New arrangements for housing sales to foreigners are coming. As of March 4, the report will be required for real estate sales transactions for foreign citizens.

There are new regulations in the sale of housing to foreigners. As of March 4, real estate sales transactions generated for the citizens of foreign countries will need an immovable valuation report.

Check morning Judging from the news in the newspaper along with higher pricing arrangement and passing in front of informality in the construction sector is aimed at improving Turkey’s brand value in the eyes of foreign investors.

According to the circular issued by the General Directorate of Land Registry and Cadastre (TKGM) under the Ministry of Environment and Urbanization, the valuation report that issued the market value of the immovable property was imposed on all sales transactions in which foreign nationals were both parties as buyers and sellers.

The application of the Valuation Report has already entered into force in the purchase of property for citizenship application. With the new arrangement, this condition was brought to all foreigners for real estate sales. According to the circular, the valuation reports prepared will be valid for 3 months from the date of issue and can be used in any sales transaction.