The title deed and VAT reduction brought record!
The title deed and VAT discount, which started in May 2018 and was announced to continue until the end of the year, has stimulated the real estate sector. Campaigns facilitating the purchase of citizens’ housing brought a record in housing sales.
According to the news in Hurriyet Newspaper, 18 percent VAT applied to housing deliveries was decided to be reduced to 8 percent by 31 October and the title deed fee to 3 percent. It was announced that the campaign launched by the Ministry of Treasury and Finance will continue until the end of the year.
An advantage of TL 52 thousand
VAT and land registry allowance offers many opportunities for citizens. Considering that a house of 500 thousand pounds is sold with 18% VAT, the VAT that the citizen will pay to this house before the discount is 90 thousand liras, it is reduced to 40 thousand pounds with a discount. Only 50 thousand pounds provided by the VAT. The deed fee paid before the discount for the same house is 20 thousand liras, this reduction is 15 thousand pounds. Half of the deed fees are paid by the buyer and the seller. The buyer has the advantage of a total of 52 thousand 500 pounds in a house of 500 thousand pounds. The VAT discount was announced only at the beginning of May, while about 2 weeks later the commercial units such as offices and shops were included. Now with additional extension, those who buy commercial units will also provide an important opportunity.
He brought a record
VAT and title deed allowance, the campaigns offered by private companies have revived the housing market. In October, 146 thousand 536 people became homeowners and the highest monthly housing sales of all time were realized. In the first 10 months of 2018, 1 million 148 thousand 927 houses were sold. Last year, with the sale of 1 million 409 thousand 314 houses, the record of the history of the Republic has been broken, and industry representatives are expecting to close 2018 with a record. In order to maintain the mobility in the housing market, it is expected that the housing loan rates will decrease to reasonable rates and that the public will provide permanent support for VAT.
Source: projepedia.com
