| Date: | Thursday, January 12, 2023 |
Investors' knowledge of real estate appraisal matters is necessary and useful, so that their accounts are in order, and the.
Investors' knowledge of real estate appraisal matters is necessary and useful. So that their accounts are in order, and the picture in front of them is clear, and their legal affairs are followed up, and their budgets are disciplined, and the opportunities to buy a property in Turkey in front of them are not exaggerated, and among these matters is what we will delve into today, which is the real estate appraisal report.
What are the objectives of the real estate appraisal ?
This law aims to protect foreign investors from fraud and manipulation of real estate prices due to the possibility that they do not know the true value of the real estate.
Increasing the value of Turkish real estate in foreign markets.
Achieving transparency in buying and selling operations.
Preventing tax evasion in the field of construction and real estate
Details of the real estate appraisal law:
it is necessary to obtain a real estate appraisal for every foreigner who wants to buy in Turkey, regardless of the buyer's desire to obtain citizenship.
The real estate appraisal is obtained by private companies licensed by the state.
The reports related to the price evaluation of the property are valid for a period of three months from the date of issuance only,
and in the event that the price of the property changes within a period of three months, a new report will be requested.
It does not take long to obtain the real estate appraisal report, as it can be obtained within one day or within a maximum period of 3 days.
The information required about real estate in order for the appraisal process to be correct The
details below are more simple information than the details used by real estate appraisal experts when comparing real estate and apartments for sale in Turkey.
Location and location:
When determining the property to be purchased, you need to compare it with similar properties in the same area, or very close to each other. Even if all other properties are the same, a completely correct result will not be obtained by comparing properties that are not close to each other. The reason is the differences in real estate prices in Turkey between different regions.
The number of square meters of the property:
Properties that are close to each other in terms of the number of square meters (m²) must be compared on the basis of their square meter prices. Even if they are close to each other in terms of their location, it would be wrong to compare properties of properties of very different sizes. The reason for this is that in most cases the larger the property, the lower its unit price per square metre.
New construction:
If the property to be purchased is located in a new building, the property to be compared with must also be new. Even if they have the same characteristics, there is a difference between 15-25% between the prices of new and old properties, and the result of this comparison will be incorrect and misleading due to this difference.
Orientation of the property:
If the property faces the street or towards a private area, faces the south, or receives sunlight, its value will be between 5-10% higher than other apartments in the same building.
The presence of an elevator and parking:
especially in big cities, there will obviously be a difference between real estate prices in Turkey with parking and those without. Also, the presence of an elevator will lead to the elderly and the sick choosing apartments for sale in Turkey with these specifications in particular, but it is also a factor that increases the value of the property.
The building's service facilities:
swimming pools, sports centers, children's playgrounds, and private gardens of the building are at the top of the list of factors that increase the value of the house. Therefore, it is necessary to ensure that the properties that will be compared with the properties that will be purchased have the same characteristics.
Amenities inside the house:
If there are any fixtures or equipment that were built specifically for the property to be purchased and are not present in the majority of homes, for example the smart apartment system in Turkey, the value of these amounts must be calculated and deducted from the price of the property to be purchased, and then the evaluation and comparison with Similar real estate. The most accurate comparison will be the one made after this procedure.
The most important idea in evaluating real estate in Turkey is facilitating and facilitating the buying and selling of real estate in Turkey , which is what distinguishes real estate ownership in Turkey, which is always characterized by ease, facilitation, lack of routine, and the permanence of development in the laws and regulations governing real estate ownership in Turkey, a positive development, of course, towards creating more Real estate investment opportunities in Turkey and attracting more foreign investors.
Related Blogs:
Istanbul Apartment Prices Guide
How to buy an apartment in Turkey
Residence in Turkey by buying a property
The cheapest apartments for sale in Turkey 2020
Buying apartments for sale in Istanbul in installments
Ways to obtain Turkish citizenship
Real estate investment in Turkey
Tips for buying a property in Turkey
Istanbul real estate 2020 _ 2021
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