New Procedures in Determining of Real Estate Prices in Turkey

A new stage will begin in the real estate sector in Turkey in the coming period...

2017-07-28 Last update 2020-02-12

New Procedures in Determining of Real Estate Prices in Turkey

A new stage will begin in the real estate sector in Turkey in the coming period. Where the transaction will be changed by applying the prevailing market price and many regulatory procedures will be put in place, and the sale procedures for real estate will be followed through the internet.

The Turkish government will take several measures to regulate the sale and lease of the Internet in order to protect the rights of investors during the leasing or ownership process.

This is also will be a turning point in real estate prices, as the gap between selling and buying prices will be removed, and thus the over prices in this way will be eliminated.

A new system of real estate will be established throughout Turkey. The system will include a data list based on the standard prices of apartments and floors, in such a way that these prices are determined according to the international standards applied in this context in many countries of the world.

The Ministry of Finance will follow-up the sale procedures, which will be carried out electronically via the Internet through a staff of 200 people. Taxes will be collected from websites that sell real estate online.

The Ministry of Finance will prevent tax evasion during the sale of the property. It will also prevent damage to both of domestic and foreign investors during the sale or purchase of real estate. The sale of apartments and floors to foreign investors has been prohibitively expensive. The ministry will impose fines on individuals or companies that make gross profits on sales to both domestic and foreign investors.

Leasing and renting will also be monitored by the Ministry of Finance. The tenant's right will be protected so that it will not be damaged by the owner or by the website. Where taxes will be collected from the owner of the property, signed by the ministry, and will prevent the application of high rental fees.

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