VALUATION FOR FOREIGNERS PURCHASING PROPERTY IN TURKEY,

The acquisition of immovable property by foreign individuals and legal entities is regulated in Articles 35 and 36 of Law No. 2644 on Land Registry and Cadastre. Citizens of countries determined by the President within the legal limitations are allowed to purchase property in Turkey. In sales transactions where foreign individuals or legal entities are either buyers or sellers, a valuation report indicating the market value of the immovable property is required for the transactions. The valuation report prepared for this purpose is valid for a period of three months from the date of issuance. It is also necessary for the prepared report to be registered in the online TAKBİS system of the General Directorate of Land Registry and Cadastre.