Real Estate Appraisal in Turkey

Real estate appraisal in Turkey refers to a detailed report resulting from the process of determining the market value of a specific property according to established criteria, whether it is a house, apartment, piece of land, or commercial project. The real estate appraisal report is one of the essential documents required to complete title deed transactions in real estate sales for foreigners in Turkey and holds particular importance in terms of determining the property's value, which grants the owner the right to apply for Turkish citizenship.

The appraisal report includes a variety of important information, such as the property’s area, type (residential or commercial), age of the structure, views, social amenities, and services provided to residents, quality of finishes, legal status of the project (licensed or not), and a comparison between the property price and prices of neighboring properties in the area.

Real Estate Appraisal Law in Turkey

The Real Estate Appraisal Law in Turkey is legislation issued by the Turkish Ministry of Housing, which came into effect at the beginning of 2019. The law, published on February 15, 2019, under number 1/2019, mandates that real estate appraisals be conducted by specialized government-affiliated entities before commencing procedures for obtaining the title deed or property deed for the property intended for purchase. 

Previously, obtaining a real estate appraisal was only mandatory for those seeking Turkish citizenship by purchasing property in Turkey. However, recent amendments to this law have made it obligatory for all sellers of real estate to foreigners in Turkey, regardless of the type of property, to undergo the appraisal process. Additionally, a list of government-approved real estate appraisal companies has been issued, and only appraisals issued by these companies are accepted.

Before the amendments, foreigners wishing to purchase property to qualify for Turkish citizenship had to obtain an appraisal proving the property's value of no less than $400.000. With the update to the Real Estate Appraisal Law, the obligation now encompasses all property purchases made by foreigners, ensuring they receive genuine property prices without manipulation.

Real estate appraisal reports remain valid for three months from the date of issuance, and it takes a maximum of three days to issue these reports. The law has also been updated to include all buying and selling transactions of properties in Turkey, regardless of the nationality of the parties involved. Thus, any property, regardless of its type or price, must undergo a real estate appraisal, contributing to enhancing credibility in the Turkish real estate market.

Another significant recent amendment is that the property price must now be included in the title deed transaction to protect the rights of all parties involved in buying and selling processes. 

Finally, it is crucial to emphasize the importance of not dealing with unlicensed real estate appraisal companies, as reports issued by unauthorized entities will not be accepted by the Turkish government.

What Does the Real Estate Appraisal Report in Turkey Include?

The real estate appraisal report in Turkey includes several pieces of information that play a vital role in the property pricing process, such as:

- Information about the property (e.g., its location and surrounding transportation).

- Property specifications (e.g., construction style, views, and design).

- Technical specifications of the property.

- Legal audits pertaining to the property.

- Information from the land registry.

- Factors influencing the appraisal.

- Comparative market analysis concerning similar properties.

- Appraisal result.

- Boundaries and restrictions.

- Appendices.

Accredited Real Estate Appraisal Companies in Turkey

To ensure the credibility of appraisals and facilitate the process, the government has prepared a list of accredited real estate appraisal companies, with only reports issued by these companies being accepted. The real estate appraisal report is valid for three months, and its issuance takes a maximum of three days. These measures aim to enhance the security and credibility of property purchase transactions.

How to Obtain a Real Estate Appraisal Report in Turkey

The process of obtaining a real estate appraisal report in Turkey involves formally submitting an application online for the assessment of a specific property. Subsequently, the Title Deed Office (Tapu Mudurlugu) will recommend a list of government-approved appraisal companies, from which the interested party or their representative can choose. The appraisal fee is standardized and uniform across all appraisal companies in all Turkish provinces.

In line with the Turkish government’s efforts to keep pace with technological advancements, you can now submit appraisal requests via the electronic Title Deed System (https://webtapu.tkgm.gov.tr/ ) or by contacting the ALO-181 Call Center, making the appraisal process easier without the need to visit the accredited companies directly.

Who is Responsible for Issuing the Real Estate Appraisal Report in Turkey?

The Title Deed Directorate (Tapu Mudurlugu) is responsible for receiving real estate appraisal requests from foreign investors in Turkey. The Directorate assigns recognized specialized companies to prepare appraisal reports for the properties intended for purchase. 

It is essential that these reports are prepared by independent companies licensed by the General Directorate of Land Registry and Cadastre. The Directorate announces the list of these accredited companies on its official website, where only evaluations issued by registered companies are considered valid. Therefore, reports issued by entities not listed on this site will not be accepted, ensuring credibility and transparency in the real estate appraisal process.

GEDAS: Real Estate Appraisal and Information System in Turkey

GEDAS stands for "Gayrimenkul Degerleme ve Bilgi Sistemi," which translates to "Real Estate Appraisal and Information System" in Turkish. This electronic platform was launched by the Turkish government to organize the real estate appraisal process and ensure transparency in the real estate market. GEDAS is managed by the General Directorate of Land Registry and Cadastre (TKGM) in collaboration with other specialized entities.

Objectives of the GEDAS Real Estate Appraisal System in Turkey

- Accurate Documentation of Real Estate Data: The system collects all data related to properties in Turkey, such as location, specifications, and market value.

- Standardization of Appraisal Criteria: It ensures that all real estate appraisal operations are conducted according to standardized and government-approved criteria.

- Fraud Prevention: The system aims to prevent any manipulation in property valuation, enhancing trust between buyers and sellers.

- Easy Access to Appraisal Services: Both foreign and local investors can submit requests for real estate appraisal and access appraisal reports conveniently through the system.

Features of the GEDAS Real Estate Appraisal System in Turkey

- Electronic Connectivity: The system is directly connected to the Title Deed Office and accredited appraisal companies.

- Immediate Access to Information: Government entities and investors can view real estate data directly.

- Issuance of Appraisal Reports: All appraisal reports are generated through GEDAS to ensure transparency and reliability.

How to Use the GEDAS Real Estate Appraisal System in Turkey

- Submissions for appraisals are made through the electronic Title Deed System (https://webtapu.tkgm.gov.tr/ ).

- An accredited appraisal company is designated to prepare the report.

- Appraisal results are recorded directly in the GEDAS system for access by relevant authorities.

Benefits of the GEDAS Appraisal System for Foreign Investors in Turkey

- Ensures that investors receive accurate and reliable reports.

- Reduces risks associated with property purchases.

- Facilitates title deed registration processes and verifies property information accuracy.

Importance of Real Estate Appraisal in Turkey

The Turkish government is committed to safeguarding the rights of foreign investors purchasing properties in the country by amending laws to meet investment needs and changes. The government emphasizes encouraging foreign investment by easing difficulties and removing restrictions, creating parity between foreign and local investors. Among the policies adopted are exemptions from Value Added Tax (VAT), reductions in customs duties, and other incentives for foreign investment.

Statistics indicate that real estate sales in Turkey are increasing year by year, signaling that many visitors to the country are deciding to settle for various reasons. Investors have found a suitable environment to enhance their capital and achieve sustained profits. With increasing interest in real estate investment, a variety of outstanding and diverse projects are available to meet all needs, further encouraging investors to consider Turkey for investment or settlement.

The Real Estate Appraisal Law in Turkey plays a fundamental role in protecting foreign investors' rights when purchasing properties. The appraisal process involves determining a property's market value based on a set of criteria. The aim of this evaluation is to ensure that properties are purchased at fair and validated prices, standardizing criteria and fostering trust in the real estate market.

Right to Utilize an Appraisal Report by Another Individual Within the Specified Duration

An appraisal report completed for a specific property, upon request from one foreign individual, may be used by another foreign individual for applying to acquire the same property, provided that the report's legal validity period of three months is not exceeded.

Exemption from Real Estate Appraisal in Turkey 2025

To facilitate the process of real estate investment in Turkey and enable investors to achieve the best possible returns, foreigners wishing to acquire properties for the purpose of obtaining Turkish citizenship will be exempt from the requirement of presenting a real estate appraisal report when making purchases through government institutions, as well as in projects involving government partnerships. Examples include İmara Konut and GYO.

Average Cost of Issuing a Real Estate Appraisal Report in Turkey

The cost of issuing a real estate appraisal report in Turkey varies based on several factors, including the type of property and its location. Typically, prices range from $1.500 to $2.000.