After 4 March 2019 “Valuation Report” will be asked for the completion of the transaction for the sale of properties purchased by foreign investors in Turkey
With this new regulation, it will be provided to prevent sale of real estate worth less than the price to foreign investors, and to increase the brand value of Turkey.
No deed transaction will be made without valuation report
The valuation report requested previously for applications of Turkish citizenship through the purchase of real estate; it is now mandatory for foreign investors to buy all kind of real estate. In order to complete the legal transactions of foreigners, the valuation report will also need to be submitted.
Valuation report will protect foreign investors
Reports will remain valid for a period of three months from the date of issue. The reported sales price cannot be lower than the value stated in the valuation report but if it is higher, the sales price will be written as declared
For the buildings under construction, a calculation will be made on the value that will be obtained after completion. Valuation reports will continue to be issued by SPK (Capital Markets Board) licensed experts.