What Is a Real Estate Valuation Report in Turkiye?

Real estate valuation is a critical part of property transactions in Türkiye—especially for foreign investors applying for residence or citizenship. A Real Estate Valuation Report (Taşınmaz Değerleme Raporu) provides a comprehensive analysis of a property’s market value, legal status, and other characteristics. These reports are prepared by licensed valuation firms and are required by institutions such as the Land Registry Office or banks, particularly in citizenship and title deed transactions.

What Is the Purpose of a Real Estate Valuation Report?

The main aim of a valuation report is to determine the true market value of a property through an impartial and standardized method. It ensures that buyers, sellers, banks, and government authorities have a transparent, objective view of the property’s worth.

It is used for:

• Citizenship by investment applications

• Title deed registration

• Real estate financing and mortgages

• Legal disputes and asset declarations

How Is the Valuation Conducted?

The valuation process begins with gathering legal data from official institutions (like the Land Registry or Municipality). This includes:

• Title deed details

• Zoning and planning status

• Construction permits

After the documentation phase, the valuation expert visits the property for physical inspection. During this visit, the property is compared with similar listings or transactions in the same area. The expert examines:

• Property location

• View and surroundings

• Construction quality

• Floor plans and number of units

• Heating system and other utilities

• Accessibility and neighborhood infrastructure

All these inputs are analyzed to estimate the most realistic market value of the property.

What Does a Valuation Report Contain?

A standard valuation report in Türkiye generally includes the following sections:

1. Summary and Purpose

An overview of the property’s value, the reason for the report, and key highlights.

2. Legal and Structural Review

• Title deed type: freehold, construction servitude, or condominium

• Zoning status and allowed construction density (KAKS/TAKS)

• Information on construction permits and building usage approvals

3. Property Description

Details such as:

• City, district, neighborhood

• Parcel number, block, and lot

• Total construction area

• Current usage (residential, commercial, industrial, etc.)

• Independent unit features: gross area, number of rooms, balconies, etc.

4. Market Analysis

The report compares the subject property with at least 3–5 similar properties (called emsal) in terms of:

• Unit price per m²

• Sale or rental status

• Property age and condition

• Distance from the subject property

5. Valuation Methods Used

The valuation is done using one or more of these internationally recognized approaches:

• Market comparison method

• Income capitalization approach

• Cost approach

The final value is expressed in both Turkish Lira (TL) and USD, based on the official exchange rate of the day before the report date.

6. Restrictions and Liens

If the property has any legal encumbrances (like mortgages or easements), they are listed along with their potential impact on value.

7. Signatures and Licenses

The report is signed with electronic signature by both the responsible licensed valuation expert and the valuation company, ensuring legal validity and traceability.

What Factors Influence a Property's Value?

A number of legal, economic, and physical factors influence the valuation:

• Legal status: Ownership structure, permits, construction rights

• Location: City center, suburban, rural—impacting demand

• Surrounding facilities: Proximity to transportation, hospitals, schools, and shopping malls

• View and orientation: Sea, forest, park, or city views

• Supply and demand balance: The general real estate trend in the region

Where Are These Reports Used?

Valuation reports are used by:

• Investors: to make informed purchase decisions

• Banks: for mortgage lending

• Government agencies: for residence or citizenship-by-investment applications

• Courts: in property disputes or divorce asset divisions

How Long Is the Valuation Report Valid?

In practice, real estate valuation reports are valid for 3 months for land registry procedures and 6 months for citizenship applications. However, it's best to check with the relevant authority for updated requirements.

Downloadable Formats and Official Structure

The official format of these reports is defined in the 2024/2 Circular issued by the Turkish Land Registry General Directorate. You can download a sample bilingual report and the official format [here] (Insert PDF links when available).