New Square Meter Prices Announced for Real Estate Tax Calculation

The square meter prices for real estate tax calculations for 2027 have been determined by the Real Estate Tax Law General Communiqué published in the Official Gazette. According to this regulation, the normal construction cost per square meter for luxury residences can reach up to 27,712.26 lira. The communiqué, prepared by the Ministry of Treasury and Finance and the Ministry of Environment, Urbanization and Climate Change, redetermined the normal construction cost per square meter for buildings that will be used as a basis for real estate tax in 2027. The normal construction cost per square meter for residential buildings has been updated. With the published communiqué, not only residences but also buildings such as factories, hotels, hospitals, cinemas, banks, schools, and pools have had their normal construction cost per square meter rearranged. Real estate tax is calculated over different rates for residences, workplaces, plots, and lands.