Property Purchase
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      Is a Valuation Report Required for Property Purchase in Turkey?

      The Importance of a Valuation Report in Turkish Real Estate Transactions

      Yes, a valuation report is generally required for property purchases in Turkey. This report is essential for foreign buyers to ensure that the property is fairly valued and eligible for the Turkish Citizenship by Investment program. Here are key points to consider:

      1. Mandatory for Foreign Buyers:

        • All foreign buyers are required to obtain a valuation report when purchasing property, as it confirms the offical value of the property and verifies that it meets the minimum investment threshold for citizenship.

      2. Exemption for Certain Purchases:

        • If the property is being purchased directly from a developer and that developer is a publicly listed company (GYO - Real Estate Investment Trust), the requirement for a valuation report may be waived. This is due to the developer's established credibility and transparency in property pricing.

      Having a valuation report is a crucial step in the property acquisition process, as it protects the interests of the buyer and ensures compliance with legal requirements.