HÜDA PAR proposes scrapping title deed fees for first-time homebuyers
Türkiye's HÜDA PAR has submitted a draft law to parliament proposing to exempt citizens who do not own a registered home from title deed fees when purchasing their first residence, in a move aimed at easing housing costs for low- and middle-income households.
The three-article bill, submitted to the Presidency of the Grand National Assembly of Türkiye (TBMM), was signed by party leader Zekeriya Yapıcıoğlu and lawmakers Şahzade Demir, Faruk Dinç and Serkan Ramanlı.
The proposal seeks to amend Article 59 of Law No. 492 on Fees by introducing an exemption for Turkish citizens who have no residential property registered in their name.
In its general justification, HÜDA PAR cited Article 57 of the Constitution, which obliges the state to take measures to meet housing needs, arguing that soaring property prices and transaction costs have made homeownership increasingly difficult for low- and middle-income households.
The party said applying the same financial obligations to people buying their first home and those who already own multiple properties undermines tax fairness.
"Subjecting a person who has wealth or multiple homes and a citizen who is trying to acquire a residence for the first time in their life to the same financial obligations undermines the sense of justice," the bill's justification said.
The proposed exemption would reduce the upfront costs of purchasing a home, facilitate access to housing and support homeownership, the party said.
The bill has been submitted to parliament for consideration. (ILKHA)
LEGAL WARNING: All rights of the published news, photos and videos are reserved by İlke Haber Ajansı Basın Yayın San. Trade A.Ş. Under no circumstances can all or part of the news, photos and videos be used without a written contract or subscription.
HAKSİAD Chairman Vedat Turgut has urged businesses in Türkiye to adopt cautious investment strategies, avoid excessive borrowing and strengthen cooperation amid growing global economic uncertainty, rising costs and financial market volatility.
Türkiye's central bank reserves fell by $6.91 billion in the week to October 23, data from the Central Bank of the Republic of Türkiye (CBRT) showed on Monday.
Global oil prices fell more than 3% on Monday as renewed diplomatic efforts to end the conflict involving the United States and Iran eased concerns over potential disruptions to Middle Eastern energy supplies.