Appraisal Report Services for Real Estate Sales/Purchase Transactions of Foreign Nationals

 

Obligation for ‘real estate appraisal report’ has been set forth in cases of not only citizenship application but any sales transaction in which foreign national persons participate as seller or buyer parties, by Circular Letter No 2019/1 dated 15.02.2019 issued by Land Registry and Cadaster General Administration under Ministry of Environment and Urban Development of Republic of Turkey.

According to this circular entering into force by 4th March 2019, broadening the field of operation of appraisal sector – principles of international valuation standards and practical principles of other relevant regulations shall be applied to real estate appraisal reports to be issued by real estate appraisal institutions authorized by Banking Regulation and Supervision Board (BDDK).

Click for Circular;