Another Incentive For New Housing

As the economic data continues to improve day by day, Turkey continues to produce housing to meet the ever-increasing population density. Due to the dynamic and young population that the country captures, both the quality of the workforce and the new industry are opened up. This economic recovery is changing housing prices in a direct proportion. The opening of each new business causes new migration or change of address of residence of the population. Due to the fact that people prefer houses close to their jobs, a major wave of address changes has emerged in recent years. Not only for business purposes but for those who want a cleaner living area and for investment purposes and the number of home buyers is quite large.

With the new arrangement, houses that are smaller by 150 meters will now have a 1% value added tax on many building materials. According to the old law, this tax was applied at 18%. House heating, glass balcony, bathtub, shower cabin, kitchen cabinets, battery, shower head, etc. Basic building materials will now be purchased subject to discounted taxes. This tax system provides a general discount of up to 20% in total. It is also said that new home areas will have special discounts on tax not only on these products but also on household goods. Tax cuts do not apply to just one region or city. All of Turkey is under the scope of this law. In other words, regardless of which city or region you wish to purchase, you will be able to benefit from the tax deduction.

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    yasemin Written by:

    Yasemin Kılıç yaseminkilic@istanbulinvestments.com

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