• Property Advisor Turkey

Property evaluation law in Turkey


Property evaluation law in Turkey

Turkey's real estate market has attracted investors from all over the world, especially in recent years due to the remarkable development in the country and the huge infrastructure projects adopted by the Turkish government.

Istanbul tops the list of Turkish cities for investors who are looking for apartments for sale in Istanbul, especially as it is the economic capital of the country.

In order to ensure the interests of the next foreign investor to buy a property in Turkey, the Turkish Ministry of Housing issued a decision requiring the presence of a real estate expert recognized by the Titling Department (TAPO) to assess the price of the property.

The law was obliged to protect investors from fraudsters who manipulate property prices and target foreign investors because they do not know the real value of the property.

The report of the Evaluation Committee is based on the location of the property in the first place, where real estate prices vary according to the regions, for example real estate prices in the center of Istanbul are the highest price and are different from the prices of real estate in another region on the outskirts. Also take into account the total area of the apartment and the age of the building and its type (commercial, residential)

The decision came into effect on March 4, 2019.Directed by the Directorate General of Real Estate Records of the Ministry of Environment and Cities, a decision requiring foreign investors coming to buy real estate in Turkey is obliged to obtain the report of the evaluation committee of the real estate price in order to complete the purchase process and register the property in the Tabu Department on behalf of the owner of real estate.

This decision aims to protect the investor and keep him informed of the details of the buying and selling steps. The report is valid for three months from the date of issue.

Such decisions, which come within a package of laws that the Turkish government has enacted recently, aimed at facilitating the purchase of properties and investment and thus attract more foreign investment to the country.

Recent Posts

See All
Apartments For Sale In Istanbul
You can easily find your property
Image-empty-state.png

PAT-8601

Start Price :

524330

City :

istanbul properties

Space :

11.200 M2

Residential apartments

Type :

Image-empty-state.png

PAT-8404

Start Price :

1689202

City :

istanbul properties

Space :

12.000 M2

Sea views

Type :

Image-empty-state.png

PAT-8501

Start Price :

1010000

City :

istanbul properties

Space :

250.000 M2

Residential - Investment

Type :

Image-empty-state.png

PAT-8403

Start Price :

1683028

City :

istanbul properties

Space :

10.000 m2

Residential - Investment

Type :

Ataköy 7-8-9-10. Kısım Mahallesi, Route İstanbul No: 6, B Blok D:25 34156 Bakırköy/İstanbul