Real Estate Valuation Report for Foreign Investors in Turkey

Turkey is a hospitable country that offers various incentives and support as it allows foreign investors to obtain Turkish citizenship with just an investment of $400,000 in Turkish real estate.

In addition to the unmissable opportunity to obtain Turkish citizenship by investment, the Turkish government has also started work on ensuring the rights of investors through a circular on determining the actual value of the purchased property. To this end, the government has issued new resolutions and regulations in the Real Estate Valuation Act.

As a result of the notification, it is decided that the value of each property will be declared by the Real Estate Valuation Department under the Directorate General of Land Registration and Cadastre through a Real Estate Valuation Report.

As Property Superiors, we have prepared the following articles covering important facts and changes in property appraisal reports and their scope in relation to the Turkish real estate market.

What is a property appraisal report?

A property appraisal report is a mandatory document that is required to obtain a title deed stating the true value of the property in order to complete the property buying process. The Turkish Ministry of Housing issued the first real estate valuation circular in 2019.

This document is also known as the Real Estate Valuation Report and is intended to create a safe and suitable environment for foreign investment in starting a business and eliminate the risk of loss in Turkey.

The Republic of Turkey also provides facilities for foreign property buyers such as: B. Exemption from VAT, double taxation and tax reductions to encourage them to stand out as the best host country in terms of investment opportunities.

To learn more about Turkey's tax regulations, visit our guide page titled Paying the Taxes and Fees Homeowners and Landowners Must Pay Now!

Changes to Real Estate Valuation Reports

Three years later, in September 2021, a new regulation came into effect to prevent low cost of sales declarations and tax evasion. During this change, a new system was introduced where an appraiser would be automatically appointed to determine the value of the property prior to receipt of the title deed.

However, the rules for automatically sorting expert opinions on property valuation reports have changed following consultation with the Ministry of Environment, Urbanization and Climate Change. The latest changes were made according to data from the Turkish real estate market, which said that previous changes had negatively affected property sales in the real estate sector.

Based on feedback, the Ministry of Environment, Urbanization and Climate Change has decided to allow applicants to manually select reports in addition to automatic appointments. On the other hand, the Turkish government has identified companies that can prepare property appraisal reports for foreign home buyers.

Therefore, real estate valuation companies not included in the list are not entitled to transfer real estate valuations to foreigners under any circumstances.

Real Estate Investment in Turkey, Obtaining Citizenship and Evaluation Report

The Turkish real estate investment market is a great opportunity for those who want to invest or live in our country. Diversified entrepreneurial fields, diverse employment opportunities, high-quality educational institutions, wonderful tourist attractions, well-equipped luxury real estate options, and more await foreign investors from all over the world.

In addition, purchasing a house in Turkey as a foreign investor enjoys the privileges of foreign Turkish citizenship. Even more important is the unavoidable price of getting a Turkish passport. Real estate, residential or commercial, of at least USD 400,000 offers many benefits to foreigners with Turkish citizenship.

However, before you can buy property in Turkey as a foreigner, you need to follow a few steps to become a homeowner under the right conditions. Obtaining title deeds is just one of these procedures for investors. And it is at this stage that real estate appraisal reports play an important role in making a safe and profitable investment.
Contact Property Superiors and make the best investment in Turkey!

Property Superiors provides quality services as a leading real estate and investment company in the Turkish real estate market. To achieve this, our company takes care of your needs, requirements and expectations in search of excellent real estate or other profitable areas of investment.

So, if you are a foreign investor looking for the best possible investment in Turkey, contactProperty Superiors today!

Frequently Asked Questions

1. What is real estate appraisal?

A property appraisal report is a mandatory document that is required to obtain a title deed stating the true value of the property in order to complete the property buying process.

2. What is the use of assessment?

The real estate appraisal report provides reliable data on the true value of the property, and aims to create a safe and suitable environment for foreign investment and start-up business, and eliminate the risk of loss in Turkey.

3. What is a good appraisal report?

The main benefits of assessment reports can be presented as correct, reliable and valid data.