Property appraisal in Turkey is considered one of the essential services in the real estate sector. It plays a significant role in determining the value of properties, land, and other real estate assets, whether for residential, commercial, or tourist purposes. Property values are assessed based on various factors such as location, physical condition, potential uses, and other real estate developments in the area. We will provide a detailed explanation of property appraisal

Property appraisal in Turkey (Gayrimenkul Değerleme) is the process of determining and estimating the specific and objective value of real estate properties. This is done by certified experts in the field of property appraisal. Property appraisal relies on specific criteria, including geographic location, area, the general condition of the property, surrounding amenities and services, and current market factors. Property appraisal is used in several areas such as buying and selling, leasing, insurance, real estate financing, and real estate investments. This report is considered essential for registering the property under the name of the new buyer in the land registry. On February 15, 2019, the Directorate of Land Registry and Cadastre under the Ministry of Environment and Urbanization in Turkey issued a decision requiring foreigners and citizens to obtain a property appraisal report. This decision was implemented from March 4, 2019, and no transaction for property ownership transfer or application for Turkish citizenship through real estate investment will be accepted without submitting the mentioned report.

The property appraisal process in Turkey is carried out through the following steps:

1. Submit an official request online for the appraisal of the desired property.

2. A list of government-approved appraisal companies is nominated by the Land Registry administration.

3. The property owner or their agent selects an appraisal company from the nominated list.

4. A fixed and uniform fee is set for appraisal companies across all Turkish provinces.

5. The annual price list for appraisal services is published in the official Turkish Gazette, specifying the official fees for property appraisal based on its type and size.

6. Foreign property appraisal requests in Turkey are submitted through the official Land Registry website or by contacting the customer service center at 181.

7. The property owner (buyer or their agent) can initiate the appraisal process by selecting the desired transaction from the available "Appraisal Transactions" list on the website.

8. The property owner can track the progress of the appraisal process or request a re-evaluation through the same webpage.

9. The appraisal report fee must be paid before its issuance.

There are several advantages to the property appraisal process in Turkey, which can be summarized in the following points:

1. Preventing price manipulation to deter fraud and overpricing of properties.

2. Increasing trust and security for investors interested in real estate investment in Turkey.

3. Providing confidence for foreign investors seeking Turkish citizenship through real estate investment.

4. Ensuring that the purchased property is worth the displayed value and can yield future profits commensurate with its price.

The importance of property appraisal is emphasized in Turkey through various aspects: Turkish citizenship cannot be obtained without undergoing a property appraisal, except for properties exempt from appraisal such as government projects like Emlak Konut projects and municipal projects. The title deed document is closely linked to the property appraisal report.

In early February 2019, all property buyers in Turkey were required to obtain a property appraisal report, based on a directive issued by the General Directorate of Land Registry and Cadastre, under the Ministry of Environment and Urbanization in Turkey. This requirement was not limited to those seeking Turkish citizenship but applied to all buyers.

The property appraisal report is an important document to protect buyers from fraud and manipulation, as well as to prevent falling into the trap of individuals who seek to inflate prices and exploit opportunities in the Turkish real estate market. For foreigners interested in obtaining Turkish citizenship, the property appraisal report provides an official document that proves the true value of the property, based on a reliable assessment conducted by real estate experts in Turkey, without any exaggeration or undervaluation of the actual value.

Obtaining a property appraisal report in Turkey typically takes between approximately 3 days to a week. After submitting the application to the relevant company, it is reviewed, and the appraisal report is sent by mail during this period.

The property appraisal report is valid for 3 months from the date of issuance, and it can be used multiple times if the property is sold within that period.

It's important to note that any property appraisal report in Turkey for obtaining title deeds or Turkish citizenship will only be accepted if it is issued by a government-licensed and approved company that operates in accordance with Turkish laws. Reports issued by non-government-approved real estate experts or companies will be completely rejected.