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The Capital Markets Board Association has unearthed a series of fraudulent schemes permeating the real estate sector. These dubious activities are especially prevalent in transactions involving foreigners who are pursuing Turkish citizenship through property investments. These frauds often involve inflating the property value to meet the threshold for citizenship eligibility. To regulate the market and prevent such abuses, the authorities plan to rigorously monitor companies with a licence for property valuation before sales. Valuers found violating these regulations face significant fines. This year, the total fines imposed have already reached $519,000.
