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Know about the property valuation in Turkey

Posted by homista on May 30, 2022

For answering the question of: “what is the property estimation?” we say: it is a detailed report demonstrating the property marketing value according to specific standards, and from the official documents required for title deed records of the properties sales for foreigners in Turkey, and it is important for valuation the property to give its owner the right for applying for Turkish citizenship.

The real estate valuation steps:

The valuation process starts from applying the request via the internet aiming for valuation the property, then the title deed department nominates a list of valuation companies by the government for the applicant to choose one company of them, and the financial tariff is fixed and the same for all real estate valuation companies in into all Turkish states.

A prices list of valuation services has been issued in order to identify the property actual price according to its type and area, and the annual prices list is published in the official Turkish newspaper.

And the real estate valuation steps are summarized as following:

The requests of properties valuation for foreigners are applied through the title deed website of the title deed and cadaster office in Turkey, or by contacting the customer service center by the number 181.

The concerned person (the buyer or his / her consultant) can start the real estate valuation procedures by choosing the specific transaction he wants to do via the “Evaluation Transactions” menu on the website.

He / She can supervise the valuation transactions, or re-valuate them through the same page.

The valuation report cost should be paid by the buyer.

The application will be submitted to the relevant valuation company based on the algorithm that found in the “property valuation information system” equipped with an algorithm that verifies of completing the transactions perfectly, given the fairness in order for all applications.

The importance of property valuation in Turkey:

It is not possible to obtain Turkish citizenship without property valuation, unless the purchased property is covered by the exemption from property valuation, as in the case in projects with government partnership, such as: Emlak Konut projects and municipal projects.

The property valuation report is a necessary requirement for obtaining the title deed document, therefore without title deed document, the ownership is not possible.

The advantages of property valuation in Turkey:

  • Preventing price gouging with the aim for protecting real estate sectors from scammers and fraudsters who want to sell cheap properties at exorbitant prices.
  • Increasing safety and trust for the willing people for working in real estate investment in Turkey.
  • Giving trust to foreign investors who are willing to obtain Turkish citizenship through property investment, so that the property the client buys is worth the offered value and can be invested in the future and make the supposed profits.

Which is the responsible side for property valuation in Turkey?

The Tabu department is the main reference that the foreign investor should visit to submit a property valuation request, that allocates other property valuation companies to prepare the property valuation reports in Turkey.

The property valuation report has to be prepared by specialized and official companies licensed by the General Directorate of Land Registry department, and the list of these companies will be announced on the official and adopted website, and all reports issued from other agents or companies outside this website are not approved.

The property valuation report in Turkey:

Regarding the property valuation report, a resolution was issued by the General Directorate of Land Registries and Land Registries of the Ministry of Environment and Cities in the Republic of Turkey on February 15th 2019 under the number 1/2019, and it has been implemented from the date of 3/4/2019, and this resolution necessitates the requirement of property valuation report.

Important information regarding property valuation:

The valuation is exempted when purchasing from government institutions.

Clients who are willing for obtaining Turkish citizenship through investment will be exempted from the valuation report when the sales made through Emlak Konut, other government institutions, and projects with government partnerships.

Determine the validity period of the report

The legal period for the valuation report validity is three months.

The valuation report on will be valid and approved for all transactions related to property ownership that were applied for during the validity period of the report.

The sufficiency of the old valuation

In the transactions of not selling the property for 3 years for Turkish citizenship obtaining through investment, the client will not be required for a new valuation report other than the one that was submitted when applying for the property buying, even if the old valuation report exceeds its legal period of three months.

The right to benefit from the valuation for another person as long as it is still ongoing within the specified period

The completed valuation report for a property by a request of a foreigner person is allowed to be used by another foreigner to apply for owning the same property unless it exceeds its legal validity period of three months.

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