Expert evaluation of real estate in Turkey

According to the legislation of Turkey, every buyer of real estate (individual) to obtain a tapu (certificate of ownership) must provide an act of expert evaluation of the object. Let's take a closer look at this issue. In total, in the field of real estate use three terms related to its value. These are cadastral, appraisal (expert) value and purchase and sale value.

The estimated value of real estate is the value that the expert of a special certified company indicates in the act of expert evaluation. The size of this value affects the receipt of residence permit: 75,000 dollars for large cities and 50,000 dollars for small towns. The appraised value, as a rule, exceeds the cadastral value, or is equal to it. The act of expert valuation is performed by employees of agencies licensed by the SPK (Sermaye Piyasası Kurulu - organization controlling capital markets). The valuation report indicates the area of the property, its characteristics and infrastructure, the presence of a skan, the type of tapu and whether there are any encumbrances on the property. The time of execution is 2-4 days, the validity of the document is 3 months, the price is 3000 - 6000 liras depending on the province.

The cadastral value is the price of the real estate object established by the staff of the State Cadastral Office. It is important when paying taxes and when applying for citizenship for investment.

Sales value is the price of the property as quoted by the seller.