Market News

With the new arrangement, the realization of title deed and property tax on real value will be provided by the Expertise Report. When determining the value of the house with the system where the gradual transition is predicted, many variables from material to location will be taken into consideration.

With the real estate appraisal system organized by the Ministry of Environment and Urbanization and included in the tax package, the real estate appraisal period begins in the purchase and sale of housing. Thanks to this arrangement, which has been the subject of controversy for a long time, the low value of the house in the deed will be prevented.

First of all, citizens who want to sell their home will apply to the land registry and ask for a valuation expert. Real estate valuation can be done by both land registry offices and the private sector. The real market value of the real estate will be determined by the report prepared by the company and real estate appraisal experts authorized by the Capital Markets Board (SPK). While preparing the appraisal report, many other factors such as the floor of the real estate, its proximity to the center and the materials used in construction will be taken into consideration. After the determination of the value to be completed in two days, the seller will not wait for the sales transaction when he finds the customer. Real estate appraisal (appraisal) report prepared by SPK licensed appraisers will be valid for one year. In case of objection against the valuation amount, he has the right to receive two more reports.

Energy Identity Period in Deed Transfers

The Energy Identity Certificate Requirement started as of January 1, 2020. However, the General Directorate of Land Registry and Cadastre made a new statement in order to avoid problems in housing sales.

With the circular issued by the General Directorate of Land Registry and Cadastre, the sale was permitted in buildings without Energy Identity Certificate provided that the buyer was informed about the subject. The citizen will not be asked for the document itself and only the statement will be sufficient. In other words, if the owner of the title deeds has an EKB document, he will sell it, and if he says I do not have an EKB document, in this case, the question will be asked to the buyer side. If the buyer accepts, the sale will still be made.

Nevertheless, we remind you that this is an adaptation process and a transition decision made for housing sales problems. It is expected that the obligation to submit the Energy Identity Document will be put into effect shortly.

People who are in different cities and countries will be able to transfer title!

MECLİS has signed a study that will provide great convenience in land registry transactions. Citizens will no longer have to make transactions in the land registry office where the property is registered for land registry transactions.

According to the 26th article of the Land Registry Law, which was published in the Official Gazette on Wednesday, July 10, 2019;

In contracts that aim to transfer ownership of the immovable property, if the parties are in different title offices or abroad, the will of the parties can be taken separately by officials and the contract can be completed.

Foreign Affairs Department; It will make the necessary arrangements and carry out business and transactions so that Turkish and foreign citizens, real and legal persons of foreign nationality can perform all kinds of title deed, cadastral transactions in their country of residence.

According to this regulation, even if the parties are located in different units, cities and countries, they will be able to carry out deed transactions such as sales, donations, and exchange of goods.

Before this application, the buyer and seller had to be in the same land registry office within the framework of contractual transactions. Now, after the application to be made by the transferee, the transferees can be processed without the need to be in the same unit. Mortgage requests can be made. The parties will have to be present at the relevant land registry offices at the same time during the signing phase. Whether the parties are in the related units at the same time by the staff in both units will be confirmed by video and audio tools. After all the signatures are completed, they will be transferred to the electronic media by the official deed staff, and sent to the unit that prepares the official bill.

Interest Rate Reduction Campaign!

Housing loan rates were cut. Public banks have reduced the interest rate from zero, from 99 to 0.79 in zero housing. The new rate will be effective from January 1, 2020.

The Central Bank cut its policy rate to 12 percent in 2019. This decision was reflected in housing loans. The interest rate, which increased to 1.68 in the dwelling, gradually decreased to 0.99. Now this ratio has been reduced to 0.79 in zero residences.

The said ratio is given for all new houses sold by the contractor or the firm, and it is sufficient to write the phrase “zero housing” within the appraisal report of the house. Ziraat Bank, Halkbank, Vakıfbank, Ziraat Participation Bank and Vakıf Participation Bank provide 0.79 home loan support for new homes.

Discount came in Second Hand Home Loan Package!

credit interest rate cuts in banks' housing loan package while at full speed on both second hand and the Agricultural Bank for people who want to get to zero housing, Halkbank, Vakıfbank Foundations accession of Turkey Finance and Albaraka housing loans offered by Property campaigns and offers opportunities will host.

The most suitable housing loan interest rate is given by Vakıf Participation Bank, which is valid for all second-hand housing. The Bank provides financing support with a monthly share of 0.94 in 120-month housing finance packages.

Finance and Albaraka Turk Participation Bank in Turkey for real estate under their ownership will apply the 0.75 percent interest rate figures in the second-hand housing loan package was announced.

Title Deed Fee and VAT Discount Ended!

In 2018, the title deed deduction, which was temporarily reduced from %4 to %3 in residences and businesses, has ended. As of January 1, 2020, %4 title deed began to be applied in all trading transactions.

Likewise, with the decision of the Council of Ministers in 2018, the VAT rates discount reduced from 18% to %8 in housing deliveries of new projects.

Valuable Housing Tax comes into force!

'Valuable Housing Tax', which was introduced for residences with a value of 5 million TL and above, comes into effect in 2021. Those with a real estate appraisal value of between 5 million TL and 7 million 500 thousand TL will pay 3 per thousand, 7 million 500 thousand TL and 10 million TL will pay 6 per thousand, 10 million TL and above 10 per tax. up to be paid in two equal installments.

The value of the house is determined by the evaluation made by the General Directorate of Land Registry and Cadastre. In a way that interests can reach It is announced on the website and also notified to the relevant person.. From the date of notification by the taxpayer on the value of the real estate By the end of the 15th day up to the Directorate has the right to appeal. Appeals made in due time It is evaluated and concluded within 15 days.. The finalized value is announced on the website and communicated to the attention. If there is no value determined by the General Directorate of Land Registry and Cadastre building tax value Based on the taxation process is performed.

Public Institutions, Residents with Single Qualified Real Estate, Embassy and Consulate Buildings, International Organizations and Representatives, Those with Main Area of Activity Building are exempt from taxation.

The Bag Law Comes to Parliament: Rental and Sale of Illegal Buildings will be Prevented!

With the new bag law proposal, a new regulation is expected to be prevented against the sale and rental of illegal buildings in order to combat illegal buildings. In addition, it will be included in this proposal in new regulations for the prevention of high construction, primarily earthquake zones.

Obligation of Proficiency Certificate to Real Estate Consultants!

The new real estate law, which is within the scope of the Regulation on Real Estate Trade, has been obligatory to obtain the Responsible Real Estate Advisor Professional Competency Certificate to all real estate consultants working in the real estate sector until 2018 and 5 December 2019. With this law, the real estate consultancy profession will be done only by those who have a real estate authorization certificate. Businesses without a certificate of authorization will not be licensed. Real estate consultants will be expected to be at least high school graduates. Also, it will be necessary to obtain a license at the Ministry of Commerce by evaluating the real estate offices within the scope of the standards set for real estate offices.

Citizenship to Real Estate Buyer!

19.09.2018 According to the official newspaper, the citizenship price, which was previously 1 million dollars, was reduced to 250 thousand dollars. According to Turkey's home in the area of citizenship to foreign nationals in the program, with the proviso that no military region where the issue has wanted to get freedom in Turkey. The house has been 250,000$ the nationality conditions for foreigners in Turkey since 19.09.2018. 250,000$ dollars of foreign real estate sector in Turkey and their families will be now citizens of Turkey.

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