Expert valuation of Turkish property is no longer mandatory for everyone

Now not all foreign buyers of property in Turkey are obliged to order an expert valuation. An expert report on real estate is a document that protects the interests of the buyer by disclosing all legal aspects of the object, including possible debts of the seller to state structures and other nuances. The valuation can only be carried out through licensed companies of the Banking Regulation Agency (BDDK).

According to recent changes in the legislation, such valuation is required only if a foreigner buys a property for the purpose of obtaining Turkish citizenship. In such a case, the expert valuation is provided to the Land Registry and Cadastre Department of Turkey prior to the conclusion of the transaction. The Turkish Department of Foreign Affairs also reserves the right to request a valuation report if it deems it necessary.