What is a real estate valuation report and how is it obtained?

The valuation report is a mandatory report to protect foreign real estate buyers. On this page you can find information about the documents you will need when purchasing a valuation report for your real estate and the mandatory valuation report.

Expert Report | Real Estate Valuation Report in Turkey

According to the new application of the General Directorate of Land Registry and Cadastre, it is mandatory to obtain a real estate valuation report for real estate sales made to foreigners starting from February 15, 2019 (it will soon be valid for all real estate sales). This report must be made by 2 sworn appraisers authorized by the CMB (Capital Markets Board). Experts see the real estate on the spot, examine the plans and documents in the municipality and land registry, and write valuation reports accordingly.

What is a Real Estate Valuation Report?

The expertise report is one of the mandatory documents to be taken when foreign citizens buy real estate in Turkey. This valuation report is an important document, as it will also determine the tax value of your real estate. Pay paying the right amount of taxes when you buy real estate and pay a mortgage loan thanks to this document. In addition, this obligation also prevents foreigners from being defrauded. It is also used in real estate value calculation for foreigners who want to obtain Turkish citizenship through investment.

Foreign investors are obliged to obtain the expertise reports before making a land registry application. Real estate valuation takes about 2 days. Later, the officer in charge prepares a report of about 20-35 pages by examining other real estate prices in the region.

As ELKA HOMES, we only work with officials authorized by the CMB. The average price of this expertise report is between 3,000 – 4,000 TURKISH LIRAS + Dec. The price varies depending on the location and the properties of the property. In addition, this report is valid for 3 months and a land registry application must be submitted within 3 months of receipt.
The valuation report is issued within a period of 2-3 days for real estate, while it may take from 2 weeks to 1 month to receive feasibility reports for a hotel, business, or land.