real estate tax system may discourage foreign investors, according to actors in the real estate sector.The new value added tax (VAT) law, which will especially impact small luxury houses located in metropolitan areas, smaller...

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Turkey’s real estate sector risks losing foreign buyers due to increased tax burden



Balkans.com Business News Correspondent - 14.01.2013

The increased tax burden and greater complexity of a new real estate tax system may discourage foreign investors, according to actors in the real estate sector.

The new value added tax (VAT) law, which will especially impact small luxury houses located in metropolitan areas, smaller than 150 square meters and licensed by the end of 2013, could intimidate property buyers because of a remarkable price increase, they said, Hurriyet Daily News report.


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