Real Estate Evaluation
Real estate market in Turkey is considered the first destination for foreign investors.
And with the increase of the rates of properties purchasing process done by foreign, the Turkish Ministery of Housing has issued a decision that requires to obtain an evaluation report of the property done by a governmental evaluation committee in order to complete the purchasing process.
This evaluation committee consists of a team of real estate experts who are certified by the registry department, and their mission is to evaluate the property’s value.
The property evaluation depends on its location in the first place because the property’s value defers according to its sites where every area in Istanbul has different prices.
For example, in Şişli in Istanbul has the highest property prices between all its districts, and Beylikduzu and Esenyurt have lower prices than Florya.
In addition to that the property’s space area, the buildings age, the property’s type (residential or commercial), is it at a compound or in a separated building, all these features affect the property’s evaluation as well.