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What’s Required to Maintain Real Estate

What about maintenance costs of property? How much are they? The answer to these questions are needed as much as possible in order to calculate in advance expenses and the potential profit from the rental property.

The first thing you should know about is the annual property tax. In Turkey it is 0.2-0.4% of the declared value of the facility. This payment can be divided into two parts, which can be paid in April and November.

As for utilities, they will not cost a packet. The approximate cost of water supply is 1.3-18. Euro per 1 m3, electricity is 0.11-0.18 EUR per kilowatt hour (kWh) (this depends on the time of the day).

A separate fee is provided for Aidat – the maintenance of the territory. In large complexes in addition to cleaning the territory and removing garbage, it includes the work of a gardener and a concierge, pool cleaning, etc. These costs are usually form 10 to 15 EUR and depends on the set of services.

All these costs, as well as monthly payments for the loan can be covered by renting out a house. If you buy real estate for this purpose, you should know the estimated cost of rented accommodation in Turkey. On average, it is 500-2000 EUR per month. The rental tax is 18%.

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