The importance of real estate evaluation in Türkiye

Real estate valuation in Türkiye

introduction:
Turkey has become one of the favorite destinations for real estate investors globally, thanks to its investment system that provides great facilities and ensures the protection of investors and their money. In this context, real estate evaluation appears as an essential part of the investment process in Turkey, as it plays a vital role in determining the value of real estate and ensuring the integrity of deals.

Real estate valuation is one of the decisive factors in the real estate market, and in Turkey, this process plays a vital role in determining the fair value of real estate and ensuring the stability of the real estate market. Real estate evaluation is affected by several factors that determine the final value of the property, hence the importance of understanding this process and the factors that affect it.

Definition of real estate evaluation:

The real estate evaluation is defined as a comprehensive report that contains detailed information and specific procedures aimed at determining the current value of the property, in accordance with specific standards and legislation. Obtaining a real estate evaluation is necessary for foreigners wishing to invest in real estate in Turkey, whether for investment purposes or to obtain Turkish citizenship.

The importance of real estate evaluation in Türkiye:

1. Protection of foreign investors:
The real estate valuation system protects foreign investors from potential risks and ensures that properties are purchased at their true value, thus limiting the chances of fraud.

2. Combating tax evasion:
Real estate valuation plays an important role in combating tax evasion, as it helps determine the correct value of the property and ensure that taxes are paid fairly and equitably.

3. Obtaining Turkish citizenship:
In the case of real estate investment to obtain Turkish citizenship, it is required to obtain a real estate evaluation, as the value of the property must exceed 400 thousand US dollars. This requirement underscores the importance of evaluation in this context.

The importance of real estate evaluation in Turkey comes from its role in providing an accurate value for real estate, which helps in making sound investment decisions and providing guarantees for real estate loans. Accurate evaluation also contributes to achieving fairness in buying and selling operations, and in estimating taxes, fees, and real estate insurance.

Factors affecting evaluation

The evaluation of real estate in Turkey depends on several factors, including location and area, the condition of the property and the surrounding infrastructure, in addition to real estate policy decisions and market trends. For example, properties located in major urban areas may have a higher value due to higher demand, while the valuation of properties in rural areas may be affected by various factors.

Content of the real estate evaluation report:

The contents of the real estate evaluation report in Türkiye include:
– Information about the evaluation company and certification details.
– Accurate photos of the property inside and out.
– Legal data such as title deed and real estate registry.
– Technical and physical specifications of the property.
– Prices of neighboring properties and comparison with specifications.
– Identify potential negatives and problems.

Evaluation process

The real estate evaluation process in Turkey includes the use of internationally approved methods and techniques to estimate the fair value of real estate. This process relies on impartial and fair estimates, and takes into account multiple factors to determine the final value.

Real estate evaluation and obtaining Turkish citizenship

The government in Turkey requires that anyone who intends to obtain Turkish citizenship obtain a real estate evaluation record for a property he purchased, and its value must not be less than 400 thousand dollars or something comparable to the Turkish lira.

If you want to obtain Turkish citizenship through real estate investment, you need to obtain a real estate evaluation of the property you purchased before finalizing the deal, because the price of the property is a prerequisite for obtaining Turkish citizenship.

In short, real estate evaluation represents an integral part of the investment process in Turkey, as it contributes to achieving balance among investors and ensuring transparency in the real estate market. In addition, obtaining a real estate evaluation is a prerequisite for obtaining Turkish citizenship through real estate investment.

If you are looking to take advantage of the most important opportunities and options, do not hesitate to contact us. We are here to meet your needs and achieve your goals in the world of real estate investment.

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