Recently, the real estate sector witnessed a great demand by foreign investors due to Turkey's distinguished site on the one hand, and the decisions taken by the government, including the Turkish government's amendment of the nationality’s law and the reduction of the least required to get it on the other hand.
Amending the real estate appraisal decision:
It is known that the real estate appraisal report, which is prepared by real estate appraisal experts working in private appraisal companies approved by the state, is one of the basic papers required to apply for nationality.
After many of these companies resorted to misuse of this report in agreement with some real estate companies by placing the value of the property at a value higher than its real price in their report in order to attract the largest number of customers, the Ministry of Local Administration became aware of this matter and issued a decision stipulating the amendment of the real estate appraisal mechanism .
Content of the decision:
This decision transfers the responsibility for valuing real estate that is purchased in Turkey to the Land Registry Directorate, as the person wishing to buy a property has to send the papers of this property to the Land Registry Directorate, and the directorate in turn sends experts from an unspecified random company from the approved companies then, and in turn, the experts write the evaluation report and deliver it electronically to the relevant title deed Directorate.
The benefit of this change:
This decision will stop the manipulation by some companies that falsify the evaluation report and lure their customers to obtain Turkish nationality by buying real estate at a price lower than its real price, and this decision, although it has some harm to some investors, will enable them to get a property at an excellent price. Away from the fraud that was taking place in the evaluation of some real estate appraisal companies, it will also help to control the insane movement and increase in the real estate market.