Within the scope of the regulation, a real estate valuation report showing the market value (current market value / current situation value) is sought in order to determine the value of 1,000,000 USD or 250,000 USD according to the acquisition date.
The real estate valuation report is prepared by the Capital Markets Board (SPK) (http://www.spk.gov.tr/SiteApps/SirketIletisim/List/gds) or the “Turkish Appraisal Experts Association (TDUB) (http://www.spk.gov.tr/SiteApps/SirketIletisim/List/gds) www.tdub.org.tr/Web/CompanyListForm.aspx?UID=a11d0b04-de56-4ab0-9bb8-7c2c8863ba92) will be taken from real estate valuation companies published on their internet pages. The valuation reports submitted during the application are valid for 3 months from the date of issue.
In the valuation report, the value on the report date for the buildings that are actually finished on the ground, and the value that will occur if the building is finished for the real estate that are actually unfinished or under construction and that have construction servitude should be taken as a basis. It is possible to determine the sales or promise to sell value less than the valuation report value. In this context, the valuation report is not binding within the scope of the current legislation in terms of sales price and title deed tax base. There is no obligation to submit a valuation report in all purchases and sales transactions made by foreigners before 04.03.2019. For this reason, in the sales transaction for which a valuation report has not been received or in the pre-arranged sales contract; The valuation report (if any) prepared at most 3 months before the transaction (based on the TCMB's effective selling rate of the last business day before the report date) can be taken as a basis for the valuation.