TAX EXEMPTION ON THE TITLE DEEDS FOR THE BUYERS OF NEWLY BUILT HOUSES

The Ministry of Environment and Urbanization and the Ministry of Treasury and Finance have collectively granted the right to exemption of fees on title deeds for the buyers of newly built houses. The new term on title deed procedure was officially started. From now on, the people who will buy the newly built houses under the urban transformation project and who sell these houses will not pay for the title deed fees. The title deed fee is collected as 4 percent in total as 2 percent from buyer and 2 percent from seller. With the decision made by the Treasury and the Ministry of Finance, this ratio was reduced from 4 percent to 3 percent until 31 December 2018.

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