According to the governmental regulations released on February 15, 2019, which established the Turkey General Directorate of Land Registry and Cadastre, it is the official obligatory to obtain a Property Valuation Report for each foreign property sale, prepared by independent experts who are experts licensed from the Turkish Government, which is audited by the Capital Markets Board (CMB).
Thanks to the Property Valuation Report, you will know whether you are paying the right amount of tax when purchasing a property and whether your property is a real value. Another aim of this arrangement made by the Turkish Government is to protect the foreigners, who buy real estate in Turkey, from possible fraud.
During the preparation of the Property Valuation Report, appraisals visit the property, check the plans and documents in municipal and land registry offices, and they examine the nearby real estate value, and publish the report. Information is included in the content of the Property Valuation Report such as title deed information, current property prices, map and location information, possible values of property, equivalent property values, and legal status analysis in municipalities/land registry/cadastral directorates to which the property is affiliated.
Property Valuation Report is prepared in all cities throughout Turkey. At Alsadeq Group, we assist you in getting the Property Valuation Report and direct you to reliable appraisals. The time to prepare the Property Valuation Report in Turkey takes an average of 2 days. As a foreigner who wants to property invest in Turkey, you need to prepare your Property Valuation Report before making a title deed application.
