MORTGAGE – Muhasebe News

What are the Tax, Duty and Fees Exemptions in Providing Credits in Turkey?

MuhasebeNews — Sat, 01 Dec 2018 18:00:05 +0000

Papers constructed for acquiring, guarantees, re-payment of credits, which will be used by Banks, credit enterprises abroad and international associations, and the signs over these papers (Except usage of credits) are exempt from stamp duty. (Stamp Tax Law Table number IV- 23)

Also;

Transactions caused by establishment, merging, assignation, capital raise, splitting off and type alteration of joint stock, shared commandite and limited companies and transactions related to providing, guarantees, re-payment and bonds of credits which are given by banks, overseas credit organizations and international institutions shall not be subjected to duties (except trial duties). (Duties Law a.123)

The transfer of movables, immovable and intangible assets to the leasing firm and the re-transfer of these assets by the leasing firm to the assignor firm and the mortgage transactions related to these transfers are exempt from duties.

The exemptions regarding the duties shall not be applied to the “duty of exploration” which is one of the “Judiciary duties” and to the “Seizure, delivery and selling duty” which is one of the “enforcement and bankruptcy duties”. (Duties Law a.123)

Source: Revenue Administration

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What are the Incentives 4490 Numbered Turkish International Ship Registers Law and the Law Making Amendments in 491 Numbered Decree Law in Turkey?

MuhasebeNews — Sat, 01 Dec 2018 13:00:35 +0000

The incomes derived from the transfer or running of ships and yachts registered at Turkish International Ship Register are exempt from income and corporate tax and funds. (Law numbered 4490 a. 12, Corporate Tax General communiqué 1)

Buying, selling, mortgage, registration, credit, shipment agreements of the ships and yachts registered at Turkish International Ship Register are exempt from stamp duty, duties, banking and insurance tax and funds.

The wages of the staff working at the ships and yachts registered at Turkish International Ship Register are exempt from income tax and funds.

Source: Revenue Administration

House Sales Statistics in Turkey, March 2017

MuhasebeNews — Wed, 26 Apr 2017 07:49:07 +0000

In March 2017, 128 923 houses were sold in Turkey
In Turkey, house sales increased by 10% in March 2017 compared to the same month of the previous year and hence, became 128 923. For the house sales of March 2017, İstanbul had the highest share of house sales with 17.4% and 22 443 sold house. The followers of İstanbul were Ankara with 15 004 house sales and 11.6% and İzmir 8 059 house sales and 6.3%. The least house sold provinces were Hakkari with 8 house sales, Ardahan with 12 house sales, Bayburt with 39 house sales.

Number of house sales, 2016-2017

In March 2017, 50 424 ownership of the houses changed by mortgage sales

The mortaged house sales throughout Turkey became 50 424 by increasing 29.9% compared to the same month of the previous year. House sales with mortgage had a 39.1% share of all house sales in Turkey. Most of house sales with mortgage was in İstanbul with 9 661 sales. İstanbul was the first province in Turkey ranking that has most house sales with mortgage share with 19.2%. Mortgaged house sales had the highest share in Artvin with 59.1% of all house sales.

Ownership of 78 499 houses changed by other sales
Other house sales in Turkey became 78 499 by increasing 0.1% compared to the same month of the previous year. In the other sales, İstanbul was the first province with 12 782 sales and 16.3% share. Other house sales had 57% share of all house sales in İstanbul. Ankara was the second province with 8 525 sales. Ankara was followed by İzmir with 4 667 sales. The least other house sales was realized in Hakkari and Ardahan with 5 house sales.

House sales by type of sales, March 2017

House sales by state of sales, March 2017

In house sales, 56 376 of houses were sold for the first time
First house sales in Turkey became 56 376 by increasing 7.6% compared to the same month of the previous year. First house sales had 43.7% share of all house sales in Turkey. The most first house sales was in İstanbul with 9 972 sales. İstanbul was the first province in Turkey ranking that had most first house sales share with 17.7%. The followers of İstanbul were Ankara with 5 355 house sales and İzmir with 3 117 house sales.

Ownership of 72 547 houses changed by second hand sales
Second hand house sales in Turkey became 72 547 by increasing 11.9% compared to the same month of the previous year. In the second hand sales, İstanbul was the first province again with 12 471 sales and 17.2% share. Share of the second hand sales was 55.6% in İstanbul in total house sales. Ankara was the second province with 9 649 sales and Ankara was followed by İzmir with 4 942 sales.

In March 2017, 1 578 houses were sold to foreigners
In house sales to foreigners became 1 578 by decreasing 1.1% compared to the same month of the previous year. İstanbul was the first province with 579 sales in March 2017. The followers of İstanbul were Antalya with 313 house sales, Bursa with 124 house sales, Yalova with 88 house sales, Sakarya with 80 house sales and Ankara with 73 house sales.

Most house sales were made to Iraqi citizens according to country nationalities
Iraqi citizens bought 323 houses from Turkey in March. The followers of Iraq were Saudi Arabia with 148 house sales, Kuwait with 139 house sales, Russia with 115 house sales and Afghanistan with 112 house sales.

House Sales Statistics in Turkey, February 2017

MuhasebeNews — Tue, 28 Mar 2017 07:39:23 +0000

In February 2017, 101 468 houses were sold in Turkey
In Turkey, house sales decreased by 0.2% in February 2017 compared to the same month of the previous year and hence, became 101 468. For the house sales of February 2017, İstanbul had the highest share of house sales with 17.5% and 17 783 sold house. The followers of Istanbul were Ankara with 11 274 house sales and 11.1% and İzmir 6 290 house sales and 6.2%. The least house sold provinces were Hakkari with 4 house sales, Ardahan with 7 house sales, Şırnak with 27 house sales.

Number of house sales, 2016-2017
In February 2017, 38 676 ownership of the houses changed by mortgage sales
The mortaged house sales throughout Turkey became 38 676 by increasing 27% compared to the same month of the previous year. House sales with mortgage had a 38.1% share of all house sales in Turkey. Most of house sales with mortgage was in İstanbul with 7 247 sales. İstanbul was the first province in Turkey ranking that has most house sales with mortgage share with 18.7%. Mortgaged house sales had the highest share in Artvin with 58.3% of all house sales.

Ownership of 62 792 houses changed by other sales
Other house sales in Turkey became 62 792 by decreasing 11.9% compared to the same month of the previous year. In the other sales, İstanbul was the first province with 10 536 sales and 16.8% share. Other house sales had 59.2% share of all house sales in İstanbul. Ankara was the second province with 6 331 sales. Ankara was followed by İzmir with 3 696 sales. The least other house sales was realized in Hakkari with 4 house sales.

House sales by type of sales, February 2017

House sales by state of sales, February 2017

In house sales, 45 215 of houses were sold for the first time
First house sales in Turkey became 45 215 by decreasing 4.6% compared to the same month of the previous year. First house sales had 44.6% share of all house sales in Turkey. The most first house sales was in İstanbul with 8 514 sales. İstanbul was the first province in Turkey ranking that had most first house sales share with 18.8%. The followers of İstanbul were Ankara with 3 948 house sales and İzmir with 2 539 house sales.

Ownership of 56 253 houses changed by second hand sales
Second hand house sales in Turkey became 56 253 by increasing 3.6% compared to the same month of the previous year. In the second hand sales, İstanbul was the first province again with 9 269 sales and 16.5% share. Share of the second hand sales was 52.1% in İstanbul in total house sales. Ankara was the second province with 7 326 sales and Ankara was followed by İzmir with 3 751 sales.

In February 2017, 1 306 houses were sold to foreigners
In house sales to foreigners became 1 306 by decreasing 17.6% compared to the same month of the previous year. İstanbul was the first province with 458 sales in February 2017. The followers of İstanbul were Antalya with 279 house sales, Bursa with 119 house sales, Yalova with 62 house sales, Ankara with 59 house sales and Trabzon with 44 house sales.

Most house sales were made to Iraqi citizens according to country nationalities
Iraqi citizens bought 282 houses from Turkey in February. The followers of Iraq were Saudi Arabia with 143 house sales, Kuwait with 114 house sales, Afghanistan with 81 house sales and Russia with 77 house sales.