Turkey’s new mansion tax – the implications for the market

Turkey’s new mansion tax for properties above TRY 5m has been
widely anticipated by the market, following its delayed
implementation. We were interested in analysing its likely impact on
transaction volumes and prices, especially in light of the very brisk
increase in house prices within the villa and detached houses segment
since the outbreak of COVID-19 in March 2020. We survey a number of leading real estate agents on their expectations.