Turkey plans to introduce a tax on capital gains from real estate sales as it looks to return the country’s budget to surplus by 2017, the country’s finance minister, Mehmet Simsek, said. The move is part of a broad package of changes to income tax.
House sales jumped 25.3% in October on the year, data from the Turkish statistics institute show. Meanwhile, Istanbul property prices have risen more than 20% over the last year.
