Turkey's budget proposal for 2021 includes an estimated income from a new tax on luxury housing of 350 million TL. Starting from the new year, real estate objects in Turkey that cost at least 5,000,000 TL (€566,000) will be taxed. And the more expensive the property is, the higher the amount of annual tax the owner of valuable real estate will have to pay.
So apartments and houses worth from five to seven and a half million liras will be taxed in the amount of 0.003 of their value. Properties with prices ranging from seven and a half to ten million liras will be taxed at 0.006 of their value. The most expensive real estate objects in Turkey (worth ten million liras and more) will be taxed at a rate of 0.1 of their value.
Administrative buildings, embassies, as well as properties owned by people who have no permanent income will not be taxed.