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INCENTİVES FOR URBAN TRANSFORMATİON

A number of incentives have been developed in order for the construction of 6.7 million houses. First of all, in urban transformation areas, 1% VAT is charged from the construction of houses under 150 m2. Normally, VAT for construction is 8%-18%. No fee is charged for the deed of real estate processes under the scope of urban transformation. For houses constructed in other areas, both sellers and buyers are supposed to pay 2% as fee. Municipalities do not charge license fees from urban transformation projects (which is normally 2%). In the same manner, notarized construction contracts and pre-sales of houses are exempt from the 1% fee. Young population of our country needs houses. Besides, urbanization ratio is still 70% and rural-to-urban immigration still goes on. Stateowne empty areas just close by the cities are reserved for new housin needs. All the infrastructural needs of these areas are met by the state. Large housing projects in these areas are promoted with exemptions from 4% title deed fees and 2% licence fees.

Sosyal Medyada Bizi Takip Edin !